- 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
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 major study has the additional requirements that the following subjects be completed from the elective list: STAT131, STAT304, STAT333, ECON205, FIN 320 and FIN 328.
| Subject Code | subject Name | Credit Points | Session(s) |
|---|---|---|---|
| Year 1 | |||
| ACCY111 | Accounting Fundamentals In Society | 6 | Autumn, Spring |
| MATH187 | Mathematics 1: Algebra and Differential Calculus | 6 | Autumn |
| STAT131 | Understanding Variation and Uncertainty | 6 | Autumn |
| MATH188 | Mathematics 2: Series and Integral Calculus | 6 | Spring |
| ACCY112 | Accounting In Organisations | 6 | Autumn, Spring |
| ECON111 | Introductory Microeconomics | 6 | Autumn, Spring |
| MATH111 | Applied Mathematical Modelling 1 | 6 | Spring |
| Plus ONE of the following two subjects: | |||
| ISIT111 | Programming Concepts | 6 | Autumn, Spring |
| CSCI114 | Procedural Programming | 6 | Autumn, Spring |
| Year 2 | |||
| FIN 222 | Corporate Finance | 6 | Autumn, Spring |
| ECON101 | Macroeconomic Essentials for Business | 6 | Autumn, Spring |
| MATH201 | Multivariate and Vector Calculus | 6 | Autumn |
| STAT231 | Probability and Random Variables | 6 | Autumn |
| ECON205 | Macroeconomic Theory and Policy | 6 | Autumn, Spring |
| FIN 223 | Investment Analysis | 6 | Autumn, Spring |
| MATH202 | Differential Equations 2 | 6 | Spring |
| STAT232 | Estimation and Hypothesis Testing | 6 | Spring |
| Year 3 | |||
| FIN 323 | Portfolio Analysis | 6 | Autumn |
| MATH203 | Linear Algebra | 6 | Autumn |
| MATH317 | Financial Calculus | 6 | Autumn |
| FIN 328 | Retirement and Estate Planning | 6 | Autumn |
| FIN 320 | Risk and Insurance | 6 | Spring |
| FIN 322 | Advanced Corporate Finance | 6 | Spring |
| MATH305 | Partial Differential Equations | 6 | Spring |
| STAT332 | Linear and Generalised Linear Models | 6 | Spring |
| Year 4 | |||
| MATH407 | Research Methods | 6 | Autumn |
| STAT304 | Applied Probability and Financial Risk | 6 | Autumn |
| ECON331 | Financial Economics | 6 | Spring |
| STAT333 | Statistical Inference | 6 | Spring |
| INFO401 | Mathematics and Finance Honours Project | 12 | Annual |
| Plus TWO subjects from the List of Electives (see BMathFin(Hons)) | |||
Credit Arrangements
Refer to UOW's credit arrangements for information on how to apply for credit.
Other Information
Further information is available at:
Email: eis@uow.edu.au