Why is Business Mathematics important? Mathematics has always been crucial in the analysis of markets, production systems, and overall business operations.
The rise of business activities in the early 20th century, particularly in banking and finance, greatly escalated in the 70's thanks to the comprehensive research of experts like Sharpe, Black, Scholes, Merton, as well as earlier pioneers such as Von Neumann, Danzig, Bellman, Blackwell, among others. Their contributions led to the widespread adoption of derivative products, risk management techniques, and improved production efficiency. The increased availability of computing power also played a significant role in the expansion of quantitative methodology by facilitating data collection and advanced processing. The purpose of a specialized graduate studies program is to equip individuals who wish to actively participate in modern advancements in areas like finance, logisti
...cs, and production with a solid understanding of quantitative techniques. The Business Mathematics program serves as an initial step toward achieving such proficiency.
The goal of the Program is to prepare individuals for careers utilizing mathematics in practical situations, rather than in research settings. This does not imply that a career in research is unavailable for our students - it is actually encouraged. However, the emphasis lies on a thorough comprehension of the real-world applications of quantitative methods in everyday business scenarios, rather than extensive mathematical knowledge. Striking a balance between the precision of mathematics and the creativity needed in business studies poses a challenge. Consequently, our students face constant pressure throughout their education, similar to the reputation held by MBA students.
It appears, however, that the alumni of the program greatly value this feature.
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