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Bachelor of Applied Finance with the degree of Bachelor of Actuarial Studies


Faculty of Business and Economics
Bachelor of Applied Finance with the degree of Bachelor of Actuarial Studies (BAppFinBActStud)
English Language Proficiency:
Academic IELTS of 6.5 overall with minimum 6.0 in each band, or equivalent
Study Mode:
Attendance Mode:
Candidature Length:
Full-time: 4 years
North Ryde — Session 1 (25 February 2019)
Volume of Learning:
Equivalent to 4 years
General requirements:
Minimum number of credit points for the degree 96
Of your 96 credit points, complete a maximum of 36 credit points at 100 level
Minimum number of credit points at 200 level or above 60
Minimum number of credit points at 300 level or above 30
Completion of a designated PACE unit
Completion of other specific minimum requirements as set out below

In order to graduate students must ensure that they have satisfied all of the general requirements of the award.

Specific minimum requirements:

Credit points

100 level

Accounting in Society (3)
Introduction to Actuarial Studies (3)
Macroeconomic Principles (3)
Microeconomic Principles (3)
Mathematics IB (Advanced) (3)
Statistical Data Analysis (3)
Mathematics IA (Advanced) (3)
Mathematics IA (3)

200 level

Mathematics of Finance (3)
Finance and Financial Reporting (3)
Contingent Payments 1 (3)
Investments (3)
Macroeconomic Analysis (3)
Statistics I (3)
Probability (3)

300 level

Actuarial Modelling (3)
Issues in Applied Finance (3)
Quantitative Asset and Liability Modelling 1 (3)
Survival Models (3)
Financial Econometrics (3)
Financial Risk Management (3)
Applied Portfolio Management (3)
6cp from
ACST306 - ACST315
ACST356 - ACST357

Balance of credit points required:



Units marked with a C are Capstone units.
Units marked with a P are PACE units.

AQF Level Level 7 Bachelor Degree
CRICOS Code 067844B
Overview and Aims of the Program This double degree is designed to give you practical financial skills and an understanding of the actuarial process. By combining applied finance with actuarial studies you'll deepen your understanding of the financial, mathematical, statistical and economic analysis needed in long term financial management.

In this double degree you'll study economics, accounting and current financial theory. You will learn mathematical techniques particularly useful to actuaries such as probability and statistics. The program has a focus on applying these skills to real financial organisations, markets and instruments.
Graduate Capabilities

The Graduate Capabilities Framework articulates the fundamentals that underpin all of Macquarie’s academic programs. It expresses these as follows:

Cognitive capabilities
(K) discipline specific knowledge and skills
(T) critical, analytical and integrative thinking
(P) problem solving and research capability
(I) creative and innovative

Interpersonal or social capabilities
(C) effective communication
(E) engaged and ethical local and global citizens
(A) socially and environmentally active and responsible

Personal capabilities
(J) capable of professional and personal judgement and initiative
(L) commitment to continuous learning

Program Learning Outcomes By the end of this program it is anticipated you should be able to:

1. demonstrate knowledge relevant to compound interest theory and practice (K);
2. demonstrate integrative knowledge of key concepts and principles in applied finance (K);
3. develop technical skills required to evaluate key theories, concepts and models in contemporary applied finance (K);
4. demonstrate expertise in the use of contingent payment techniques to determine expected present values (K);
5. demonstrate expertise in the development and application of survival models (K);
6. critically analyse financial data and modelling (T, I);
7. model and critically analyse scenarios involving financial risk (T, I);
8. apply appropriate analytical techniques to decisions, issues and problems in finance (P, J);
9. recommend appropriate solutions to business problems that involve financial risk (P, J);
10. demonstrate an awareness of the effects of global regulatory frameworks on market efficiencies and other innovations in finance (E, A);
11. demonstrate an awareness of ethical issues in a global financial context (E, A);
12. demonstrate an awareness of the challenges facing businesses, and the need for ethical behaviour (E, A);
13. demonstrate communication skills relevant to an appropriate professional environment (C);
14. apply teamwork knowledge and skills for effective collaboration to achieve diverse purposes in a range of contexts (E).
Learning and Teaching Methods Refer to the corresponding entry in the BAppFin and the BActStud.
Assessment Refer to the corresponding entry in the BAppFin and the BActStud.
Recognition of Prior Learning

Macquarie University may recognise prior formal, informal and non-formal learning for the purpose of granting credit towards, or admission into, a program. The recognition of these forms of learning is enabled by the University’s Recognition of Prior Learning (RPL) Policy (see and its associated Procedures and Guidelines. The RPL pages contain information on how to apply, links to registers, and the approval processes for recognising prior learning for entry or credit.

Information can be found at:

Support for Learning

Macquarie University aspires to be an inclusive and supportive community of learners where all students are given the opportunity to meet their academic and personal goals. The University offers a comprehensive range of free and accessible student support services which include academic advice, counselling and psychological services, advocacy services and welfare advice, careers and employment, disability services and academic skills workshops amongst others. There is also a bulk billing medical service located on campus.

Further information can be found at

Campus Wellbeing contact details:
Phone: +61 2 9850 7497

Program Standards and Quality

The program is subject to an ongoing comprehensive process of quality review in accordance with a pre-determined schedule that complies with the Higher Education Standards Framework. The review is overseen by Macquarie University's peak academic governance body, the Academic Senate and takes into account feedback received from students, staff and external stakeholders.

For additional information, refer to the corresponding entry in the BAppFin and the BActStud.
Graduate Destinations and Employability Career opportunities exist in the fields of:
• life, general or health insurance
• superannuation
• banking and finance
• funds management
• investment
• risk management
• public Sector: Australian Prudential Regulation Authority, Australian Taxation Office
• wealth management
• energy and environment
• management
• non-traditional areas such as IT, e-commerce, climate change.

• life insurance companies
• general insurance companies
• health insurance companies
• actuarial and superannuation consulting firms
• banks and funds managers
• accounting firms.
Assessment Regulations

This program is subject to Macquarie University regulations, including but not limited to those specified in the Assessment Policy, Academic Honesty Policy, the Final Examination Policy and relevant University Rules. For all approved University policies, procedures, guidelines and schedules visit

Accreditation This is an Australian Qualifications Framework (AQF) accredited qualification.

The Actuaries Institute is the professional body of actuaries in Australia, and conducts a 3-part exam process and a Professionalism Course. After completing these requirements a graduate becomes a Fellow of the Institute of Actuaries of Australia (FIAA).

The Bachelor of Actuarial Studies is accredited by the Actuaries Institute. Completing this four-year double degree involving actuarial studies, with grades of Credit or above in the relevant units, may allow you to be granted exemption from the Foundation stage and the university component of the Associateship stage of the Actuaries Institute's professional requirements. If you complete the three-year Bachelor of Actuarial Studies, with grades of Credit or above in the relevant units, you are granted exemption from the Foundation stage of the Actuaries Institute's professional requirements.

The Bachelor of Applied Finance has been approved by ASIC (Australian Securities and Investments Commission) as meeting ASIC training standards in relation to RG 146 compliance for generic knowledge and specialist knowledge areas including securities, derivatives, managed investments, foreign exchange, deposit products and non-cash payment products, subject to the completion of certain core and elective units in the degree.

Inherent requirements are the essential components of a course or program necessary for a student to successfully achieve the core learning outcomes of a course or program. Students must meet the inherent requirements to complete their Macquarie University course or program.

Inherent requirements for Macquarie University programs fall under the following categories:

Physical: The physical inherent requirement is to have the physical capabilities to safely and effectively perform the activities necessary to undertake the learning activities and achieve the learning outcomes of an award.

Cognition: The inherent requirement for cognition is possessing the intellectual, conceptual, integrative and quantitative capabilities to undertake the learning activities and achieve the learning outcomes of an award.

Communication: The inherent requirement for communication is the capacity to communicate information, thoughts and ideas through a variety of mediums and with a range of audiences.

Behavioural: The behavioural inherent requirement is the capacity to sustain appropriate behaviour over the duration of units of study to engage in activities necessary to undertake the learning activities and achieve the learning outcomes of an award.

For more information see

2019 Unit Information

When offered:
S1 Day
Permission of Executive Dean of Faculty
HSC Chinese, CHN113, CHN148