Program details | Postgraduate coursework | Future Students | Australian School of Business

The Master of Actuarial Studies (Extension) will enable students from various academic and professional backgrounds to study the key underlying theory and practice of actuarial science and to prepare for an actuarial career. The Master of Actuarial Studies (Extension) will be a lengthened program compared to the Master of Actuarial Studies allowing students to include an additional 4 courses (24UOC) from the more advanced postgraduate actuarial studies courses or to include additional course options from related disciplines in the university such as economics, finance, or statistics.

Who should study this program?

The Master of Actuarial Studies is designed for graduates in disciplines with strong mathematical and statistical components such as actuarial studies, economics, engineering, mathematics and science.

The Master of Actuarial Studies Extension program is a lengthened program compared to the Master of Actuarial Studies, allowing students to include an additional 4 courses (24UOC). Subject to academic performance, students from non-actuarial backgrounds will be able to complete the academic requirements to become as Associate member of the Institute of Actuaries of Australia.

Program benefits:

Unique coverage of professional actuarial syllabus and offered in a separately taught postgraduate program.
Professional accreditation by both the Institute of Actuaries of Australia and the Institute of Actuaries (London).
Flexibility in entry through exemption from core requirements based on prior study and advanced standing.
Integration with Institute of Actuaries of Australia professional Fellowship requirements.
Integration of latest research into syllabus.
Flexibility in course structure allowing students to complete professional qualification as well as courses in advanced risk management and/or related fields.

Program structure:

The Master of Actuarial Studies (Extension) consists of 16 courses (4 core courses + 12 elective courses).

Postgraduate courses offered by the Australian School of Business or by other Faculties within the University may be substituted with the approval of the Director of the Program.

Professional accreditation:

The Master of Actuarial Studies at UNSW is fully accredited by the Institute of Actuaries of Australia for both Part I and Part II subjects and recognised for exemptions by the Institute of Actuaries (London) for the Core Technical subjects.

Exemptions/transfer of credits:

Courses covered in a completed undergraduate program equivalent to those in the core may be granted exemption from the corresponding core courses up to a maximum of 4 core courses.

Advanced standing may be granted for similar courses already completed but not used for another award up to a maximum of two courses. Courses covered in a completed undergraduate program equivalent to those in the core may be granted exemption from the corresponding core courses up to a maximum of 4 core courses. Students completing the examinations for the Fellowship of the Institute of Actuaries of Australia may receive up to two exemptions in addition to those granted for the core courses (up to 4). They will be required to complete at least 10 courses in the program.

Career prospects:

Actuaries are among the highest paid professionals in many countries around the world. There is also a growing demand for graduates who combine specialist actuarial training with courses in related areas. The Master of Actuarial Studies degree from UNSW is widely recognised in Australia and internationally, particularly in Asia.

Depending on the individual’s starting point, the Master of Actuarial Studies (Extension) provides a platform for career advancement or change into the Actuarial profession.

Entry requirements:

To qualify for this program, students require a recognised undergraduate degree (or equivalent qualification) with a substantial component of mathematics, statistics, econometrics or actuarial studies, and a credit average overall.

Applicants are expected to have a mathematical background equivalent to a full year of calculus and linear algebra at first-year university undergraduate level at an above credit grade, as determined by the Australian School of Business.

Session 2 courses in Actuarial Studies assume that students have the required background knowledge from previous studies. Prospective students who plan to commence in Session 2 should consult the Actuarial Studies School office prior to application in order to determine if they have the required background. Students who have a very strong background in Mathematics, Statistics, Econometrics or Finance and Financial Mathematics may be allowed to enrol in the 2nd session Actuarial Studies courses. Approval must be obtained from Actuarial Studies before enrolling in these courses.

Additional entry requirements

How to apply

Please refer to the 'How to apply' section of this site.

Fees:

Tuition fees per course (6 UOC):
$2,790 - Local student
$3,660 - International student

Program cost (estimated):
$44,640 - Local full-time student
$58,560 - International full-time student