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Executive Education: Open Programmes

Computational Intelligence Methods in Financial Decision Making
Dr Michael Doumpos & Dr Kostas Andriospoulos
Short programme
Duration: 2 days
Language: English
Campus: London
Dates: October 2017

Taught by:

Dr Kostas Andriosopoulos
Associate Professor and Academic Director of the Master in Energy Management Executive Director of the RCEM @ ESCP Europe Business School.

Dr Michael Doumpos

Co-Director of Research, Financial Engineering Laboratory & Associate Professor, Technical University of Crete, Greece

All enquiries:

Francesco Morrone

Deputy Head of Executive Education
Mobile: +44 (0)7702 930635
Office: +44 (0)20 7443 8816
Email

Description


Financial decisions are characterised by their highly complex and ill-structured nature, the increasing volume of data that needs to be analysed, and the uncertainties involved in the decision context.

Computational intelligent systems and techniques are well-suited in this framework. Computational intelligence methodologies have been successfully used in a variety of complex financial decision-making problems, providing researchers and practitioners with the ability to process massive financial data, enabling the solution of complex financial optimisation problems, and facilitating the decision-modelling process through methodologies that cope with the non-linearities, uncertainties and ambiguity involved in the decision making process.

Objectives


The objective of this course is to illustrate a variety of modern quantitative techniques from the field of computational intelligence; help students understand the capabilities that such techniques provide and identify their strengths and weaknesses; and provide experience on how popular computational intelligence techniques can be successfully applied in different areas of financial decision-making such as credit scoring, corporate performance evaluation, portfolio optimisation, trading systems and banking management.

Audience

Postgraduate students, researchers and practitioners interested in financial risk management and business analytics.

Average participants in class: 10

Admission Criteria


All enquiries:

Francesco Morrone
Deputy Head of Executive Education
Mobile: +44 (0)7702 930635
Office: +44 (0)20 7443 8816
Email

Academic Direction

Dr. Kostas Andriosopoulos holds the position of Assistant Professor in Finance & Energy Economics at ESCP Europe. He is also the Academic Director of the Master in Energy Management and Executive Director of the School's Research Centre for Energy Management (RCEM).

He teaches postgraduate-level courses in Corporate Finance, Futures, Options & Derivatives, and Energy Risk Management. He previously taught Company Valuation and Financial Engineering at undergraduate level at Cass Business School as a visiting Lecturer.

Kostas holds a PhD in Finance from Cass Business School, City University London (2011). In support of his PhD studies he was the recipient of the prestigious Alexander S. Onassis Public Benefit Foundation's scholarship. He also holds an MBA and MSc in Finance, both with distinction, from Northeastern University, Boston, USA (2006), and a bachelor degree in Production Engineering & Management from Technical University of Crete, Greece (2004). Since 2006, he has been a member of the Beta Gamma Sigma honour society, which recognises outstanding academic achievements of students enrolled in collegiate business and management programmes.

His current research interests include price modelling and the application of risk management techniques and innovative investment strategies in energy, shipping and agricultural commodities' markets; other areas of expertise are in asset valuation, private equity, financial engineering, and international trade. His research papers have been published in international finance and commodities related Journals, and have been presented in established and recognised conferences world-wide.

Since November 2011, Dr. Kostas Andriosopoulos has been appointed as an Associate Editor of the International Journal of Financial Engineering and Risk Management. In addition, he acts as a reviewer for a number of academic journals, such as the Journal of Financial Decision Making, International Journal of Banking, Accounting and Finance, Operational Research: An International Journal, Risk Analysis: An International Journal, amongst others. He is also an active member in various professional and academic associations such as the International Association for Energy Economics, Financial Engineering and Banking Society, Hellenic Finance and Accounting Association, and Technical Chamber of Greece.

In addition to his academic profile he has an extensive professional experience in the business world. He is the co-founder and managing partner of a web-based software company established in 2010, which already has an international presence in a number of European countries after securing seed capital from Dutch private investors. He has also worked as a Research Analyst for the British Bankers' Association (2007). Finally, since 2007 he has been consulting for various international companies in the commodity trading, technology, food, and shipping industries in a number of countries, including Denmark, the Netherlands, USA, UK, China, Italy, Greece and Cyprus.


Dr Michael Doumpos holds a PhD in operations research (2000) and a MSc in Production Engineering and Management (1997) from the Technical University of Crete, where he currently holds an Associate Professor position.

His research interests include multiple criteria decision making, decision support systems, computational pattern recognition and financial risk management. He has published over 60 research articles in premier international journals and also co-authored several books, edited volumes, book chapters, conference papers, and edited special issues.

Michael is associate editor of OMEGA and recipient of the best reviewer award from the European Journal of Operational Research (2010 and 2012).

Fees and financing


Registration fee for participants is £2,500.
Early bird discount 10% applicable until the end of August.
Discounts for PhD students available upon request.

Category

Discount

B2B

10%

ESCP Europe Alumni

10%


Key points
  • The context of financial decision making
  • Introduction to computational intelligence
  • Principles of data mining
  • Construction of financial decision models through data mining algorithms
    • Data pre-processing
    • Data pre-processing 
    • Model building
    • Testing and validation procedures
    • Illustrations from credit scoring, corporate performance evaluation, and banking

  • Introduction to evolutionary algorithms
  • Financial optimisation with evolutionary algorithms
    • Traditional financial optimization with illustrations from portfolio management
    • Evolutionary portfolio optimization for complex investment policies and risk measures

  • Examples of other application areas (intelligent trading systems, auditing, derivatives, etc.)
Content


Learning Outcomes


This course will enable you to:

  • Understand and apply modern quantitative techniques for financial modelling
  • Process complex financial data for predictive analytics and modelling
  • Implement the procedures needed for successful model building and validation
  • Solve complex financial optimisation problems when analytical techniques are not applicable


Pedagogical Approach


The concepts and techniques will be presented through real financial decision making examples. Software demonstrations will also be presented.

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