Academic journal article Studies in Sociology of Science

How to Build Practice Teaching System of Financial Mathematics in Local Universities

Academic journal article Studies in Sociology of Science

How to Build Practice Teaching System of Financial Mathematics in Local Universities

Article excerpt

Along with our country economic system from planned economy to market economy transition, the securities industry and the rapid development of the insurance industry, financial industry gradually with international practice and participation in international competition. Especially China entered into WTO, the financial industry is facing new opportunities and challenges, financial risk has become a huge problem we are faced with, for a variety of innovative financial instruments to the increasingly urgent demand. Financial market order can not rely on administrative and judicial means to maintain, it needs high technology and science of finance support. The traditional financial talent has become increasingly unsuited to the development of society, the intuitive experience to manage such a huge and rapidly changing financial market, large computer and the application of financial engineering is rapidly becoming the mainstream of contemporary risk management. Financial mathematics and quantitative finance science in financial market is developing and has enormous potential in China has broad prospects for development. Financial engineering in China's economic reform and system transformation, there are unlimited, can seemingly harmful market volatility into market regulation of autonomic mechanism, thereby reducing the social risks and government burden, its application is also very broad prospects.

Financial mathematics aims at cultivating talents, who have a more solid foundation of mathematics and financial theory, strictly coursing in mathematical finance thinking and scientific experiments especially training in mathematical modeling and computer applications; those talents can also make higher-level econometric analysis of actual data in the economic field, they be able to take the job of statistical calculations, predictive analysis, project development, actual operation and management in bank, securities, insurance, fund companies and other economic sectors; the major also provides advanced applied talents in technical analysis consulting for financial sectors. In order to achieve this goal, it is necessary to improve the practical teaching system of financial mathematics; Moreover we should cultivate qualified practical theory and actual ability of high-quality talents, At the sometime we should try to make the process between learning and using run smoothly so that graduates attend in work faster and better.

THE NECESSITY TO ESTABLISH A SOUND PRACTICAL TEACHING SYSTEM

1. Comply with the State's Development Strategy in Mathematics Majors and Implement the Objectives of the Applied Talents

National program for medium to long-term education reform and development (2010-2020) says universities should put improving the quality as the centre mission for the university development. They should also innovative training model, improve the teaching and education management system, the quality of personnel training, enhance the level of scientific research and the ability of social services. The research reports of mathematics class major development strategy which was released by Higher Education Department and also pointed out that quite a number of mathematics graduates may turn to cross-disciplinary or other research areas. The core or critical of these research areas may be mathematics, therefore, those having a strong mathematical foundation will play key role in their research areas. In addition to financial mathematics, economic mathematics, actuarial insurance and other interdisciplinary subjects, newly emerging cross disciplines such as financial engineering also need a number of mathematics class talents. The quality of student cultivating affects their employment directly, so the implementation of practical teaching on the direction of financial mathematics can help students master and apply mathematics better, what's more, it is good for talents to adapt to the needs of the community quickly. …

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