Maths required for finance? (1 Viewer)

[VIPPER]

Hi guys,

I'm wondering if anyone that is currently studying senior finance units/has completed a finance major could tell me what kind of maths I should focus on (or not study) if I haven't completed yr11/12 mathematics. I'm asking this because of 4 reasons:

1. There appears to be a lot of 'filler' topics in year 11/12 such as trig, circle geometry(?) etc. that I think might not be directly applicable to finance
2. I only completed general maths in year 12 - in my view general maths doesn't go past year 10 except small topics such as annuities.
3. I want to have a conceptual understanding of finance (and the mathematics behind it), rather than rote learn a few formulas and plug them into a calculator.
4. I don't want my WAM to be screwed because of finance.. I hear Corporate Finance II has a 30% fail rate.

Additionally, if anyone could be so kind: what background maths topics are assumed knowledge for learning stochastic processes and differential equations? << these appear to be in some 3rd year finance units.

Thanks!

 

[Trebla]

You'll need at the very least an understanding of probability theory and differential calculus. It is suggested that you take a bridging course.

 

[Fizzy_Cyst]

Stochastic Processes are quite difficult, you would need an understanding of probability, sets, markov chains, perhaps matrix notation, calculus, polynomials etc...

 

[VIPPER]

Excellent. Thank so much guys!