To enter the Master of Financial Mathematics program, students must have

A formal application must be made using by applying on-line. In addition, students must have permission of the Head of School or the Postgraduate Coursework Coordinator. Qualifying programs are available for students who do not meet the standard entry requirements. Prospective students should note that all programs have English language requirements.

Entry to this program is available in March (Semester 1) only.

All coursework masters programs at UNSW are fee-paying. For sources of postgraduate course funding go to Commonwealth Supported Assistance.

For international students please refer to International Fees.

Honours graduates in Statistics may be exempted from a maximum of one third of the courses and could complete the degree with one year of full time study.

The program is intended for students who have completed a Mathematics or Statistics degree in a Science and/or Mathematics program, or a degree in a related area, and who wish to further their knowledge of mathematical finance and statistics. The program offers intensive, high-level training in principles of financial modelling and its mathematical foundations, statistical techniques, risk assessment, and computational techniques of financial mathematics. The program was introduced in 2007 in order to provide students with a route to high quality careers in the financial industry and to provide the financial sector with a stream of highly trained specialists in Quantitative Finance.

The program consists of ten lecture courses worth 6 units of credit (UOC) each, and a supervised project worth 12 UOC. The project is compulsory and full-time students are enrolled in it in the last two semesters of the program. Part-time students are expected to complete the project in two consecutive semesters. The core set of compulsory courses, listed below, is designed to give a deep knowledge of the fundamentals of financial mathematics with the special emphasis on financial modelling and pricing of financial derivatives.

Students may choose the remaining courses from a wide variety of courses within the School of Mathematics and Statistics, or elsewhere within the University.

External Courses: With the permission of the Postgraduate Coursework Coordinatoror orHead of School Coordinator, a student may take courses from other disciplines at UNSW, other mathematics schools (for example, at University of Sydney), and external courses such as those taught at the AMSI Summer School.

Semester 2 Timetable

For the convenience of part-time and full-time students, classes are typically taught from 5:30pm to 8:00pm on weekdays during semester.

Students will have a 12 units of credit (UOC) project as a compulsory part of any master coursework program. The project involves writing a thesis on the chosen topic. The project could include a literature survey and a critical analysis of the topic area; or could be a small research project. This should prepare you for the problem-solving and report-writing aspects of future employment, or for progression to a research degree. Each student works under the supervision of one or more members of the School. Members of the School are flexible about the range of areas in which they will supervise students. Prospective students should start talking to staff members about possible topics well before they start on the project. An early decision about a topic will facilitate an early start with the project. Supervision by individual staff members is dependent on staff agreement and availability.

The project will be assessed for quality in four major areas (see below), each of which is important. The written thesis will be assessed by two or three markers, one of which may be the supervisor, and each marker will provide a written assessment and grade(s) based on the following.

The project provides an opportunity to specialise in a particular area of Financial Mathematics. Typical projects require analysis of a substantial data set using advanced statistical software, and could include a literature survey and a critical analysis of the topic area; or they could be a small research project.

The program focuses on the following skills:

After Semester 1 students may choose not to graduate from the Master of Financial Mathematics and instead apply to transfer to either the Graduate Diploma in Statistics or Master of Statistics Program provided that the rules of admission into those degrees are satisfied.

Students who initially satisfied the criteria for the Master of Financial Mathematics Program but enrolled into the Graduate Diploma in Statistics or Master of Statistics Program may transfer to the Master of Financial Mathematics Program after Semester 1. The Program Authority may approve transfer of credit for students who wish to transfer to the Master of Financial Mathematics Program from either the Graduate Diploma in Statistics or Master of Statistics.

Dr Donna Salopek
School of Mathematics and Statistics
University of New South Wales
Sydney 2052 Australia
Phone: (02) 9385 7030
Fax: (02) 9385 7123

Inquiries via e-mail must be sent to pg.MathsStats@unsw.edu.au

For information on the teaching staff and their research interests see the research groups.