Master of Financial Mathematics
- Commencing Terms
- Term 1
- Duration
- 1.7 Year(s)
- Delivery Mode
- Face-to-face (includes blended)
- Campus
-
Kensington
- Codes
- Program code 8161
- CRICOS code 058739M
-
Commonwealth Supported Places are available for this program2025 Indicative CSP first year fee
- $7,500*
-
2025 Indicative full fee to complete degree
- $11,000*
-
2025 Indicative first year full fee
- $56,500*
-
2025 Indicative full fee to complete degree
- $87,500*
Fees
Fees
-
#3 in Australia
-
Industry collaboration
-
Broad career opportunities
- Overview
- Entry requirements
- What will I study?
- Future careers
- How to apply
- Fees & Scholarships
Overview
Modern finance relies heavily on mathematical modelling to manage investment portfolios, financial planning, pricing of financial products and analysing business risk. The Master of Financial Mathematics was introduced in 2007 to provide the financial sector (banks, insurance companies, investment companies) with a stream of highly trained specialists in quantitative finance. This program is suitable for students with an aptitude for mathematics and a keen interest in finance, who are looking for a pathway into the financial industry.
Key features
- Research project
You’ll complete a compulsory supervised research project, which gives you an opportunity to make practical use of the knowledge you gain through your master’s program. This project will prepare you for the problem-solving and report-writing aspects of future employment, or for progression to a research degree.
- Wide range of career opportunities
Skills in portfolio management, financial product pricing and analysis of business risk are highly regarded by finance industries. The Master of Financial MathematicsÌýopens up a variety of career opportunities across the financial sector andÌýgovernmentÌýfinancial institutions.ÌýIt canÌýalso provide great preparation for further research in mathematical finance.Ìý
- Transferable skills
Studying mathematics improves your logical thinking, problem-solving and analytical skills. Solving mathematical and statistical problems also requires creativity and adaptability. These skills are highly valued by employers.
Why study this degree at ¹úÃñ²ÊƱ?
Learn with the best
We’re ranked #2 in Australia and in the global top 50 for mathematics (QS World University Rankings by Subject, 2025).ÌýAt ¹úÃñ²ÊƱ, we provide comprehensive coverage of modern mathematics, underpinned by leading teaching and research.
Leverage our industry connections
Tap into our network of industry and research partners to start building your own professional connections. The School of Mathematics and Statistics maintains and attracts strong links with industry, from ongoing research collaboration to industry involvement in our teaching activities. Our researchers work in partnership with industry to solve real-world problems. This collaboration with industry includes Australian Research Council (ARC) Linkage Grants held by members of staff. Our industry links extend to ourÌýlearning and teachingÌýactivities, with industry partners sponsoring some of our courses and degrees. Other links with industryÌýare maintained through visiting appointments, consulting services offered by our staff and ongoing connections with ourÌý.
Ìý
Want to see more from ¹úÃñ²ÊƱ Science?
Entry requirements
For entry into this degree, students must have:
- completed a Bachelor of Mathematics or a Bachelor of Science undergraduate degree with a major in mathematics or statistics
- a sufficient mathematical and/or statistical background, as indicated by a minimum weighted average mark (WAM) of 65 or above in level III mathematics and/or statistics university courses.
Advanced standing
Honours graduates in mathematics or statistics from ¹úÃñ²ÊƱ (or equivalent) may receive advanced standing of up to a maximum of 24 units of credit. This means you can complete the program with a further 48 units of credit (one year of full-time study).
Students with a Graduate Diploma in Mathematics and Statistics from ¹úÃñ²ÊƱ with a weighted average mark of 70 or more may receive advanced standing of up to a maximum of 48 units of credit. This means you can complete the program with a further 24 units of credit (0.5 year of full-time study).
The specific advanced standing to be awarded will be determined at the time of admission and will be based on your background and previous study.
English language requirements
Ìý
You may be asked to provide evidence of your English proficiency to study at ¹úÃñ²ÊƱ depending on your educational background and citizenship. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why ¹úÃñ²ÊƱ requires a minimum English language competency for enrolment.
If you’re completing an Australian Year 12 qualification (e.g. NSW HSC or equivalent), you do not need to provide anything extra to prove your proficiency. Your qualification will be used as evidence of your English proficiency.
If you do need to provide evidence of your English proficiency, this will be indicated in your application. You can prove this by providing evidence that you meet one or more of the following criteria:
- English language tests and university English courses
- Prior study in the medium of English
- Other qualifications
If you need to improve your English skills before you start your degree, are for you. The programs are suitable for various English levels and help you prepare for university studies and life in Australia.
For more details, visit the English Language Requirements page.Ìý
For entry into this degree, students must have:
- completed a Bachelor of Mathematics or a Bachelor of Science undergraduate degree with a major in mathematics or statistics
- a sufficient mathematical and/or statistical background, as indicated by a minimum weighted average mark (WAM) of 65 or above in level III mathematics and/or statistics university courses.
Prospective international students should note they will need to meet the University English language requirements
Advanced standing
Honours graduates in mathematics or statistics from ¹úÃñ²ÊƱ (or equivalent) may receive advanced standing of up to a maximum of 24 units of credit. This means you can complete the program with a further 48 units of credit (one year of full-time study).
Students with a Graduate Diploma in Mathematics and Statistics from ¹úÃñ²ÊƱ with a weighted average mark of 70 or more may receive advanced standing of up to a maximum of 48 units of credit. This means you can complete the program with a further 24 units of credit (0.5 year of full-time study).
The specific advanced standing to be awarded will be determined at the time of admission and will be based on your background and previous study.
English language requirements
You may be asked to provide evidence of your English proficiency to study at ¹úÃñ²ÊƱ depending on whether you are from an English-speaking background or non-English speaking background. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why ¹úÃñ²ÊƱ requires a minimum English language competency for enrolment.
If English is not your first language, you’ll need to provide proof of your English proficiency before you can be given an offer to study at ¹úÃñ²ÊƱ. You can do this by providing evidence that you meet one or more of the following criteria:
- English language tests and university English courses
- Prior study in the medium of English
- Other qualifications
If you need to improve your English skills before you start your degree, are for you. The programs are suitable for various English levels and help you prepare for university studies and life in Australia.
For more details, visit theÌýEnglish Language RequirementsÌýpage.Ìý
Check the specific English language requirements for this program
Program structure
In the Master of Financial Mathematics,Ìýyou’llÌýcomplete coursework subjects in stochastic processes and analysis, continuous and discrete-time financial modelling and computational methods for finance. You’ll alsoÌýundertakeÌýa research project andÌýchooseÌýelectives from a wide range of topics.
Full program structure
The Master of Financial Mathematics can be completed in 1.7 years of full-time study. The program is made up of 12 courses (72 UOC) when taken as a standalone program. This includes:
- 5 core courses (30 UOC)
- 5 electives chosen from the School of Mathematics and Statistics and/or outside the School of Mathematics and Statistics (30 UOC)
- 1 research project (12 UOC)
-
Students must take 30 units of credit (UOC) of the following courses:
- Advanced Stochastic Processes (6 UOC)
- Introduction to Stochastic Analysis (6 UOC)
- Discrete Time Financial Modelling (6 UOC)
- Computational Mathematics for Finance (6 UOC)
- Continuous Time Financial Modelling (6 UOC)
-
Students must take 5 elective courses (30 Units of Credit) listed in the .
From the list of electives, students are allowed to take up to 3 courses (18 UOC) external to the School of Mathematics and Statistics (that is, courses that do not have a MATH or DATA prefix).
*Please refer to theÌýhandbookÌýfor rules regarding enrolment in electives.
-
Students must take 12 UOC of the following courses:
MATH5925 Project (12 UOC) in one termÌý
- MATH5005 Advanced Mathematics Project A (6 UOC) and MATH5006 Advanced Mathematics Project B (6 UOC) over two consecutive terms (with approval of supervisor).
Please note:
A WAM of greater than 65 is recommended for MATH5925.
A WAM of greater than 85 is recommended for MATH5005/5006.Ìý
Students seeking to enrol into a MATH5005/5006 project are required to have the approval of the Director of Postgraduate Studies.Ìý
Enrolment into these courses is subject to appropriate research and supervision resources being available.Ìý
Ìý
-
The graduate certificate and graduate diploma provide an articulation pathway into the Master of Financial Mathematics. 
Students who have completed theÌýGraduate Certificate (7659)Ìýand have a WAM of 65 may apply to transfer into this Masters program and will receive up to 24 UOC of Advanced Standing.
Students who have completed the full 48 UOC of theÌýGraduate Diploma (5659), and have a WAM of 65, may apply to transfer into this Masters program and will receive up to 48 UOC of Advanced Standing.
Students who have completed 24 UOC of theÌýGraduate Diploma (5659), and have a WAM of 65, may apply to transfer into this Masters program and will receive up to 24 UOC of Advanced Standing.Ìý
Future careers
Mathematicians are trained to think logically and to approach problems in analytical and creative ways. Studying mathematics prepares you for a wide variety of careers as it equips you with the problem-solving, computing and communication skills that employers want.
Skills in portfolio management, financial product pricing and analysis of business risk are highly regarded by finance industries. The Master of Financial MathematicsÌýwill prepare you for a successful career across the financial sector andÌýgovernmentÌýfinancial institutions.
The handling of large amounts of money requires the use of sophisticated mathematical techniques to limit risk. The official regulator of the financial sector - the APRA - regularly advertises graduate opportunities.
Academic and research positions within universities, the CSIRO and the Defence Science and Technology Organisation are available for those with the drive to discover new knowledge in mathematics.Ìý
How to apply
Applications must be submitted through ourÌýÌýportal. We encourage you to submit your completed application as early as possible to ensure it will be processed in time for your preferred term. Some high-demand programs and Faculties with limited places may have an earlier application deadline or commencement date.Ìý.
Ready to start your application?
For most international students, applications are submitted viaÌýour  service. We encourage you to submit your completed application as early as possible to ensure it will be processed in time for your preferred term.
Some high-demand programs with limited places, may have an earlier application deadline or may have an earlier commencementÌýdate. ForÌýmore information visitÌýour .
Ready to start your application?
Fees & Scholarships
$7,500*
$11,000*
There are limited Commonwealth Supported Places (CSPs) available for this degree. Domestic students who receive a CSP will have a substantial proportion of their fees subsidised by the Australian government. Your eligibility to receive a CSP will be automatically assessed when you apply. Start your postgraduate application today with our guide onÌýhow to apply. 
Commonwealth Study Assistance such as Austudy, and Youth Allowance is available for some master’s degrees. For the most up-to-date information and list of degrees visitÌý¹úÃñ²ÊƱ Current Student Financial Support.
There are a limited number of Commonwealth Supported Places (CSP) available for this degree/program. Your eligibility to receive a CSP will be automatically assessed when you apply. ÌýTo find out more about Commonwealth Supported Places visit Postgraduate Commonwealth Support.
*Fees are subject to annual review (or when required) by the University and may vary accordingly.
Indicative fees are a guide only and have been calculated based on the typical enrolment patterns of students undertaking the degree/program. The indicative fees listed here is an estimate for tuition only and excludes non-tuition fees and charges. The amount you pay will vary depending on the calendar year of enrolment, the courses you select and whether your study load is more or less than 1 Equivalent Full Time Student Load (48 units of credit (UOC) per year)
You should not rely on indicative fees as fee increases are assessed when required and may exceed the indicative figures listed here. Actual fees are calculated on enrolment. More information on fees can be found at the .
*Fees are subject to annual review by the University and may increase annually, with the new fees effective from the start of each calendar year. The indicative fees listed here are based on an estimated average and are for tuition only, other fees and charges are not included. The amount you pay will vary depending on the calendar year to enrol, the courses you select and whether your study load is more or less than 1 Equivalent Full Time Student Load (8 courses per year).
Indicative fees are a guide for comparison only based on current conditions and available data. You should not rely on indicative fees. More information on fees can be found at theÌý.
Indicative fees to complete the program have been calculated based on a percentage increase for every year of the program. Fee increases are assessed annually and may exceed the indicative figures listed here.
Indicative fees to complete the program include tuition plus an estimate of study-related costs of approximately $1,000 per year. To find out more about other costs, visitÌý.
Scholarships
At ¹úÃñ²ÊƱ, we award over $83 million in scholarships each year. We pride ourselves on rewarding excellence and making university accessible to students from all walks of life. Whether you’re a domestic or international student, our range of scholarships, prizes and awards can support your journey.
QS World University Rankings, 2025
AFR Top100 Future Leaders Awards, 2020-2025
#1 Australian uni attended by start-up founders
Studying at ¹úÃñ²ÊƱ has granted me fantastic opportunities, professionally and personally.
