Financial Mathematics and Statistics (Faculty of Science) (Undergraduate)
Description
This is an interdisciplinary major offered by the Faculty of Science and consists of several core units and a number of elective units from mathematics, statistics and information technologies. The Financial Mathematics major is designed to meet the need for high level quantitative and modelling skills in the banking, insurance, stockbroking and finance industries. Graduates with strong mathematical and statistics backgrounds are in demand. Core units of study in Financial Mathematics introduce students to important financial concepts within a mathematical and statistical framework. Core mathematics and statistics units of study provide the technical base that is required by a quantitative analyst, while the elective units of study offer increased flexibility and additional opportunities to develop related skills.
Requirements for the major
For the award of a major in Financial Mathematics, students complete:
(i) a minimum of 12 credit points in prerequisite junior Mathematics units of study selected from the following:
- MATH1001 Differential Calculus or MATH1901 Differential Calculus (Advanced);
- MATH1002 Linear Algebra or MATH1902 Linear Algebra (Advanced);
- MATH1003 Integral Calculus and Modelling or MATH1903 Integral Calculus and Modelling Advanced
- MATH1005 Statistics* or MATH1905 Statistics (Advanced)*
(ii) 18 credit points of compulsory intermediate (2000-level) units of study, comprising of the following:
- MATH2070 Optimisation and Financial Mathematics or MATH2970 Optimisation and Financial Mathematics Adv
- STAT2011 Statistical Models or STAT2911 Probability and Statistical Models (Adv)
- STAT2012 Statistical Tests or STAT2912 Statistical Tests (Advanced)
(iii) six credit points of elective intermediate (2000-level) MATH units of study. Refer to the intermediate MATH units of study listed in the Faculty of Science Handbook under the Mathematics subject area.
(iv) 18 credit points of compulsory senior (3000-level) units of study,comprising:
- MATH3075 Financial Mathematics or MATH3975 Financial Mathematics (Advanced)
- STAT3011 Stochastic Processes and Time Series or STAT3911 Stochastic Processes and Time Series Adv
- STAT3012 Applied Linear Models or STAT3912 Applied Linear Models Advanced.
(v) six credit points in elective senior (3000-level) units of study selected from the options specified under the Financial Mathematics major in the Faculty of Science Handbook.
* BUSS1020 and ECMT1010 are prohibitions for these units. If students are intending to complete an Econometrics or Quantitative Business Analysis major as well as a Financial Mathematics major students would enrol in BUSS1020 or ECMT1010 and choose an alternative junior unit rather than MATH1005/MATH1905 for their Financial Mathematics major.
Note: Intermediate and senior units of study can only count towards the requirements for one major. Intermediate and senior units cannot be "double counted" towards two majors.
The details of compulsory and elective units of study which are available for the current year can be found on the University's Unit of Study Handbook or from the Faculty of Science website.
Availability of this major
This major is one of the secondary required major options available for Bachelor of Commerce (Liberal Studies) students.
Students may also be able to complete this major under the following degrees. (Restrictions on the availably of this major apply. Its availably is subject to the credit point restrictions on units from other faculties in course rules of these degrees and restrictions based on other compulsory requirements of these degrees).
- Bachelor of Commerce
- Bachelor of Commerce and Bachelor of Science
- Bachelor of Economics (pre-2011 continuing students)
Units of study in this major
The details of compulsory and elective units of study which are available for the current year can be found on the University's Unit of Study Handbook or from the School of Mathematics and Statistics website.