‘This New Specialisation Will Be a Real Challenge for the Most Ambitious and Motivated Students’
The HSE University and Kyung Hee University Double Degree Programme in Economics and Politics in Asia is launching a new specialisation in ‘Quantitative Economics and Finance in Asia.’ Students will gain fundamental knowledge regarding the mechanisms, driving forces, and features of economic and financial processes in Asia through the prism of quantitative analysis methods. Ivan Deseatnicov, Supervisor of the new specialisation, Associate Professor at HSE Faculty of World Economy and International Affairs, speaks about the features of the new track.
The HSE University and Kyung Hee University Double Degree Programme in Economics and Politics in Asia is a practice-oriented, English-language double-degree bachelor’s programme based at leading universities in Russia and Asia. After admission, students are enrolled at two universities simultaneously: the first, second, and fourth years of the programme take place in Moscow, while the third year takes place at Kyung Hee University (Seoul) and other leading Asian universities.
Graduates of the programme will be awarded a Bachelor’s degree in International Studies/Public Policy and Social Sciences from HSE University, a Bachelor’s degree in International Studies (Chinese/Korean/Japanese/Southeast Asian Studies) from Kyung Hee University, and an additional diploma in either International Business or International Relations. This will allow graduates to enrol in master's degree programmes and build careers related to Asia across a wide range of specialisations.
— How did you come up with the idea of launching a new specialisation?
— In today's world, with Asia becoming an increasingly influential player in the global economic arena, we realized the need to offer our students a specialisation that will allow them to immerse in the peculiarities of quantitative economics and finance of the region. Our Double Degree Programme in Economics and Politics in Asia already provides solid knowledge basis through disciplines such as Introduction to Economics and Mathematics for Economics and Business. However, many ambitious students expressed a desire to study economics in depth. Moreover, our graduates have repeatedly noted that they would like to focus more time on economic aspects during their studies.
Taking into account this student request and keeping up with trends in the Asian region, we decided to launch a new specialisation— ‘Quantitative Economics and Finance in Asia.’ The track will allow students to gain fundamental knowledge regarding the mechanisms, driving forces, and features of economic and financial processes in Asia through the prism of quantitative analysis methods.
The specialisation will provide students with the opportunity to deepen their expertise and prepare for a career in banking, financial analysis, economic modelling, and many other promising areas.
— Will any student be able to study in this specialisation or will there be a selection process?
— This new specialisation has aroused great interest among our students. Due to high demand and our commitment to providing high-quality training, we decided to organise a selection process.
At the first stage, teachers will analyse students' academic performance in the disciplines ‘Introduction to Economics’ and ‘Mathematics for Economics and Business.’ The most talented and motivated students will be invited to apply for the specialisation. They will need to submit a motivation letter in which they describe their interests and ambitions in the field of quantitative economics and finance in Asia.
Following the results of application process, we’ll conduct an initial selection of candidates. However, this is only the first step towards specialisation. Further selection will take place during the in-depth study of mathematics, statistics, and programming, ie disciplines required for quantitative analysis.
Only the students who demonstrate outstanding success and diligence in these subjects will be able to apply for the specialisation ‘Quantitative Economics and Finance in Asia.’ This multi-stage selection will allow us to determine the most talented and hardworking students, ensuring a high level of training for graduates on this track.
The new specialisation will not just be supplemental to the main programme, but a real challenge for the most ambitious and motivated students who are eager to become experts in one of the most dynamic areas of modern economics.
— What subjects will be additionally studied by students of this specialisation?
— The specialisation ‘Quantitative Economics and Finance in Asia’ involves in-depth study of the disciplines that will form a solid basis for analysing economic and financial processes using modern quantitative methods. During their first year, in the first semester, as part of the programme ‘Economics and Politics in Asia,’ all students must take the fundamental course ‘Mathematics for Economics and Business.’
Those who qualify for the specialisation, will continue studying this course in the second semester. This will allow them to significantly expand their knowledge of mathematical techniques and tools used in economic analysis
The selected students will then immerse in an in-depth study of statistics and programming in a specially formed group. These disciplines will be a powerful tool for working with big data and building economic models.
The specialisation includes the course ‘Quantitative Economics and Finance in Asia,’ which I will be teaching in the second semester of the second year. During this course, we will explore advanced data processing and analysis methods used in economics and finance, with a focus on their practical application in studying economic processes in dynamically developing countries of the Asian region.
The specialisation combines fundamental knowledge of mathematics, statistics, programming, and quantitative methods of data analysis, allowing the graduates to become in-demand specialists capable of solving the most complex problems in the field of economics and finance in Asia using modern analytical tools.
— What basic knowledge is required to successfully master the subjects within the specialisation?
— Firstly, good mathematical skills and analytical thinking are required to work with abstract concepts and solve complex problems. Secondly, students should be interested in economy and determined to understand its internal mechanisms.
However, motivation and genuine interest in the studied disciplines—mathematical models, statistical methods, programming, and economic processes in Asia—are key factors. Only dedication and diligent work will allow students to fully master the intricacies of quantitative economics and finance. Students with necessary basic knowledge and motivation will be able to maximize their potential in this specialisation.
— What basic skills and knowledge will students acquire during their studies?
— The specialisation will provide students with a wide range of skills and knowledge that will make them in-demand specialists in the labour market. First of all, they will receive fundamental knowledge in mathematics, economics, statistics, and programming. These disciplines form a solid theoretical basis for further analysis of complex economic processes.
The ability to work with quantitative models and big data is a key skill. Students will master constructing and interpreting mathematical models that can describe economic phenomena. They will also learn how to apply advanced statistical methods and software algorithms to collect, process, and analyse economic information.
The acquired knowledge will help students to better understand the functioning mechanisms of economic systems and financial markets. They will be able to conduct comprehensive quantitative analysis to solve various economic problems.
We’ll pay special attention to the development of competencies related to the study of economic processes in the countries of the Asian region. Graduates of the specialisation will gain fundamental understanding of the driving forces and factors determining economic dynamics in this part of the world. The specialisation will provide students with advanced tools for quantitative analysis in the field of economics and finance, as well as in-depth knowledge of Asian economies, which will open up wide career prospects for them.
— What goals do you set for yourself as the supervisor of this specialisation?
— Firstly, I strive to create a favourable environment for unlocking the potential of talented and motivated students. According to my own experience, I understand that support and qualified guidance are extremely important for achieving success in difficult disciplines. My task is to provide mentoring that will help students fulfil their potential.
Secondly, I intend to train graduates who can pursue a successful career in the economic and finance industry related to the Asian region. We will lay a solid foundation of knowledge and skills that will allow them to become in-demand specialists in this fast-growing market.
However, our specialisation will not be limited only to preparation for professional activity. My goal is to provide students with deep and versatile knowledge so that they can continue their studies in leading master's and doctoral programmes both in Russia (for example, at the Russian School of Economics) and at prestigious universities in Asia such as the National University of Singapore, Peking University, the University of Tokyo, and others.
Finally, I strive to create an environment of mutual growth and development where students will support each other, exchange knowledge and experience. This atmosphere will enable them to enhance their skills and become outstanding specialists in the field of quantitative economics and finance in Asia.
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