Specialization in Financial Statistics
The Specialization in Financial Statistics is designed for students who have an interest in statistical modeling in the financial industry. Various topics on finance are studied including pricing, hedging, portfolios, and risk assessment of financial products, both deterministic and stochastic. Graduates of Bc Stat from the specialization of Financial Statistics will have the ability to apply statistical science in solving problems in the financial industry. Graduates are also encouraged to work in the financial sector and government agencies such as: banks, financial consulting companies, finance companies, finance departments, and other departments which include finance.
Specialization in Actuarial Science
Actuarial is a discipline that applies statistical and mathematical methods in pricing and determining risks in the Insurance and Finance industry. Actuarial science is a combination of several branches of science, such as probability theory, mathematics, statistics, finance and economics, and computer science. A person who has expertise in actuarial science is called actuary. In Indonesia, there is an umbrella organization for actuaries, called the Society of Actuaries of Indonesia (SAI) based in Jakarta. To be an Actuary, a person must pass several exams from SAI. There are two levels of SAI membership, namely ASAI (Associate of Society of Actuaries of Indonesia) and FSAI (Fellow of Society of Actuaries of Indonesia). For the ASAI level, a prospective member must take the exams of Financial Mathematics, Probability and Statistics, Economics, Accounting, Statistical Methods, Actuarial Mathematics and Modeling, and Risk Theory. Three of these exams have been mapped and accommodated in the curriculum of the Bc Stat Study Program in FMNS UGM (read: UGM Collaboration with SAI). Graduates of the Bc Stat Study Program of this interest can work in Insurance Institutions, Pension Fund Institutions, Ministry of Finance, etc.
Specialization in Biostatistics
Biostatistics is the development and application of statistics in the field of life sciences. In particular, according to the encyclopedia of Biostatistics (Brown, 1998) and according to the criteria in the journal Biostatistics (Oxford Journal), the focus is in the field of health science or biomedicine. Biostatisticians are widely needed in fields such as research institutions and consultants, educational institutions related to health sciences, government or private institutions working in health science or hospital, drug and pharmaceutical industries. With the globalization of trade and service activities, the working place for biostatisticians is not limited to Indonesia, but also abroad. Currently, the biostatistics profession is not widely known in Indonesia. However, in the future, Indonesia needs biostatistics, for example in clinical fields such as assisting in the design of experiments and data analysis for drug development, therapy and diagnosis. In the field of public policy related to public health such as conducting data analysis related to planning and evaluating health and insurance programs. In biostatistics specialization in the Bc Stat Study Program FMNS UGM, the students study the theory and application of statistics in the field of life sciences, especially to provide solutions to problems in health science and biomedical fields. The specialization in Biostatistics is related to other specializations. For example, work related to the development of insurance products and public health policies will require competencies which combine the study done in Biostatistics and Actuarial Science Specialization. Work in the field of Health Economics and Health Technology Assessment, will require a combination of studies between Biostatistics and Financial Statistics Specializations, or with Industrial Business Statistics Specializations. Working in agricultural product engineering and agribusiness will require combining the specialization of biostatistics and the specialization of industrial business statistics.
Specialization in Business and Industrial Statistics
Statistics are very important for the business world and industry for its contributions in companies’ policy making process, in the process of monitoring, predicting, estimating, and making decisions. The use of statistics will minimize the risks of errors in decision making, both systemic and natural risks. The Bc Stat graduates specializing in Business and Industrial Science can work in the banking industry, or in the field of service and goods companies, agribusiness and mining companies, government offices, etc.