Master of Financial Mathematics

The program can be completed in 1.7 years of full-time study and consists of 12 courses totalling 72 Units of Credit (UOC). This includes 5 core courses (30 UOC) covering topics such as stochastic processes, discrete and continuous-time financial modelling, and computational methods; 5 elective courses (30 UOC) chosen from the School of Mathematics and Statistics and/or outside it; and 1 compulsory supervised research project (12 UOC).

All students must complete a compulsory supervised research project worth 12 UOC. This can be taken as MATH5925 Project (12 UOC) in one term, or as MATH5005 Advanced Mathematics Project A and MATH5006 Advanced Mathematics Project B (6 UOC each) over two consecutive terms with supervisor approval. A WAM of greater than 65 is recommended for MATH5925, and a WAM greater than 85 is recommended for MATH5005/5006. Enrolment in MATH5005/5006 requires approval from the Director of Postgraduate Studies and is subject to available research and supervision resources.

Yes. Students who have completed the Graduate Certificate (7659) with a WAM of 65 may apply to transfer and receive up to 24 UOC of Advanced Standing. Students who have completed the full 48 UOC of the Graduate Diploma (5659) with a WAM of 65 may receive up to 48 UOC of Advanced Standing. Students who have completed 24 UOC of the Graduate Diploma (5659) with a WAM of 65 may receive up to 24 UOC of Advanced Standing.

For domestic students, Commonwealth Supported Places (CSPs) are available; the 2026 indicative CSP first year fee is $7,000 and the indicative CSP fee to complete the degree is $10,000. For domestic full-fee paying students, the 2026 indicative first year full fee is $41,000 and the indicative full fee to complete the degree is $62,000. For international students, the 2026 indicative first year full fee is $60,500 and the indicative full fee to complete the degree is $93,500. All fees are subject to annual review and are a guide only.

UNSW is ranked #2 in Australia and in the global top 50 for mathematics according to the QS World University Rankings by Subject 2026. The School of Mathematics and Statistics maintains strong links with industry through research collaboration, ARC Linkage Grants, industry-sponsored courses, and ongoing alumni connections — providing students in the Master of Financial Mathematics with access to leading teaching, research, and professional networking opportunities.