Actuarial Studies

Monash University

About Actuarial Studies

Develop advanced expertise in statistics, econometrics and mathematics with the industry-accredited Master of Actuarial Studies.

In the Master of Actuarial Studies you will develop your proficiency in advanced analytical and mathematical systems – and learn to apply your knowledge in the complex worlds of economics, econometrics, business modelling and finance.

The course covers specific areas of actuarial practice, and includes exemptions for Parts I and II of subjects of the Institute of Actuaries of Australia. As part of the degree, you can choose a wide range of elective units, across the fields of econometrics, actuarial practice, economics, business modelling and finance, which will give you the flexibility to tailor the course to your personal interests and career goals.

The course gives you access to some of Australia's renowned actuarial educators and practising actuaries with extensive industry experience, to ensure your studies focus on current concepts and issues that are relevant to business today. You will also spend time growing as a business professional, enhancing your communication, leadership and judgement skills.

In the Master of Actuarial Studies you will acquire advanced expertise in statistics, econometrics, finance, economics and mathematics.

As well as developing essential mathematical skills, the course also focuses on developing your wider business awareness skills including, communication, critical thinking, actuarial judgement and professionalism.

Accreditation and professional recognition
You may also receive accreditation for Part I and Part II elements of the Actuaries Institute’s professional examinations and you will be prepared for careers in the business and financial sectors, with a specific focus on actuarial and mathematical modelling and forecasting roles.

“Monash is fully accredited by the Actuarial Institute and with the actuarial science major; it's really easy to get a job in my home country and in Asia.” Erwin Wibowo (Actuarial Science)

Entry Requirements

Qualifications

Entry level 1:
96 points to complete
Duration: 2 years full-time, 4 years part-time

An Australian bachelor degree (or equivalent) with a Weighted Average Mark (WAM) of 65% or an equivalent GPA and must have passed an introductory statistics unit or equivalent and a 1st year Calculus or Algebra unit, or equivalent. Applicants will be ranked and selected based on their entire academic record.

Entry level 2: 72 points to complete
Duration: 1.5 years full-time, 3 years part-time

An Australian bachelor degree (or equivalent) and an Australian graduate certificate in a cognate discipline with a WAM of 65% in both qualifications or qualifications and experience approved by the faculty.

Entry level 3: 60 points to complete
Duration: 1.5year full-time, 3 years part-time

An Australian bachelor honours degree (or equivalent) in a cognate discipline with a WAM of 65% or qualifications and experience approved by the faculty.

Students should be aware that the granting of exemptions from particular subjects may affect their ability to complete the subjects required for the Actuaries Institute accreditation.

English entry requirements

Level A

IELTS (Academic): 6.5 Overall score, with minimum band scores: Listening 6.0, Reading 6.0, Writing 6.0 and Speaking 6.0

Pearson Test of English (Academic): 58 Overall score, with minimum scores: Listening 50, Reading 50, Speaking 50 and Writing 50

TOEFL Internet-based test: 79 Overall score, with minimum scores: Reading 13, Listening 12, Speaking 18 and Writing 21

Equivalent approved English test

University entrance requirements

Minimum entrance requirements for admission to Monash University Australia.

English Program Requirements

You can meet English entry requirements if you have completed an English subject in your prior secondary studies that is equivalent to an Australian Year 12 level (score requirements also apply). Acceptable English subjects for international qualifications are detailed in the prerequisite subject requirements section below. Other English subjects may be accepted and are assessed on a case by case basis.

English Requirements

Min IELTS: 7
Min TOEFL: 94

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Course Summary

Study level

Postgraduate

Discipline

Applied and Pure Sciences

Cricos

082326K

Duration

2 years

Study mode

On Campus

Fee*

A$50,000 per year

University Summary

AU Ranking: 6

QS Ranking: 55

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