B Math & Finance (1 Viewer)

[§eraphim]

Hey, what's B Math & Finance at UTS like? I have a friend that wants to transfer from UNSW into UTS for this degree. From the handbook, it seems like UTS's degree emphasises more on the pure maths side, esp functional analysis and measure theory ?

 

[Jeevers]

Hi Seraphim,
It has an integrated focus on mathematics, statistics, computing and finance.
It's basically an applied finance degree. Measure theory, functional analysis, gaussian elimination, simplex methods, discrete mathematics, differential equations and other maths subjects are just there to ensure you have concrete mathematical concepts and logic under your control. Sure, there is an emphasis on these subjects, but there are other subjects where the mathematical concepts you have learnt need to be applied, such as in higher level statistics and computing subjects.

Mathematics is vitally important when it comes to quantitative analysis, risk management and financial modelling. In the end, even majors in economics who end up doing honours or masters will have to learn the fundamentals involved if they want to progress. E.g. How is option-decay techniques or CAPM/APT/Black Scholes etc. used in producing sound financial models.

Anyway, all I'm saying is that the course (as you progress) provides a solid building block in mathematics and finance.

Cheers

Jeevers
3rd year, B Mathematics and Finance, UTS

 

[§eraphim]

Hi Seraphim,
It has an integrated focus on mathematics, statistics, computing and finance.
It's basically an applied finance degree. Measure theory, functional analysis, gaussian elimination, simplex methods, discrete mathematics, differential equations and other maths subjects are just there to ensure you have concrete mathematical concepts and logic under your control. Sure, there is an emphasis on these subjects, but there are other subjects where the mathematical concepts you have learnt need to be applied, such as in higher level statistics and computing subjects.

Mathematics is vitally important when it comes to quantitative analysis, risk management and financial modelling. In the end, even majors in economics who end up doing honours or masters will have to learn the fundamentals involved if they want to progress. E.g. How is option-decay techniques or CAPM/APT/Black Scholes etc. used in producing sound financial models.

Anyway, all I'm saying is that the course (as you progress) provides a solid building block in mathematics and finance.

Cheers

Jeevers
3rd year, B Mathematics and Finance, UTS

I like this program even though I am doing something similar at UNSW. It seems a lot more structured.

Btw pf all the math subjects, which do you think is most relevant? I probably won't have time to do any functional analysis (but ill be doing measure theory) or any advanced subjects on transform methods or DEs But i will be doing subjects in continuous optimisation, stochastic calculus and as much stats as i can possibly do. I reckon that the pure stuff is good for understanding research only.

 

[Jeevers]

The most relevant maths subject you will find is anything to do with operations research modelling and optimisation. Logistics, Supply Chain and transportation problems are areas where OR techniques will be relevant. Linear Algebra, DE's and Discrete Mathematics (probably the least relevant of all subjects) may not be as relevant but they are used in a lot of computational work in later subjects.
Linear algebra is relevant if you plan to go onto higher level studies (honours, masters).

First or 2nd yr maths subjects keep reappearing in later subjects. Yes, the relevance of the pure maths subjects can be questioned! It may not be fun but maths only helps us understand many processes and concepts which may come in handy in the future, such as financial problems. e.g. fibonacci sequences or fourier series analysis maybe. But doing as much statistics subjects is, I think, more important, interesting and applicable.

Regression Analysis , Stochastic processes and probability is a major of Actuarial students. I find these subjects the most relevant in building quantitative analysis and forecasting skills. Anyway, the pure side of things are next to useless, such as Analysis 1 and 2, but each of those subjects (like DE's) makes you look back and revise 1st and 2nd yr subs. In that sense, it isn't such a bad thing either as you sharpen your'e logic.

 

[§eraphim]

The most relevant maths subject you will find is anything to do with operations research modelling and optimisation. Logistics, Supply Chain and transportation problems are areas where OR techniques will be relevant. Linear Algebra, DE's and Discrete Mathematics (probably the least relevant of all subjects) may not be as relevant but they are used in a lot of computational work in later subjects.
Linear algebra is relevant if you plan to go onto higher level studies (honours, masters).

First or 2nd yr maths subjects keep reappearing in later subjects. Yes, the relevance of the pure maths subjects can be questioned! It may not be fun but maths only helps us understand many processes and concepts which may come in handy in the future, such as financial problems. e.g. fibonacci sequences or fourier series analysis maybe. But doing as much statistics subjects is, I think, more important, interesting and applicable.

Regression Analysis , Stochastic processes and probability is a major of Actuarial students. I find these subjects the most relevant in building quantitative analysis and forecasting skills. Anyway, the pure side of things are next to useless, such as Analysis 1 and 2, but each of those subjects (like DE's) makes you look back and revise 1st and 2nd yr subs. In that sense, it isn't such a bad thing either as you sharpen your'e logic.

for OR, which is better:discrete programming or continuous optimisation techniques? (i can choose between the two different subjects)

What about theory of dynamical systems?

 

[Jeevers]

Continuos optimisation is more interesting and challenging. Anything to do with discrete mathematics is kinda pure and less practical. Anyway, that's my advice. The greater the useful knowledge you gain from uni, the better you are off in the long run. Maybe you should consult someone like your'e professor on which of those two subs are better. They will be helpful too.

 

[Jeevers]

Not sure about what you mean by theory of dynamical systems. If you are referring to non-linear programming, integer programing or something along those lines, then that requires some lateral thinking. Seems kinda like pure maths to me. Ask practical professors in your'e course, they should be of prime help to you.

 

[§eraphim]

Not sure about what you mean by theory of dynamical systems. If you are referring to non-linear programming, integer programing or something along those lines, then that requires some lateral thinking. Seems kinda like pure maths to me. Ask practical professors in your'e course, they should be of prime help to you.

notes on dynamical systems and chaos theory

http://www2.maths.unsw.edu.au/ForStudents/courses/math3201/sigma/dyn_sys_hen.pdf

 

[hasterz]

im thinking of doing finance/maths at one of the unis, and i quite like the UTS one however one concern is the relativly low UAI , will this make the degree less prestigious making graduates less employable?

 

[velox]

isn't MQ best for that?

 

[hasterz]

yeh i heard their applied finance degree is very good, but generally speaking i would think UNSW for commerce

 

[Jeevers]

I wouldn't be too judgemental based on UAI marks when selecting an applied finance degree. UAI's tend to go down when there is a decrease in supply of students into this course. It was 88-90 after I completed my HSC. Find out more info about the course itself.

Hi Seraphim, thanks for that pdf on chaos theory and dynamical systems. By the way, are there any organizations at USyd which discuss share trading in general? Are there any short course at USYd related to finance?

Stay in touch

Jeevers
3rd yr, B Mathematics and Finance

 

[§eraphim]

I wouldn't be too judgemental based on UAI marks when selecting an applied finance degree. UAI's tend to go down when there is a decrease in supply of students into this course. It was 88-90 after I completed my HSC. Find out more info about the course itself.

Hi Seraphim, thanks for that pdf on chaos theory and dynamical systems. By the way, are there any organizations at USyd which discuss share trading in general? Are there any short course at USYd related to finance?

Stay in touch

Jeevers
3rd yr, B Mathematics and Finance

1. I go to UNSW.
2. UNSW has a few clubs and societies which hold trading-related activities. eg Investment Management Association (www.ima-unsw.org), the Finance Society (www.finsoc.unsw.edu.au) and the Commerce & Economics Society (www.comsoc.unsw.edu.au). The IMA is holding its own comp but most other societies promote the BRW Investment and a UNSW-only portfolio comp. UBS also has a comp...but Im a bit sketchy on the details.
3. I am not aware of any short courses in finance offered to undergrads at UNSW. However, check the website www.finance.unsw.edu.au. Other places you should consider are Macquarie Bank and the SIA/AIBF. They also provide training accredited by the ASIC.

 

[Jeevers]

* My mistake mate, sorry, UNSW.
Anyway Seraphim, I'm still deciding on whether to do Honours or not in this course, so i appreciate the information sent. Will be very useful at the end of the year. Is it really pointless in doing an honours if your'e not getting a Distinction average? Your'e from syd tech!

 

[§eraphim]

* My mistake mate, sorry, UNSW.
Anyway Seraphim, I'm still deciding on whether to do Honours or not in this course, so i appreciate the information sent. Will be very useful at the end of the year. Is it really pointless in doing an honours if your'e not getting a Distinction average? Your'e from syd tech!

IMO, it depends on your situation. If you like research, the marks shouldn't matter (but they do indicate how well you might do in honours which is purely independent work). If you don't think you can find the kind of work you want, you might as well stay on and do honours and kill it (1st class). UTS seems strong at quantitative finance at the postgrad level.

Chaos theory is pretty useless for finance in most cases. However, there is a lot of interesting research going on which is a little different from the run of the mill stuff found in textbooks. For example, if you search up "stochastic portfolio theory" by fernholtz, it talks about modelling long-term distribution of returns in equities markets using stochastic calculus. Also, "Foreign Exchange Option Symmetry" introduced by Kholodnyi and Price have been very interesting as I've never seen methods from group theory and mathematical physics used in finance. Price is actually a former professor from unsw maths who moved to usa to manage his own fund management business. I personnaly intend to pursue those topics: they're interesting, new and require expertise that you can't get from a typical Commerce degree because they require a relatively sophisticated mathematical background. (as opposed to the standard stuff being taught in finance and actuarial science).

*ends rant*

PS Yes, I am from Sydney Tech (class of 2003)....so?

 

[Jeevers]

I am from Syd Tech (class of 2002 though)...

 

[24]

What are the career prospects with a Maths and Finance degree?

 

[Jeevers]

Statistics, Quantitative finance, Insurance, Banking....
*the career prospects are too many to list and the above are just a few.

 

[§eraphim]

What's possible is different to what's probable...

 

[studynoob]

my maths tutor is doing b of maths and b of finance too and she goes to unsw and the way she decribes it as 'very hard" lol i know this post is pointless but why switch to uts? unsw is a great uni for maths and finance!!!