Wolfowitz said:
Ahahaha.
Two sylables to fuck you all over: In-dia: Millions of maths-ready niggas ready to model what their mother gave them.
I was talking to a senior finance lecturer, who wishes to remain annonymous, today who said that universities are being told to change their finance programs to take much of the manual maths away from finance.
Peace out <3
Outsourcing actuarial grunt work to India has already been addressed by the Institute of Actuaries Australia in its monthly magazine. It's not a viable option at the moment as there aren't enough experienced and qualified actuaries in India, and because they lack the local knowledge of laws and accepted methods. India's whole education system is geared towards IT atm.
Arithmetic calculations (computational gruntwork) is different from real maths. It's just a way for students to demonstrate they know and understand formulas/equations. There are many Finance courses available at UNSW that involve the use of spreadsheets/VBA macros, so maybe it's just USyd lagging behind.
Students, researchers and lecturers who do Commerce only are at a significant disadvantage as in the end you need the real maths as tools to do the modelling. For example, you can't price derivatives without picking up some knowledge on stochastic processes.
Wolfowitz, if you plan to read or do any serious work/research, you will eventually have to learn it. You probably are some dumb arse Geneal Maths student.
