Overview
Mode and location
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:
apply critical thinking, problem solving, and research skills within the finance and insurance context
apply sophisticated stochastic modelling skills within the context of financial markets and the insurance industry
apply advanced statistical techniques and skills to the analysis of financial and insurance data
utilise high-level computational methodology to tackle complex financial and insurance problems
convey ideas and results effectively to technical and non-technical audiences alike and in a variety of formats
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.
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 stochastic calculus, quantitative risk management, interest rate modelling and computational methods in finance. You will complement these with study in areas of your choice, including financial econometrics, Markov processes, statistical learning in finance, and machine learning.
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. For those who achieve a distinction average (70%) in Part B, you can complete a major industry project or industry internship. For those who do not meet this requirement, you can complete a minor industry project or industry internship, as well as taking additional elective units from mathematics, business/economics and IT, to further supplement your studies. If you are admitted to the course with a recognised honours or equivalent in 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.
Masters entry points
Depending on prior qualifications you may receive entry level credit (a form of block credit) which determines your point of entry to the course:
- If you are admitted at entry level 1 you complete 96 credit points, comprising Part A, Part B and Part C
- If you are admitted at entry level 2 you complete 72 credit points, comprising Part B and Part C
- If you are admitted at entry level 3 you complete 48 credit points, comprising Part B.
Note: If you are eligible for credit for prior studies you may elect not to receive the credit and complete one of the higher credit-point options.
Course progression map
The course progression map provides guidance on unit enrolment for each semester of study.
Requirements
96 credit points
Alternative exit(s)
You may exit this course early and apply to graduate with one of the following awards, provided you have satisfied the requirements for that award during your enrolment in this master's course:
- Graduate Certificate of Financial Mathematics (S4001) after completion of 24 credit points with a minimum of 18 credit points from Part B in the Master of Financial Mathematics, including at least 12 credit points of Part B core units.
- Graduate Diploma of Financial Mathematics (S5001) after completion of 48 credit points with a minimum of 36 credit points from Part B in the Master of Financial Mathematics, including at least 24 credit points of Part B core units.
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.
Course director(s)
Organisational contact information
Telephone: 1800 MONASH (1800 666 274)
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