MJRH-ADFMA v.2 Financial Mathematics Major (BAdvSci) (Honours)

This major/stream is part of a larger course. Information is specific to the major/stream, please refer to the course for more information.

This honours level major provides a flexible and personalised approach to studying financial mathematics with students able to explore the field through opportunities for immersive research experiences, industry placement and team-based projects. The major culminates in a personalised capstone experience. Mathematics is the study of concepts such as quantity, structure, space and change and to use these concepts to model and describe the behaviour of real world complex systems. It has been described as the science of patterns, whether found in numbers, space, science, engineering, computers, imaginary abstractions, or elsewhere. Through abstraction and logical reasoning, mathematics evolved from counting, calculation, measurement, and the systematic study of the shapes and motions of physical objects. Today, mathematics is used in most fields, including technology, natural science, engineering, medicine, finance and the social sciences such as sociology and psychology. This Financial Mathematics Major provides graduates with a broad range of analytical and mathematical skills, with particular relevance to statistical modelling and operations research, in the financial context. Students will receive a strong grounding in corporate finance, financial institutions, financial markets and various branches of the financial services industry, enhancing the employment prospects of graduates in the technological, industrial and commercial sectors.

Professional Recognition

Graduates of this course may be eligible for membership in the Statistical Society of Australia (SSAI), Operations Research Society of Australia, and/or Australian Mathematical Society (Aust MS) and may also gain eligibility for professional level accreditation from the Australian Institute of Banking and Finance.

Career Oppotunities

Students graduating with an honours degree in science can pursue careers in research through postgraduate degrees (Master by Research, PhD) but are also high competitive in industry. Graduates from the Bachelor of Advanced Science (Honours) have the added advantage being able to evidence the development of high level discipline, leadership and entrepreneurship skills through engagement with industry and research groups throughout their course. Employment prospects are good as mathematics graduates have high level problem-solving skills. Mathematics can be a stepping stone to a wide and diverse career. Our graduates have moved on into many different areas of employment such as finance, government, industry, defence and research as many employers are keen to employ people with a good background in mathematics. Amongst the other careers, this course can help you become a: Logistics Clerk; Mathematician; Statistician; Financial Dealer and Broker; Data Analyst/Scientist; Information Technologist; Logistics Analyst; Project Analyst/Manager; Risk Management; Scheduler; Statistical Analyst; Supply Chain Management; Market Analyst; Games Designer; Meteorologist.

Major/Stream Learning Outcomes

A graduate of this course can:

1. demonstrate an advanced knowledge of the nature of science, its methods and processes, and an advanced knowledge of mathematical and statistical principles and concepts in a range of mathematical disciplines; solve problems relevant to science, industry, commerce and government

2. apply mathematical and statistical methods to critically analyse challenging and multi-faceted problems and to think creatively to generate innovative solutions

3. access and make judgements on the value of available knowledge using a variety of tools, and incorporate them into the planning, conduct and communication of their own work

4. communicate approaches, ideas, findings and solutions to financial mathematics problems in a variety of modes to informed professional audiences

5. use established and emerging technologies in the field of financial mathematics to address complex research questions

6. demonstrate intellectual independence and engage in self-driven continuous discipline and professional education and training in the mathematical sciences

7. be aware of the diversity of international perspectives and apply international standards of practice within their profession as a mathematical scientist in the financial services industry

8. work collaboratively and respectfully with colleagues from a range of cultural backgrounds; understand the importance of cultural diversity and how it impacts a mathematician in the financial services industry

9. work ethically and professionally as an independent mathematician in the financial services industry and collaboratively within teams either as a professional leader or collaborator

Duration and Availability

This course is four years full-time or equivalent part-time study. One intake is offered each year in February.

YEAR 1 SEMESTER 1

YEAR 1 SEMESTER 2

YEAR 2 FULL YEAR

YEAR 2 SEMESTER 1

YEAR 2 SEMESTER 2

YEAR 3 FULL YEAR

YEAR 3 SEMESTER 1

YEAR 3 SEMESTER 2

YEAR 4

OPTIONS TO SELECT FROM IN YEAR 4

* MATH1017 -Students with Mathematics Specialist ATAR >70% must take this unit.