Institute of Mathematics and Applications, Bhubaneswar

The Institute of Mathematics and Applications (IMA), located in Bhubaneswar, Odisha, in India, is an academic institution that was established by the government of Odisha in 1999. Its dual purposes are to conduct advanced research in pure and applied mathematics, and to provide postgraduate education leading to Masters and PhD degrees in mathematics, computation and computational finance. The institute also runs training programs in schools aimed at increasing mathematics awareness and leading to competitions such as the Mathematics Olympiads. It is affiliated to Utkal University which is one of the largest affiliating universities.

Institute of Mathematics and Applications
TypeResearch and Education Institute
Established1999; 21 years ago
AffiliationUtkal University
DirectorSri Laxmidhar Das ,Odisha Administrative Service (SAG)
Location
Bhubaneswar
,
Odisha
,
India
CampusUrban
23-acre (93,000 m2)
Websitewww.iomaorissa.ac.in
Bhubaneswar
Location of IMA

History

The Institute began functioning in 1999 inside a room of the Pathani Samanta Planetarium in Bhubaneswar. In July 2008, IMA acquired its own residential campus, built by Tata Steel in Bhubaneswar city, when it was established as a full-fledged, degree granting academic institution.[1]

Campus

The main Institute is a 7,000 square metres (75,000 sq ft) complex, which was designed by architect Karan Grover, with an investment of Rs. 140 million. The 23-acre (93,000 m2) campus also includes computer laboratories, classrooms, a library, as well as residential accommodations. A play ground and a volleyball court are also included.[1]

Activities

The current focus areas of research within the institute include wavelet analysis, stochastic processes, functional analysis, Algebraic Topology, Differential Geometry, Group Representations, operator theory, fuzzy logic, geometric application in physics, approximation theory, Lie Algebra, Astronomy, Thermodynamics and Statistical Physics, Quantum Mechanics and cyclone modelling, Machine Learning in Finance, Computational Finance.

The institute offers a B. Sc. Honors degree in Mathematics and Computation as well as M. Sc. degrees in Computational Finance and Data Science.. It currently admits 30 students each year based on a national entrance examination.[2]

It also provides training to school students for mathematical competitions.[3]

The institute professes to investigate the mathematical tradition of ancient India. It also provides awards to eminent mathematicians in the state of Odisha.

B.Sc. Honours in Mathematics and Computing

The Institute offers a Bachelor of Science (Honours) Degree in Mathematics and Computing. The course includes the study of pure mathematics as well as mathematical modeling and the use of abstract methods to solve concrete problems. Computer Science is major and compulsory for every student and it includes the study of Algorithms design, analysis, Cellular Automata and other branches in Theoretical Computer Science. Rigorous training and lot of exposure in pure mathematics is given to the students. In the final semester, each student must submit a dissertation.

M.A./M.Sc. in Computational Finance

Finance as a subject has emerged to be an extremely involved branch of knowledge with growing number of stock exchanges and investors in the field. Risk and return that constitute cardinal aspects of the subject, remain as a major concern for every investor, individual as well as institutional. Volumes of data encountered in the process make investment decisions difficult. In apparently erratic behaviors of the market, however the mathematicians try to capture patterns vis- a-vis predictability, which may help investors decide on their investment. Computational finance otherwise called financial engineering deals with portfolio selection, options and futures, asset pricing, managing derivative markets and hedging under uncertainty. The course imparts, besides, basic grounding on finance, expertise for modeling under uncertainty, a high level of computational skill geared towards finance, knowledge of financial accounting and regulations. The aim is to produce a competent financial engineer capable of analyzing existing financial products and suggest new innovative products for the financial market.

M.A./M.Sc. in Mathematics with Data Science

From 2018, the institute started a master's degree course in Data Science, one of the emerging fields of the current day. It is a programme of 2 years, after which the candidates are granted a M.Sc. degree from the Utkal University.

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See also

References
  1. Orissa Today (18 June 2009). "Odisha CM inaugurates new mathematics institute complex in Bhubaneswar".
  2. Higher Education in India (28 June 2009). "IMA entrance examination".
  3. Times of India (14 June 2009). "Making maths hot favourite". The Times Of India.

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