COVID-19 update: This course will start online and continue on campus later. Read more

What will I learn?

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.

Which department am I in?

Monash Business School

CRICOS

086157A

Study options

Full Time (1 year)

Tuition fees
A$46,700.00 (US$ 34,866) per year
Start date

28 February 2022, 25 July 2022, 27 February 2023, 24 July 2023

Venue

Monash University

Clayton Campus,

Wellington Road,

MONASH UNIVERSITY,

Victoria,

3800, MELBOURNE, Australia

Entry requirements

For students from United States

Relevant Bachelor degree or equivalent. English language requirements: IELTS Academic: 6.5 (Reading: 6.0, Listening: 6.0, Writing: 6.0, Speaking: 6.0); TOEFL paper-based: 550 (Test of written English: 4.5); TOEFL internet: 79 (Reading: 13, Listening: 12, Writing: 21, Speaking: 18); Pearson Test of English (Academic): 58 (No PTE communicative skills score below 50); Cambridge English: Advanced (CAE): 176 (No skill score below 169); Cambridge English: Proficiency (CPE): 176 (No skill score below 169).

For international students

Entry level 1: An undergraduate degree (equivalent to an Australian undergraduate degree) with a strong mathematical content* with at least a 65% average or qualification/experience that the faculty considers to be equivalent or a satisfactory substitute for the above. *i.e. Completion of units of mathematics with an emphasis on multivariable calculus, linear algebra, probability, statistics and differential equations.

Entry level 2: An undergraduate degree (equivalent to an Australian undergraduate degree) in mathematics with at least a 65% average or qualification/experience or satisfactory substitute that the faculty considers to be equivalent.

OR

An Australian graduate certificate/diploma (or equivalent) with a strong mathematical content* with at least a 65% average or qualification/experience that the faculty considers to be equivalent or a satisfactory substitute for the above. *I.e. Completion of units of mathematics with an emphasis on multivariable calculus, linear algebra, probability, statistics and differential equations.

Entry level 3: A four-year Australian honours degree (or equivalent) in mathematics with at least 65% average or qualification/experience or a satisfactory substitute that the faculty considers to be equivalent.

English entry requirements

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 50

TOEFL Internet-based test: 79 Overall score, with minimum scores: Reading 13, Listening 12, Speaking 18 and Writing 21

Paper-based TOEFL 550 Test of written English: 4.5

Cambridge English: Advanced (CAE) 176 No skill score below 169
Cambridge English: Proficiency (CPE) 176 No skill score below 169

*There may be different IELTS requirements depending on your chosen course.

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