Proposed Monash Actuarial Program Structure

It is proposed that the actuarial program within the B.Com degree comprise the following Monash units. Students taking these units during 2009, and achieving an adequate result, will be offered exemption from the relevant subjects of the Part I requirements of the Institute of Actuaries of Australia. In the interim these exemptions will most probably be provided on a ‘block’ basis.

When the program is fully accredited (expected to be by 2011), exemptions for students will be guaranteed provided an adequate result is achieved.

Note that additional work may be required in some units to meet the exemption requirements (see the notice at the end of this page).

Year	Monash Unit	Name	Covering
1	AFC1000	Principles of accounting and finance	CT2
1	ECC1000	Principles of microeconomics	CT7
1	ECC1100	Principles of macroeconomics	CT7
1	ETC1000	Business and economic statistics	CT3
1	ETC1010	Data modelling and computing	Prerequisite for ETC2520
2	AFC2000	Financial Institutions and Markets	CT2
2	AFC2140	Corporate finance	CT2
2	AFC2340	Debt markets and fixed income securities	CT1
2	ETC2430	Actuarial statistics	CT4, CT5
2	ETC2520	Probability and statistical inference	CT3
2	ETC2410	Introductory econometrics	Prerequisite for ETC3460
3	ETC3420	Bayesian modelling and risk analysis	CT6
3	ETC3530	Contingencies in insurance and pensions	CT5
3	ETC3460	Financial econometrics	CT8
3	ETC3510	Modelling in finance and insurance	CT6, CT8
3	MTH3241	Random processes in the sciences and engineering	CT4

Thus it is proposed that the exemption for each CT subject will be based on sufficient grades in one or more Monash units as follows:

CT subject	Monash Unit
CT1	AFC2340
CT2	AFC1000, AFC2000 & AFC2140
CT3	ETC1000 & ETC2520
CT4	ETC2430 & MTH3241
CT5	ETC2430 & ETC3530
CT6	ETC3420 & ETC3510
CT7	ECC1000 & ECC1100
CT8	ETC3460 & ETC3510

In addition students would need to fulfil any other compulsory 1st year unit requirements of the B.Com degree and to take sufficient elective units to make up the required total of 24 units.

This proposed structure is subject to any changes which may arise during the accreditation process.

In particular note that AFC1030 Introduction to financial accounting is not currently proposed as required for CT2 exemption. See the News & Updates page for further details.

Supplementary ECC1000 tutorials for CT7

For students enrolled in ECC1000 in 2009

If you are planning to use ECC1000, as indicated in the table above, to obtain exemption from actuarial subject CT7, you should register for additional tutorials in ECC1000. These tutorials are essential for an adequate coverage of the CT7 subject, and it is unlikely you can achieve an exemption without them.

These tutorials will cover utility theory, a topic not covered in economics lectures until 2nd year. It is, however, a necessary topic for actuaries to become familiar with at an early stage.

By registering via the following link, you will be notified later in the semester of when and where the tutorials will be held.