Major type

Undergraduate

Description

This major is a second major option for the Bachelor of Commerce (Liberal Studies) and is offered by the Faculty of Science.

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

Students intending to complete a major in Financial Mathematics must complete at least 12 credit points in prerequisite junior Mathematics units of study selected from the following:

• MATH1001 Differential Calculus; ORMATH1901 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)*

For a major in Financial Mathematics, students shall complete at least 42 credit points in intermediate and senior units of study, comprising:

1. 18 credit points of intermediate 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)
2. At least 24 credit points of senior units of study. comprising of:
   • 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

   AND one of the following units of study:

   • INFO3404 Database Systems 2; OR INFO3504 Database Systems 2 (Adv)
   • MATH3067 Information and Coding Theory
   • MATH3076 Mathematical Computing; OR MATH3976 Mathematical Computing (Advanced)
   • MATH3078 PDEs and Waves; OR MATH3978 PDEs and Waves (Advanced)
   • STAT3013 Statistical Inference; OR STAT3913 Statistical Inference Advanced
   • STAT3014 Applied Statistics; OR STAT3914 Applied Statistics Advanced

   * Note: ECMT1010 is a prohibition for these units. If students are intending to complete a Econometrics or Management Decision Sciences major as well as a Financial Mathematics major they should enrol in ECMT1010 and choose an alternative junior unit rather than MATH1005/MATH1905 for their Financial Mathematics 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 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 availabily of this major apply. Its availabily is subject to the credit point restrictions on units from other faculties in course rules of these degrees and restrictions based on other compulsory requiresments of these degrees).

• Bachelor of Commerce
• Bachelor of Commerce/Bachelor of Science
• Bachelor of Economics

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.

• Bachelor of Commerce (Liberal Studies) (FH019)