Master of Commerce (Actuarial Science) (CRICOS course code 089805E) is a Masters Degree (Coursework) delivered by The University of Melbourne (UniMelb) over 1 year 6 months (~78 weeks). This program is designed for students seeking advanced knowledge in actuarial science, combining statistical methods, financial mathematics, and risk management. As one of Australia's leading universities, UniMelb offers a rigorous curriculum that prepares graduates for professional roles in insurance, banking, and finance. Situated in Parkville, Victoria, the university provides access to a vibrant academic community and industry connections. All data on this page is sourced from the official CRICOS register (April 2026), ensuring accuracy and trustworthiness. Whether you are an international student exploring study options or planning your pathway, this page gives you the essential facts to make an informed decision.
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Master of Commerce (Actuarial Science) (CRICOS course code 089805E) is a Masters Degree (Coursework) delivered by The University of Melbourne (UniMelb) over 1 year 6 months (~78 weeks). This course is classified under the field of 08 - Management and Commerce, specifically 0811 - Banking, Finance and Related Fields, with a focus on Insurance and Actuarial Studies (081103). It is a single qualification with no work component. The University of Melbourne is a government-owned institution (CRICOS 00116K) and one of the Group of Eight universities, consistently ranked among the top globally. The course is taught entirely in English and is available to international students who meet entry requirements. As a CRICOS-registered course, it comes with ESOS Act protections, ensuring quality education and student rights.
Graduates of this program typically develop advanced skills in actuarial modeling, data analysis, risk assessment, and financial decision-making. The curriculum covers areas such as probability theory, stochastic processes, actuarial statistics, and financial mathematics. Students learn to apply these techniques to real-world problems in insurance, superannuation, investment, and banking. While specific syllabi vary, the course aligns with professional accreditation requirements from bodies like the Actuaries Institute Australia. The field of Insurance and Actuarial Studies is integral to managing financial risk, and this degree prepares students for roles as actuaries, risk analysts, or financial consultants. Practical projects and industry case studies are often incorporated to bridge theory and practice.
The Master of Commerce (Actuarial Science) is a full-time program lasting 1 year 6 months (~78 weeks), as recorded on the CRICOS register. The language of instruction is English. This is a single qualification with no dual award or foundation studies component. Students are expected to maintain full-time enrolment to meet visa requirements. The course may be delivered through a combination of lectures, seminars, and independent study. Attendance at the Parkville campus is required. International students should factor in the duration when planning their stay, as it affects visa validity and OSHC coverage.
The indicative tuition fee for this course is A$94,538, with non-tuition fees of A$150, making an estimated total of A$94,688. Please note that Overseas Student Health Cover (OSHC), living costs, and the visa application charge are separate and not included in this amount. For a single student, OSHC typically costs between A$500 and A$700 per year. Living expenses in Melbourne are estimated at around A$24,000–A$30,000 per year, including rent (approximately A$250–A$400 per week), groceries, and transport. These figures are indicative only and subject to change. The University of Melbourne sets the final fees; always check their official website for the most current information. As a CRICOS-registered provider, UniMelb is required to publish accurate fees on the register.
International applicants typically need an IELTS overall score of 6.5–7.0 (with no band below 6.0–6.5) or equivalent English language test results. A bachelor's degree in a relevant discipline (e.g., commerce, mathematics, statistics, or actuarial studies) with a strong academic record is usually required. Some prior quantitative background may be expected. The University of Melbourne may also consider professional experience or other qualifications. Foundation or pathway options are not part of this course; however, the university offers pathway programs for students who need additional preparation. Always verify specific requirements with the provider, as they can change. Meeting minimum entry does not guarantee admission.
No work component — This course does not include a mandatory work component. However, as a student visa holder, you may be eligible to work up to 48 hours per fortnight during term time and unlimited hours during scheduled breaks, subject to visa conditions. Practical experience can be gained through internships or casual work, but these are not part of the formal curriculum.
The Master of Commerce (Actuarial Science) is delivered at The University of Melbourne — Parkville, VIC. Parkville is a suburb just north of Melbourne's central business district, home to a large student population and excellent public transport links (trams and trains). Melbourne has over 50 CRICOS-registered providers offering a wide range of courses, contributing to a diverse international student community of about 200,000. The city is known for its cultural diversity, coffee culture, and vibrant arts scene. Living costs in Melbourne are slightly higher than the national average, but students can manage with careful budgeting. Access to campuses is convenient via public transport, and many students cycle or walk.
International students enrolling in this course must hold a Student visa (Subclass 500). Key requirements include: being accepted into a CRICOS-registered course, demonstrating genuine temporary entrant (GTE) intent, maintaining Overseas Student Health Cover (OSHC), and showing sufficient financial capacity to cover tuition, living costs, and travel. Student work rights allow 48 hours per fortnight during term and unlimited hours during scheduled breaks. The visa also includes conditions around attendance and academic progress. It is essential to understand your visa obligations; HeadStart Academy recommends consulting the Department of Home Affairs or a registered MARA migration agent for personalised advice. ESOS Act protections apply to all courses, guaranteeing education quality and refund policies.
Follow these three steps to apply for Master of Commerce (Actuarial Science) at The University of Melbourne: 1. Research CRICOS-registered providers – Use HeadStart Academy's tools to filter by course level (Masters Degree), field (Insurance and Actuarial Studies), and location (Melbourne). Confirm the course CRICOS code 089805E is still active. 2. Apply directly to your chosen institution – Visit the University of Melbourne's website to review entry requirements, submit your academic transcripts, English test scores, and any other documents. Pay attention to application deadlines, which may be several months before the course start date. 3. Receive your Confirmation of Enrolment (CoE) and apply for your Student visa (Subclass 500) – Once accepted, the university will issue a CoE. Use this to apply for your visa online via the Department of Home Affairs. Include OSHC and financial evidence.
Melbourne is Australia's second-largest city and a top study destination, offering a high quality of life and strong job market. With over 50 CRICOS-registered providers and a multicultural population of over 5 million, it provides ample networking and cultural opportunities. The cost of living is moderate; indicative weekly rent for a shared apartment is A$200–A$350, groceries A$80–A$120, and a monthly public transport pass about A$150. The city is known for its events, food, and arts scene. However, consider the weather (cool winters) and competition for housing near universities. For actuarial science, Melbourne hosts major financial institutions and insurance companies, offering potential internship and career prospects. Weigh these factors against other Australian cities like Sydney or Brisbane.
Ready to take the next step? Use HeadStart Academy to explore CRICOS-registered providers and start your application for Master of Commerce (Actuarial Science). Follow the 3-step process above and begin your journey in Australia.
View the full The University of Melbourne (UniMelb) profile →
Master of Commerce (Actuarial Science) is a CRICOS-registered programme at The University of Melbourne (UniMelb). Use this register extract [CRICOS register, Apr 2026] to cross-check codes, duration and indicative fees before you apply.
This page is general information only and not migration advice. Confirm Student visa (Subclass 500) requirements with the Department of Home Affairs.