Poznań, Poland

Financial Engineering

Inżynieria finansowa

Master's
Language: PolishStudies in Polish
Kind of studies: full-time studies
  • Description:

  • pl
University website: ue.poznan.pl/en
Engineering
Engineering is the creative application of science, mathematical methods, and empirical evidence to the innovation, design, construction, operation and maintenance of structures, machines, materials, devices, systems, processes, and organizations. The discipline of engineering encompasses a broad range of more specialized fields of engineering, each with a more specific emphasis on particular areas of applied mathematics, applied science, and types of application. See glossary of engineering.
Financial Engineering
Financial engineering is a multidisciplinary field involving financial theory, methods of engineering, tools of mathematics and the practice of programming. It has also been defined as the application of technical methods, especially from mathematical finance and computational finance, in the practice of finance. Despite its name, financial engineering does not belong to any of the fields in traditional professional engineering even though many financial engineers have studied engineering beforehand and many universities offering a postgraduate degree in this field require applicants to have a background in engineering as well. In the United States, the Accreditation Board for Engineering and Technology (ABET) does not accredit financial engineering degrees. In the United States, financial engineering programs are accredited by the International Association of Quantitative Finance.
Engineering
Incorrigible humanity, therefore, led astray by the giant Nimrod, presumed in its heart to outdo in skill not only nature but the source of its own nature, who is God; and began to build a tower in Sennaar, which afterwards was called Babel (that is, 'confusion'). By this means human beings hoped to climb up to heaven, intending in their foolishness not to equal but to excel their creator.
Dante Alighieri, De vulgari eloquentia, Chapter VII
Engineering
A key characteristic of the engineering culture is that the individual engineer’s commitment is to technical challenge rather than to a given company. There is no intrinsic loyalty to an employer as such. An employer is good only for providing the sandbox in which to play. If there is no challenge or if resources fail to be provided, the engineer will seek employment elsewhere. In the engineering culture, people, organization, and bureaucracy are constraints to be overcome. In the ideal organization everything is automated so that people cannot screw it up. There is a joke that says it all. A plant is being managed by one man and one dog. It is the job of the man to feed the dog, and it is the job of the dog to keep the man from touching the equipment. Or, as two Boeing engineers were overheard to say during a landing at Seattle, “What a waste it is to have those people in the cockpit when the plane could land itself perfectly well.” Just as there is no loyalty to an employer, there is no loyalty to the customer. As we will see later, if trade-offs had to be made between building the next generation of “fun” computers and meeting the needs of “dumb” customers who wanted turnkey products, the engineers at DEC always opted for technological advancement and paid attention only to those customers who provided a technical challenge.
Edgar H. Schein (2010). Dec Is Dead, Long Live Dec: The Lasting Legacy of Digital Equiment Corporation. p. 60
Engineering
Engineering is too important to wait for science.
Benoît Mandelbrot As quoted in "Fractal Finance" by Greg Phelan in Yale Economic Review (Fall 2005)

Contact:

al. Niepodległości 10
61-875 Poznań, Poland
phone: +48 61 856 90 00
Privacy Policy