Finance and Maths (1 Viewer)

[*fkr]

Hi
Im a bit confused about this degree as found at http://www.handbook.unsw.edu.au/undergraduate/plans/2005/MATHF13986.html and have a few questions...
Is it a double degree with commerce or a single advanced science degree? What's the difference between an advance science degree and a normal one beside the uai?
For those doing it: How are you finding it?
What sort of jobs do you think you'll get?
And finally does anyone know any other options to consider which combines finance with maths?
Thanks in advance.

 

[blackfriday]

finance and maths can be done in a double com/sci degree or as part of the adv sci degree. the adv sci has the emphasis on maths and you have to do all the 'higher' level subjects which can be a beyatch.

im doing com/sci and i after my first ever semester of uni i can tell you that com is shit, unsw is a hole and i will never be able to understand why people are prepared to forsake their time just so they can have some money.

 

[§eraphim]

finance and maths can be done in a double com/sci degree or as part of the adv sci degree. the adv sci has the emphasis on maths and you have to do all the 'higher' level subjects which can be a beyatch.

im doing com/sci and i after my first ever semester of uni i can tell you that com is shit, unsw is a hole and i will never be able to understand why people are prepared to forsake their time just so they can have some money.

The Advanced Science (Math & Finance) program will be replaced by the Advanced Mathematics program within 3 yrs.

You should also consider BSc (Financial Maths) at USyd.

 

[Super Pig]

Hehe good one §eraphim Also add BComm(Finance)/BSc(Financial Maths) at USyd. Finance will give you the knowledge about the markets, whereas maths equips you with the technical knowhows. There should be a program of similar structure at UNSW.

Jobs you will get out of all these? Sample a few here:
http://www.austms.org.au/Jobs/Finance_listings.html

The Advanced Science (Math & Finance) program will be replaced by the Advanced Mathematics program within 3 yrs.

You should also consider BSc (Financial Maths) at USyd.

 

[§eraphim]

Hehe good one §eraphim Also add BComm(Finance)/BSc(Financial Maths) at USyd. Finance will give you the knowledge about the markets, whereas maths equips you with the technical knowhows. There should be a program of similar structure at UNSW.

Jobs you will get out of all these? Sample a few here:
http://www.austms.org.au/Jobs/Finance_listings.html

Unfortunately, there is no "Financial Maths" major at UNSW in the Science degree. However, if you really are keen on pursuing something similar I would recommend BCom/BSc (Actuarial Studies & Mathematics) with a minor in finance.

Actuarial studies provides a strong foundation in statistical methods and their applications to insurance and super, a professional qualification and also covers financial maths in an introductory manner.

Your studies in financial mathematics can be extended through a Mathematics major where you can take postgraduate mathematical finance subjects in options pricing, interest rate modelling and credit risk modelling (with the right prereqs).

A minor in finance will also give you the additional info you need on the markets and corporate finance.

Also, it's 1 yr less than USyds, you will find that the UNSW Commerce/Science degree comes out on top.

Also, Computer Science is also another complementary major to Finance.

 

[§eraphim]

New Quantitative Risk degree program

UNSW Mathematics and Statistics will take the lead in setting up an undergraduate degree program 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 will contribute a new core course, Quantitative Risk (2nd year undergraduate), and the School of Banking and Finance will provide a new third year course on Behavioural Finance. A number of existing courses in actuarial studies, statistics, accountancy etc will also go to make up the degree program.

It is expected that the new 2nd year QR course will run in 2007 and the full degree program in 2008.

SAS has 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 A/Prof James Franklin

Interesting.....

 

[velox]

Sounds nice. Too many changes happening so fast

 

[jimmaths]

The information posted earlier by a helpful UNSW student on UNSW's new Quantitative Risk major has been updated: http://www.maths.unsw.edu.au/news/2006/quantitativerisk.html . We're keen to have students in 2007 - the sort of students who'd normally consider actuarial studies or Maths and Finance, but who'd like to be the first graduates in a new profession.

 

[§eraphim]

Updated version:

New Quantitative Risk major

UNSW Mathematics and Statistics is taking 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 will contribute a new core course, MATH2881 Quantitative Risk (2nd year undergraduate), and the School of Banking and Finance will provide a new third year course on Behavioural Finance. A number of existing courses in actuarial studies, statistics, accountancy etc will also go to make up the major.

In 2007, students should enrol in Advanced Science and apply to join the "Advanced Mathematics" plan within Advanced Science. They will later transfer to the Quantitative Risk major in a new Advanced Mathematics degree which is starting later in 2007.

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

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 A/Prof James Franklin.

 

[t-i-m-m-y]

Yes, I was just about to mention Quantitative Risk. In essence, it will be similar to our existing Maths/Finance combination..

However, the Quant Risk courses include a selection of maths, actuarial and finance courses - the best of all words (if you like it that way...)

It will be offered in 2007 program, and the UAI cutoff is there simply to ensure the students are the best. If anyone wants the details I can post them up.

 

[ngai]

Unfortunately, there is no "Financial Maths" major at UNSW in the Science degree. However, if you really are keen on pursuing something similar I would recommend BCom/BSc (Actuarial Studies & Mathematics) with a minor in finance.

Are you sure you can get a minor in Finance? I thought the B Com/Sc just gives one major each in Com and Sc, and thats all.

The information posted earlier by a helpful UNSW student on UNSW's new Quantitative Risk major has been updated: http://www.maths.unsw.edu.au/news/2006/quantitativerisk.html . We're keen to have students in 2007 - the sort of students who'd normally consider actuarial studies or Maths and Finance, but who'd like to be the first graduates in a new profession.

Is it (or will it be) possible for students to do Actuarial Studies as well as Quantitative Risk? ie. Will the Adv Maths program allow for students to combine with Commerce? The QR program almost completes half of the Actuarial Part I exemption subjects, so students may be interested in completing the rest as well. Also, many of the courses in the QR plan are the same as those in the Actl+Math plan..it should be possible to fit in a double degree within 4 yrs

 

[§eraphim]

Are you sure you can get a minor in Finance? I thought the B Com/Sc just gives one major each in Com and Sc, and thats all.

Is it (or will it be) possible for students to do Actuarial Studies as well as Quantitative Risk? ie. Will the Adv Maths program allow for students to combine with Commerce? The QR program almost completes half of the Actuarial Part I exemption subjects, so students may be interested in completing the rest as well. Also, many of the courses in the QR plan are the same as those in the Actl+Math plan..it should be possible to fit in a double degree within 4 yrs

The Finance minor will not be recognised on your testamur (like most Minors).

You cannot have combined QRM degree as it is a specialisation in the Advanced Mathematics degree which is stand-alone. There are plans to offer combined Commerce/Adv. Maths but that will be for a while yet.

 

[§eraphim]

Yes, I was just about to mention Quantitative Risk. In essence, it will be similar to our existing Maths/Finance combination..

The Adv Maths (QRM) degree will replace the Adv Sci (Maths & Finance) degree.

Please note that this is a more professional oriented degree which has been developed in consultation with risk managers in the Finance industry.

 

[lanyon]

How many people usually get into the Adv Maths program each year??

 

[Affinity]

no idea.. I would say around 20?

 

[jimmaths]

"Is it (or will it be) possible for students to do Actuarial Studies as well as Quantitative Risk?" No, that doesn't make sense, as Actuarial Studies and QR overlap so much. Currently anyway, it isn't possible to do QR in a double degree. Though one could get much the same effect by doing some suitable degree and including the new core course MATH2881 Quantitative Risk http://www.maths.unsw.edu.au/students/current/homepages/math2881s2.html

 

[blackfriday]

i heard somewhere on this forum before that in the future you could combine commerce with advanced science. actuary and quant. risk are really similar fields so i cant see the point of combining them, but maybe in the future you may be able to.

 

[Raginsheep]

Is it just me or does the QR program have (relatively) few maths subjects for an advanced maths program?

 

[blackfriday]

well you need nine maths courses for a major plus another two to be eligible for honours. QR is stat-heavy course, and there arent that many stat courses to do.

 

[t-i-m-m-y]

Quant Risk is an Advanced Science Study plan.

And Commerce/Advanced Science is not currently offered. It is in the works (there's a lot of politics involved), and we anticipate it may be offered in 2008.