# BACHELOR OF APPLIED FINANCE with BACHELOR OF ACTUARIAL STUDIES

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Department of Applied Finance
and Actuarial Studies                                                                                SUGGESTED PROGRAM OF STUDY 2011

BACHELOR OF APPLIED FINANCE
with BACHELOR OF ACTUARIAL STUDIES
This is a suggested sequence of units for the Bachelor of Applied Finance with Bachelor of Actuarial Studies (BAppFin/BActStud). This
document is to be used as an example only, and does not replace the Course Handbook http://www.handbook.mq.edu.au/2011 or the
University Timetable http://www.timetables.mq.edu.au.
Suggested first year program
SEMESTER 1                                                                       SEMESTER 2
Unit Code Unit Name                                     cp      Exemption        Unit Code  Unit Name                                           cp       Exemption
Unit                                                                                     Unit
ACST152        Introduction to Actuarial                3                        ACST101           Techniques and Elements of                    3
Studies                                                                             Finance
ECON111        Microeconomic Principles                 3       CT7              ACST212           Combinatorial Probability                     3
STAT171        Statistical Data Analysis                3                        ACCG106           Accounting Information for                    3       CT2
Decision-Making
MATH132        Mathematics IA (Advanced)                3                        ECON110           Macroeconomic Principles                      3       CT7

Suggested second year program
SEMESTER 1                                                                       SEMESTER 2
Unit Code Unit Name                                     cp      Exemption        Unit Code  Unit Name                                           cp       Exemption
Unit                                                                                     Unit
ACST202        Mathematics of Finance                   3       CT1              ACST255           Contingent Payments 1                         3       CT5
STAT272        Probability                              3       CT3              STAT271           Statistics 1                                  3       CT3
ACCG252        Applied Financial Analysis and           3       CT2              ECON204           Macroeconomic Analysis                        3
Management
‘People’ or ‘Planet’ Elective            3                        ACCG353           Corporate Financial Design                    3

Suggested third year program
SEMESTER 1                                                                       SEMESTER 2
Unit Code Unit Name                                     cp      Exemption        Unit Code  Unit Name                                           cp       Exemption
Unit                                                                                     Unit
ACST306        Quantitative Asset and                   3       CT8              ACST307           Quantitative Asset and Liability              3       CT8
Liability Modelling 1                                                               Modelling 2
ACST356        Mathematical Theory of Risk              3       CT6              ACST355           Contingent Payments 2                         3       CT5
ACST358        Survival Models                          3       CT4              ACST357           General Insurance Pricing and                 3       CT6
Reserving
ECON334        Empirical Finance                        3                        ACST359           Actuarial Modelling                           3       CT4

Suggested fourth year program
SEMESTER 1                                                                       SEMESTER 2
Unit Code Unit Name                                     cp      Exemption        Unit Code  Unit Name                                           cp       Exemption
Unit                                                                                     Unit
ACST402        Actuarial Control Cycle 1                3       Part IIA         ACST403           Actuarial Control Cycle 2                     3       Part IIA
ECON350        Money and Finance                        3                        ACCG352           Portfolio Management                          3
FIN310         Issues in Applied Finance -              3                        ECON360           International Finance                         3
Capstone
‘People’ or ‘Planet’ Elective            3
*The above program contains 15 credit points in the second semester of first year. This allows greater flexibility for students who decide to transfer into a different
degree at the end of their first year, and/or allows an additional elective to be added in 4th year. Students who find that 4 units in a semester is a sufficient challenge
may delay ACST212 until 2nd semester of 2nd year, and delay ACCG353 to 4th year.
Students who wish to retain the option to abandon the double degree and graduate with a BActStud at the end of the 3 years should move the Planet or People
Elective from 4th year to an earlier year. One option is to switch it with ECON334.

Accreditation                                                             PEOPLE and PLANET Units
The Institute of Actuaries of Australia (IAAust) is the professional      Double degree rules
body of actuaries in Australia. It specifies the accreditation            1. Students enrolled in double or combined degrees need to do BOTH
process that must be completed to become an actuary in                       people and planet units.
Australia. Full details of the accreditation process are available on     2. These units must be taken in two different Faculties.
the IAAust website at: http://www.actuaries.asn.au/.                      3. If any of the units are part of the student’s program of study, even if
they fulfil (1) they cannot be counted as people/planet units.
At Macquarie University students are able to undertake Part I and
Part II of the accreditation process as part of their Undergraduate
degree.                                                                   People Units
1. Outside the Applied Finance and Actuarial Studies Department
Part I covers the fundamental skills required by actuaries and can           but within the Business and Economics Faculty
be undertaken via Macquarie University as part of a standard
three year Undergraduate degree in Actuarial Studies.                      DEM127       Demographic Fundamentals
Department of Marketing and Management
There are 8 subjects in Part I, referred to as the “Core Technical”        HRM107       Introduction to Human Resource Management
subjects. These are:                                                                    Department of Marketing and Management

CT1 – Financial Mathematics                                              The full list of People Units can be found in the Course Handbook
http://www.handbook.mq.edu.au/.
CT2 – Finance and Financial Reporting
2. Outside the Faculty
CT3 – Probability and Mathematical Statistics                               The full list of People Units Outside the Faculty can be found in the
Course Handbook http://www.handbook.mq.edu.au/.
CT4 – Models

CT5 – Contingencies                                                      Planet Units
1. Outside the Applied Finance and Actuarial Studies Department
CT6 – Statistical Methods                                                   but within the Business and Economics Faculty
BUSL100     Global Legal Frameworks for a Sustainable Planet
CT7 – Business Economics                                                              Department of Accounting and Corporate Governance
ACCG260     Accounting and Reporting for the Environment
CT8 – Financial Economics                                                             Department of Accounting and Corporate Governance
ECON131     Quantitative Methods in Economics, Business & Finance
Graduates can apply for exemptions from the Part I subjects if                         Department of Economics
they attain grades of Credit or above in the relevant Macquarie
University units of study (see overleaf ).                                The full list of Planet Units can be found in the Course Handbook
http://www.handbook.mq.edu.au/.
Part II of the program, the Actuarial Control Cycle and the
Investments Module, educates students on how to apply                     2. Outside the Faculty
actuarial skills to business situations.                                     The full list of Planet Units Outside the Faculty can be found in the
Course Handbook http://www.handbook.mq.edu.au/.
Students are able to complete Part II either as part of the fourth
Award students.

Students are subject to the rules of the degree for the year that they enrol.
The information in this document is correct as at the time of printing but the University reserves the right to vary or withdraw any course(s) and/or
units, its fees and/or the mode or time of offering its course(s) and unit(s) without notice.

Department of Applied Finance and Actuarial Studies

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