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Curtin University

  • 28% international / 72% domestic

Master of Science (Actuarial and Financial Science)

  • Masters (Coursework)

Actuaries and financial mathematicians apply mathematical models and numerical tools to practical applications, such as financial markets. This course equips students with skills in finance, investment science, risk analysis, and credibility theory, preparing them for roles in insurance, banking, and risk assessment.

Key details

Degree Type
Masters (Coursework)
Duration
1.5 years full-time
Course Code
MC-ACTFNS, 054627G
Study Mode
In person
Intake Months
Mar, Aug
International Fees
$40,934 per year / $61,401 total

About this course

Overview

Actuaries and financial mathematicians apply mathematical models and numerical tools to practical applications, such as financial markets.

They gather statistical data on the financial decisions that people make. This provides a critical insight for business and government, helping them to make more informed decisions - especially in uncertain economic climates.

In this course, you will learn how to help organisations plan for the future and protect themselves from losses.

The core units cover the principles of finance, investment science, risk analysis and credibility theory. Optional units include practical mathematical financial modelling, applied statistics and numerical methods.

On completion of this course, your skills may be applied to insurance, pensions, healthcare, banking, business management and risk assessment. You may also play a role in determining company policy and explaining complex technical matters to company executives, government officials, shareholders, policyholders and the public.

Entry requirements

Admission criteria

What you need in order to get into this course. There are different pathway options depending on your level of work and education experience.

English requirements

Curtin requires all applicants to demonstrate proficiency in English. Specific English requirements for this course are outlined in the IELTS table below.

IELTS Academic (International English Language Testing System)

  • Writing: 6.0
  • Speaking: 6.0
  • Reading: 6.0
  • Listening: 6.0
  • Overall band score: 6.0

Other requirements and notes for this course

Specifically, applicants require a Honours degree or a four-year Bachelor degree in mathematics/statistics, science, engineering or finance. In addition, applicants must have basic mathematics and statistical background and competence equivalent to at least the level of MATH2009 Advanced Calculus and MATH2010 Linear Algebra. Unit information is available in the Online Handbook.

What you will learn

What you'll learn

  • use their exposure to a process of independently identifying a research problem and individually investigating and adapting as necessary a set of techniques to solve the problem
  • widen and deepen their high level of thinking skills by posing challenging problems that are relevant, motivational creative and reflective in the pursuit of well-structured syndicated programs
  • analyse, identify and use the relevant material in an Actuarial Control Cycle Format from a wide array of available data sources synthesise and process this data to ensure that the information is monitored in the light of a possibly changing problem, new information and or a change in technique
  • communicate effectively in ways to appropriately interpret technical and non-technical information to a varied audience, for a range of purposes and to a professional standard.
  • apply computer modelling software appropriately in statistics, finance, risk management, optimisation and other relevant areas recognising their capabilities and limitations and use appropriate technology to acquire data (e.g. internet based, library based) and present information, such as computer linked displays and internet linked overheads
  • evaluate one's own learning and develop a high degree of flexibility and creativity to adapt to change and to introduce exciting solutions to problems where focus is paramount in the learning process; maintain currency in professional practice
  • show a high level of awareness of nationally and internationally relevant developments and contemporary issues involving relevant International events; apply international standards of practice and evaluate issues from a variety of perspectives.
  • develop shared understandings of contemporary relevant issues which demonstrate a high and balanced level of cultural awareness in a diverse cultural setting
  • demonstrate, through self-leadership, a duty of care, honesty, integrity, fairness and knowledge of principles and law to uphold the ethical requirements of the profession

Career pathways

Graduates generally find employment with insurance companies, investment and superannuation funds, banks, stockbrokers and government agencies.

Credit for prior study or work

Finish your course sooner with credit for your previous study or work experience.

How to apply

Please review information on how to apply for the campus of your choice

Graduate outcomes

Graduate satisfaction and employment outcomes for Business & Management courses at Curtin University.
85.1%
Overall satisfaction
81.4%
Skill scale
72.6%
Teaching scale
86.8%
Employed full-time
$120k
Average salary