Overview

Financial and insurance mathematics is taught jointly by the School of Mathematical Sciences and the Faculty of Business and Economics, to ensure you develop high-level technical and analytical skills that are applicable in the workplace. Experts in this area use mathematical and statistical techniques to understand and assess risk in … For more content click the Read More button below. The extended major in financial and insurance mathematics was introduced at Monash University in response to the national and international shortage of skilled workers in the finance and insurance industries, most notably workers with a rigorous mathematical training. Financial and insurance mathematics is tailored to prepare you for working in the banking industry, investment firms, insurance companies, and in risk-management roles. However, like other mathematics graduates, you may also work for the Australian Bureau of Statistics, the Commonwealth Scientific, Industrial and Research Organisation (CSIRO), or in business analyst roles, universities, or management consultancy. Availability Financial and insurance mathematics is listed in S2000 Bachelor of Science, S3001 Bachelor of Science Advanced - Global Challenges (Honours) and S3002 Bachelor of Science Advanced - Research (Honours) at Clayton as an extended major.

Requirements for progressing to honours and other further studies

You must meet the entry requirements for S3701 Bachelor of Science (Honours), M5021 Graduate Diploma of Health and Science Research or meet the progression requirements to the fourth year of S3002 Bachelor of Science Advanced - Research (Honours).

You must also complete prerequisite study as per the intended discipline. Refer to the honours prerequisites table.

Learning outcomes

In addition to achieving the broad outcomes of your course, and successfully completing this area of study, you will be able to:

1.

Display basic knowledge and key technical skills in advanced calculus and linear algebra as well as high-level knowledge of and skills in the important techniques, terminology and processes of probability, statistics and stochastic processes as appropriate to financial and insurance mathematics;

2.

Develop, apply, integrate and generate knowledge through abstraction and insight, and use high-level critical thinking skills to analyse, use and interpret the mathematics that arises across a range of problems in financial and insurance mathematics, including financial and risk models;

3.

Demonstrate skills in the written presentation of a mathematical argument that enable mathematical, financial and insurance concepts, processes and results to be communicated effectively to diverse audiences

Requirements
72 credit points

Mathematics requirement12 credit points
Level 1 science sequence12 credit points
Level 2 and 3 core units54 credit points
Financial and insurance mathematics elective units6 credit points

Contacts

Coordinator(s)

Associate Professor Kais Hamza