- 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 | 2018
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: 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 |
| MATH100 | Introduction to Mathematics | 6 | Autumn |
| STAT101 | Introduction to Statistics | 6 | Spring |
| MATH188 | Mathematics 2: Series and Integral Calculus | 6 | Spring |
| ACCY112 | Accounting In Organisations | 6 | Autumn, Spring, Summer 201/2018 |
| ECON100 | Economic Essentials for Business | 6 | Autumn, Spring |
| ECON102 | Economics and Society | 6 | Autumn, Spring |
| MATH123 | Discrete Mathematics and Difference Equations | 6 | Spring |
| CSIT110 | Fundamental Programming with Python | 6 | Autumn |
| Year 2 | |||
| FIN 222 | Corporate Finance | 6 | Autumn, Spring |
| ECON100 | Economic 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, Spring 2017/Autumn 2018 |
| Plus TWO subjects from the List of Electives (see BMathFin(Hons)) | |||
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