Prerequisites: basic probability and statistics, basic linear algebra, and calculus This course will provide a comprehensive overview of machine learning as it is applied in a number of domains. Comparisons and contrasts will be drawn between this machine learning approach and more traditional regression-based approaches used in the social sciences. Emphasis will also be placed on opportunities to synthesize these two approaches. The course will start with an introduction to Python, the scikit-learn package and GitHub. After that, there will be some discussion of data exploration, visualization in matplotlib, preprocessing, feature engineering, variable imputation, and feature selection. Supervised learning methods will be considered, including OLS models, linear models for classification, support vector machines, decision trees and random forests, and gradient boosting. Calibration, model evaluation and strategies for dealing with imbalanced datasets, n on-negative matrix factorization, and outlier detection will be considered next. This will be followed by unsupervised techniques: PCA, discriminant analysis, manifold learning, clustering, mixture models, cluster evaluation. Lastly, we will consider neural networks, convolutional neural networks for image classification and recurrent neural networks. This course will primarily us Python. Previous programming experience will be helpful but not requisite. Prerequisites: basic probability and statistics, basic linear algebra, and calculus.
Machine learning algorithms continue to advance in their capacity to predict outcomes and rival human judgment in a variety of settings. This course is designed to offer insight into advanced machine learning models, including Deep Learning, Recurrent Neural Networks, Adversarial Neural Networks, Time Series models and others. Students are expected to have familiarity with using Python, the scikit-learn package, and github. The other half of the course will be devoted to students working in key substantive areas, where advanced machine learning will prove helpful -- areas like computer vision and images, text and natural language processing, and tabular data. Students will be tasked to develop team projects in these areas and they will develop a public portfolio of three (or four) meaningful projects. By the end of the course, students will be able to show their work by launching their models in live REST APIs and web-applications.
Effective leaders are able to think critically about problems and opportunities, imagine unexpected futures, craft a compelling vision, and drive change. In this course, we study the theoretical underpinnings of leadership communication, relying on empirical evidence as a guide for practice. Students gain important perspective on leadership styles, mastering the competencies required for a variety of contexts.
Digital media opens new opportunities for increasingly targeted communications across a variety of channels, which rapidly expands the importance of analytics in tracking and measuring key performance indicators (KPIs). This course prepares students to work within data- and model-driven environments with an emphasis on using analytics to develop insights and support strategic decisions.
Foundational ERM course. Addresses all major ERM activities: risk framework; risk governance; risk identification; risk quantification; risk decision making; and risk messaging. Introduces an advanced yet practical ERM approach based on the integration of ERM and value-based management that supports integration of ERM into decision making. Provides a context to understand the differences between (a) value-based ERM; (b) traditional ERM; and (c) traditional "silo" risk management.
The insurance business is an outward facing business built around selling products to individual and business consumers. Therefore, insurance service providers, like all sophisticated consumer-driven businesses, must carefully and constantly assess their markets and strategies to remain relevant in a highly competitive environment. From consumer data analytics, to proper risk pricing, to efficient distribution channels, to navigating social media, to managing the highly regulated nature of insurance sales and distribution, insurance providers operate in a highly competitive environment that rewards discipline as well as innovation. Successful companies identify and make tough decisions to correct underperforming parts of their portfolios and they temper their approaches to new products where loss costs and pricing requirements are uncertain. They innovate by thinking first about new and evolving loss exposures their customers face and develop insurance products and services that respond. They focus on the client experience through the entire insurance process and create specialized/differentiated products and services to either avoid commoditization or leverage it, depending on the needs of that market and the strengths of that insurer.
The focus of this core course, in MSIM’s Insurance Rotation area of study, will include the history and the evolution of the insurance industry across the three main insurance sectors, i.e. property/casualty, life and health. The course will address factors that drive company investment in and/or withdrawal from specific products and markets and the complexities around developing, pricing and selling a product for which costs are determined only after claims have been paid – something that often occurs many years after the policy was sold. The course will consider how providers are expanding beyond traditional products into related services and how technology is increasing innovation around product design and marketing.
Insurance Management Student Community Center helps facilitate remote pre-residency requirements and preparatory activities to preserve the limited in-person time we have during the residency for other activities. Given that we are a remote program, this is the most effective way to introduce, assign, inform and track new student activity prior to starting the core courses. The use of a dedicated site helps the students practice using the LMS, in addition to acclimating to Columbia, the faculty and the resources. The activities in which the students participate for the residency are critical to their success in the 16-months of remote learning in which they engage. Recordings and other materials are provided to students in continuity with completed activities and the site is also used as a general communications tool with the students outside of the dedicated Canvas courses.
The Wealth Management Student Community Center helps facilitate remote pre-residency requirements and preparatory activities to preserve the limited in-person time we have during the residency for other activities. Given that we are a remote program, this is the most effective way to introduce, assign, inform and track new student activity prior to starting the core courses. The use of a dedicated site helps them practice using the LMS, in addition to acclimating to Columbia, the faculty and the resources. The activities in which the students participate for the residency are critical to their success in the 16-months of remote learning in which they engage. Recordings and other materials are provided to students in continuity with completed activities and the site is also used as a general communications tool with the students outside of the dedicated Canvas courses.
This course examines the relationship between colonialism, settlement and anthropology and the specific ways in which these processes have been engaged in the broader literature and locally in North America. We aim to understand colonialism as a theory of political legitimacy, as a set of governmental practices and as a subject of inquiry. Thus, we will re-imagine North America in light of the colonial project and its technologies of rule such as education, law and policy that worked to transform Indigenous notions of gender, property and territory. Our case studies will dwell in several specific areas of inquiry, among them: the Indian Act in Canada and its transformations of gender relations, governance and property; the residential and boarding school systems in the US and Canada, the murdered and missing women in Juarez and Canada and the politics of allotment in the US. Although this course will be comparative in scope, it will be grounded heavily within the literature from Native North America.
Prerequisites: at least four semesters of Latin, or the equivalent. Intensive review of Latin syntax with translation of English sentences and paragraphs into Latin.
This course covers the basic elements of crisis communication and the procedures for creating crisis communications plans and for reacting to crises when they occur. How best to develop various plans for different critical audiences and understand the most effective strategies for communicating your organization’s message during a crisis is explored. The course examines various types of crises that can occur with corporations and nonprofit organizations and the differences and similarities among them. How to avoid the classic and common pitfalls of crisis communication are addressed, as are ethical issues that arise during crises. Numerous case studies are discussed in class and exercises both in and outside of class are assigned so students gain experience in crisis communication situations.
In this advanced professional writing workshop, students are guided through the process of crafting a significant publication-ready piece of writing, applying principles of journalism and strategic communication. Whether a book chapter, in-depth feature article, white paper, or policy proposal, each student’s unique project will require mastering a range of communication tools—including storytelling, data presentation, observation, and analysis.
Effective dialogue is one of the single most important activities of leaders today. Whether you are confronting a team member who is not keeping commitments, critiquing a colleague’s work, disagreeing with a spouse about financial decisions, or telling someone no, critical conversations are often avoided or handled in clumsy ways. This course will provide the theory underpinning these conversations, diagram their structure, and provide specific strategies for approaching them successfully.
This course provides an overview of the traditional ERM frameworks used to identify, assess, manage, and disclose key organizational risks. The traditional ERM frameworks are those that are more commonly in use and include COSO ERM, ISO 31000, and the Basel Accords. This course also provides an understanding of the methods, tools, techniques, and terminology most organizations use to manage their key risks, presented in the context of the foundational elements of an ERM process. This will enable students to navigate the ERM landscape within most organizations, and, along with the second-semester course Value-Based ERM, evaluate opportunities to enhance the existing ERM practices and evolve their ERM programs over time.
Prerequisites: graduate standing. Introductory survey of major concepts and areas of research in social and cultural anthropology. Emphasis is on both the field as it is currently constituted and its relationship to other scholarly and professional disciplines. Required for students in Anthropology Department's master degree program and for students in the graduate programs of other departments and professional schools desiring an introduction in this field.
This course examines the discipline of global marketing communication, including the environmental factors that enabled global marketing. The course assesses early models of communication management and the current factors that enable global communication programs: the identification of global target audiences; the kinds of products and services that lend themselves to global communication and those that don’t; and the characteristics of leadership brands that are preeminent in global communication today. Students consider how levels of development and cultural values affect communication programs and how local differences can be reflected in global programs. Message creation and the available methods of message distribution are evaluated in the context of current and future trends. Students learn how to approach strategy and develop an integrated, holistic global communication program and how to manage such a program.
Prerequisites: Knowledge of statistics basics and programming skills in any programming language. Surveys the field of quantitative investment strategies from a buy side perspective, through the eyes of portfolio managers, analysts and investors. Financial modeling there often involves avoiding complexity in favor of simplicity and practical compromise. All necessary material scattered in finance, computer science and statistics is combined into a project-based curriculum, which give students hands-on experience to solve real world problems in portfolio management. Students will work with market and historical data to develop and test trading and risk management strategies. Programming projects are required to complete this course.
Provides a global review of ERM requirements of regulators, rating agencies, and shareholders. Addresses three industry sectors: (1) insurance; (2) banking; and (3) corporate.
This course introduces students to the economic importance of brand building activities based on the proven link between brand equity and business performance. Students examine the role that strategy and communication play in building brand equity, and explore how the changing media landscape is causing companies to rethink traditional brand-building practices. Students will use critical thinking, case-analysis, market research, and strategic presentations to persuade a business decision maker to invest in brand building efforts. For students who are interested in building stronger brand cultures within their organizations (for both the profit and nonprofit sectors) and/or for pursuing careers on the brand side of strategy, this course answers the question: Why should businesses and institutions care about branding?
The global knowledge economy, cross-border market permeability, and worldwide talent mobility have accelerated the rise of multinational and domestic organizations comprised of individuals from many different cultural and linguistic backgrounds. As these trends strengthen, so, too, does the likelihood that the 21st-century worker will spend a significant part of her/his professional career in a multicultural workplace. While such diversity affords great benefits to organizations, their employees and clients, it is often accompanied by a rise in communication misfires and misunderstandings that can undermine individual, team, and organizational performance.
Risk/return tradeoff, diversification and their role in the modern portfolio theory, their consequences for asset allocation, portfilio optimization. Capitol Asset Pricing Model, Modern Portfolio Theory, Factor Models, Equities Valuation, definition and treatment of futures, options and fixed income securities will be covered.
To make informed decisions about communication, we need a clear understanding of our audience and its motivations. We begin by asking the right questions and interpreting the results. This course covers essential market research methods, including quantitative and qualitative techniques. Students gain direct experience in collecting and analyzing data, developing insights and choosing research-driven communication strategies that meet client objectives.
Workshop-like course that addresses a variety of communication skills, including listening skills, presentation skills, leadership communications, conflict resolution, management interactions, and professional communication techniques.
IMGT5300PS
The hedge fund industry has continued to grow after the financial crisis, and hedge funds are increasingly important as an investable asset class for institutional investors as well as wealthy individuals. This course will cover hedge funds from the point of view of portfolio managers and investors. We will analyze a number of hedge fund trading strategies, including fixed income arbitrage, global macro, and various equities strategies, with a strong focus on quantitative strategies. We distinguish hedge fund managers from other asset managers, and discuss issues such as fees and incentives, liquidity, performance evaluation, and risk management. We also discuss career development in the hedge fund context.
Review of the types of strategic risks, such as a flawed strategy, inability to execute the strategy, competitor risk, supply chain risk, governance risk, regulatory risk, M&A risk, international risk, etc. Includes case studies, research, and common mitigation techniques, such as strategic planning practices, management techniques, governance practices, supply-chain management, etc.
As digital media increasingly drives the field of strategic communication, leading successful communication efforts also require a platform specific, evidence-based strategic approach. Leaders must know how to use a broad and rapidly changing mix of digital media platforms and tools to connect their message with the right audience. To that end, this course covers major topics in digital media and communication, such as content strategy, digital experience, channel planning, online reputation management, programmatic marketing, audience targeting, artificial intelligence and more. Through in-class lectures, discussion, case studies, guest speakers, group projects and individual writing assignments, students in this course will be introduced to strategic decision-making and communications planning for social media, mobile, digital advertising, search, email, digital out-of-home and interactive media (video, radio, podcasts). Students will also gain an in-depth understanding of how to integrate digital strategies and tactics with traditional communication efforts.
Review of the types of operational risks, such as technology risk (e.g., cyber-security), human resources risk, disasters, etc. Includes case studies, risk analysis frameworks and metrics, and common mitigation techniques, such as insurance, IT mitigation, business continuing planning, etc.
Students without a strong math background and experience with Excel will require significant additional time and effort to achieve the learning objectives and work through the course assignments.
This course builds a foundation in the mathematics and statistics of risk management. Students are empowered to understand the output of quantitative analysts and to do their own analytics. Concepts are presented in Excel and students will have the opportunity to practice those concepts in Excel, R or Python.
This course is a required prerequisite for registering for the following courses: Coding for Risk Management, Financial Risk Management, Quantitative Risk Management, Credit Risk Management, Market Risk Management, Credit Risk Analytics, Applied Coding for Risk Management, Derivatives Risk Management, Model Risk Management, ERM Modeling, and Machine Learning for Risk Management.
Equips students with the ability to adopt the programming culture typically present in the ERM/risk areas of most financial organizations. By studying Python, SQL, R, git, and AWS, students gain exposure to different syntaxes. Students apply these skills by coding up market risk and credit risk models. Students also gain familiarity with working in the cloud.
A survey of market, credit, liquidity, and systemic risk. Includes case studies, risk quantification methods, and common mitigation techniques using portfolio management, hedging, and derivatives. Also addresses traditional risk management practices at banking institutions.
Ethical questions about museum activities are legion, yet they are usually only discussed when they become headlines in newspapers. At the same time, people working in museums make decisions with ethical and legal issues regularly and seldom give these judgments even little thought. In part, this is due to the fact that many of these decisions are based upon values that become second nature. This course will explore ethical issues that arise in all areas of a museum's operations from governance and management to collections acquisition, conservation, and deaccessioning. We will examine the issues that arise when the ownership of objects in a museum's are questioned; the ethical considerations involved in retention, restitution and repatriation; and what decolonization means for museums.
Provides the opportunity to learn how business units operate at an investment bank. Several industry practitioners each spend one to two sessions providing a hands-on experience that recreates the operations and decision-making of front, middle, and back offices work at a bank. Students typically learn the common activities, the data inputs, the analytics, and the applications of the insights.
Quantitative Risk Management continues building your quantitative foundation in order to work with more advanced models and use mathematical and statistical intuition for building those models. At the end of this course, you will be able to use analytics algorithms for risk management; use factor models to assess the quality of investment portfolios and trader positions; hedge equity, option, and fixed-income portfolios using derivatives; estimate volatility with options models and GARCH models; and model ESG and Climate risk.
The course is highly structured and organized by topic into semester long learning threads. Each week, readings and assignments will take another step forward along these threads: regression models, classification models, time series analysis, options and volatility modeling, fixed income modeling, factor models and portfolio management, tail risk modeling. These concepts will be demonstrated in python and students are expected to be able to understand and run python code.