MATH1151 Mathematics for Actuarial Studies and Finance 1A

MATH1151 is a Level I Mathematics course; it is available only to students in Actuarial Studies, with majors in Mathematics, Advanced Mathematics in the Quantitative Risk major. 

The course overview is below.

Units of credit:

Assumed Knowledge: HSC Mathematics and Mathematics Extension 1 with a combined mark of at least 140, or HSC Mathematics Extensions 1 and 2 with a combined mark of 175. MATH1131 might be an appropriate substitute course for students who do not have this background: seek advice.

Exclusions: MATH1011, MATH1031, MATH1131, MATH1141, ECON1202, ECON2291. 

Cycle of offering: Yearly in Semester 1.

Graduate attributes: The course will enhance your research, inquiry and analytical thinking abilities.

More information: This recent course handout (pdf) contains information about course objectives, assessment, course materials and the syllabus. 

The Online Handbook entry contains up-to-date timetabling information.

If you are currently enrolled in MATH1151, you can log into UNSW Moodle for this course.

For general advice, see advice on choosing first-year courses.

Course Overview

Although MATH1151 contains an introduction to the Theory of Statistics, it is primarily concerned with the study of two central areas of mathematics: Linear Algebra and Calculus.

Linear algebra has its beginnings in the study of vectors in the plane: vectors were first introduced to represent physical entities such as velocity and force, which are characterised by magnitude and direction. Modern linear algebra discusses vectors in any dimension, and vectors are especially useful because they can be used to record information. Together with matrices, vectors provide the basic mathematical framework in which to solve large systems of linear equations. 

Calculus can be usefully thought of as being composed of two fields of study - the differential calculus and the integral calculus - and both of these depend upon the concept of a limit. The differential calculus is in essence the study of change, and the derivative of a function is its core construct. On the other hand, the integral calculus has its roots in antiquity and the study of area, and its core construct is the integral. Much of scientific knowledge is underpinned by the seminal result known as the Fundamental Theorem of Calculus: the derivative of the integral is the given function.