Financial Mathematics and Statistics
Study in the discipline of Financial Mathematics and Statistics is offered by the School of Mathematics and Statistics in the Faculty of Science. Units of study in this major are available at standard and advanced level.
Program structure and content
This is an interdisciplinary major offered in the Faculty of Science consisting of several core units and a number of elective units from mathematics, statistics and information technologies. The program is designed to meet the need for high level quantitative and modelling skills in the banking, insurance, stockbroking and finance industries without constraining students to a full major in mathematics or statistics. Graduates with specifically strong mathematical and statistics backgrounds are in very high demand. The core units Optimisation and Financial Mathematics (MATH2070/2970) and Financial Mathematics (MATH3075/3975) are the backbone of the program and introduce the student to important financial concepts within a mathematical and statistical framework. The core mathematics and statistics units provide the technical base that is required by a quantitative analyst, while the elective units offer the student increased flexibility and additional opportunities to develop related skills.
Advanced units have more stringent prerequisites than standard units, and are significantly more demanding. Although the precise requirements vary from unit to unit, it is generally inadvisable for a student who has not achieved a Credit average in intermediate level mathematics to attempt an advanced senior mathematics unit.
First year planning for a Financial Mathematics and Statistics major
Essential: 12 credit points of Junior MATH.
Recommended: MATH1001/1901/1906, MATH1002/1902, MATH1003/1903/1907, MATH1005/1905 and 24 credit points of other Junior units of study. Each of the above units of study may be replaced by the corresponding Advanced unit of study.
Requirements for a major
Senior units of study
At least 24 credit points comprising the following units of study:
(i) MATH3075/3975, STAT3011/3911 and STAT3012/3912, and
(ii) One of the following units of study: STAT3013/3913, STAT3014/3914, MATH3076/3976, MATH3078/3978, MATH3969, MATH3974 or INFO3404/3504
Students completing the program at the Advanced Level may continue into fourth-year honours in Applied Mathematics or Mathematical Statistics where a number of further Financial Mathematics and Statistics units are on offer (NB to proceed to honours in either Applied Mathematics or Pure Mathematics, students need to have a major in mathematics). It is envisaged that students completing the Honours program will not only be highly trained in quantitative finance, but will also be well prepared for active research in the field. Students should refer to Table 1 for an enrolment guide and to entries under the contributing schools for unit of study descriptions.
Applied Mathematics contact:
Dr Robert Marangell
T +61 2 9351 5795
Dr Uri Keich
T +61 2 9351 2307
First year enquiries email:
Other undergraduate enquiries email:
All enquiries phone: +61 2 9351 5804 or +61 2 9351 5787