What Is an Actuarial Science Degree?
An actuary applies mathematical and statistical methods to assess risk in insurance and finance, as well as other related industries. A successful actuary has a deep understanding of a number of interrelated subjects including mathematics, statistics, finance, economics, probability and computer science.
What will I study?
During this degree you will explore the core subjects of mathematics, statistics, probability and economics. You will also learn stochastic models, financial reporting and business, and you will develop your understanding of the roles of mathematical and statistical calculation in financial risk management.
See more details:
In the first year you will study mathematics for actuarial science, probability and statistics, finance and investment mathematics and economics. You will also learn about Information Technology, learning to use the program MiniTab – a statistical package, and learning to write VBA code.
The second year focuses on further mathematical concepts such as calculus and linear algebra, stochastic modelling and financial economics. The role of the actuary will be examined and you will be taken on visits to major banks. A focus on careers will introduce you to the many varied career paths you could take with this degree.
The third year teaches survival models, advanced contingencies, statistical modelling and probabilistic modelling. A dissertation will serve as the basis of a final year project, and will encourage the production of independent research.
Popular Universities & Courses
These are frequently enquired universities and courses by students for your reference. Please note that entry requirements and fees are listed as a guideline only.
| Country | University | Course | Tuition Fee | A Level / IB | Polytechnic Diploma GPA – Year 1 Entry |
| AU | UNSW | Bachelor of Actuarial Studies | 44,100 AUD | AAAbbc | 3 |
| AU | Macquarie University | Bachelor of Actuarial Studies | 37,500 AUD | AAAbbd | 3.2 |
| AU | Monash Univerisity | Bachelor of Actuarial Studies | 45,000 AUD | BBB | 3 |
| AU | Australian National University | Bachelor of Actuarial Studies | 43,680 AUD | AAAb | 3.2 |
| UK | University of Kent | BSc Actuarial Science | 16,200 GBP | AAB | 3 |
| UK | City University of London | BSc Actuarial Science | 19,000 GBP | AAA | 3 |
| UK | Heriot Watt University | BSc Actuarial Science | 15,080 GBP | AAB | 3 |
| NZ | Victoria University of Wellington | BSc Actuarial Science | 30,492 NZD | CCC | 2.8 |
| Country | University | Course | Tuition Fee | Entry Requirements |
| AU | Australian National University | Master of Actuarial studies | 47,880 AUD | GPA 5.0/7 |
| AU | UNSW | Master of Actuarial studies | 48,240 AUD | Credit average |
| UK | University of Southampton | MSc Actuarial Science | 18,812 GBP | Second Upper Hons |
| UK | University of Kent | MSc Applied Actuarial Science | 17,020 GBP | Second Upper Hons |
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