Finance

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Finance (Accounting as a complementary area of study) is a means of monitoring and guiding the operations in ways that allow managers to gain an accurate and up-to-date picture of the financial health of the organisation.

Quantitative finance is a much more sophisticated approach to financial and commercial analysis in that it combines high-level mathematical skills with the Finance major which allows a graduate to operate at the cutting edge of the financial market.

Course Outline

Both Finance and Quantative Finance can be studied as a major in the Bachelor of Commerce. This includes combined courses which includes this degree. Finance and Quantative Finance can also be studied as a second major in the Bachelor of Economics.

Level 1
In the first level of the Bachelor of Commerce you will study eight units, of which three are compulsory.

You might like to complete an Accounting and Finance double major as these areas are complementary.

Upper levels
There are three finance majors available:

FINANCE (CORPORATE)
The Corporate Finance major develops the basic foundations of finance from the corporate financial manager’s point of view and is aimed at students wishing to acquire skills in the area of corporate financial and investments decision-making. It includes an understanding of capital markets and sources of finance, divided and capital structure, the basic principles and applications of constructing diversified investment portfolios, the risk management of firms and other institutions, and returns on equity, bonds and foreign currency, etc. Significant emphasis is placed on corporate financial decisions such as project evaluation, managing risk, dividend payouts, capital raisings, and growth by mergers and takeovers. Graduates are likely to find employment in banks, corporations, financial institutions, and businesses as financial consultants, advisers and managers.

FINANCE (INVESTMENT)
The Investment Finance major is suitable for students seeking skills in applications areas of modern finance, especially in portfolio allocation, investment and the use of modern financial instruments such as options and futures for risk management and hedging purposes. While there will normally be some overlap with corporate finance subjects, in investment finance the emphasis is on workings of capital markets including the implications of efficient market theory and the risk/return tradeoff for the construction and evaluation of investment portfolios. Strategies for hedging and managing risk, and capital management, are also important. A moderate level of mathematics and statistics is involved. Graduates would be expected to find employment in banks, superannuation funds, and large financial institutions, and with stockbrokers, as investment advisers, fund managers, risk analysts, strategic investment advisers, financial consultants and credit managers.

FINANCE (QUANTITATIVE)
The Quantitative Finance major includes much of the material from the corporate/investment majors together with a minor in mathematics. It specialises in areas which are important in the most modern developments of advanced financial instruments such as options and other derivative securities, and in the most up-to-date foundation material regarding efficient markets theory and its application to investment analysis and portfolio selection theory. It is targeted at students with a strong mathematical background at TEE level. The topics emphasise the essential principles both in finance and in probability/statistics which underlie the subject, and the applications of those principles in practical areas.

The major is specially designed for people who wish to work at the cutting edge in financial markets. Graduates with a Quantitative Finance major are expected to establish careers as specialist risk managers, investment analysts, strategic advisors, as developers, appliers and evaluators of complex financial instruments (financial engineers), as specialists in options, futures and other derivative securities, and as researchers specialising in financial markets.

Double majors and minors
Finance can be studied with other majors within the Faculty of Economics and Commerce and some other Faculties. You acn also complete a minor with your Finance major.

BUSINESS LAW MINOR
There is no Law major available to students within the Faculty of Economics and Commerce. However, a comprehensive Business Law minor is available which complements the other majors, and offers excellent commercial skills. Four units are required to complete this minor.

Duration

Bachelor of Commerce: 3 years full time, up to 10 years part time
Bachelor of Economics: 3 years full time, up to 10 years part time

Career Opportunities 

Graduates with a Finance major can expect to work as financial consultants, merchant bankers, credit managers, financial analysts and fund managers.

Recent employers include ANZ Bank, Arthur Andersen, Australian Taxation Office, Barry Chester & Nick, BDO Nelson Parkhill, Deloitte Touche Tomatsu, Ernst and Young, Heytesbury Holdings Pty Ltd, KPMG, Price Waterhouse Coopers, Norwich Union Financial Services and the Ministry of Premier and Cabinet.

A major in Quantitative Finance will lead to employment as specialist risk managers, developers of complex financial products (financial engineers), specialists in options and futures and researchers specialising in financial markets.

A double major, or double major plus minor, offers prospective employers a range of skills that they can develop. It also offers a wide range of options of career choice for those who know the area in which they want to work, but may have little idea of the final direction that will suit them best.