Overview

Modern finance relies on deep mathematical concepts and techniques, assembled in what has come to be known as financial mathematics or quantitative finance. Financial institutions have developed an ever-increasing appetite for graduates with the right mix of advanced quantitative methods and modelling. Monash offers a unique blend of expertise spread … For more content click the Read More button below.

Mode and location

On campus

Learning outcomes

These course outcomes are aligned with the Australian Qualifications Framework and Monash Graduate Attributes.

Upon successful completion of this course it is expected that you will be able to:

1.

apply critical thinking, problem solving, and research skills within the finance and insurance context

2.

apply sophisticated stochastic modelling skills within the context of financial markets and the insurance industry

3.

apply advanced statistical techniques and skills to the analysis of financial and insurance data

4.

utilise high-level computational methodology to tackle complex financial and insurance problems

5.

convey ideas and results effectively to technical and non-technical audiences alike and in a variety of formats

6.

work competently, independently and in a collaborative manner in an interdisciplinary professional context.

Structure

The course is structured in three parts: Part A. Orientation studies, Part B. Specialist studies, Part C. Applied professional practice. All students complete Part B. Depending upon prior qualifications, you may receive credit for Part A or Part C or a combination of the two.

Part A. Orientation studies

These studies provide an orientation to the field of financial mathematics. You will choose studies that complement your current knowledge relevant to financial mathematics, including principles of econometrics, mathematical methods and stochastic processes.

Part B. Specialist studies

These studies will provide you with advanced knowledge and skills relevant to thoughtful, innovative and evidence-based practice in financial modelling and analysis. You will acquire core knowledge of and skills in financial econometrics, and advanced mathematical modelling and computational methods in finance. You will complement these with study in areas of your choice, including interest rate modelling, Markov processes, statistical learning in finance, and global financial markets.

Part C. Applied professional practice

These studies will provide you with the opportunity to apply your knowledge skills developed in Part A and B to 'real life' problems, through completing an industry project or an industry internship. If you are admitted to the course with a recognised honours degree or graduate diploma or graduate certificate in a cognate discipline including mathematics or statistics, you will receive credit for this part however, should you wish to complete a 24 point research project you should consult with the course coordinator.

Course progression map

The course progression map provides guidance on unit enrolment for each semester of study.

Requirements
96 credit points

Part C: Applied professional practice24 credit points

Alternative exit(s)

You may exit this course early and apply to graduate with the following awards, provided you have satisfied the requirements for that award during your enrolment in the master's course:

  • Graduate Certificate in Financial Mathematics after successful completion of 24 credit points of study with at least 18 credit points of units at level 4 or above, including at least 12 credit points of core units from Part B and no more than 12 credit points of electives from Part B.
  • Graduate Diploma in Financial Mathematics after successful completion of 48 credit points of study with at least 36 credit points of units at level 4 or above, including at least 12 credit points of core units from Part B, plus at least 12 credit points of electives from Part B, plus a 12-point industry project, with the remaining 12 credit points taken from Part B.

Progression to further studies

Successful completion of this course may provide a pathway to graduate research degree. To be eligible to apply for entry into the higher degree by research, you must achieve a distinction average (70%) in Part B and Part C in the Master of Financial Mathematics.

If you achieve a high distinction average (80%) in Part B and Part C in the Master of Financial Mathematics you may be eligible to apply for a scholarship.

Organisational contact information

Telephone: 1800 MONASH (1800 666 274)

Send a question through ask.monash

Visit Science Student Services