Financial Mathematics - S6001

Financial Mathematics

Expert master degree

Do you have an aptitude and passion for mathematics and statistics, a keen interest in finance and insurance and want to work for a major financial organisation in finance, insurance or the money market? This course will provide you with a deep understanding of the world of finance,and give you the ability to speak its 'language'. This course combines theory with hands-on practical skills via an industry placement or research project –ensuring you graduate with the right skills increasingly being sought by banks and other financial institutions.

The Master of Financial Mathematics offers advanced training in the core areas of stochastic, financial and insurance modelling, statistical analysis and computational methodology, as well as in a wide range of elective topics from economics, econometrics, finance, mathematics and probability.

Graduates of this course are likely to enter specialist careers in research departments within banks, insurance and consultancy firms or work on derivatives valuation and portfolio management within investment houses.

The School of Mathematical Sciences sits within the leading Faculty of Science at Monash University. This vibrant, dynamic and successful School is undergoing a period of growth with the appointment of several new senior academic staff including Professor Gregoire Loeper, Course Director for the Masters of Financial Mathematics. With mathematics as the fundamental underpinning of so many subject areas, sectors and disciplines, the School is also building ever stronger collaborations with relevant industries, including the financial sector.

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At a glance

Course Details

Location
  • On-campus at Clayton: Full time
Duration
1 year/1.5 years/2 years (full time), depending on prior qualifications. See entry requirements.
Start date
Semester one (February), Semester two (July)
Qualification
Master of Financial Mathematics
Course Handbook

Entry Requirements

You need to satisfy the following entrance requirements to be considered for entry to this course.

Minimum Entry Requirements (International students)

Qualifications

Entry level 1: 96 points to complete Duration: 2 years full-time, 4 years part-time

An Australian bachelor degree (or equivalent) with a strong mathematical content* with at least a 65% average or equivalent qualification and experience approved by the faculty.

*i.e. Completion of units of mathematics with an emphasis on multivariable calculus, linear algebra, probability, statistics and differential equations.

Entry level 2: Duration: 72 points to complete 1.5 years full-time, 3 years part-time

An Australian bachelor degree (or equivalent) in mathematics with at least a 65% average or equivalent qualification and experience approved by the faculty.

or

An Australian graduate certificate/diploma (or equivalent) with a strong mathematical content* with at least a 65% average or equivalent qualification and experience approved by the faculty.

*I.e. Completion of units of mathematics with an emphasis on multivariable calculus, linear algebra, probability, statistics and differential equations.

Entry level 3: 48 points to complete Duration: 1 years full-time, 2 years part-time

A four-year Australian honours degree (or equivalent) in mathematics with at least 65% average or equivalent qualification and experience approved by the faculty.

English entry requirements

Level A
IELTS (Academic): 6.5 Overall score, with minimum band scores: Listening 6.0, Reading 6.0, Writing 6.0 and Speaking 6.0 Pearson Test of English (Academic): 58 Overall score, with minimum scores: Listening 50, Reading 50, Speaking 50 and Writing 50TOEFL Internet-based test: 79 Overall score, with minimum scores: Reading 13, Listening 12, Speaking 18 and Writing 21 Equivalent approved English test

University entrance requirements

Minimum entrance requirements for admission to Monash University Australia.

The course is structured in three Parts. Part A. Orientation studies, Part B. Specialist studies, Part C. Applied professional practice.

Making the application

Future students

Semester one (February)

Apply directly to Monash using course code S6001

Apply

Semester two (July)

Apply directly to Monash using course code S6001

Apply

Current Monash students

You may apply to transfer from another Monash course. Transfers are a competitive process. You may apply mid-year for available courses however consideration will be given as to whether you will be able to follow your course progression.

Please note that if you apply for a course transfer, you should still enrol in your current course as if you were continuing so as not to jeopardise your enrolment in the Faculty if your transfer application is unsuccessful. More about Course Transfer...

Self assess for credit eligibility

Check for study credit using the "Credit search" link on the Credit for prior study page

Fees

Fees are subject to change annually.

International fee

Note Please note: The fee information displayed is based on the 2021 rates and should only be used as a guide.

Fees are per 48 credit points which represents a standard full-time course load for a year.

A$44,500

Scholarships

We offer over 360 types of scholarships, valued at up to $280,000. Some scholarships offer one-off payments while others continue for the length of your course. Learn more about Monash Scholarships.

Enrolment Obligations

International students enrolling in a CRICOS-registered course can study no more than one third (33%) of their course by distance and/or online learning. Students must enrol in at least one unit that is not by distance and/or online in each compulsory study period unless the student is completing the last unit of their course. See standard 8.19 and 8.20 of National Code of Practice for Providers of Education and Training to Overseas Students 2018.

CRICOS code: 086157A