2020 Undergraduate Courses

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, MATH305STAT304, 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

Last reviewed: 10 October, 2019