Concentrations
Applied Statistics Concentration
Sponsored by the Mathematics and Science Division
Faculty Contact: Elaine Allen
Applied statistics involves identifying a problem, determining an appropriate statistical technique for its solution, collecting and editing data, processing the data with technology, analyzing the results, and communicating these results effectively. This liberal arts and management interdisciplinary concentration will provide an opportunity for students who wish to expand upon the statistical methods that they learned in QTM1310 and QTM2420. By applying these methods to numerous real-world problems, students will be able to improve their decision-making skills when dealing with uncertainty.
Required Courses:
QTM3610 - Applied Multivariate Statistics (4 credits)
QTM3612 - Applied Data Mining (4 credits)
Choose 1 course from the following:
QTM3671 - Business Forecasting (4 credits)
QTM3673 - Financial Modeling (4 credits)
Choose 1 course from the following:
ECN3620 - Econometrics (4 credits)
MKT3510 - Marketing Research (4 credits)
If approved by the division chairperson, one of these courses could be replaced by a QTM selected topics or independent study course.
Courses suggested but not required:
QTM3620 - Operations Research (4 credits)
This course provides exposure to applied problems in a constrained environment and focuses on optimization as a tool.
MIS2630 - Problem Solving and Software Design (4 credits)
This course teaches students the fundamentals of algorithmic thinking and structured problem solving.
MIS3520 - Data Base Management (4 credits)
This course provides expertise in managing large data bases.
Computational Finance Concentration
Sponsored by the Finance and Mathematics and Science Divisions
Faculty Contact: Dessislava Pachamanova
The goal of this concentration is to combine financial theory with solid understanding of quantitative tools that allow students to model and analyze the complexity of financial decisions under uncertainty. The advanced courses in the Finance Division are designed to provide students with an in-depth knowledge of financial markets and instruments, while the advanced courses in the Mathematics and Sciences Division emphasize mathematical derivations, rigorous analytical thinking, and the use of statistical, simulation, and optimization software tools.
Required Courses:
QTM 3673 Financial Modeling
Courses from which Students Must Choose a Minimum Distribution:
Choose 2:
FIN 4510 - Corporate Financial Modeling
FIN 4560 - Options and Futures
FIN 4530 - Investments
FIN 3520 - Security Valuation
Choose 1:
QTM 3610 - Applied Multivariate Statistics
QTM 2600 - Dynamical Systems & Chaos Theory
QTM 3671 - Business Forecasting
With the substitution for one of the courses with a selected topics or independent study course if approved by both division chair people.
Courses suggested but not required:
QTM 3612 - Applied Data Mining
This course teaches students to extract targeted data from large databases and identify meaningful patterns and implications related to the data.
ECN3620 - Econometrics
This course discusses mathematics and statistics as a fundamental tool in economic modeling.
Quantitative Analysis Concentration
Sponsored by: Mathematics and Science Division
Faculty Contact: Steven Eriksen
Students with strong quantitative backgrounds have positioned themselves at the top of the job-seeking pool. The Quantitative Methods concentration provides tools and techniques that are widely applied in a variety of fields in business such as corporate management, investment banking, consulting, information technology, finance, economics and marketing. This concentration focuses on applied problem-solving methodologies where quantitative models are built and used to facilitate the decision-making process. In addition, the courses in this concentration are designed to offer a fine balance between depth and breadth, relevance and rigor, critical and analytical thinking.
Required Course:
QTM 3620 – Operations Research
Choose two of the following:
QTM 2600 – Dynamical Systems and Chaos Theory
QTM 2601 – Applications of Discrete Mathematics
QTM 2670 – Cryptology
Choose one of the following:
QTM 3610 – Applied Multivariate Statistics
QTM 3671 – Business Forecasting
QTM 3673 – Financial Modeling
With the substitution of one of these courses with a QTM selected topics or independent study course if approved by the division chairperson.
Courses suggested but not required:
QTM3612 – Applied Data Mining
This course teaches students to extract targeted data from large data bases and identify meaningful patterns in the data.
ECN 3620 – Econometrics
This course emphasizes the importance of mathematics and statistics in economics.
MKT 3510 – Marketing Research
This course emphasizes the importance of mathematics and statistics in marketing analysis.
MIS 2630 – Problem Solving
This course teaches students the fundamentals of algorithmic thinking and structured problem solving.
Science and Society Concentration
Sponsored by: Math and Science Division
Faculty Contact: Shari Laprise
The goal of this concentration is to combine the study of science courses that have societal impact with courses in societal disciplines that have strong implicit scientific connections. The advanced science courses are meant to provide students with depth in specific scientific areas, while the courses that are not specifically devoted to scientific topics have been chosen to provide a societal perspective that includes overlap with science.
Required Courses:
Courses from which Students Must Choose a Minimum Distribution (four courses are required, of which at least two must come from the science courses, at least one from outside science, and the fourth from either of the two listings):
Choose at least 2 of these science courses:
SCN 3610 - Meteorology
SCN 3620 - Natural Disasters
SCN 3672 - Ecology of Animal Behavior
SCN 3673 - Ethical Issues in Research and Technology
SCN 3690 - Crime Science
SCN 3691 - Space Satellite Technology: From Sputnik to Space
SCN 3692 - Diet and Disease - Til Health do us Part
SCN 2601 - Technology in America’s Future
Choose at least 1 of these non-science courses:
ECN 3635 - Technological Entrepreneurship and the Market Economy
PHL 3609 - Nature, Technology and Values
LAW 3601 - Public International Law
ENT 3575 - Social Enterprise Management
AMS 3672 - Working in America: Labor in the 20th Century
BIC 3690 - The Bicycle: Vehicle for Societal Change
AHS 1110 - (Olin) History of Technology: Politics, Environment, and Culture
AHS 1130 - (Olin) The Stuff of History
HIS 3604 - Sexuality and Power in Modern Society
Courses suggested but not required:
SCN 2410 - Environmental Technology (intermediate course devoted to environmental technologies)
SCN 2420 - Biotechnology (intermediate course devoted to biotechnologies)
SCN 2430 - Electronic Technology (intermediate course devoted to electronic and computer technologies)
ECN 3631 - Scams and Frauds
PHL 3603 - Modern Philosophy (an excellent introduction to the foundations of scientific ethics)
ANT 3671 - Material Culture (lots of references to science and technology development)
ANT 3673 - Anthropology of Food (technology of agriculture)
MIS 3690 - Web Technologies (applications of electronic science to computer systems)
MIS 3693 - Building Internet Applications for Mobile Devices (applications of electronic science to computer systems)
MIS 3695 - Advanced Web Technologies (technological applications of electronic science to computer systems)
HSS 2407 - Physical Anthropology (intermediate course that includes the impact of science)
HSS 2422 - Research Methods (intermediate course that utilizes the scientific method)
For More information on Mathematics and Science Concentrations, please follow the links below to Academic Services:
Electives
QTM2600 – Dynamical Systems and Chaos Theory (Fall ‘06)
Prerequisites: QTM1300 or QTM1301; or permission of
instructor.
QTM2601 – Applications of Discrete Mathematics (Fall ‘06)
Prerequisites: QTM1300 or QTM1301; or permission of instructor.
QTM3610 – Applied Multivariate Statistics (Spring ‘06)
Prerequisites: QTM2420; or permission of instructor.
QTM3612 – Applied Data Mining (Fall ‘05)
Prerequisite: QTM 2420; or permission of instructor.
QTM3620 – Operations Research (Spring ‘06)
Prerequisites: QTM2420; or permission of instructor.
QTM3671 – Forecasting Methods and Applications (Fall ‘06)
Prerequisites: QTM2420; or permission of instructor.
QTM3673 – Financial Modeling with Simulation and Optimization (Fall ‘05)
Prerequisites: QTM2420; or permission of instructor.
QTM3674 – Cryptology (Fall ‘05/Spring ‘06)
Prerequisites: QTM1300 or QTM1301; or permission of instructor.
Why take these courses?
· They will enrich your resume; employers love job candidates with quantitative skills.
· They are FUN!
· They count towards the 20 required Liberal Arts Advanced credits.
· They might be closely related with your career plans and your areas of interest.
Course Descriptions
QTM2600 – Dynamical Systems and Chaos Theory
This course introduces dynamical systems, that is, it investigates how quantities (such as the size of a population, the supply and demand for a certain product, the amount of money in an account, and the amount of a certain drug in the bloodstream) change over time, by analyzing a mathematical relationship between the “present” and the “near future” to make predictions about the “distant future.” You will use the mathematical models developed to study problems in finance, cost accounting, economics, population fluctuations, arms race, gambling, fractals, and chaos theory among others. In developing these models we introduce the foundations of Linear Algebra and Markov chains.
QTM2601 – Applications of Discrete Mathematics
Discrete mathematics is used whenever objects are counted, when relationships between finite sets are studied, and when processes involving a finite number of steps are analyzed. The kind of problems solved include: How many ways are there to choose a valid password on a computer system? What is the shortest path between two cities using a transportation system? How can a circuit be designed that adds two integers? How can you send secret messages? You will learn the discrete structures and techniques (found in mathematical logic, combinatorics, graph theory, Boolean algebra and cryptology) needed to understand and solve these problems. You will develop mathematical maturity and problem solving skills by studying models in such diverse areas as computer science, data networking, business, engineering, chemistry and biology.
QTM3610 – Applied Multivariate Statistics
This course extends the modeling tools presented in prior statistics courses and focuses on the application and validation of models developed using real data in the context of finance, economics, and marketing research. Examples of applications include modeling the impact of advertising on sales, admission yields for business schools, patterns of voting behavior and bias, and seasonality of economic indicators. This course focuses on implementing data analysis techniques (such as multiple-sample comparisons, non-parametric tests, advanced multiple regression concepts, smoothing methods, and advanced forecasting methods using a statistical software package and interpreting the results in a decision-making environment. Emphasis is placed on understanding the limitations of modeling approaches, as well as the diversity of potential applications in business.
QTM3612 – Applied Data Mining
This course will examine the methods and challenges faced in extracting meaningful information from marketing, financial and especially e-commerce data. You will accomplish this by learning new techniques for data gathering and data analysis as well as in discussions with companies currently trying to turn the information in their databases into increased business opportunities. The course will use a variety of new methodologies for finding patterns in large datasets as well as creating databases from internet and legacy information. Guest speakers from biotech, financial and marketing companies will participate in the class. We will discuss both the methodologies and software they are using as well as the ethical issues they face in using this data.
QTM3620 – Operations Research
The focus of this course is based upon the development, solution, analysis, and implementation of optimization models and their applications within business, government, education, and sports. The topical emphasis is primarily upon mathematical programming, optimization of flows across networks, and the interrelationships between these two classes of methodologies. The learning process is oriented toward problem solving. There typically is a problem statement leading into each topic followed by the construction of a mathematical model, solution of the model, and the resulting analysis. Many of these illustrative examples are supplemented with the discussion of a journal article relating how a larger-than-classroom scaled model has been successfully implemented in practice.
QTM3671 – Forecasting Methods and Applications
The course will introduce time series models and discuss advanced forecasting methods in the context of real financial data and decision-making situations. The objectives of the course are to provide experience in using time series data (e.g., sales, profits, stock prices, economic indicators, industry sector indicators) to explain the impact of various internal and external factors and predict future trends; to provide a framework for comparing alternative forecasting models for validity, accuracy, and feasibility; to enhance an appreciation for the limitations of forecasting models; to provide exposure and experience in using statistical software to develop forecasting models; and to develop skills at communicating statistical results, and inferences effectively in a managerial context. Teamwork and professional presentation of analysis and recommendations will be required during this course.
QTM3673–Financial Modeling with Simulation and Optimization
This course is an introduction to quantitative techniques that enable marketing, finance and management professionals to make optimal decisions under uncertainty. While theoretical background for these techniques is provided, the focus is on their application and on the use of software such as Excel, Solver, and @RISK and Evolver, which is widely leveraged in industry. Topics include simulation of important probability distributions, bootstrapping, curve fitting, linear and nonlinear optimization, and genetic algorithms. Lectures draw on examples such as forecasting demand and sales; asset allocation and risk management; index tracking; scenario approaches to project and portfolio management; hedging and arbitrage; option pricing; optimal product bundling; queuing.
QTM3674 – Cryptology
This course introduces students to elementary yet challenging mathematics from several different branches of the subject including number theory, abstract algebra, matrix algebra, probability and statistics, all of which play a role in enciphering and deciphering secured messages. Topics covered will include a short history of Cryptology, the One Time Pad, the Vigenere Cipher, Modern Symmetric Ciphers, Block Ciphers, Complexity and Public Key Ciphers. As the internet becomes the primary channel for personal and commercial intercourse, it is of paramount importance that information and transactions are protected and secure. You will examine and evaluate various schemes for securing information and exchanges, and simultaneously study contemporary techniques for breaking security ciphers.
