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MASTER OF FINANCIAL MATHEMATICS

The only maths masters of its kind in Melbourne

Find your future in finance

Across the world, talented mathematicians are sought by banks and other financial institutions to help manage the increasingly complex and more risky financial sector. Particularly valued today are those who combine skills in the science of mathematics with fluency in the language of finance.

The Monash Master of Financial Mathematics is a mathematics course designed for application in a business context. It is designed for graduates from across the globe with an aptitude and passion for mathematics and statistics, as well as a keen interest in finance and insurance. This is not a course for generalists; this is a highly specialised degree for students seeking a future in the world of professional quantitative finance.

You will be taught by mathematicians who are leading researchers in areas such as probability, stochastic processes and statistics, and who have broad connections across the financial and insurance industries. Industry projects and placements as a component of the degree, mean you have an opportunity to gain valuable experience in the workplace as part of the qualification​.

Course structure

Modern finance relies on deep mathematical concepts and techniques, assembled in what has come to be known as financial mathematics or quantitative finance.

Monash offers a unique blend of expertise spread over four academic units (economics, econometrics, finance and mathematics). 

All units contribute to the master's program and maintain relationships with banks, investment firms, and research organisations in financial mathematics.




The course is structured in three parts: 

  • Part A. Orientation studies, 
  • Part B. Specialist studies, 
  • Part C. Applied professional practice. 

All students complete Part B. Depending upon prior qualifications and experience, you may receive credit for Part A or Part C or a combination of the two.

Standard duration is 2 years full time, 4 years part time. Students have a maximum of four years to complete this course.

For more information please read our Handbook

  • Part A: Orientation studies (24 points)

    ​​Orientation studies (24 points).​These studies provide an orientation to the field of financial mathematics. You will choose studies that complement your current knowledge relevant to financial mathematics, including principles of econometrics, mathematical methods and stochastic processes.

  • Part B: Specialist studies (48 points)

    These studies will provide you with advanced knowledge and skills relevant to thoughtful, innovative and evidence-based practice in financial modelling and analysis. You will acquire core knowledge of and skills in financial econometrics, and advanced mathematical modelling and computational methods in finance. You will complement these with study in areas of your choice, including interest rate modelling, Markov processes, statistical learning in finance, and global financial markets.

  • Part C: Applied professional practice (24 points)

    These studies will provide you with the opportunity to apply your knowledge skills developed in Part A and B to 'real life' problems, through completing an industry project or an industry internship. Students admitted to the course who have a recognised honours degree or graduate diploma or graduate certificate in a cognate discipline including mathematics or statistics, will receive credit for this part however, should they wish to complete a 24 point research project they should consult with the course coordinator.

Pathways and outcomes

  • Alternative exit(s)

    Students may exit this course early and apply to graduate with the following, provided they have satisfied the requirements for that award: Graduate Certificate in Financial Mathematics Graduate Diploma in Financial Mathematics.

  • Further studies

    Upon completion of the Master of Financial Mathematics, depending on level of achievement, students may be eligible to apply for admission to the Doctor of Philosophy (PhD).