Macq Actuarial > UNSW Actuarial
Macq's had actuarial studies for the longest in australia and are pretty much the default place to study actuarial, UNSW seems to be the "new kid on the block" with regards to actuarial (or maybe it's just me???)
Plus you can get Part II's at macq, while at UNSW its alot harder to do (you have to do it through honors)
But to be perfectly fair, i don't think it really matters, because both unis pretty much teach you the same thing to gain the same qualifications
Quality of students would be a tough call, although i'd say UNSW on average has students with higher UAIs, BUT there are some FREAKISHLY smart people doing actuarial at macq
UNSW campus >>>> Macq Campus
No questions asked, you can see the money being thrown at UNSW;s facilities , macq is just out of its league with regards to facilities, buildings etc
Employment: dunno , maybe ask in 3 years or so
Flexibility: with both uni's you'll probably be put in a class with only one stream, so it's just down to luck with regards to timetables
Other Thoughts: Think about where you live, it makes quite a difference commuting to each uni, if you live close to a uni, you should probably attend that one.
If you're dead set on actuarial, its probably better to go to macq as its got IMHO a better course and if you can get 12k a year scholarship if you have a really nice UAI ( which makes my one look a little dowdy)
However, if you're unsure about actuarial, go to UNSW , because if you drop out you can atleast fall back on something decent, while at macq you're in a tight bind.
BTW if you get the co op for UNSW, go to UNSW, you'll have a VERY high chance of employment when you finish your degree.