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Unit outline_

FMAT3888: Projects in Financial Mathematics

Semester 2, 2024 [Block mode] - Camperdown/Darlington, Sydney

Mathematics and statistics are powerful tools in finance and more generally in the world at large. To really experience the power of mathematics and statistics at work, students need to identify and explore interdisciplinary links. Engagement with other disciplines also provides essential foundational skills for using mathematical and statistical ideas in financial contexts and in the world beyond. In this unit you will commence by working on a group project in an area of financial mathematics or statistics. From this project you will acquire skills of teamwork, research, wring and project management as well as disciplinary knowledge. You will then have the opportunity to apply your disciplinary knowledge in an interdisciplinary team to identify and solve problems and communicate your findings.

Unit details and rules

Academic unit Mathematics and Statistics Academic Operations
Credit points 6
Prerequisites
? 
(MATH2070 or MATH2970) and (STAT2011 or STAT2911)
Corequisites
? 
None
Prohibitions
? 
None
Assumed knowledge
? 

STAT2X11, MATH2X70

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Marek Rutkowski, marek.rutkowski@sydney.edu.au
Lecturer(s) Igor Geninson, igor.geninson@sydney.edu.au
Zhou Zhou, zhou.zhou@sydney.edu.au
The census date for this unit availability is 2 September 2024
Type Description Weight Due Length
Presentation group assignment Discipline project presentation
Presentations made by groups
10% Week 07
Due date: 09 Sep 2024 at 10:00

Closing date: 20 Sep 2024
7 minutes
Outcomes assessed: LO2 LO3 LO4 LO5 LO6 LO7
Assignment Discipline project report
Reports written individually despite group work for the projects
40% Week 07
Due date: 09 Sep 2024 at 10:00

Closing date: 20 Sep 2024
8-13 pages
Outcomes assessed: LO2 LO3 LO4 LO5 LO6 LO7
Presentation group assignment Interdisciplinary project presentation
Presentations made by groups
10% Week 13
Due date: 28 Oct 2024 at 10:00

Closing date: 08 Nov 2024
7 minutes
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6 LO7
Assignment Interdisciplinary project report
Reports written individually despite group work for the projects
40% Week 13
Due date: 28 Oct 2024 at 10:00

Closing date: 08 Nov 2024
8-13 pages
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6 LO7
group assignment = group assignment ?

Assessment summary

Assessment will be based on the completeness, coherence, clearness, relevance, and novelty of the reports and presentations.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

Late submissions are not accepted, except for approved special consideration.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy 2023 reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy 2023. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

WK Topic Learning activity Learning outcomes
Multiple weeks Monte Carlo Method Lecture and tutorial (12 hr) LO2 LO3 LO4 LO5 LO6 LO7
Finite difference method Lecture and tutorial (12 hr) LO2 LO3 LO4 LO5 LO6 LO7
Modern portfolio theory Lecture and tutorial (10 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7
Utility maximisation and stochastic control Lecture and tutorial (12 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7
Group activities Workshop (19 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7
Week 13 No Description Block teaching (65 hr) LO1 LO2 LO3 LO4 LO5 LO6 LO7

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. Apply disciplinary knowledge to solve problems in an interdisciplinary context.
  • LO2. Find, define and delimit authentic problems in order to address them.
  • LO3. Create an investigation strategy, explore solutions, discuss approaches and predict outcomes.
  • LO4. Analyse data using modern information, technology and digital skills.
  • LO5. Demonstrate integrity, confidence, personal resilience and the capacity to manage challenges, both individually and in teams.
  • LO6. Collaborate with diverse groups and across cultural and disciplinary boundaries to develop solution(s) to the project problems.
  • LO7. Communicate project outcomes effectively to a broad audience.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered.

Work, health and safety

We are governed by the Work Health and Safety Act 2011, Work Health and Safety Regulation 2011 and Codes of Practice. Penalties for non-compliance have increased. Everyone has a responsibility for health and safety at work. The University’s Work Health and Safety policy explains the responsibilities and expectations of workers and others, and the procedures for managing WHS risks associated with University activities.

General Laboratory Safety Rules

  • No eating or drinking is allowed in any laboratory under any circumstances 

  • A laboratory coat and closed-toe shoes are mandatory 

  • Follow safety instructions in your manual and posted in laboratories 

  • In case of fire, follow instructions posted outside the laboratory door 

  • First aid kits, eye wash and fire extinguishers are located in or immediately outside each laboratory 

  • As a precautionary measure, it is recommended that you have a current tetanus immunisation. This can be obtained from University Health Service: unihealth.usyd.edu.au/

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.