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Institute for Data Sciences and Engineering at Columbia University

Given the recent problems on Wall Street and in banking, looks like the world may be moving toward "Big Data" analytics. This will provide a new venue for MFE graduates to seek employment outside of finance.

Mayor Michael R. Bloomberg and Columbia University President Lee C. Bollinger announced an agreement July 30 between the City of New York and Columbia University that will lead to the creation of a new Institute for Data Sciences and Engineering, to be located at Columbia's Morningside Heights and Washington Heights campuses in New York City, and the hiring of dozens of new faculty within the university's Fu Foundation School of Engineering and Applied Sciences.

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One of the five centers created within this new Institute for Data Sciences and Engineering is Financial Analytics

Financial Analytics
The Financial Analytics Center will bring together expertise in finance theory, machine learning, statistics, signal processing, operations, and natural language processing, and will support collaborations with an appropriately trained student body as well as with the financial industry. The result will be entrepreneurial ventures with the potential to define finance and financial engineering for the 21st century. For instance, one of Columbia's statisticians is working with Columbia Technology Ventures (CTV) to develop a startup based on statistical algorithms for predicting market moves with greater accuracy. See also Professor Emanuel Derman's research on financial models and his book Models.Behaving.Badly., IEOR Assistant Professor Jose Blanchet, and Business School Professor and Vice Dean of Research Assaf Zeevi. The Center will be housed on the Morningside campus.
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The announcement is the next milestone in the City's groundbreaking Applied Sciences NYC initiative, which seeks to dramatically increase New York City's capacity for applied sciences and engineering while strengthening and transforming the City's economy for generations.

Education Agenda
The new Institute will play a key role in enhancing the pool of talented engineers and future leaders in industry-focused research and innovation, whether at a more traditional engineering firm or nascent high-tech startup. Part of the Institute's education component will center on promoting student teaching and learning, including programs for undergraduate students, K-12 students, and New York City teachers. The institute will engage 300 M.S. students and 150 doctoral students in its education and research programs.

Read more at
http://www.columbia.edu/cu/seas/IDSE/index.html
http://www.columbia.edu/cu/seas/IDSE/directors.html
http://www.columbia.edu/cu/seas/IDSE/pressrelease.html
http://www.nyc.gov/html/om/html/2012b/pr280-12.html
 
This class sounds really good....hopefully it is offered next semester/ next year. Thanks for the link to the blog - should be able to see if it's as good as it looks on paper.
 
I almost registered for it but opted to go with a computational finance course (in c++) that may only be offered this semester.
 
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