# Programs and Courses

**Source**: https://programsandcourses.anu.edu.au/course/FINM3003
**Parent**: https://programsandcourses.anu.edu.au/program/BACTS

- Code
  [FINM3003](https://programsandcourses.anu.edu.au/2026/course/FINM3003)
- Unit Value
  6 units

- Offered by
  Rsch Sch of Finance, Actuarial Studies & App Stats
- ANU College
  ANU College of Business and Economics
- Course subject
  Financial Management
- Areas of interest
  Finance

- Academic career
  UGRD
- Course convener
  - Dr Kevin Lu
- Mode of delivery
  In Person
- Co-taught Course
  - [FINM6006](https://programsandcourses.anu.edu.au/course/FINM6006)
- Offered in

  First Semester 2026\

  [See Future Offerings](#terms)

[Tweet](https://twitter.com/share)

var encodedUri = encodeURIComponent(location.href);

[Share on Facebook](#)

[Wattle Share](https://wattle.anu.edu.au/)

[Canvas](https://canvas.anu.edu.au)

[SELT Survey Results](http://unistats.anu.edu.au/internal/surveys/selt/learning/time-series/FINM3003_Time_Series_LRN.pdf)

Continuous Time Finance ([FINM3003](https://programsandcourses.anu.edu.au/2026/course/FINM3003))

- [Introduction](#introduction)
- [Learning Outcomes](#learning-outcomes)
- [Indicative Assessment](#indicative-assessment)
- [Workload](#workload)
- [Inherent Requirements](#inherent-requirements)
- [Requisite and Incompatibility](#incompatibility)
- [Prescribed Texts](#prescribed-texts)
- [Fees](#fees)
- [Offerings and Dates](#terms)

Continuous Time Finance provides an introduction to the theory and practice of derivative pricing and hedging. The aim of this course is to provide students with the mathematical skills needed for the valuation of derivatives. Focus will be on both the application of results and the underlying mathematical theory. These tools will be applied to derive the famous Black-Scholes formula, to price options on equities, currencies and interest-rate derivatives.

## Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. Understand and apply the arbitrage-free approach to pricing.
2. Utilise the mathematical tools required for pricing derivatives in this framework, such as Ito’s formula, martingales, stochastic differential equations and the change of measure.
3. Examine the stochastic interest rate models and use them to evaluate simple cash flow models.

## Indicative Assessment

1. Typical assessment may include, but is not restricted to: exams, assignments, quizzes, presentations and other assessment as appropriate (100) [LO 1,2,3]

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the [ANU Online](http://services.anu.edu.au/information-technology/software-systems/turnitin) website.

## Workload

Students are expected to commit 130 hours of work in completing this course. This includes time spent in scheduled classes and self-directed study time.

## Inherent Requirements

Not applicable.

## Requisite and Incompatibility

To enrol in this course you must have previously completed [FINM2002](https://programsandcourses.anu.edu.au/2026/course/FINM2002) and [STAT2005](https://programsandcourses.anu.edu.au/2026/course/STAT2005). Incompatible with [FINM6006](https://programsandcourses.anu.edu.au/2026/course/FINM6006).

## Prescribed Texts

Information about the prescribed textbook will be available via the Class Summary.

## Fees

Tuition fees are for the academic year indicated at the top of the page.

**Commonwealth Support (CSP) Students**\
If you have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). More information about your student contribution amount for each course at **[Fees](https://www.anu.edu.au/students/program-administration/fees-payments/student-contributions)**. 

Student Contribution Band:
:   [34](https://students.anu.edu.au/fees/domestic/csp.php)

Unit value:
:   6 units

If you are a **domestic graduate coursework student** with a Domestic Tuition Fee (DTF) place**or international student** you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at **[Fees](http://students.anu.edu.au/fees/)**.

Where there is a unit range displayed for this course, not all unit options below may be available.

| Units | EFTSL |
| --- | --- |
| 6.00 | 0.12500 |

## Course fees

[Domestic](#indicative-fees__domestic)
[International](#indicative-fees__international)

Domestic fee paying students

| Year | Fee |
| --- | --- |
| 2026 | $5520 |

International fee paying students

| Year | Fee |
| --- | --- |
| 2026 | $7020 |

**Note:** Please note that fee information is for current year only.

\

## Offerings, Dates and Class Summary Links

ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the [Timetable webpage](https://www.anu.edu.au/students/program-administration/timetabling).

The list of offerings for future years is indicative only.
\

Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.

[2026](#course-tab-1)

[2027](#course-tab-2)

### First Semester

| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
| --- | --- | --- | --- | --- | --- | --- |
| 3352 | 23 Feb 2026 | 02 Mar 2026 | 31 Mar 2026 | 29 May 2026 | In Person | [View](https://programsandcourses.anu.edu.au/course/FINM3003/First%20Semester/3352) |

### First Semester

| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
| --- | --- | --- | --- | --- | --- | --- |
| 5156 | 22 Feb 2027 | 01 Mar 2027 | 31 Mar 2027 | 28 May 2027 | In Person | N/A |