S6001 Master of Financial Mathematics

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.

The course comprises 96 points structured into three parts: Part A. Orientation studies (24 points), Part B. Specialist studies (48 points) and Part C. Applied professional practice (24 points).

If you are admitted at:

• entry level 1 you complete 96 points, comprising Part A, Part B and Part C
• entry level 2 you complete 72 points, comprising Part B and Part C
• entry level 3 you complete 48 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.

Units are 6 points unless otherwise stated.

Part A: Orientation studies (24 points)

You complete two units from the following: 

• MTH3230 Time series and random processes in linear systems
• MTH3241 Random processes in the sciences and engineering
• MTH3251 Financial mathematics
• MTH3260 Statistics of stochastic processes

Plus two from the following list of units or from the list above not previously completed:

• ETC3400 Principles of econometrics
• ETC3420 Applied insurance methods
• ETC3460 Financial econometrics
• MTH3011 Partial differential equations
• MTH3051 Introduction to computational mathematics
• MTH3060 Advanced ordinary differential equations
• MTH3140 Real analysis
• MTH3310 Applied mathematical modelling
• MTH3320 Computational linear algebra
• MTH3330 Optimisation and operations research

Part B: Specialist studies (48 points)

You complete:

• MTH5210 Stochastic calculus and mathematical finance
• MTH5510 Quantitative risk management
• MTH5520 Interest rate modelling
• MTH5530 Computational methods in finance

Plus four units from the following:

• BFF5230 Global financial markets
• ETC5460 Financial econometrics 2
• MTH5112 Partial differential equations in finance
• MTH5220 The theory of martingales in discrete time
• MTH5230 Markov chains and random walks
• MTH5540 Statistical learning in finance
• MTH5550 Quantitative trading and market microstructure

Part C: Applied professional practice (24 points)

You complete one of the following:

• MTH5840 Minor industry placement (12 points) and MTH5820 Minor industry research project (12 points)
• MTH5830 Industry placement (24 points)
• MTH5810 Industry research project (24 points)