IDDD: Quantitative Finance

Created by Aravind S, Modified on Tue, 19 Dec 2023 at 10:59 PM by Aravind S

What is the IDDD Quantitative Finance program offered at IIT Madras?

Quantitative finance is a field that combines mathematical modeling, statistical analysis, and computational techniques to understand and manage financial risks. It involves applying quantitative methods to financial markets, instruments, and investment strategies.

The Interdisciplinary Dual Degree in Quantitative Finance offered by the Department of Management Studies at IIT Madras enables students to adapt to new developments in finance. Through theoretical and applied concepts in quantitative finance, financial engineering, and risk management, the program bridges the gap between the application of modern process technologies and state-of-the-art finance. It prepares students for careers involving the design and management of novel financial instruments for the evaluation of risks and gains.

Who is eligible to apply?

 Open to all students of all branches of IITM with a minimum CGPA of 8.0 at the end of 5th semester. Selection will be strictly based on CGPA till the 5th semester.

Curriculum and Courses

The curriculum is designed to familiarize students with the fundamentals of Quantitative finance. From learning the fundamentals of Finance to acquiring Analytical skills with the help of tools and techniques, the courses provide a comprehensive approach and make students ready before they jump into the Finance world.

Some of the courses offered in this program are:

  • Corporate Finance
  • Stochastic Calculus for Finance
  • Financial Derivatives and Markets
  • Introduction to Machine Learning

A total of 160 credits have to be completed, with core courses taking p 60 credits and the projects taking up 70 credits. The remaining 30 credits can be used by the students to take electives from the list offered.

What are the job and future prospects?

The IDDD in quantitative finance opens up a wide range of lucrative prospects:

  • Quantitative Analyst: Quantitative finance opens up opportunities to work as a quantitative analyst. These professionals develop mathematical models and statistical tools to analyze financial markets, assess risks, and optimize investment strategies. Quantitative analysts are in high demand in investment banks, hedge funds, asset management firms, and other financial institutions.

  • Risk Manager: Risk managers are responsible for identifying, measuring, and managing financial risks within an organization. They utilize quantitative models and statistical techniques to assess market, credit, liquidity, and operational risks. Risk managers can work in various financial institutions, including banks, insurance companies, and consulting firms.

  • Financial Engineer: Financial engineers design and develop innovative financial products, derivative instruments, and structured solutions. Financial engineers often work in collaboration with traders, investment bankers, and quantitative analysts to design and implement financial strategies. They work at investment banks, trading firms, and financial technology companies.

To get more information on the program, visit here

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