Master of financial mathematics ( Need advice )

[Npomo]

I graduated with a bachelor in Banking and Finance, I want to study quantitative finance and also risk management. I just saw the course structure of master of financial mathematics in the University of Wollongo, Australia (Which is here ). I'm wondering if this course is suitable or it's focus is mainly mathematics?

Thank you,

 

[bigbadwolf]

Waste of time and money. Generic stat and math courses from a no-name school. Didn't even see a coding course.

 

[Daniel Duffy]

Waste of time and money. Generic stat and math courses from a no-name school. Didn't even see a coding course.

The numeric course is

1. Determine the effectiveness of various numerical methods;
2. Use Newton’s iteration method to find root of a nonlinear equation;
3. Write simple program based on finite difference and finite element methods;
4. Apply appropriate and special numerical methods such as the Monte Carlo method and the binomial method to solve problems in finance;


I don't see how FEM can be done justice (you need at least 10 hours; same holds for FDM). As undergrad, I have a full year of FEM and btw you need to know Functional Analysis and numerical methods in order to do it.
It's like a judo yellow belt getting on the mat with brown and black belts.

 

[bigbadwolf]

I don't see how FEM can be done justice (you need at least 10 hours; same holds for FDM). As undergrad, I have a full year of FEM and btw you need to know Functional Analysis and numerical methods in order to do it.
It's like a judo yellow belt getting on the mat with brown and black belts.

I don't know if you've seen that 1973 British horror flick, Theatre of Blood, with Vincent Price, Diana Rigg and Robert Morley. The Morley character is force-fed his own poodle through a funnel. This is the kind of force-feeding that is taking place in these courses and programs -- too much, too fast, too superficially.

 

[Daniel Duffy]

I don't know if you've seen that 1973 British horror flick, Theatre of Blood, with Vincent Price, Diana Rigg and Robert Morley. The Morley character is force-fed his own poodle through a funnel. This is the kind of force-feeding that is taking place in these courses and programs -- too much, too fast, too superficially.

I remember it indeed. They don't make them like they used to make them. Was that a mushroom sauce they served up?

Actually it was *two* poodles. He just didn't have the stomach for it.

 

[Npomo]

Thank you, I think i get a general idea of how that course is.
And here I want to as for insight of another structures (here) (sorry if you find something is hard to read but basically most of the information is translate to English in the site).

 

[bigbadwolf]

I remember it indeed. They don't make them like they used to make them.

Actually it was *two* poodles. He just didn't have the stomach for it.

Right you are. It's been 40 years since I saw it. You wouldn't think that an unfavorable review of a theatre performance would exact such retribution.

 

[Daniel Duffy]

Right you are. It's been 40 years since I saw it. You wouldn't think that an unfavorable review of a theatre performance would exact such retribution.

Thespians are very touchy people.

BTW I loved the Hammer films as well, Peter Cushing et al.

 

[TehRaio]

Thank you, I think i get a general idea of how that course is.
And here I want to as for insight of another structures (here) (sorry if you find something is hard to read but basically most of the information is translate to English in the site).

can't say anything about this one as it's not in english for most of it.
if you have done enough mathematics in your undergraduate degree, do the Msc in quantitative finance offered by university technology sydney.

 

[Npomo]

can't say anything about this one as it's not in english for most of it.
if you have done enough mathematics in your undergraduate degree, do the Msc in quantitative finance offered by university technology sydney.

well, basically, the mandatory courses of this one are probability &Statistics, linear algebra, stochastic calculus, Risk analysis, Models for risk management, Basel 2 and 3 regulations, Derivative pricing in practice, capstone projects.
Elective courses ( choose 3 ): leadership development: analysis to action; Macroeconomic models; Time series analytics and forecasting; Decision analysis; Machine learning and data mining; Database and information systems
That's all for year 1, in year 2, the course offers research or a transitional study in ENSAE-ParisTech
I just wonder if this course is good enough toward risk management and quantitative finance as it's tool...

 

[TehRaio]

well, basically, the mandatory courses of this one are probability &Statistics, linear algebra, stochastic calculus, Risk analysis, Models for risk management, Basel 2 and 3 regulations, Derivative pricing in practice, capstone projects.
Elective courses ( choose 3 ): leadership development: analysis to action; Macroeconomic models; Time series analytics and forecasting; Decision analysis; Machine learning and data mining; Database and information systems
That's all for year 1, in year 2, the course offers research or a transitional study in ENSAE-ParisTech
I just wonder if this course is good enough toward risk management and quantitative finance as it's tool...

it's only worth it if you can eventually transfer to ParisTech, it's got great reputation in france and would definitely help you get an internship once you graduate (that is if you speak french).
I don't know how the size of the financial centre in paris compares to Sydney's so you will have to figure that out.

 

[Npomo]

it's only worth it if you can eventually transfer to ParisTech, it's got great reputation in france and would definitely help you get an internship once you graduate (that is if you speak french).
I don't know how the size of the financial centre in paris compares to Sydney's so you will have to figure that out.

Thank you, that's great insight!

 

[JLevin]

UWollongong does ok in finance and mathematics in Australia actually... the main places people go to do quant finance are UTS, UNSW and maybe USyd. ANU has some great professors/academics, but it's a bit out of the way from where most of the "action" is happening in Sydney. UWollongong is an hour out from Sydney too. Everyone I know from UWollongong is either a trader or in IB actually.

I'm not going to comment on the quality of the programs though, because I don't know enough. Note: Australia's quant finance market is relatively small, and employers can't choose students from great programs like in the US and UK...

 

[Npomo]

UWollongong does ok in finance and mathematics in Australia actually... the main places people go to do quant finance are UTS, UNSW and maybe USyd. ANU has some great professors/academics, but it's a bit out of the way from where most of the "action" is happening in Sydney. UWollongong is an hour out from Sydney too. Everyone I know from UWollongong is either a trader or in IB actually.

I'm not going to comment on the quality of the programs though, because I don't know enough. Note: Australia's quant finance market is relatively small, and employers can't choose students from great programs like in the US and UK...

Thank you.

 

[James Battle]

Hi Npomo,
I was a quant for the past 9 years (at UBS) and in technology for about the same time at other IB's. Give me a call and I'll try and help you out. Disclaimer: I'm now a head-hunter.