Apply advanced analytical techniques to evaluate risks and opportunities for businesses, governments, not for profit organisations and individuals make critical decisions. This extension program will broaden your expertise, expanding your career opportunities.

 

Faculty
UNSW Business School
Delivery Mode
Face-to-face (includes blended)
Award
Master of Actuarial Studies (Extension)
Commencing Terms
Term 1, Term 2, Term 3
Duration (Full Time)
2 Year(s)

Overview

The Master of Actuarial Studies (Extension) equips you with the data analytics and quantitative risk management training for success in an actuarial career, or a career in finance. 

The extension program adds four courses to the Master of Actuarial Studies. This allows you to complete the professionally accredited courses to become an actuary, as well as to broaden your knowledge through electives in actuarial studies, risk management, business, or options in mathematics and in computer science. The program is accredited by the Actuaries Institute.

You’ll learn to apply advanced analytical techniques, deliver highly valued data analytics, and actionable insights. You’ll also develop a specialist quantitative skill set in actuarial models, financial mathematics, probability, machine learning / artificial intelligence analytics, and commerce.

As a graduate of of actuarial studies you'll be in high demand as your training will equip you to help businesses, governments, not-for-profit organisations, and individuals make critical decisions for the future. You'll graduate ready for a quantitative role in a range of industries including financial services, insurance, and superannuation. 

Key features

Learn from industry leaders
Our courses are taught by world-leading academic staff and professionally qualified actuaries, with involvement from industry partners.

A pathway to professional accreditation
Through this degree you can gain  exemptions to the Actuaries Institute’s professional accreditation exams. Professional accreditation through the Actuaries Institute provides mutual recognition at major international actuarial bodies such as the  Institute and Faculty of Actuaries in the UK and the Society of Actuaries in the US. 

Why study this degree at UNSW?

You'll study at UNSW Business School, which is a global leader in business education and consistently ranks as one of Australia's top business schools. In fact, we're currently ranked #1 worldwide in risk management, insurance, and actuarial research, and has strong ties with major global industry leaders and major graduate employers.

The UNSW School of Risk and Actuarial Studies is a designated Centre of Actuarial Excellence (US Society of Actuaries), and a 2021 Casualty Actuarial Society (US) University Award winner.

Our industry connections and world leading research are embedded into our programs to ensure your knowledge, skills and experience are relevant, forward-looking, and in-demand.

 

Program Code
8416
CRICOS Code
068778K
Campus
Kensington
Total Units of Credit (UOC)
96
Indicative Enrolments
70

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Entry requirements

To be eligible for this program, you must have a recognised bachelor degree (or equivalent qualification) with a substantial component of mathematics, statistics, econometrics or actuarial studies, with a credit average, as determined by the UNSW Business School. 

Applicants are expected to have a mathematics background equivalent to a full year of calculus and linear algebra at first-year university undergraduate level.

Entries are also open to students with background in related disciplines including financial engineering, data science, data engineering, physics, engineering, any related quantitative field.

Recognition of prior learning or professional recognition

Advanced standing, or recognition of prior learning is credit granted for experience and prior studies that are relevant to the program. It may be granted for courses covered in an undergraduate program, or the examinations of the Actuaries Institute (Australia), the Institute of Actuaries (UK), or the Society of Actuaries.

If you aren't eligible for advanced standing where you have relevant prior learning, you may be able to take some substitution courses, so that you aren't learning material you have already covered. 

English language requirements

 

You may be asked to provide evidence of your English proficiency to study at UNSW depending on your educational background and citizenship. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why UNSW requires a minimum English language competency for enrolment.

If you’re completing an Australian Year 12 qualification (e.g. NSW HSC or equivalent), you do not need to provide anything extra to prove your proficiency. Your qualification will be used as evidence of your English proficiency.

If you do need to provide evidence of your English proficiency, this will be indicated in your application. You can prove this by providing evidence that you meet one or more of the following criteria:

UNSW Global offers courses and programs designed to help you reach the English language level required for entry into your chosen degree. Different options are available depending on your current English language level. Learn more.

To be eligible for this program, you must have a recognised bachelor degree (or equivalent qualification) with a substantial component of mathematics, statistics, econometrics or actuarial studies, with a credit average, as determined by the UNSW Business School. 

Applicants are expected to have a mathematics background equivalent to a full year of calculus and linear algebra at first-year university undergraduate level.

Entries are also open to students with background in related disciplines including financial engineering, data science, data engineering, physics, engineering, any related quantitative field.

Recognition of prior learning or professional recognition

Advanced standing, or recognition of prior learning is credit granted for experience and prior studies that are relevant to the program. It may be granted for courses covered in an undergraduate program, or the examinations of the Actuaries Institute (Australia), the Institute of Actuaries (UK), or the Society of Actuaries.

If you aren't eligible for advanced standing where you have relevant prior learning, you may be able to take some substitution courses, so that you aren't learning material you have already covered. 

English language requirements

 

You may be asked to provide evidence of your English proficiency to study at UNSW depending on your educational background and citizenship. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why UNSW requires a minimum English language competency for enrolment.

If you’re completing an Australian Year 12 qualification (e.g. NSW HSC or equivalent), you do not need to provide anything extra to prove your proficiency. Your qualification will be used as evidence of your English proficiency.

If you do need to provide evidence of your English proficiency, this will be indicated in your application. You can prove this by providing evidence that you meet one or more of the following criteria:

UNSW Global offers courses and programs designed to help you reach the English language level required for entry into your chosen degree. Different options are available depending on your current English language level. Learn more.

Program structure

The Master of Actuarial Studies is a two year program consisting of 16 courses, tailored to suit your goals. The program includes: 

  • Six core courses
  • Nine electives, to match your career goals
  • One capstone project

In the core courses you will study probability, statistics, financial mathematics, data visualisation and communication, statistical machine learning, finance, financial reporting and business economics. In the capstone you will study actuarial theory and practice and/or actuarial data analytic applications.

Your electives will develop your actuarial expertise in areas such as insurance, superannuation, and risk management, as well other related areas. There are more than 25 elective courses to choose from that span mathematics, computer science, marketing, information technology, finance, and economics.

High achieving students will also have the opportunity to engage in research-related courses.

For current and detailed course information, visit the Actuarial Studies Handbook

Future careers

With highly transferable skills in actuarial studies, business, analytics, and statistics, you can move across, and succeed in the private sector, financial institutions, and government departments. UNSW Business School's Career Accelerator provides work experiences and professional development opportunities to help get you started.

Potential careers

  • Actuarial Analyst
  • Asset Management Trainee
  • Business Consultant
  • Credit Analyst
  • Data Analyst
  • Insurance Analyst
  • Investment Banker
  • Management Consultant
  • Risk Assessment Officer
  • Superannuation Adviser
  • Wealth Management Analyst
  • Derivatives Trader

Accreditation

The Master of Actuarial Studies provides a strong foundation for becoming an actuary or working within a related field. You can earn exemptions from courses in the Actuaries Institute’s Foundation and Actuary Program in Australia, or VEE credit from the Society of Actuaries (USA). Mutual recognition arrangements between major actuarial associations also mean that your professional qualifications are internationally transferrable.

How to apply

Applications must be submitted through our Apply Online portal. We encourage you to submit your completed application as early as possible to ensure it will be processed in time for your preferred term. Some high-demand programs and Faculties with limited places may have an earlier application deadline or commencement date. Find out more.

Ready to start your application?

For most international students, applications are submitted via our Apply Online service. We encourage you to submit your completed application as early as possible to ensure it will be processed in time for your preferred term.

Some high-demand programs with limited places, may have an earlier application deadline or may have an earlier commencement date. For more information visit our international applicant information page.

Ready to start your application?

Fees & Scholarships

2022 Indicative First Year Fee
$35,760*
2022 Indicative Fee to Complete Degree
$72,125*

*Fees are subject to annual review by the University and may increase annually, with the new fees effective from the start of each calendar year. The indicative fees listed here are based on an estimated average and are for tuition only other fees and charges are not included. The amount you pay will vary depending on the calendar year to enrol, the courses you select and whether your study load is more or less than 1 Equivalent Full Time Student Load (8 courses per year).

Indicative fees are a guide for comparison only based on current conditions and available data. You should not rely on indicative fees. More information on fees can be found at the UNSW fees website.

Indicative fees to complete the program have been calculated based on a percentage increase for every year of the program. Fee increases are assessed annually and may exceed the indicative figures listed below.

2022 Indicative First Year Fee
$50,155*
2022 Indicative Fee to Complete Degree
$101,135*

*Fees are subject to annual review by the University and may increase annually, with the new fees effective from the start of each calendar year. The indicative fees listed here are based on an estimated average and are for tuition only other fees and charges are not included. The amount you pay will vary depending on the calendar year to enrol, the courses you select and whether your study load is more or less than 1 Equivalent Full Time Student Load (8 courses per year).

Indicative fees are a guide for comparison only based on current conditions and available data. You should not rely on indicative fees. More information on fees can be found at the UNSW fees website.

Indicative fees to complete the program have been calculated based on a percentage increase for every year of the program. Fee increases are assessed annually and may exceed the indicative figures listed below.

Indicative fees to complete the program include tuition plus an estimate of study-related costs of approximately $1,000 per year. To find out more about other costs, visit UNSW International.

Scholarships


At UNSW, we award over $83 million in scholarships each year. We pride ourselves on rewarding excellence and making university accessible to students from all walks of life. Whether you’re a domestic or international student, our range of scholarships, prizes and awards can support your journey.

Featured scholarship

Alumni Leaders Scholarship in Business
This scholarship supports people from a disadvantaged background to begin undergraduate studies at UNSW Business School. Explore the full range of UNSW Business School domestic scholarships.

Featured scholarship

UNSW Business School International Scholarship
This scholarship supports international undergraduate and postgraduate coursework students who are commencing full-time study at UNSW. Explore the full range of UNSW Business School international scholarships.


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The learning culture at UNSW, which challenges the status quo, helped set me apart from others.
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