UNSW Mathematics and Statistics has taken the lead in setting up undergraduate education in Quantitative Risk. This emerging field deals with risk in the banking, financial and related areas, as Actuarial Studies does in life insurance. The Basel II compliance regime in banking has increased the demand for skills in the area.

The School contributes a new core course, MATH2881 Quantitative Risk (2nd year undergraduate), and the School of Banking and Finance provides a new third year course on Behavioural Finance. A number of existing courses in actuarial studies, statistics, accountancy etc also go to make up the major.


The Quantitative Risk major (and the Advanced Science Advanced Mathematics plan) is a high-UAI major and is restricted to students with a UAI of 95 or higher and with excellent Mathematics Extension 2 marks. Top Extension 1 students may be considered.

Plan of the QR major

SAS and the CBA have agreed to help the School develop the new core course in Quantitative Risk. Other partners from the financial world are invited to contribute to the program, through sponsorship and the provision of course advice and visiting speakers. Prospective partners should contact Prof James Franklin.

There is an article on quantitative risk and UNSW's involvement in the March 2007 issue of Actuary Australia (pp. 10-11).