Bachelor of Mathematics & Finance

UAC course code 756503
Financial institutions are employers of a large number of mathematics graduates. The Bachelor of Mathematics and Finance is an elite degree that provides graduates with a firm foundation in both mathematics and finance.

Finance is usually divided into three main areas: corporate finance, financial institutions and investments. The BMathFin degree covers the basics of all these areas, and allows students to specialise through the choice of elective subjects. This degree has advantages over the Bachelor of Commerce in providing students with a more thorough and comprehensive understanding of mathematics and statistics. This is essential for analysing corporate performance, the state of the market, or strategic planning.

Graduates have the skills to apply sophisticated mathematical/statistical techniques to real world problems. They may be involved in:

forecasting markets for new products,
monitoring the performance of particular stocks and securities on world stock exchanges,
research & development planning,
decision analysis,
analyzing a client's current operating performance and financial condition,
analyzing comparable company activity before a merger,
corporate credit analysis and risk assessment.

Graduates are also encouraged to develop computing and communication skills, as these are an asset in the employment market.

In the first year, core (ie compulsory) subjects are taken and it is possible to swap between the Bachelor of Mathematics and Finance and the Bachelor of Mathematics and Economics degrees. In later years students can choose elective subjects that interest them from a wide range of options.

In the fourth year, students with a weighted average mark of 67.5 may choose to do Honours. This is a more challenging, research oriented program that adds prestige to the degree. It involves the completion of a project on a special topic chosen by the student and his/her supervisor.

All graduates from this degree will accrue points towards membership of the Financial Services Institute of Australasia (FINSIA). Please see their website for more details about their membership system.

Dean's Scholar Program

This degree is also available in the Dean's Scholar program. The Dean’s Scholars degrees are designed to provide an enriched educational experience for high achieving students that will encourage them to continue their studies through the completion of Honours and research degrees. See http://www.uow.edu.au/informatics/students/scholars/index.html for more details.

Majors within the BMathFin degree

The following majors within the BMathFin degree have been developed as the result of extensive industry consultation.

Quantitative Corporate Finance and Investments
This major targets those students interested in careers in the tools, analysis and making of corporate and business financial decision-making from a quantitative perspective. These decision processes may be short-term or long term. Long term decisions typically deal with the choice and type of corporate investments, sources of equity or debt funding and financial risk management. Short term decisions mainly deal with working capital management of short term assets and liabilities. There are several professional bodies covering corporate treasurers and analysts.
Risk Management and Insurance
This major is intended for students interested in financial risk management and the actuarial profession. Risk management is now recognised as an essential part of strategic objectives at both personal, corporate and government levels. A strong background in mathematics and statistics which this specialisation provides is essential to a career in corporate and banking risk management such as as market, credit and operational risk. The profession covers a wide range of activities including the assessing, quantifying, monitoring and mitigating of financial risk exposures for projects, companies and financial institutions. It also monitors compliance with relevant financial regulations. In particular, actuaries are professionals with strong mathematical backgrounds who deal with the financial impact of risk and uncertainty. In Australia, the Institute of Actuaries of Australia is the relevant professional body.
Financial Planning
This major is particularly applicable to those who wish to pursue a career within the financial services industry by gaining professional qualifications in the areas of providing financial planning and financial advice to clients. The areas of service provision are very wide including investment and asset portfolio construction and advice, superannuation, retirement and estate planning and associated services. In Australia, the Financial Planning Association of Australia is the relevant professional body.
Mathematical Economics.
The aim of this major is to provide students with a grounding in the necessary skills for the application of mathematical methods, concepts and reasoning to economic theory and problem solving in both micro-economics and macro-economics. The mathematical foundation includes econometrics, financial and linear modelling and calculus, differential equations, statistics and associated topics.
Quantitative and Computational Trading
On successful completion of this major, students will have a solid foundation in mathematical finance and the specialist practical skills necessary to be successful as a quantitative trader. Students will acquire mathematical, statistical, financial and computer skills to understand, implement and develop computer-driven trading strategies and be able to make informed investment decisions and evaluate portfolio risks.

You should consult with your course advisor about your choice of subjects and course structure to ensure that you comply with all degree requirements.

Graduate Opportunities

Possible employers are merchant banks, trading banks, insurance companies, large businesses, government instrumentalities and stockbrokers. Examples include Home Purchase Assistance, Qld Treasury, Attorney General's Dept, AusAid, Sumitomo Trust and Banking Co, Tolhurst Corporate Finance, Mercator Capital Services, Credit Suisse, First City Corporate Advisory Services, Norths Securities, Investec Australia.

Finance careers include financial researchers, commercial business analyst, financial planners, foreign exchange consultants, trade finance officers, investment analysts, portfolio managers for trust funds, superannuation funds and insurance companies.

Employment Opportunities

Possible employers are merchant banks, trading banks, insurance companies, government instrumentalities and stockbrokers. Finance positions include financial researcher, market analyst, financial evaluator, business analyst, investment analyst, portfolio manager for trust funds, superannuation funds and insurance companies.