Undergraduate Courses

Bachelor of Mathematics and Finance

Testamur Title of Degree:

Bachelor of Mathematics and Finance

Abbreviation:

BMathFin

UOW Course Code:

767

CRICOS Code:

016107B

Study Areas / Disciplines / My University Key words:

Risk Management & Insurance, Statistics, Risk Management, Insurance, Quantitative Corporate Finance & Investments, Quantitative & Computational Trading, Mathematical Economics, Financial Planning

Duration:

4 years full-time or part-time equivalent

Total Credit Points:

192

Home Faculty:

Faculty of Engineering & Information Sciences

Intake Session(s):

Autumn/Spring

Delivery Mode:

On campus (Face-to-face)

Delivery Campus / UAC Code:

Wollongong / 756503

ATAR:

82

Additional Information:

Course Finder

Course Description

Advanced skills in mathematics are essential to good decision making in the world of finance. Graduates of this course have the skills to apply sophisticated mathematical and statistical techniques to real world problems and are also encouraged to develop computing and communication skills, which are an asset in the employment market.

The degree allows students to specialise through one of five optional majors:

  • Risk Management and Insurance
  • Quantitative Corporate Finance and Investments
  • Quantitative and Computational Trading
  • Mathematical Economics
  • Financial Planning.


All graduates from this degree working in the finance industry qualify for Associate membership of the Financial Services Institute of Australasia (FINSIA).

Entry Requirements

Academic requirements, English requirements and credit transfer information are available from the Course Finder.

Course Structure

Students who enrol in Bachelor of Mathematics and Finance shall satisfactorily complete at least 192 credit points of prescribed subjects, together with the requirements prescribed for the program.

Of the 192 credit points:

    • the subjects listed in the Recommended Program are compulsory unless explicitly stated otherwise;

    • no more than 66 credit points shall be for 100-level subjects;

For the non-Honours strand, at least 60 credit points shall be for 300- and/or 400-level subjects; including

    • at least 24 credit points of MATH/STAT/INFO* subjects and

    • at least 24 credit points of ACCY/FIN/ECON subjects;

For the Honours strand,

    • 12 credit points shall be for the project INFO401 or INFO402 and

    • at least 54 additional credit points shall be for 300- and/or 400-level subjects; the 54 additional credit points shall include at least:

        o 18 credit points of MATH/STAT/INFO* subjects,

        o 18 credit points of ACCY/FIN/ECON subjects,

        o 18 credit points of 400-level subjects, and

    • at least one 400-level 6 credit point MATH, STAT or INFO* subject other than MATH407.

*Refers to INFO subjects in the List of Electives.

Course structure

The following program of study is recommended to satisfy the requirements in minimum time. The subjects listed are compulsory unless otherwise stated.

Subjects

Session

Credit Points

Year 1

ACCY111

Accounting Fundamentals in Society

Autumn/Spring

6

ACCY112

Accounting in Organisations

Autumn/Spring

6

ECON111

Introductory Microeconomics

Autumn/Spring

6

MATH187

Mathematics 1: Algebra and Differential Calculus

Autumn

6

MATH188

Mathematics 2: Series and Integral Calculus

Spring

6

MATH111

Applied Mathematical Modelling 1

Spring

6

STAT131

Understanding Variation and Uncertainty#

Autumn

6

Plus either

ISIT111

Programming Concepts

Autumn/Spring

6

or

CSCI114

Procedural Programming

Autumn/Spring

6

# Not compulsory, but highly recommended. Students may select an alternative subject from the List of Electives or enrol in a compulsory subject from a later year of the program

Year 2

FIN 222

Corporate Finance

Autumn/Spring

6

ECON101

Macroeconomic Essentials for Business

Autumn/Spring

6

MATH201

Multivariate and Vector Calculus

Autumn

6

MATH202

Differential Equations 2

Spring

6

FIN 223

Investment Analysis

Spring

6

STAT231

Probability and Random Variables

Autumn

6

STAT232

Estimation and Hypothesis Testing

Spring

6

Plus

Subject chosen from List of Electives

6

Year 3

FIN 322

Advanced Corporate Finance

Spring

6

FIN 323

Portfolio Analysis

Autumn

6

ECON331

Financial Economics

Spring

6

MATH203

Linear Algebra

Autumn

6

MATH317

Financial Calculus

Autumn

6

STAT332

Linear and Generalised Linear Models

Spring

6

Plus

Subjects chosen from List of Electives

12

Year 4 (Non Honours)

Subjects chosen from List of Electives

48

Year 4 (Honours)
Entry to this program is restricted to candidates who satisfy the prerequisite to INFO401 or INFO402

MATH407

Research Methods

Autumn

6

INFO401

Mathematics and Finance Honours Project (see Note 4)

Annual

12

or

INFO402

Mathematics and Economics Honours Project (see Note 4)

Annual

12

Plus

Subjects chosen from List of Electives

30

Note 4: Enrolment in INFO401 and INFO402 is restricted to those candidates who have a WAM greater than or equal to 67.5 on satisfactory completion of 144 credit points of the course.

List of Electives

Any MATH, STAT, FIN or ECON subject plus the subjects below.

ACCY200

Financial Accounting IIA

Autumn/Spring

6

ACCY201

Financial Accounting IIB

Spring

6

ACCY228

Taxation for Financial Planners

Spring

6

MATH407

Research Methods

Autumn

6

CSCI103

Algorithms and Problem Solving

Autumn/Spring

6

CSCI124

Applied Programming

Autumn/Spring

6

CSCI204

Object and Generic Programming in C++

Autumn/Spring

6

CSCI235

Database Systems

Spring

6

IACT201

Professional Practice and Ethics

Autumn

6

INFO411

Data Mining and Knowledge Discovery

n/o 2014

6

INFO412

Mathematics for Cryptography

Autumn

6

ISIT112

Database

Spring

6

LAW 101

Law, Business and Society

Autumn

6

MARK101

Marketing Principles

Autumn/Spring

6

MGMT110

Introduction to Management

Autumn/Spring

6

MGMT208

Introduction to Management for Professionals A

Autumn

6

Areas of Major Study

All Bachelor of Mathematics and Finance students wishing to qualify for one of the major studies must satisfy all the Course Rules specified above. To qualify for a major, additional requirements must be met, which are detailed below together with suggested programs of study. The possible majors are:

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.

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.

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 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.

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.

Students are encouraged to look at these majors and discuss the choice of subjects with their Course Coordinator.

 

Honours

Students who enrol in the Honours program must satisfactorily complete the requirements listed in Year 4 (Honours) of the Course Program above. The classes of Honours awarded are defined in the General Course Rules Section 8. The Honours grade will be calculated in accordance with Method 2.

Professional Recognition

The Bachelor of Mathematics and Finance is accredited by the Australian Mathematical Society.

Completion of this degree provides 'points' towards membership of Financial Services Institute of Australasia (FINSIA). (Their membership system allocates points based on a person's qualifications and industry experience. See their website for more details.)

The Bachelor of Mathematics and Finance major "Financial Planning" has been placed on the Australian Securities and Investment Commission's (ASIC) training register. This means that students completing this major will satisfy Tier 1 of ASIC's training requirements relevant to a range of advisory activities. Such accreditation is very important for those wishing to pursue quantitative careers in the financial services industry.

Students who complete the "Risk Management and Insurance" major and who wish to pursue a professional actuarial qualification are eligible for entry to the Master of Actuarial Studies (1.5 years) at the University of New South Wales (minimum credit average 65% grade), the Master of Actuarial Practice (1.5 years) at Macquarie University (minimum GPA of 3), and the Master of Actuarial Statistics (1 year) or Master of Actuarial Studies (2 year) programs at the Australian National University (minimum 65% grade in last two years of study). Students may also qualify for exemptions in these courses and should contact program directors about the level of professional qualification offered in each Masters degree.

Other Information

Further information is available at:
UOW Course Finder
Email: eis@uow.edu.au   

Last reviewed: 27 January, 2017