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The Actuary The magazine of the Institute & Faculty of Actuaries

New CT7 change

The syllabus and core reading for CT7 will change significantly for the exams from April 2010 onwards. The reason for the change is to reflect the need for tomorrow’s actuaries to be well versed in understanding their clients’ business.

CT7 will be renamed ‘Business Economics’ and the emphasis will be on economics in a business context. The scope of economic theory covered will be similar to that in the current CT7 but the change of focus is intended to make the subject more accessible to students and more useful in their work. For example, the subject will concentrate on the ways firms compete and will link more effectively with the CT9 Business Awareness course. The course aims to put the study of economics into a practical business framework and will continue to include both micro- and macro-economic topics.

The core reading will link to a standard textbook, Economics for Business by Sloman & Hinde, which is part of a family of well-established textbooks used by universities. The book is accompanied by a range of online material which will be a source of additional (non-examinable) information for students including up-to- date case study material.