The Centre for Quantitative Economics and Data Science was established in the year 2021 with the aim to provide fundamental knowledge and problem-solving skills in the area of Quantitative Economics and Data Sciences. This will help in disseminating the acquired knowledge towards improving analytical skills, research and practical application.
The Centre is recognized at par with existing leading Centers in terms of available computational facilities and academic & research infrastructure. The Centre remains committed to its two-fold mission.
To become a globally recognized centre of excellence in teaching and research by producing academicians, professionals, and innovators to create a better world where a profound understanding of the field of Quantitative Economics and Data Sciences drives positive change in business and society.
• To set-up a world-class Quantitative Economics and Data Science centre by producing original & robust research insights, delivering high-quality & evidence-based education and engaging with people & organisations worldwide, across the private & public sectors, who are motivated to transform the world by tackling real world challenges.
• To intellectually transform students for productive and stimulating careers by providing them a strong grasp of fundamentals through a diverse living environment, exposure to new ideas and interaction with people who come from different walks of life and have evolving identities.
Program Educational Objectives (PEOs)
PEO1. To provide a well-founded educational base as well as well-resourced learning environment in Quantitative Economics and Data Sciences for formulating and analysing real-world problems with a sustainable approach.
PEO2. To enable students to take up the fundamental and genuine challenges of Data in the current era for better analytical approaches to assimilating data, and demonstrative applications in various fields such as economics, mathematics, statistics, finance, and others, from the convergence of third paradigm technologies point of view.
PEO3. To train the students in analytical decision making and strategic policy formulation for organizations in domains like Banking, Finance, Energy, Technology, Environment, Healthcare etc.
PEO4. To equip the students with the tools of analytical and computational skills in Quantitative Economics and Data Sciences.
PEO5. To develop a deep understanding of the theory and practice for building a strong academic-industrial relationship, with a focus on collaboration projects, including research-data partnerships.
PEO6. To nurture and nourish strong communication and interpersonal skills for working in a team as well as upholding ethical standards.
Programme Outcomes (POs)
A graduate of this program is expected to gain:
1. Knowledge: attainment of in-depth understanding of basic principles and concepts of Economic theories and Data Sciences to facilitate their applications in fields related to economics, mathematics, statistics, finance, and others.
2. Problem Analysis: be capable of searching for new research questions, analysing data, apply latest methodologies, and develop insights using the results obtained to solve real-life problems.
3. Design/Development of Solution: be able to ask difficult questions, explore unfamiliar terrain, and indulge in the passion for discovery to arrive at innovative solutions, while keeping in mind public health and safety, and the cultural, societal, and environmental considerations.
4. Conduct Investigations of Complex Problems: ability to actively engage with accepted thinking and constantly questioning the relevance, impact, and potential of different positions.
5. Modern Tool Usage: Able to think critically and strategically to apply innovations in data analytics by incorporating visual analytics, predictive models, as well as recent advances in computational and machine learning tools.
6. The Professional and Society: ability to understand the socio-economic dynamics of societies to shape critical academic achievement; collective obligation; critical consciousness.
7. Environment and Sustainability: understand the scientific and economic dimensions of environmental issues and apply the practical tools of analysis and quantitative methods for a sustainable future.
8. Ethics: develop an understanding of how psychological, organizational, and cultural forces influence ethical behaviour and explore ways to nurture the ethical behaviours.
9. Individual and Team Player: demonstrate the ability to work together with others in a group while taking accountability as an individual, a member or a leader of a team in a multi-disciplinary setting.
10. Communication skills: ability to express his/her ideas and findings in the right way for the right audience as thorough professionals.
11. Project Management and Finance: demonstrate active decision-making skills to manage projects that involve economic, legal, and ethical responsibilities to multiple parties.
12. Lifelong Learning: Engage in mastering new skills and knowledge for keeping pace in a world where automation technologies are reshaping roles and institutions.
Dr. Kunal Mukhopadhyay
Professor & Head
Center for Quantitative Economics and Data Science
Birla Institute of Technology