Being the leading provider of actuarial education for over 50 years, we have a strong research program focusing on the practical application of advanced quantitative techniques.
This involves model-building and sophisticated analytical approaches for strategic innovation in insurance, finance, economics, and business.
Our groundbreaking research puts us at the forefront of our disciplines in Australia and internationally.
Department of Actuarial Studies and Business Analytics
4 Eastern Road
North Ryde NSW 2109
Office hours: 9am - 5pm (Mon to Fri)
Our collaborative research includes the three key specialist networks below:
Risk, data analytics and insurance
Modelling and management of risk is crucial to ensure the financial security and prosperity of individuals and the effective operation of insurance and financial markets. The rise of Big Data and well-publicised issues around global data security increase the need for new analytic techniques to model, price, analyse and manage financial risks, in addition to creating major changes in the nature of insurance and financial products and services.
This research network develops and applies innovative quantitative and data analytic techniques to model and manage financial risk. Projects have included modelling and forecasting of disability, mortality and longevity risk, valuation of insurance products, and risk management strategies including reinsurance, hedging and risk control.
Financial mathematics and actuarial mathematics
Financial mathematics and actuarial mathematics draw on techniques and methodologies from disciplines such as pure mathematics, statistics, economics, finance and computing to solve theoretical and applied problems within the finance and insurance industries.
The two research fields have traditionally been closely linked and their interactions have led to the development of many theories and models which deepen our understanding of some of the major problems faced by those industries.
The aim of this research network is to challenge conventional thinking in its exploration of the interactions between financial mathematics and actuarial mathematics and advance global understanding in these and other related quantitative research fields. Examples of research topics on which we focus include:
- option pricing and hedging
- quantitative risk measurement and management
- optimal asset allocation
- statistical models in finance and insurance
- life insurance mathematics
- non-life insurance mathematics
- pension fund mathematics
- advanced quantitative analytics.
Commodity and energy markets
Mining and the export of natural resources are vital contributors to the Australian economy. Commodity and energy prices are highly dependent on expectations about economic growth but also on climate change adaptation policies that might promote greater use of renewable resources for energy production.
This research network focuses on the economic and financial analysis of commodity markets, particularly econometric and analytical techniques and their practical application to commodity, energy, weather derivative and carbon emission markets. It aims to describe the complex behaviour and structure of these markets and to quantify financial and economic risks. The network also aims to define the impact of renewable energy policies on Australian commodity and financial markets.
Risk Analytics Lab
The Risk Analytics Lab at Macquarie University is a cross-disciplinary research team collaborating with academia and industry on innovative risk analytics solutions across several domains: finance, economics, energy, insurance, demography, superannuation and environmental finance. Learn more about our Risk Analytics Lab.
Associate Professor Tim Kyng is a researcher in the Department of Actuarial Studies and Business Analytics. Tim’s research deals with the assessment of risk using sophisticated computer-based mathematical models and their application, such as pricing stock options and comparison of retirement village contracts for consumers. Kyng has worked in the financial services industry for several years, gaining experience in investment, banking, and insurance.
Retirement village calculator
The retirement village (RV) calculator is a significant project funded by Financial Literacy Australia involving a free online financial calculator that helps senior citizens understand retirement village contracts and compare different offerings. This multi-disciplinary project involved actuarial science, financial modelling, programming, legal issues, communication of complex ideas and evaluation of the impact on consumer’s financial literacy and decision making.
The free calculator, available at www.rvcalculator.mq.edu.au, takes the complex range of fees and calculates a simple ‘equivalent monthly rent’ for the years of residence, simplifying an often-complex fee structure and helping consumers to easily compare the costs of different retirement villages.
Masters programs and PhDs
Macquarie Business School is investing in developing top researchers and we invite you to join us.
Macquarie’s core pathway to higher degree research study is the international standard two-year research training pathway leading to the Master of Research.
The Master of Research equips students with intensive research preparation before beginning a PhD.
Find out more about our Masters programs and PhDs.
Content owner: Department of Actuarial Studies and Business Analytics Last updated: 20 Feb 2020 8:59am