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What will I learn?

Melbourne Business School's Master of Actuarial Science is the fastest graduate pathway to prepare you for the actuarial profession. Graduates of this degree will be analytical in the application of actuarial theory, knowledge, principles, techniques and data. They will be problem solvers capable of explaining, applying and critically evaluating the use of actuarial models, particularly in relation to insurance and superannuation.

Who is it for?

The Master of Actuarial Science is designed to provide non-actuarial graduates with their initial education in actuarial studies. It's suitable for graduates who have mathematical or statistical specialisations (e.g. mathematics, physics or engineering). If you have studied an actuarial major previously, then we recommend the Master of Commerce (Actuarial Science).

Actuarial studies is a discipline well-known for its quantitative aspects and mathematical rigour. A graduate qualification in this area can offer real competitive advantages in today’s financial services industry. An actuary’s work is based upon a multi-disciplinary background of mathematics, statistics, demography, finance and economics.

The degree is designed to be completed in 1.5-years of full-time study or part time equivalent and requires completion of 150 points. The degree consists of 12 semester-length subjects comprising:

  • 6 discipline core subjects;
  • 2 capstone subjects; and
  • 4 elective subjects.

Which department am I in?

Faculty of Business and Economics

CRICOS

0101265

Study options

Full Time (18 months)

Tuition fees
A$46,752.00 (25,43,634) per year
Indicative total course fee: AUD $95,841
Start date

February 2023

Venue

The University of Melbourne

Parkville Campus,

Grattan Street,

UNIVERSITY OF MELBOURNE,

Victoria,

3010, MELBOURNE, Australia

Entry requirements

For students from United States

Applicants need to successfully complete an undergraduate degree. English language requirements: IELTS (academic English Only) - 6.5 overall, with written 6.5 and no band less than 6.0; TOEFL (paper-based test) - 577 + TWE 4.5; TOEFL (internet-based test) - 79 + (Writing 21; Speaking 18; Reading 13; Listening 13); Pearson Test of English – you need an overall score from a minimum between 58-64 inclusive and achieve no PTE communicative skills score below 50; Cambridge English, Advanced/Certificate in Advanced English (CAE) – you need a Cambridge English Score from a minimum 176 with no skill below 169.

For international students

In order to be considered for entry, you must have completed:

An undergraduate or postgraduate degree with the equivalent of a major in mathematically based subjects equivalent of a major in mathematically based subjects, for example, studies in mathematics, statistics, physics, engineering.

Minimum scores and tests accepted

For English language tests, we require documentary evidence of having obtained the minimum scores within the previous 24 months.

IELTS: 6.5 (with no band less than 6.0)
TOEFL (paper test): 577 with TWE 4.5
TOEFL (internet): 79 with Writing 21, Speaking 18, Reading 13, Listening 13
Pearson Test of English (Academic): 58-64 inclusive and no communicative skill below 50.

*There may be different IELTS requirements depending on your chosen course.

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