The Mathematical Finance major provides the necessary theoretical framework required to price complex financial products such as derivative contracts. Mathematical finance has given tremendous impetus to research in and applications of probability theory and some other mathematics areas.
The skills acquired through this major equip students to continue to postgraduate research in mathematical finance or applied probability. These skills, along with a solid computational foundation which can be obtained through courses available in the Major, and form an integral component of the attributes necessary to work as a “quant” in the banking and finance industry; for example, market makers, hedge fund analysts, statistical arbitrageurs and risk analysts in banks, central banks and regulators.
Students who complete the major in Mathematical Finance will be able to:
- Demonstrate mastery of mathematical concepts and techniques to the level of advanced Analysis.
- Demonstrate mastery of the concepts and techniques of of Probability, Statistics, and Stochastic processes.
- Demonstrate mastery of the ideas and concepts of Mathematical Finance.
- Apply concepts and techniques from mathematics and statistics to finance problems.
- Obtain a deep understanding of Finance in the context of advanced mathematical frameworks.
- Think clearly, sequentially and logically, as demonstrated by the critical analysis of quantitative problems, in particular finance problems.
- Appreciate that mathematics and statistics is embedded in everyday life through its influence in various fields, in particular in finance.
- Draw on discipline based experiences of working collaboratively, communicating mathematical and economics knowledge and acting professionally and responsibility in further study, or professional pursuits.
Advice to Students
Students are recommended to take 2 extra MATH coded courses to obtain a Minor in Mathematics.
Students should seek further course advice from the academic convener of this Mathematical Finance major.
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This major requires the completion of 48 units, which must include:
42 units from completion of the following course(s):
|MATH2320||Analysis 1 Honours: Metric Spaces and Applications||6|
|MATH2405||Maths Methods 1 Honours: Ordinary Differential Equations and Advanced Vector Calculus||6|
|STAT2001||Introductory Mathematical Statistics||6|
|MATH3015||Mathematics of Finance||6|
|MATH3029||Probability Modelling with Applications||6|
6 units from completion of the following course(s):
|STAT1008||Quantitative Research Methods||6|