The Department of Mathematics and Data Science, functioning under JAIN (Deemed-to-be University) - School of Sciences, in association with Mathematical Sciences Institute Belagavi, organized a one-day national level workshop titled, Random Walks and Financial Analytics on March 25, 2022. The workshop took place in hybrid mode, and around 150 participants attended it online while 64 students became a part of the event offline.
The resource persons for the workshop included Dr. T.Venkatesh, Director - Mathematical Sciences Institute Belagavi, Dr.Yogeshwaran D, Associate Professor - Indian Statistical Institute Bangalore, Dr.Anindya Goswami, Associate Professor - IISER Pune, and Professor J.V. Ramana Raju, Department of Mathematics - Jain (Deemed-to-be University).
The workshop, a joint effort of both JAIN (Deemed-to-be University) and Mathematical Sciences Institute, commenced with the keynote address of T. Venkatesh. The one-day proceedings involved lectures on the basic probability themes emerging from the random walk model, related generalizations, and some modeling procedures used by the financial analytics industry. Dr. Yogeshwaran Dhandapani spoke about a 17th century problem posed by P. Fermat on the probabilistic modeling of a casino. Professor T.Venkatesh shed light on the overall importance of mathematical finance. Professor Anindya Goswami spoke on the Black-Scholes-Merton model for derivatives pricing and on the CIR (Cox-Ingersoll - Ross) model. He also showed very basic simulations of the Brownian motion and the corresponding GBM process. Professor Ramana Raju J.V made an exposition of the probability models related to risk management analytics through concepts like Markowitz portfolio analysis, bond immunization, and other hedging tools.
Professor Thirukumaran of Data Science Department proposed the vote of thanks and marked the conclusion of the workshop.
