Gain high-level training in principles of modern finance and its mathematical foundations, stochastic analysis, risk assessment and relevant computational techniques.

 

Faculty
Faculty of Science
Delivery Mode
Face-to-face (includes blended)
Award
Master of Financial Mathematics
Commencing Terms
Term 1
Duration (Full Time)
1.7 Year(s)

Overview

Modern finance relies heavily on mathematical modelling to manage investment portfolios, financial planning, pricing of financial products and analysing business risk. The Master of Financial Mathematics was introduced in 2007 to provide the financial sector (banks, insurance companies, investment companies) with a stream of highly trained specialists in quantitative finance. This program is suitable for students with an aptitude for mathematics and a keen interest in finance, who are looking for a pathway into the financial industry.

Key features

  • Research project
    You’ll complete a compulsory supervised research project, which gives you an opportunity to make practical use of the knowledge you gain through your master’s program. This project will prepare you for the problem-solving and report-writing aspects of future employment, or for progression to a research degree.
  • Wide range of career opportunities
    Skills in portfolio management, financial product pricing and analysis of business risk are highly regarded by finance industries. The Master of Financial Mathematics opens up a variety of career opportunities across the financial sector and government financial institutions. It can also provide great preparation for further research in mathematical finance. 
  • Transferable skills
    Studying mathematics improves your logical thinking, problem-solving and analytical skills. Solving mathematical and statistical problems also requires creativity and adaptability. These skills are highly valued by employers.

Why study this degree at UNSW?

Learn with the best
We’re ranked 1st in Australia and 38th in the world for mathematics.* As Australia’s largest and highest ranked school of mathematics and statistics, we provide comprehensive coverage of modern mathematics, underpinned by leading teaching and research.

Leverage our industry connections
Tap into our network of industry and research partners to start building your own professional connections. The School of Mathematics and Statistics maintains and attracts strong links with industry, from ongoing research collaboration to industry involvement in our teaching activities. Our researchers work in partnership with industry to solve real-world problems. This collaboration with industry includes Australian Research Council (ARC) Linkage Grants held by members of staff. Our industry links extend to our learning and teaching activities, with industry partners sponsoring some of our courses and degrees. Other links with industry are maintained through visiting appointments, consulting services offered by our staff and ongoing connections with our alumni.

*QS World University Rankings by Subject 2021

 

Program Code
8161
CRICOS Code
058739M
Campus
Kensington
Total Units of Credit (UOC)
72
Indicative Enrolments
45

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Entry requirements

For entry into this degree, you must have both:

  • Bachelor of Mathematics or Bachelor of Science degree with a major in mathematics and statistics
  • sufficient mathematical and/or statistical background, as indicated by a minimum weighted average mark (WAM) of 65 or above in level III mathematics and/or statistics university courses.

In addition, you must have permission of the Head of School or Nominee to be admitted into the program.

Advanced standing
Honours graduates in mathematics or statistics from UNSW (or equivalent) may receive advanced standing of up to a maximum of 24 units of credit. This means you can complete the program with a further 48 units of credit (one year of full-time study).

Students with a Graduate Diploma in Mathematics and Statistics from UNSW with a weighted average mark of 70 or more may receive advanced standing of up to a maximum of 48 units of credit. This means you can complete the program with a further 24 units of credit (0.5 year of full-time study).

The specific advanced standing to be awarded will be determined at the time of admission and will be based on your background and previous study.

English language requirements​

 

You may be asked to provide evidence of your English proficiency to study at UNSW depending on your educational background and citizenship. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why UNSW requires a minimum English language competency for enrolment.

If you’re completing an Australian Year 12 qualification (e.g. NSW HSC or equivalent), you do not need to provide anything extra to prove your proficiency. Your qualification will be used as evidence of your English proficiency.

If you do need to provide evidence of your English proficiency, this will be indicated in your application. You can prove this by providing evidence that you meet one or more of the following criteria:

UNSW Global offers courses and programs designed to help you reach the English language level required for entry into your chosen degree. Different options are available depending on your current English language level. Learn more.

For entry into this degree, you must have both:

  • Bachelor of Mathematics or Bachelor of Science degree with a major in mathematics and statistics
  • sufficient mathematical and/or statistical background, as indicated by a minimum weighted average mark (WAM) of 65 or above in level III mathematics and/or statistics university courses.

In addition, you must have permission of the Head of School or Nominee to be admitted into the program.

Advanced standing
Honours graduates in mathematics or statistics from UNSW (or equivalent) may receive advanced standing of up to a maximum of 24 units of credit. This means you can complete the program with a further 48 units of credit (one year of full-time study).

Students with a Graduate Diploma in Mathematics and Statistics from UNSW with a weighted average mark of 70 or more may receive advanced standing of up to a maximum of 48 units of credit. This means you can complete the program with a further 24 units of credit (0.5 year of full-time study).

The specific advanced standing to be awarded will be determined at the time of admission and will be based on your background and previous study.

English language requirements​


You may be asked to provide evidence of your English proficiency to study at UNSW depending on your educational background and citizenship. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why UNSW requires a minimum English language competency for enrolment.

If English is not your first language, you’ll need to provide proof of your English proficiency before you can be given an offer to study at UNSW. You can do this by providing evidence that you meet one or more of the following criteria:

UNSW Global offers courses and programs designed to help you reach the English language level required for entry into your chosen degree. Different options are available depending on your current English language level. Learn more.

Program structure

In the Master of Financial Mathematics, you’ll complete coursework subjects in stochastic processes and analysis, continuous and discrete-time financial modelling and computational methods for finance. You’ll also undertake a research project and choose electives from a wide range of topics. Our students develop advanced critical thinking skills and graduate with the ability to communicate complex issues effectively to a range of audiences.

Full program structure

The Master of Financial Mathematics can be completed in 1.7 years of full-time study. The program is made up of 10 courses total, including five core courses and five electives. You’ll also complete a compulsory supervised research project.

Future careers

Mathematicians are trained to think logically and to approach problems in analytical and creative ways. Studying mathematics prepares you for a wide variety of careers as it equips you with the problem-solving, computing and communication skills that employers want.

Skills in portfolio management, financial product pricing and analysis of business risk are highly regarded by finance industries. The Master of Financial Mathematics will prepare you for a successful career across the financial sector and government financial institutions.

The handling of large amounts of money requires the use of sophisticated mathematical techniques to limit risk. The official regulator of the financial sector - the APRA - regularly advertises graduate opportunities.

Academic and research positions within universities, the CSIRO and the Defence Science and Technology Organisation are available for those with the drive to discover new knowledge in mathematics. 

How to apply

Applications must be submitted through our Apply Online portal. We encourage you to submit your completed application as early as possible to ensure it will be processed in time for your preferred term. Some high-demand programs and Faculties with limited places may have an earlier application deadline or commencement date. Find out more.

Ready to apply?

For most international students, applications are submitted via our Apply Online service. We encourage you to submit your completed application as early as possible to ensure it will be processed in time for your preferred term.

Some high-demand programs with limited places, may have an earlier application deadline or may have an earlier commencement date. For more information visit our international applicant information page.

*If you are an international student studying an Australian qualification, go to the Universities Admission Centre (UAC) for application and UAC key dates. Note: If you are under 18 years of age, you need to make special arrangements. Read more.

Ready to apply?

Fees & Scholarships

2021 Indicative First Year Fee
$31,200*
2021 Indicative Fee to Complete Degree
$46,920*

*There is a limited number of Commonwealth Supported Places available for this degree. The indicative tuition fee for domestic postgraduate students shown is for fee paying students, not students in Commonwealth Supported Places. To find out more about the student contribution amounts for Commonwealth Supported Places visit Postgraduate Commonwealth Support.

Fees are subject to annual review by the university and may increase annually, with the new fees effective from the start of each calendar year. The indicative fees listed here are based on an estimated average and are for tuition only - other fees and charges are not included. The amount you pay will vary depending on the calendar year you enrol in, the courses you select and whether your study load is more or less than 1 Equivalent Full Time Student Load (8 courses per year). Indicative fees are a guide for comparison only based on current conditions and available data. You should not rely on indicative fees. More information on fees can be found at the UNSW fees website.

Indicative fees to complete the program have been calculated based on a percentage increase for every year of the program. Fee increases are assessed annually and may exceed the indicative figures listed here.

 

2021 Indicative First Year Fee
$44,640*
2021 Indicative Fee to Complete Degree
$68,700*

*Fees are subject to annual review by the university and may increase annually, with the new fees effective from the start of each calendar year. The indicative fees listed here are based on an estimated average and are for tuition only - other fees and charges are not included. The amount you pay will vary depending on the calendar year you enrol in, the courses you select and whether your study load is more or less than 1 Equivalent Full Time Student Load (8 courses per year).

Indicative fees are a guide for comparison only based on current conditions and available data. You should not rely on indicative fees. More information on fees can be found at the UNSW fees website.

Indicative fees to complete the program have been calculated based on a percentage increase for every year of the program. Fee increases are assessed annually and may exceed the indicative figures listed here.

Indicative fees to complete the program include tuition plus an estimate of study-related costs of approximately $1,000 per year. To find out more about other costs, visit UNSW International.

 

Scholarships

At UNSW, we award over $83 million in scholarships each year. We pride ourselves on rewarding excellence and making university accessible to students from all walks of life. Whether you’re a domestic or international student, our range of scholarships, prizes and awards can support your journey.


  • Top 50
    Worldwide

    QS World University Rankings, 2022.

  • Most
    Employable Graduates

    AFR Top 100 Future leaders Award.

  • Leading
    Innovation

    #1 Australian uni attended by start-up founders.

Ron Elezar
“I was fortunate to gain some hands-on work experience at the Commonwealth Bank of Australia in the area of credit portfolios and modelling. Studying at UNSW has granted me fantastic opportunities, professionally and personally.”

Ron Elazar

Senior Consultant

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