The role of universities in preparing graduates to use software in the financial services workplace

The role of universities in preparing students to use spreadsheet and other technical software in the financial services workplace has been investigated through surveys of university graduates, university academics, and employers. It is found that graduates are less skilled users of software than employers would like, due at least in part to a lack of structured formal training opportunities in the workplace, and a lack of targeted, coherent learning opportunities at university. The widespread and heavy use of software in the workplace means that there is significant potential for productivity gains if universities and employers address these issues.     

Academics’ perceptions of the use and relevance of software in quantitative and financial disciplines

Software may be used in university teaching both to enhance student learning of discipline-content knowledge and skills, and to equip students with capabilities that will be useful in their future careers. Although research has indicated that software may be used as an effective way of engaging students and enhancing learning in certain scenarios, relatively little is known about academic practices with regard to the use of software more generally or about the extent to which this software is subsequently used by graduates in the workplace. This article reports on the results of a survey of academics in quantitative and financial disciplines, which is part of a broader study also encompassing recent graduates and employers. Results indicate that a variety of software packages are in widespread use in university programmes in quantitative and financial disciplines. Most surveyed academics believe that the use of software enhances learning and enables students to solve otherwise intractable problems. A majority also rate spreadsheet skills in particular as very important for the employability of graduates. A better understanding of the use of software in university teaching points the way to how curricula can be revised to enhance learning and prepare graduates for professional work.     

Graduate attributes: teaching as learning

Recent graduates of degrees in the mathematical sciences were interviewed in depth about their work and the skills required to perform those tasks. One common undertaking could be described as teaching: demonstrating to colleagues, training their assistants or explaining mathematics to their managers. The paper describes how this understanding of teaching in the workplace can inform curriculum design at university level to better prepare graduates for work. Examples of assessment activities that lecturers can adapt for use in their classes in the mathematical sciences are presented.     

地方应用型本科院校数学与应用数学专业课程体系的改革与实践——以太原工业学院为例

以太原工业学院为例,分析了数学与应用数学专业培养应用型人才所面临的挑战.结合该校地方性和应用型的特点,基于岗位需求为导向,围绕"毕业生未来就业岗位—培养目标—能力与素质要求—课程设置"这条主线完成了金融数学和软件开发两个方向的课程设置,以此建立"模块化教学,分流培养"的培养体系,为应用型本科院校数学与应用数学专业课程体系设置提供参考.     

大学生就业扶持政策的有效性分析及改进:基于DEA方法的实证分析

鉴于数据包络分析(DEA)方法在评价多输入、多输出系统相对有效性方面所具有的优越性,基于DEA方法构建了C2R模型及相应投影分析模型和评价指标体系,对1999-2008年中国所实行的大学生就业扶持政策的有效性进行了评价分析,实证分析结果表明1999-2002年的大学生就业扶持政策在促进和解决大学生就业方面的效果显著,而2003年以后的大学生就业扶持政策在解决大学生就业问题上存在明显的效率损失,且政策效果逐年下降.为了提高大学生就业扶持政策的实施效果,就业扶持政策在未来的改进重点应着力从财政补贴、高等教育经费投入和贷款补助等政策内容入手,并提高政策的执行力度.     

Mathematics students’ next steps after graduation

This article is about what happens to newly minted mathematics graduates. It explores data from the first destination statistics from the perspective of mathematics lecturers and others involved in institutions that provide a higher education in mathematics. It also looks at reasons why this issue is important to those engaged in the higher education of mathematics undergraduates. A key finding is that the employment of mathematics graduates is concentrated in the sector of the economy that includes banking, property and financial services which makes the employment prospects for new graduates in mathematics vulnerable to recession in that sector.     

Supporting Statistics in the Workplace: Experiences with two Hospitals

This paper provides some rejections on the promotion of lifelong learning in statistics in the workplace. The initiative from which the rejections are drawn is a collaboration between a university and two public hospitals, of which one of the stated aims is to develop statistical skills among the hospitals' researchers. This is realized in the provision of 'biostatistical clinics' in which workplace teaching and learning of statistics takes place in one-on-one or small group situations. The central issue that is identified is the need to accommodate diversity: in backgrounds, motivations and learning needs of workplace learners (in this case medical researchers), in the workplace environments themselves and in the projects encountered. Operational issues for the statistician in providing such training are addressed. These considerations may reject the experiences of the wider community of statisticians involved in service provision within a larger organization.     

Assessing the impact of derived behavior information on customer attrition in the financial service industry

The value of the customer has been widely recognized in terms of financial planning and efficient resource allocation including the financial service industry. Previous studies have shown that directly observable information can be used in order to make reasonable predictions of customer attrition probabilities. However, these studies do not take full account of customer behavior information. In this paper, we demonstrate that efficient use of information can add value to financial services industry and improve the prediction of customer attrition. To achieve this, we apply an orthogonal polynomial approximation analysis to derive unobservable information, which is then used as explanatory variables in a probit–hazard rate model. Our results show that derived information can help our understanding of customer attrition behavior and give better predictions. We conclude that both researchers and the financial service industry should gather and use derived financial information in addition to directly observable information.     

THE INSURANCE VALUE OF BIODIVERSITY IN THE PROVISION OF ECOSYSTEM SERVICES

ABSTRACT. Biodiversity provides insurance against the uncertain provision of ecosystem services which are being used by risk‐averse economic agents. I present a conceptual ecological‐economic model that combines (i) current results from ecology about the relationships between biodiversity, ecosystem functioning, and the provision of ecosystem services with (ii) economic methods to study decision‐making under uncertainty. In this framework I (1) determine the insurance value of biodiversity, (2) study the optimal allocation of funds in the trade‐off between investing into biodiversity protection and the purchase of financial insurance, and (3) analyze the effect of different institutional regimes in the market for financial insurance on biodiversity protection. I conclude that biodiversity acts as a form of natural insurance for risk‐averse ecosystem managers against the over‐ or under‐provision with ecosystem services. Therefore, biodiversity has an insurance value, which is a value component in addition to the usual value arguments, such as direct or indirect use or non‐use values. In this respect, biodiversity and financial insurance are substitutes. Hence, the availability, and exact institutional design, of financial insurance influence the level of biodiversity protection.     

基于灰色系统理论的平行数据模型及其在人才供求中的应用

以某普通高等学校毕业生和就业学生为分析对象.以灰色系统理论为基础,通过DGM(1,1)模型获取了2006—2007年该高校毕业人数和就业人数的预测值.并结合2001年到2005年统计数据,利用平行数据模型建立起了普通高等学校毕业人数与就业人数之间的关系模型,揭示了高校人才供求间的结构关系和政策影响力度.最后提出了几点相关建议.     

Examining the feasibility of using a modelling tool to assess resilience across a health-care system and assist with decisions concerning service reconfiguration

Changes in medical practice, demographic shifts and financial pressures are all examples of factors that may contribute to demand for periodic changes in the configuration of health services. When reconfiguring a service, health planners often take into account projected demand for services, patient access criteria and budgetary constraints (among other things), but typically give little consideration regarding its resilience to deliver services during and after external disruptions to its capability to deliver. In this paper we discuss a study conducted in response to a direct request from the National Health Service (NHS) Resilience Project within the Department of Health to explore the feasibility of assessing resilience across local services within the NHS and developing a computer software tool to assess resilience of different service reconfigurations. We give an account of the modelling process used, including the analytical framework we developed using both optimisation and heuristic methods, and an illustrative example of usage of a prototype software tool. We also highlight the key lessons that emerged during this project, which may be helpful to OR analysts working on similar projects regarding resilience in the public sector.     

The price of quality claims

Quality claims and quality in fact of financial and industrial products as well as financial and business services are essential to entice and attract customers. For these reasons, firms are often tempted to assert claims that might or might not be met. These claims have risks which cannot always be prevented when interpreted as a ‘sure thing’ while in fact, quality performance is probabilistic. This paper considers a financial (utility based) approach to pricing a quality claim. To do so, we assume that ex‐ante, a true quality performance is defined by a density function while claims are advertised—setting expectations for a quality performance. On the basis of these assumptions we determine the price associated with such claims. Copyright © 2010 John Wiley & Sons, Ltd.     

基于多元分析的股票评价方法

对上市公司钢铁板块2004年财务报表中的八个主要指标应用多元分析法进行了总体评价,得出上市公司的业绩主要受三个具有一定含义的因子的影响,并对上市公司各因子的得分情况及综合得分情况给出了相应分析.     

Mathematics teacher training at the State Technical University in Chile

During the fifties and sixties in Chile many mathematics graduates of Pedagogical Institutes became university instructors rather than high school teachers as intended. In the late sixties Masters level programmes began giving more advanced training for university mathematics instructors. A ‘modern’ mathematics curriculum including computer science was introduced in the high schools. The first significant attempt to adapt the training of Chilean high school mathematics teachers to the new academic and social realities was begun in 1976 at the State Technical University with the cooperation of Teachers College, Columbia University, and the support of the Organization of American States.

The four‐year programme leads to Licenciatura (Bachelors) in Mathematics and Computer Education. All courses are taught by faculty members of the Department of Mathematics and Computer Science. The three basic areas of instruction are mathematics, computer science, and mathematics education. Funds provided by the O.A.S. have helped to make possible the development of curricular materials in Spanish, and the acquisition of computing and video tape equipment.     

模糊层次分析法在矩阵论教材评价方面的应用

基础学科的教材直接影响学生的基本功,尤其是几乎每个学科都会涉及的数学类教材,如矩阵论.矩阵论是研究生的基础课程,在对学生以后的学术道路有举足轻重的作用.所以选择一本合适的教材,对学生和教师来说都有不小的帮助.然而,对教材的评价而言,不能单单从一个方面入手,因此将模糊综合分析法与层次分析法结合,在矩阵论教材的评价方面建立评价体系,为高校选择合适的教材提供依据.     

农民工的中等职业教育、在职培训与工资——基于校正多元样本选择偏差的分析

将雇主提供一年期及以上合同的工作作为稳定就业,将农民工的就业状态分为稳定就业、非稳定就业、未就业三种,在校正多元样本选择偏差的基础上估计了农民工稳定就业的工资方程和非稳定就业的工资方程,重点分析了中等职业教育和在职培训对农民工工资的影响.结果表明,中等职业教育对农民工获得稳定就业具有显著的正向影响,中等职业教育和在职培训对农民工稳定就业和非稳定就业的工资均具有正向影响,但对稳定就业工资的影响要显著大于对非稳定就业工资的影响.因此,政府应当继续加大农村地区职业教育的投入,同时鼓励用工企业对农民工开展与工作技能相关的在职培训,从而使农民工获得更为稳定的就业和更高的工资水平,顺利实现市民身份的转换.     

以《常微分方程》课程为例浅谈教学也是一种学术

为社会发展培养高素质的人才是高校教师的主要职责,这需要学校、乃至教师在教学理念、教学手段和教学形式、培养模式和教学研究等方面进行全方位思考,还应加强教学学术发展的制度保障,促进教学与科研的协调发展．本文以常微分方程课程为例,阐明教学与科研一样也是学术这一观点。     

Incest in Academe: The Case for Selective Inbreeding

Abstract

Charles Eliot observed that it seemed “natural, but not wise” for a university to hire its own graduates. Can today's institutions afford to turn away their own graduates? Is there a place for selective inbreeding within the university system?     

The student experience of mathematical proof at university level

While proofs are central to university level mathematics courses, research indicates that some students may complete their degrees with an incomplete picture of what constitutes a proof and how proofs are developed. The paper sets out to review what is known of the student experience of mathematical proof at university level. In particular, some evidence is presented of the conceptions of mathematical proof that recent mathematics graduates bring to their postgraduate course to teach high school mathematics. Such evidence suggests that while the least well-qualified graduates may have the poorest grasp of mathematical proof, the most highly qualified may not necessarily have the richest form of subject matter knowledge needed for the most effective teaching. Some indication of the likely causes of this incomplete student perspective on proof are presented.     

Evaluating the financial performance of bank branches

We evaluate the financial performance of most of the branch offices of a large European savings bank for a recent accounting period. We employ a complementary pair of nonparametric techniques to evaluate their financial performance, in terms of their ability to conserve on the expenses they incur in building their customer bases and providing customer services. We find variation in the ability of branch offices to perform this task, and agreement on the identity of the laggard branches. We then employ parametric techniques to determine that the list of indicators on which their financial performance is evaluated can be reduced without statistically significant loss of information to bank management. Both findings suggest ways in which the bank can increase the profitability of its branch network. A previous version of this paper was presented at CORE, Université Catholique de Louvain, Louvain-la-Neuve, Belgium, where we received many helpful comments from the audience. We are grateful to three referees for their helpful comments as well.