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News Archive: 2013
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    Master of Science in Computational Finance ranked #1 QuantNet, a leading online news outlet in the field of financial engineering, has recognized the Master in Computational Finance (MSCF) program at Carnegie Mellon University as #1 in its 2013-2014 ranking of financial engineering programs. This is the second #1 ranking in a row for MSCF, which was also ranked first in the 2011-2012 Quantnet ranking.

    "We created the first professional degree in computational finance almost 20 years ago, and now there are scores of them, including at Columbia, NYU, Princeton and UC-Berkeley," said Steve Shreve, Professor of Mathematical Sciences and one of the founders of the CMU MSCF program. "I believe we owe our leading position to the fact that Mathematical Sciences chose to create this degree jointly with the Tepper School of Business, the Department of Statistics, and the information technology faculty in the Heinz College. To succeed in the finance industry, one needs a strong foundation in math, but one also needs to deal with data, write computer code, and understand the business environment. Inter-disciplinarity is a hallmark of Carnegie Mellon."

    Although MSCF is inter-disciplinary, the Department of Mathematical Sciences plays a critical role, teaching a third of the curriculum and providing leadership in policy matters. The Department is deeply invested in the applications of mathematics to finance. The Department is home to the Bachelor's program in Computational Finance and graduates a steady stream of Ph.D. students whose research treats mathematical problems arising in finance.

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    Mackey wins the 2013 Ryan teaching awardJohn Mackey, Teaching Professor, Associate Department Head and Director of Undergraduate Studies in Mathematical Sciences, received the 2013 William H. and Frances S. Ryan Award for Meritorious Teaching. This prestigious university-wide award is given annually to a faculty member at Carnegie Mellon who has demonstrated unusual devotion and effectiveness in teaching. Professor Mackey is particularly adept at delivering sophisticated mathematical content to large groups of students. This is apparent in his extremely successful re-design of the course Concepts of Mathematics, a course that plays a pivotal role in the Mathematics and Computer Science curricula at CMU.
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  • Putnam Mathematical CompetitionCMU team places 5th on the 2012 William Lowell Putnam Mathematical Competition. This is the fifth top 5 Putnam performance for CMU.
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    Gautam Iyer Awarded Sloan FellowshipGautam Iyer, an assistant professor of Mathematical Sciences and member of the Center for Nonlinear Analysis, was named a 2013 Sloan Research Fellow . These fellowships seek to stimulate fundamental research by early-career scientists and scholars of outstanding promise. Iyer also received an NSF CAREER Award in 2013. The Faculty Early Career Development (CAREER) Program offers the National Science Foundation's most prestigious awards in support of junior faculty who exemplify the role of teacher-scholars through outstanding research, excellent education and the integration of education and research.

    Professor Iyer studies the equations that model incompressible fluids, diffusive transport, mixing, liquid crystals and coagulation using tools from both Probability and Analysis. His research advances our understanding of mathematical models for a variety of phenomena, including physical and chemical processes. One of Professor Iyer's research projects addresses vacuums in fluids. It is universally known that nature abhors a vacuum. In the context of compressible fluids, however, a rigorous proof of this law has eluded mathematicians for quite some time. Professor Iyer hopes to use a probabilistic representation of fluids that he developed in his PhD thesis to further our understanding of the emergence of vacuum states in compressible fluids.

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    President of the Society for Industrial and Applied MathematicsPITTSBURGH— Irene Fonseca, Mellon College of Science Professor of Mathematics, has been elected president of the Society for Industrial and Applied Mathematics, an international professional society for applied mathematicians. She served a one-year term as president-elect in 2012. On January 1, 2013 she began a two-year term as president.
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