Financial Mathematics - S6001
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.
At a glance
Course Details
Location |
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|---|---|
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 |
Entry Requirements
You need to satisfy the following entrance requirements to be considered for entry to this course.
Minimum Entry Requirements (Domestic 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. *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 An Australian graduate certificate/diploma (or equivalent) with a strong mathematical content* with at least a 65% average. *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. |
English requirements
Applicants must also meet the English language requirements.
University entrance requirements
Minimum entrance requirements for admission to Monash University Australia.
The course structure can be viewed in the Handbook. You can also view the course map.
Making the application
Future students
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.
Please note: The fee information displayed is based on the 2022 rates and should only be used as a guide.
Commonwealth supported place (CSP)
The average annual student contribution amount is:
A$5000
Note: see information on how average fee is calculated.
Fee assistance
As a Commonwealth supported student, you may be able to either:
- pay all of your student contribution upfront, or
- defer payment through the HECS HELP loan scheme.
Full fee
Fees are per 48 credit points which represents a standard full-time course load for a year.
A$37,800
Fee assistance
As a full fee-paying student, you may be eligible to apply for the optional FEE-HELP to assist you to pay all or part of your tuition fees.
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.
Other costs and fees
For information on other study costs and fees, see other study costs.