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ADMISSIONS TO PROGRAMME IN MATHEMATICAL FINANCE 2002 - 2003 Applications are invited from students of the College interested in joining a part-time one-year Certificate Programme in Mathematical Finance, being offered by the ICICI Centre for Mathematical Sciences. Successful participants will be awarded a certificate jointly by ICICI and the College. Two batches of students have already completed the Certificate Programme. However, while the earlier versions ran over two academic years, the Programme has now been restructured and the third course will be completed within the single academic year 2002-03. Teaching will start on 19th August, 2002 and is scheduled to run for twenty teaching weeks. The target group of students comprises advanced undergraduates following traditional full-time courses in Mathematics, Economics, Physics or Computer Science. There are no special pre-requisites except a good training in high-school mathematics and mathematical aptitude and maturity, and an interest in financial theory. The Programme will be a useful first course for those intending eventually to pursue a career in the corporate sector, investment banks, financial institutions, regulatory bodies like SEBI, and academic institutions. It covers basic asset pricing and portfolio theory, elements of corporate finance and international financial management, and the pricing of options and derivatives in the markets for bonds, shares, and foreign exchange. An important component of the course is an introduction to econometric methods and data analysis; the Programme will stress the use of these methods for financial analysis, but the techniques are of much wider applicability. Students are also provided training on computers in the handling of various software packages for numerical work with financial and other data. The Centre has strong links with leading financial institutions; and there has been a programme of summer training with such institutions to provide practical experience to students. Earlier batches of students have done internships at ICICI, Citibank, Prudential-ICICI, the Murugappa Group, Hongkong and Shanghai Bank, Kothari-Pioneer AMC, J. M. Morgan Stanley and other institutions. The course will stress conceptual developments originating in modern economic theory, rather than details of accounting procedures, tax planning, etc. As far as possible, the material is approached in a mathematically rigorous fashion, and the cookbook treatment found in finance courses in most Indian universities is avoided. Techniques in linear algebra, calculus, probability theory, statistical inference and the theory of stochastic processes, which are essential for a proper understanding of modern finance and econometric methods will be developed as part of the course. However, the emphasis is not on learning mathematics or economic theory for its own sake, but as necessary tools for a proper understanding of the working of financial markets. Application forms can be obtained from Mr. Vipul Kumar at the ICICI Centre for Mathematical Sciences in Room XF. The last date for submission of completed application forms is 5th August, 2002; they should be handed in to Mr. Vipul Kumar. Admission will be on the basis of past academic performance and an interview. Names of candidates shortlisted for the interview, and the dates and times of the interviews, will be displayed on the Notice Board of the Centre by 8th August, 2002. Further details of the course and fee structure can be obtained from Mr. Vipul Kumar.
N. Raghunathan |