Actuary course structure

[vcestudent94]

I want to do actuarial studies at Melbourne but I'm looking to structure my first year as flexible as possible to allow me to change pathways if I don't feel it is for me. In particular I would change to a standard finance degree with the intention of mastering in engineering (civil) in 4th and 5th year. I need help on how to do this. I meet all the prerequisites including the 38+ in specialist for accelerated maths 1&2. So what would my course look like? What breadths would I choose in order to easily change to a commerce/engineering degree after 1st year or even after 1st semester. Thanks in advance for any help

[Jenny_2108]

I dont know about it much (probably someone else on AN know this better than me)

My friend is studying actuary at UoM and she said if you changed your major from actuarial to finance, economics,etc after sem 1 or 1st year, it wouldnt affect a lot because they mostly overlap
You just need to cover core subjects of your new major and the subjects you already finished in sem 1 or 1st year of actuarial can be considered as your elective subjects

[vcestudent94]

Another question: if transferring after during first year is based on averages, shouldn't I pick easier subjects such as calculus 2 instead of accelerated mathematics? Or does the university take into account that it is harder to maintain a harder average in AM instead of Calc 2?

[Greatness]

1st year actuarial is really restricted.
Semester 1:
Accounting reports analysis
Calculus 2/AM
Intro Micro
Comm elective or Breadth

Semester 2:
Accounting transactions analysis
Intro Macro
Linear algebra/AM
Intro Actuarial studies ( you could do something else here instead but I highly recommend you take this unit)

You get 1 free choice in 1st year. I think you only get 2 or 3 more units that you can choose after 1st year.
For the engineering stream you need to do Calc 2/Linear algebra or the AM stream & Engineering systems design 2 (ESD2) - this is for Civil, Mechanical, Electrical and maybe a couple of others. So if you want to change to finance/eng after 1st year then all you need to do is take ESD2 during summer semester between 1st/2nd year.

I did Finance 1 for that 1st semester breadth/elective. There isn't anything that will set you up for engineering, but you could do Engineering systems design 1 or physics or something. Whatever really. (Chemical and a couple of other streams require different subject setups)

[vcestudent94]

1st year actuarial is really restricted.
Semester 1:
Accounting reports analysis
Calculus 2/AM
Intro Micro
Comm elective or Breadth

Semester 2:
Accounting transactions analysis
Intro Macro
Linear algebra/AM
Intro Actuarial studies ( you could do something else here instead but I highly recommend you take this unit)

You get 1 free choice in 1st year. I think you only get 2 or 3 more units that you can choose after 1st year.
For the engineering stream you need to do Calc 2/Linear algebra or the AM stream & Engineering systems design 2 (ESD2) - this is for Civil, Mechanical, Electrical and maybe a couple of others. So if you want to change to finance/eng after 1st year then all you need to do is take ESD2 during summer semester between 1st/2nd year.

I did Finance 1 for that 1st semester breadth/elective. There isn't anything that will set you up for engineering, but you could do Engineering systems design 1 or physics or something. Whatever really. (Chemical and a couple of other streams require different subject setups)

Thanks. and what's the average that you need to be eligable for a transfer? Isn't wiser to do an easier maths stream in calc 2 & lin algebra rather than AM purely for higher averages?

[Greatness]

75 average for Calc2/LA and 65 for AM to continue 2nd year actuarial, yeah it is, but doing AM is recommended and probably more suitable stream since you learn real analysis and some other stuff which compliments your knowledge and what not.
Also, it's not a 'transfer' so to speak. You'll just be changing majors and there are no grade requirements for that. You'll only have to satisfy the prerequisite units for 2nd/3rd year units of that major.