North-West University

Bachelor of Science Honours in Financial Mathematics

Physical, Mathematical, Computer and Life Sciences - Mathematical Sciences

Purpose and Rationale

Purpose and Rationale

Purpose:

The purpose of the Bachelor of Science Honours in Financial Mathematics is to prepare learners for research-based postgraduate study. It serves to deepen learners' expertise in the field of Financial Mathematics, and to develop research capacity in the methodology and techniques of the field of Financial Mathematics. The qualification demands a high level of theoretical engagement and intellectual independence.

Rationale:

The qualification is intended to provide the country with learners who have specialised knowledge in Financial Mathematics and can, therefore, serve the country in a variety of important ways, in both the public and private sectors. Qualifying learners will be prepared for specific occupational possibilities as qualified Financial Engineers or Financial Mathematicians by obtaining knowledge and skills, as well as research abilities to examine and solve problems related to the discipline. This qualification prepares learners for research-based postgraduate studies at Level 9.

Outcomes

  1. Demonstrate depth of knowledge and skills to solve practical financial engineering/mathematics problems.
  2. Formulate and solve problems using financial engineering, stochastic process, statistical time series, and statistical data analysis methodologies, models and techniques.
  3. Formulate and solve problems using measure-theoretic principles, structured derivative products and price derivative products using Financial Mathematics.
  4. Conduct and report research under supervision in the form of a discrete research component that is appropriate to the discipline or field of study.

Assessment Criteria

Associated Assessment Criteria:

  1. Demonstrate integrated knowledge and understanding of the use of stochastic calculus theory to model and price financial securities.
  2. Analyse different types of risks and apply the appropriate hedging instrument in each case.
  3. Formulate valuation problems in mathematical forms using appropriate notation.
  4. Evaluate modern financial theories and select the appropriate instruments for different risk management applications.
  5. Use price simple derivative securities utilising appropriate software, if applicable.
  6. Develop and communicate their ideas and opinions in well-formed arguments, using appropriate academic, professional, or occupational discourse.
  7. Select, apply, and critically judge the effectiveness of the implementation of relevant statistical models.
  8. Implement and apply linear statistical models to solve real-world problems and answer questions related to the associated experimental design.
  9. Solve real-world problems through the use of stochastic processes.
  10. Select, apply, and critically judge the effectiveness of the implementation of relevant time series models.
  11. Implement and apply time series models to solve real-world problems.
  12. Apply the principles and applicable methods to solve problems concerning:
    • Basic topological concepts, continuity, compactness, nets and the inadequacy of sequences,
    • Product spaces and Tychonoff's theorem, normal sets and Urysohn' lemma, separation axioms and regularity, compactness (revisited),
    • Local en Para compactness, compactifications, metrisability, connectedness, topological manifolds and the embedding theorem.

Integrated Assessment:

  • Formative assessment will be undertaken through projects, assignments, case studies and tests during the year in the modules.
  • In some modules, formative assessment will include portfolios, practical evaluations and a research proposal.
  • Learners will also write a summative and integrated exam (written and practical) and will submit a research report on discrete research that was conducted under supervision at the end of the year for summative assessment.

Qualification Details

Type
Honours Degree
NQF Level
08
Min. Credits
120
SAQA Source
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North-West University
Description
North-West University (NWU) is a public university located in South Africa. It was established in 2004 through the merger of three institutions: the Potchefstroom University for Christian Higher Education, the University of Bophuthatswana, and the University of North-West. NWU has three campuses, namely Potchefstroom, Mahikeng, and Vanderbijlpark. The university offers a wide range of undergraduate and postgraduate programs across various disciplines, including arts, business, education, engineering, health sciences, law, natural sciences, and theology. NWU is known for its strong focus on research and innovation, with several research centers and institutes dedicated to advancing knowledge and addressing societal challenges. NWU is committed to providing quality education and fostering a supportive and inclusive learning environment. It strives to produce graduates who are well-equipped with the necessary skills and knowledge to contribute to the development of South Africa and the global community. The university also promotes community engagement and social responsibility through various outreach programs and initiatives. Overall, North-West University is a reputable institution that values academic excellence, research, and community engagement, making it a sought-after choice for students seeking higher education in South Africa.

This page includes information from the South African Qualifications Authority (SAQA) . Builtneat Pty Ltd trading as Study Start, has modified all or some of this information. SAQA has not approved, endorsed, or tested these modifications.