Institute of Mathematics & Applications at Bhubaneswar may be the only place in India offering a Masters in Computational Finance
March 20th, 2010
Expressbuzz has a report on the success of this program. A yahoo answers posting on this did not lead to any definitive answer. One of the answers there said:
The available course in IIT & IGNOU are not extensive and only covers macro level that to for few hours . This is a combination of Computing,Maths,Physics & Finance (Derivatives & Risk Management) . Let us wait for some more info.
Following is an excerpt from the expressbuzz report about the success of IMA Bhubaneswar’s program.
… With a student of the Institute of Mathematics and Application (IMA) at Andharua getting a job of financial analyst with SunGard Technology, Pune with a package of Rs 9 lakh per annum, the institute is hoping that more students will replicate the success in future with its PG course in computational finance.
In fact, IMA’s computational finance is the only such course offered by any institution in India. With risk and return constituting the major concern for every investor, mathematicians can try to capture patterns vis-a-vis predictability, which may help the former to decide on his/her plan.
Computational finance, otherwise called financial engineering, deals with portfolio selection, options and features, asset pricing, managing derivative markets and hedging uncertainty.
… While another student got a research offer from University of Antwerp, Belgium, another has received an offer from a leading insurance service provider as a risk assessment consultant, he added.
IMA’s bachelor-level course attracts applications from Kerala, Tamil Nadu, Andhra Pradesh, West Bengal, Madhya Pradesh and Bihar besides Orissa. It is encouraging to see applications by some students this year, who had participated in the Rural Mathematics Talent Search examination by the institute way back in 2003, he informed.
With 30 seats in each course, IMA has also got a research exchange programme with University of Western Ontario, Canada and has produced 50 researchers so far in the field.
Entry Filed under: Bhubaneswar-Cuttack-Puri- Khurda area (1),Institute of Mathematics & App., Bhubaneswar
2 Writeup
1. Chitta Baral | April 2nd, 2010 at 5:10 pm
From a posting in Orissaatoday group:
This is about the talk we had yesterday about what our alumni are doing.
1. In 2008 our first batch of students who took admission in our Master’s
programme in Computational Finance completed their couse. Before they
completed their course I received a mail from Sun Gard Technology
appreciating our couse and requesting me to help them recruit a person
competent to handle their problems of Quantitative Finance. I recommended
five names. They interviewed them telephonically. While they interviewed
four of them only for five miniutes they continued to interview our student
Dipak Kumar Sahoo for about an hour. Then they called him for video
conferencing. After which they made an initial offer of Rs 900,000/- per
annum. He met me the other day . He told me that now they have hiked his pay
by Rs 50,000/- per annum i.e his pay package now is Rs 950,000/- per annum
now. As you already know that Deepak hails from Nuapara district of Orissa
and did his B.Sc.(hons) in Mathematics from the Government College
Bhawanipatna, Kalahandi in 2006. Whie he was debating to join some M.B.A.
programme our advertisement came. He was attracted perhaps by the small
fee we were asking for and applied for it. In the final result of the
Master’s programme that year Chitta stood first and Deepak stood second.
2. They could have selected another boy Chitta Ranjan Mishra if he
applied . But he was interested to go for Ph.D. in Quantitative Finance. He
joined the University of Antwerp of Belgium with full scholarship.
3. Some other students of the same batch have got jobs but not like
Deepak.
4. The first batch of our B.Sc.( Hons) programme completed their couse in
2009. Of the first batch one student Alok Patel was selected to do
integrated Ph.D. programme in IIT , Bombay.
5. Two others were selected by to join the Central University Hyderabad.
One of them was all India second in list of selected candidates. He has also
got the prestegious NBHM scholarship.
6. Of the next batch one student has been selected for the integrated
Ph.D. programme of the TIFR Centre at Bangalore.
2. Chitta Baral | April 2nd, 2010 at 8:37 pm
See also http://www.tathya.in/news/story.asp?sno=3927