Honours
The Discipline of Finance Honours Coordinator is Andrew Lepone.
Reasons for Undertaking Honours in Finance
An honours degree in finance at the University of Sydney is a very prestigious and highly sought after qualification.The Finance Honours programme was introduced in 1996. Since this time, the Discipline has graduated over 150 honours graduates. This elite group of alumni have gone on to excellent graduate positions with leading Investment Banks, Investment Management, Private Equity firms and other financial services organisations. A number of these students have also undertaken PhDs in Finance.
The honours year is an extremely challenging and rewarding year. It provides students with the opportunity to study with a select group of students and to work one-on-one with an academic supervisor to develop problem solving and analytical skills.
During the honours year, students work on a research thesis which allows them to develop expertise in a specific area of finance. It also provides students with considerable research experience and allows them to develop their writing skills and to develop and structure ideas. Much of the honours year involves independent learning which requires students to be highly self-motivated. Students must also develop time management skills.This experience is critical for successful careers after the honours year.
Preparation for Final Honours Year
Preparatory Units of Study for Eligibility for Final Honours Year
There are 3 honours preparatory units offered in preparation for the Final Honours Year, each worth 3 credit points:
- Finance 2192: Finance 2 Honours (Corporate Finance)
- Finance 3193: Finance 3 Honours (Corporate Finance)
- Finance 3194: Finance 3 Honours (Securities Markets)
These units are not pre-requisites for the Final Honours Year, however they are strongly encouraged.
Students should be aware that to be considered for the Finance Honours Scholarships they must complete some of the preparatory honours units.
A call for applications for honours preparatory units of study will be made at the end of each semester for those units of study offered in the following semester. Students will be notified of the outcome of their application by the first week of semester.
The minimum entry requirement for Finance 2 Honours is 70 in FINC 2011 and a credit WAM overall. The minimum entry requirement for Finance 3 Honours is a credit WAM overall and a 70 WAM in Finance. Students are reminded that these are the minimum entry standards. Places are limited and entry is competitive, so actual requirements may be higher than these minimums.
How Preparatory Units of Study Fit into Majors
Students are expected to have a major in Finance to be eligible for honours. The preparatory units of study may count towards a Finance Major.
Eligibility for Final Honours Year Without Having Taken the Prerequisite Units of Study at Sydney University
Generally students with a Distinction average in an undergraduate degree from the University of Sydney are eligible to apply to study honours in Finance. The second and third year honours preparatory unit are strongly recommended but not essential. However, students should be aware that to be considered for the Finance honours scholarships students must complete some of the preparatory honours units.
Students external to the University interested in applying should contact the Finance Honours Coordinator.
Download Applications
- Final Honours Year Application Form - The closing date for applications for Final Honours Year is the last working day in November.
- Application to Finance Pre-Honours Year Program
Entry Requirements
Entry into honours is highly competitive and places are limited. The minimum entry requirements are an overall WAM of at least 65 in senior units of study and a Finance WAM of 70.
The second and third year preparatory honours units are not essential but are strongly recommended.
Final Honours Year in Finance
Objectives of Final Honours Year in Finance
The objective of the Honours Year is to produce high quality graduates who are capable of securing employment with leading employers in the financial services sector or undertaking advanced research degrees (Masters or PhD) at leading universities. During the year students will enhance their research and analytical skills and develop strong problem solving skills. Students will also improve their ability to work independently and to manage projects.
Structure
The Final Honours Year program is a full time year of study commencing in semester one of the given year where students develop high level research and analysis skills. The program comprises two components: course work and a thesis.
The course work component comprises 4 units of study which are completed in semester 1:
- Research Methods;
- Econometrics;
- Advanced Corporate Finance; and
- Market Microstructure.
Note: Those students who have an econometrics or statistics major may, in consultation with the honours coordinator, substitute Advanced Asset Pricing for the econometrics unit.
Students work on their thesis over the whole year, although a significant component of the work is completed in semester 2. The thesis is an extended piece of research in a specific area of finance. The thesis should be written in the format of an academic journal article, but with a more extensive literature review. The thesis is written under the direct supervision of an academic staff member. The role of the supervisor is to guide the topic selection, to assist in formulating the research hypotheses and executing the research and to ensure the overall direction of the research.
Students are encouraged to make contact with academic staff shortly after accepting their offer into the honours programme in order to begin the process of finding a suitable thesis topic.
Students are also expected to attend the Discipline of Finance Seminars on Friday mornings.
Double or Joint Honours
Double or joint honours is possible, but very uncommon due to the number of pre-requisite units of study required by the two different Disciplines for entry into their honours programmes. Students wishing to do joint or double honours with another discipline must consult the Honours Coordinators from both Disciplines before submitting their application.
Where double or joint honours are allowed arrangements need to be along the following lines. Double honours involves completing all the honours requirements in Finance, for instance and one other subject and thus normally takes an additional year. In joint honours the two subjects are more generally closely related and a special program of study is designed for fourth year. This will usually entail doing approximately half the final honours requirements for Finance and half for some other subject.
Theses Submission
Theses are due on the last Friday before Stu Vac at 4.00pm. Two soft-bound copies of the thesis must be submitted.
Examination/Assessment of Theses
Final Honours grades comprise a 40% weighting on 4th year course work and a 60% weighting on the 4th year thesis. Each of the four courses is equally weighted.
The final grade of honours will be determined on the following University scale:
| 90 + | Considered for University Medal |
|---|---|
| 80 - 100 | First Class |
| 75 - 79 | Second Class, Division 1 |
| 70 - 74 | Second Class, Division 2 |
| 65 - 69 | Third Class |
| Below 65 | Honours not awarded |
The Faculty may award a university medal to suitably qualified candidates; this takes into account the whole academic career as well as the Final Honours Year. The criteria are very strict. Students should note that being the top student does not automatically mean one receives a medal.
Careers Information
All notices concerning Finance Final Honours Year, information about employment opportunities, scholarships etc. will be posted on the Finance notice board outside to the Finance Office (Room 402, Economics and Business Building).
Scholarships
In addition to the University of Sydney honours scholarships and other Faculty scholarships, the Finance Discipline at the University of Sydney offers up to 5 scholarships of $5,000 each for honours students annually. To be eligible for these scholarships students must have completed their undergraduate degree at the University of Sydney, have at least a credit average and have completed at least one of the preparatory honours units. Only Australian citizens and permanent residents can be considered for these scholarships.
Scholarships will be awarded to students with the strongest academic performance in Finance. This will be assessed using the student's average grade in the best 5 of the following subjects:
- Finance 2011: Corporate Finance 1;
- Finance 2012: Corporate Finance 2 or Finance 2013: Introductory Mathematical Finance;
- Finance 2192: Finance 2 Honours;
- Finance 3193: Finance 3 Honours (Corporate Finance);
- Finance 3194: Finance 3 Honours (Securities Markets); and
- Best 2 grades in third year Finance courses.
If you wish to be considered for an honours scholarship please note this in your application.
All decisions regarding Honours Scholarships will be announced by mid February.
The Gilles Kryger Honours Scholarship in Finance
Commencing in 2008 the Gilles Kryger Honours Scholarship is open to students commencing Final Honours Year in Finance. Students are short-listed based on academic merit and then given the opportunity to submit a research assignment. Applications open in December when more information will be available on the Faculty Scholarships web page.