Tribhuvan University, Institute of Science and Technology (IOST-TU) established an autonomous school; School of Mathematical Sciences (SMS) in 2016 AD with an objective to run courses on Mathematical Science in undergraduate and graduate level.
The School is currently running Bachelors programme in Mathematical Science (BMathSc) and is planning to run Masters programme in near future.
With an aim to know more about the subject and help the students to take informed decision our team tried to find out more about the programme. In order to disseminate authentic and reliable information about the programme among the interested students we met with the director of SMS, Prof. Dr. Prakash Muni Bajracharya and had conversation about what BMathSc actually is and many more.
Here is our conversation with the director of SMS,TU.
What is Mathematical Science?
Mathematical Science is the application of knowledge of Mathematics, Statistics and Computer Science in any field that uses processed mathematical information and data. Mathematics and statistics are widely used today in many fields and this course/subject aims to equip students with the skills to use mathematics in the field of finance, insurance, banking, biology, economics etc.
In Mathematical Science, subjects are generally divided into two categories:
The first category includes subjects related to Mathematics, Statistics and Computer Science. We also call it basic category which is compulsory for all the students.
Second Category includes subjects related to the field of specialization that a student opts for.
How is it different from other traditional courses taught in Mathematics at university level?
In simplest form, Mathematical Science is an applied form of Mathematics. In Mathematical Science our focus is not only limited within the horizon of Mathematics, Statistics and Computer Science (MCS). We also teach the subjects in which students want to apply their Mathematical knowledge and Computing Skills. For instance, if a student wishes to develop his/her career in the field of banking and finance we teach them those subjects that are associated with banking and finance along with Mathematics, Statistics and Computer.
In traditional courses taught in Mathematics, we only imparted theoretical knowledge of mathematics. But in Mathematical Science we teach the students how to use the knowledge of Mathematics, Statistics and Computer Science in the area of their specialization. Our aim is to deliver application oriented knowledge. This will help the students to be skillful.
What are the specializations that you are offering?
Currently, we are running only Bachelors program in Mathematical Science. We started in 2016. In the first year of inception we admitted the students offering specialization only in Actuarial Science. But we are planning to admit students offering specializations in Mathematical Finance and Mathematical biology apart of Actuarial Science in upcoming years.
Actuarial Science, would you shed some light on what type of subject it is?
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance and other industries and professions. Actuarial Science helps to develop a career as an Actuary.
Degree in Actuarial Science will help the students to easily crack the professional certification exams of Actuaries. Our curriculum incorporates the areas covered in such exams. This will help students to develop their career as a professional Actuary.
Is it mandatory to have professional certification? Would the degree be of no use if the students have a university degree only in Actuarial Science but no professional certifications?
This is an important question. Let’s be clear about it.
Professional certification is not mandatory. A university degree would be enough for a student to land in a job. The skill set that are provided to the students is enough for having a good career, as these are unique set of skills and the Actuarial Science itself is a rigorous course.
But if a student wishes to be more competent than he/she can sit in professional certification examinations. Such certifications will make them saleable around the globe. Professional Actuary is the highest paid job around the world.
Is School of Mathematical Science taking any initiation to help the students be professionally certified?
We are talking with Institute of Actuaries of India (IAI) in this regard to collaborate with them. Our aim is to conduct professional certification examination under IAI in School of Mathematical Sciences. This will help the students to sit for the professional examination here which will save their cost related with travelling to India and many associated costs for appearing in such examinations. Hopefully we will sign MoU very soon with IAI.
What are the job prospects for the graduates and what is the initial reaction of Nepali market about this course?
As I already said, there is an acute shortage of Actuarial Science graduates in Nepal. Hence, the prospect is bright in the field of finance, insurance, banking.
Though we haven’t been able to disseminate the information about the course to a larger audience but those whom we approached are very positive about it. Insurance Board of Nepal and Rastriya Beema Sansthan are positive and had assured us that they will certainly find some way to employ our graduates. Insurance Companies from private sectors are in constant touch with us. They are asking us to send our students for internship in their organizations. While commercial banks are also looking forward to hire our students as data analysts.
The graduates can also work as consultants, financial analysts, mathematical modeler, researchers and teachers.
Who can study BMathSc? What are the criteria for enrollment in School of Mathematical Sciences?
Students who have studied Math/Business Math of 100 Marks in their +2 can sit in Entrance Exams. The students need to pass the entrance exam to study.
Entrance exam carries 100 Marks and the areas covered in entrance test are Math, IQ, GK and English.
We admit only 36 students in an academic session. Hence, the student need not only pass the entrance test but appear in the top 36 list for admission.
As you said students from any faculty with 100 Marks of Math/Business Math in their high school can study this subject. Won’t the students face difficulty in class as all students may not be equally well equipped in mathematical concepts?
Our curriculum is designed in such a way that we begin from the most basic ideas and concepts. Moreover, we place special emphasis on weak students and are providing extra classes to weak and needy students. Our teachers are also working hard to deliver the subject matter in the most effective way so that the student may not encounter any difficulty.
At last something that you want to say?
We are offering quality education with an aim to produce quality manpower. Our aim is to fill up the manpower crunch in this sector. Career prospect is bright. We are offering the whole 4-year program at nominal cost of around 4 lakhs.
We are not only trying to produce technical manpower rather we aim to produce a holistic human being with technical knowledge and skills. For this we have included literature and anthropology in our curriculum. We want to develop the human element and humanity side of our students rather than making them a machine with only technical know-hows.
Thank you for providing an opportunity to express my views about the course and helping the potential students to know about the course.
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