Want to understand how the financial markets work? How to manage different types of risks? Interested in achieving a challenging technical degree with flexible career opportunities?
Financial engineering is a cross-disciplinary field combining financial and economic theory with the mathematical and computational tools needed to design and develop financial products, portfolios, markets, and regulations. Financial engineers manage financial risk, identify market opportunities, design and value financial or actuarial products, and optimise investment strategies.
Similar to other professional degrees at UC, the first year of the Bachelor of Science in Financial Engineering provides a breadth and depth of technical skills and knowledge across the key disciplines of finance and economics, mathematics and statistics, and computer science and software engineering.
This broad foundation is then built upon over the next two years, where you will undertake further core courses across these disciplines and can choose specialisations within Financial Engineering.
Why study Financial Engineering at UC?
This is the only programme directly targeted towards this career in New Zealand and echoes trends abroad, in the UK, USA and Europe. This subject was created in response to employer demand and international growth in Financial Engineering and related fields like the wider actuarial and business analytics industries.
The Bachelor of Science (BSc) major offers students a cross-disciplinary pathway across commerce, science and engineering subjects and utilises expertise from all these areas of strength at UC.
This programme can be completed full or part-time and can be entered in either February or July of each year.
Previous study of mathematics (calculus and/or statistics) is recommended at Year 13 level. For those who have not studied to that level, UC offers Headstart summer courses in January/February for students who have not studied mathematics or statistics for some time or who lack confidence in their skills.
The first-year, 100-level courses required to complete a Bachelor of Science majoring in Financial Engineering are:
- COSC121 Introduction to Computer Programming
- COSC122 Introduction to Computer Science
- ECON104 Introduction to Microeconomics or ECON199 (a STAR course for secondary school students)
- MATH102 Mathematics 1A
- MATH103 Mathematics 1B
- STAT101 Statistics 1
- Plus 30 points from 100-level Science or any other UC courses.
It is also recommended to consider studying (depending on your specialisation interests):
- FINC101 Personal Finance
- ACCT102 Accounting and Financial Information
- INFO125 Introduction to Programming with Databases or
- MATH120 Discrete Mathematics
For more information see the Bachelor of Science.
200-level and beyond
The broad foundation of the first year is then built upon over the next two years, where you will undertake further core courses across the disciplines and can choose specialisations within Financial Engineering.
Students who wish to major in Financial Engineering are required to take a number of core courses at 200 and 300-level. For the list of required courses, see the Regulations for the BSc.
Students may continue after a three-year BSc and enrol in the one-year BSc(Hons) programme. This extended programme further builds the breadth and depth of skills with a focus on financial and economic theory, along with the mathematical and statistical tools underpinning them.
Alongside the coursework a capstone project brings together these skillsets to develop abilities for independent study and broader skills for the job market or postgraduate study in Financial Engineering.
Students may also continue to a new 180-point Master of Financial Engineering, combining coursework and a project.
UC Financial Engineering graduates will be ready for the international workplace in the finance industry and related fields mentioned above. They will also be well prepared for further study in Financial Engineering in order to attain positions at higher technical levels.
Employers range from private industries, such as banking, investment, capital industries, security, data analysis, risk management and insurance, to the public sector (eg, Reserve Bank, The Treasury or regulatory bodies).
Graduates with such cross-disciplinary knowledge and highly technical skills will have openings to a breadth of career opportunities such as investment brokers, actuaries, and statisticians and data scientists.
Past graduates of the contributing departments from related paths of study have been employed by Macquarie Capital, Deloitte, BNY-Mellon, First NZ Capital, Reserve Bank of New Zealand, Vero Insurance, Wynyard Security Group and many government agencies like the Treasury, Stats New Zealand and the Ministry of Business, Innovation and Employment.
Find out more about what you can do with a degree at UC.
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