The Center for the Study of Finance and Insurance (CSFI), which is the predecessor of the Center for Mathematical Modeling and Data Science
(MMDS), was established in 2006. The CSFI was organized with the assistance of faculty members from various graduate schools with different
academic fields such as financial economics, probability and stochastic processes, statistics, operations research, and so on, but with a
common subject, i.e., "risk is measured, analyzed, evaluated and managed." Moreover, with the cooperation of the business community, in
addition to the academic faculty, the CSFI provided its graduate students with educational programs such as actuarial science, insurance,
mathematical finance and financial engineering. As a result, many financial engineers, actuaries and financial planners graduated from the
CSFI. It would not be an exaggerated statement that our educational and research levels may possibly be the topmost amongst Japan’s in
financial and actuarial programs.
However, at present, Japan remains inferior to the other advanced countries such as the U.S. and U.K. To progress, we need assistance from the
mathematical and data science fields in order to obtain effective tools for resolving the structure of our financial economy.
Moreover, complex systems such as information and telecommunication networks, a financial economy that changes with every moment, and
natural phenomena that are extremely difficult predict have recently appeared in various aspects. Therefore, an understanding of the
associated system structures and mechanisms has become very important. In order to obtain useful information from the great amount of data
that has accumulated from such complex systems with every moment, we require an analysis and efficient use of big data. However, there are
very few mathematical and data scientists in Japan. Therefore, increasing the number and quality of these scientists is an urgent requirement.
In order to meet these needs, we decided that the CSFI should be improved, and MMDS was established in October 2015, based on a
reorganization of the CSFI. MMDS consists of three divisions: Finance and Insurance, Mathematical Modeling, and Data Science. We already
offer two educational programs, which are the Graduate Minor Program, called Finance and Insurance, and the Graduate Program for Advanced
Interdisciplinary Studies, called Data Science. In 2015, there are more than 400 graduate students who attend these two educational programs
at Osaka University. This number represents the largest group of students attending Osaka University. Thank you very much for your support
Center for Mathematical Modeling and Data Science (MMDS)
Takashi Suzuki, Director