- Students are to follow the requirements of the Handbook for the year they commenced the course.
However, the subject links below do not contain the subject information for the current year. You can view current subject information through the new Course Handbook.
Risk Management and Insurance Major | 2020
This major is intended for students interested in financial risk management and the actuarial profession. Risk management is now recognised as an essential part of strategic objectives at both personal, corporate and government levels. A strong background in mathematics and statistics, which this specialisation provides, is essential to a career in corporate and banking risk management such as market, credit and operational risk.
The profession covers a wide range of activities including the assessing, quantifying, monitoring and mitigating of financial risk exposures for projects, companies and financial institutions. It also monitors compliance with relevant financial regulations. In particular, actuaries are professionals with strong mathematical backgrounds who deal with the financial impact of risk and uncertainty. In Australia, the Institute of Actuaries of Australia is the relevant professional body.
Subjects Required for Major Study
The following subjects must be completed within the Bachelor of Mathematics and Finance (Honours) degree to satisfy the requirements of the Risk Management and Insurance major:
CSIT110, ECON100, ECON205, ECON331, FIN 320, FIN 328, MATH123, MATH305, STAT304, STAT353
The following program of study is recommended to satisfy this major in the Bachelor of Mathematics and Finance (Honours) degree in minimum time.
| Subject Code | Subject Name | Credit Points | Session(s) |
|---|---|---|---|
| Year 1 | |||
| ACCY111 | Accounting Fundamentals In Society | 6 | Autumn, Spring |
| FIN 111 | Introductory Principles of Finance | 6 | Autumn, Spring, Summer 2020/2021 |
| MATH100 | Introduction to Mathematics | 6 | Autumn |
| MATH187 | Mathematics 1: Algebra and Differential Calculus | 6 | Autumn |
| ACCY112 | Accounting In Organisations | 6 | Autumn, Spring, Summer 2020/2021 |
| MATH123 | Discrete Mathematics and Difference Equations | 6 | Spring |
| MATH188 | Mathematics 2: Series and Integral Calculus | 6 | Spring |
| STAT101 | Introduction to Statistics | 6 | Spring |
| Year 2 | |||
| FIN 222 | Corporate Finance | 6 | Autumn, Spring |
| MATH201 | Multivariate and Vector Calculus | 6 | Autumn |
| MATH202 | Differential Equations: Analysis and Applications | 6 | Autumn |
| STAT201 | Random Variables and Estimation | 6 | Autumn |
| ECON100 | Economic Essentials for Business | 6 | Autumn, Spring |
| FIN 223 | Investment Analysis | 6 | Autumn, Spring |
| MATH203 | Linear Algebra and Groups | 6 | Spring |
| STAT202 | Statistical Inference and Introduction to Model Building | 6 | Spring |
| Year 3 | |||
| CSIT110 | Fundamental Programming with Python | 6 | Autumn |
| FIN 328 | Retirement and Estate Planning | 6 | Autumn |
| MATH305 | Partial Differential Equations | 6 | Autumn |
| MATH317 | Financial Mathematics | 6 | Autumn |
| ECON205 | Macroeconomic Theory and Policy | 6 | Autumn, Spring |
| FIN 320 | Risk and Insurance | 6 | Spring |
| FIN 322 | Advanced Corporate Finance | 6 | Spring |
| Plus ONE subject chosen from the List of Electives | |||
| Year 4 | |||
| INFO401 | Mathematics and Finance Honours Project | 12 | Annual, Spring 2020/Autumn 2021 |
| MATH407 | Research Methods | 6 | Autumn |
| STAT304 | Stochastic Methods in Statistical Analysis | 6 | Spring |
| STAT332 | Generalised Linear Models | 6 | Autumn |
| ECON331 | Financial Economics | 6 | Spring |
| STAT353 | Applied Data Analysis and Model Building | 6 | Spring |
| Plus ONE 400-level MATH/STAT/INFO subject from the List of Electives | |||
Entry Requirements & Credit Arrangements
Information on academic and English language requirements, as well as eligibility for credit for prior learning, is available from the Course Finder.
Other Information
For further information email: eis@uow.edu.au