In finance and actuarial science education, it is essential to provide an academic program that balances both social/institutional and mathematical/technological aspects of these fields.
In order to effectively design and develop financial, insurance, and pensions systems and products, professionals must be in possession of sophisticated mathematical and technological knowledge, combined with a thorough understanding of the economic meanings and roles of these systems and products within a complex society. A lack of understanding of the advanced mathematical theories required for the complex design of these systems and products will lead to failure in their application, analysis, and development. Therefore, it is critical that professionals are trained to have both adequate mathematical/technological skills and social/institutional knowledge. A unique feature of DFI is the development of integrated social and natural science educational programs. Such programs are much needed in today’s society.
Another remarkable feature of DFI is that it deals not only with finance theory and financial engineering but also with actuarial mathematics. Osaka University has a strong tradition in the fields of probability theory, stochastic calculus, statistics, and monetary economics. In 1999, a number of professors in these fields formed the Finance Theory and Applications group (FTA) in order to collaborate on educational and research activities. On the basis of these activities, DFI will create a multi-disciplinary faculty by embracing science, engineering sciences, information science, and economics, by incorporating a new educational system that will include the development of a new and unique integrated socio-natural science program along with the study materials to support that program. Moreover, as DFI’s research fields are closely related to the world of finance, business professionals will be invited to contribute to the practical business education aspects of the program.