Undergraduate Studies in Economics Undergraduate Studies in ...

Why enrol in actuarial stuDies
at the university of melbourne?
Fully accredited by the Institute
of Actuaries of Australia
The Centre for Actuarial Studies at the University
of Melbourne is fully accredited by the Institute
of Actuaries of Australia. We are one of only four
such accredited university centres in Australia,
and the only one in Victoria. This means that our
subject offerings at the University of Melbourne
are recognised as being equivalent to Parts I and II
of the Institute of Actuaries of Australia education
program. Subject to sufficiently meritorious
performance during your degree you will graduate
from Melbourne’s actuarial Honours program as an
Associate of the Institute of Actuaries of Australia.
A Centre of Excellence
The Centre for Actuarial Studies has been
designated a Centre of Excellence by the Institute
of Actuaries of Australia. Centre of Excellence
status is given only after a number of criteria
relating to quality of staff, research standing and
educational commitment are met by the University.
Teaching excellence
Staff within the Centre for Actuarial Studies have
won teaching awards at both the Faculty level and
the University level. The Centre is also committed
to the production of high quality educational
resources. Professor David Dickson, the Director
of the Centre for Actuarial Studies, has written
two internationally published text books covering
material that is taught to our undergraduate
students in the actuarial program. Associate
Professor Mark Joshi is the author of a textbook
on mathematical finance that is used in many
universities around the world, including Melbourne.
We have also developed a piece of actuarial
software called Advance which is used throughout
our undergraduate courses. This software gives
students the opportunity to see the results of
applying actuarial theory in a number of traditional
actuarial contexts.
Leading actuarial research
The Centre for Actuarial Studies is a leading
actuarial research group. Our international
reputation for research has been developed from
our work in risk theory and financial mathematics,
in particular the pricing of derivative securities.
We also conduct research into practical areas
including disability income insurance and
investment management. The wide scope of our
research means that our upper level undergraduate
courses include recent developments in the
field of actuarial science. This ensures that our
graduates not only learn the required actuarial
syllabus but also begin to appreciate the thought
process required for modern research into Actuarial
Science. Our research profile also means that we
can provide a very diverse honours program with
students able to choose research essay topics from
a very broad spectrum.
Close links with industry
The full time actuarial staff have worked for a
range of employers including insurance companies,
banks, actuarial consultants and government
departments. This experience means that our
lectures can include reflections on actuarial practice
as well as providing sound development of actuarial
theory.
Our Part II program is taught by leading actuarial
practitioners in Melbourne. This ensures that our
honours graduates have sound knowledge of
actuarial models and also the ability to apply and
extend these models in practical contexts. It is
this ability to learn, apply and extend modelling
techniques that is so highly valued by employers
of our graduates.
Teaching and learning support
The Teaching and Learning Unit in the Faculty
of Economics and Commerce offers students
assistance with study methods and assessment
techniques. We also have a very active Actuarial
Students’ Society and a Mentoring program
specifically tailored to help first year actuarial
students.
Entry Requirements to
Major in Actuarial Studies
To major in actuarial studies you will need to meet
the admission requirements for entry into the
Bachelor of Commerce.
For more information on admission
requirements please visit:
www.bcom.unimelb.edu.au/bachelor/entry.html
In order to gain entry to the first year mathematics
subjects you will need a study score of at least
37 in VCE Units 3 & 4 Specialist Mathematics
or equivalent. Alternative study programs are
possible for students who attended a school
where VCE Specialist Mathematics or equivalent
was not available, and for students who do not
have the required study score in VCE Specialist
Mathematics. For more information contact the
Undergraduate Commerce Student Centre.
Teaching and Learning
in the Centre for Actuarial Studies
8 9
Dr David Pitt
Y ANU Vice Chancellor’s Award for
Teaching Excellence, Winner 2004
Y Australian Teaching Awards,
Nominee 2004, 2008
Y University of Melbourne Faculty of
Economics and Commerce,
Outstanding Lecturer Award, April 2006
“In the eight years that I have taught Actuarial
Studies I have aimed to provide a lecture
environment where students are motivated to
learn. This motivation is created through careful
development of actuarial and statistical theory
in a way that draws on student experience and
knowledge and gives students a clear view of
subject objectives. It is so important that students
can see how their studies will help them in their
actuarial careers.
Students in the Centre for Actuarial Studies are
given high quality lecture and tutorial material in all
the subjects that they study. Students are able to
download course materials that include exercises
and solutions, spreadsheet programs and links to
actuarial research papers from specialised learning
management web based software. Teaching is
viewed as a very important part of what we do in
the Centre for Actuarial Studies”.