Institute of Mathematics and Applications, Bhubaneswar

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This article is about the IMA in India. For other uses, see Institute of Mathematics and Applications (disambiguation).
Institute of Mathematics and Applications (IMA)
Established 1999
Type Public
Director Prof. Sudarshan Padhy
Location Bhubaneswar, Odisha, India
Campus 23-acre (93,000 m2)
Bhubaneswar is located in Odisha
Location of IMA

The Institute of Mathematics and Applications, (IMA) Bhubaneswar is an academic institution that was established by the government of Odisha in 1999. Its dual purposes are to conduct advanced research in pure and applied mathematics, and to provide postgraduate education leading to Masters and Ph.D. degrees in mathematics, computation and computational finance. The institute also runs training programs in schools aimed at increasing mathematics awareness and leading to competitions such as the Mathematics Olympiads.


The institute began functioning in 1999 inside a room of the Pathani Samanta Planetarium in Bhubaneswar. In July 2008, IMA acquired its own residential campus, built by Tata Steel in Bhubaneswar city, when it was established as a full-fledged, degree granting academic institution. Currently Professor Sudarshan Padhy is the director of IMA.[1]


The main institute is a 7,000 square metres (75,000 sq ft) complex, which was designed by architect Karan Grover, with an investment of Rs. 140 million. The 23-acre (93,000 m2) campus also includes computer laboratories, classrooms, a library, as well as residential accommodations. Also a play ground and a volley court. The environment of the campus is very pleasant.[1]


The current focus areas of research within the institute include wavelet analysis, stochastic processes, operator theory, fuzzy logic, geometric application in physics, approximation theory, and cyclone modelling, Machine Learning in Finance, Computational Finance.

The institute offers a B. Sc. Honors degree in Mathematics and Computation as well as an M. Sc. degree in Computational Finance. It currently admits 96 students each year based on an entrance examination.[2]

It also provides training to school students for mathematical competitions. In 2008, the national winner of the Junior Mathematics Olympiad had received her training from this institution.[3]

The institute professes to investigate the mathematical tradition of ancient India. It also provides awards to eminent mathematicians in the state of Odisha.

M.A/M.Sc in Computational Finance[edit]

(The only one of its kind in India)

Finance as a subject has emerged to be an extremely involved branch of knowledge with growing number of stock exchanges and investors in the field. Risk and return that constitute cardinal aspects of the subject, remain as a major concern for every investor, individual as well as institutional. Volumes of data encountered in the process make investment decisions difficult. In apparently erratic behaviors of the market, however the mathematicians try to capture patterns vis- a-vis predictability, which may help investors decide on their investment. Computational finance otherwise called financial engineering deals with portfolio selection, options and futures, asset pricing, managing derivative markets and hedging under uncertainty. The course imparts, besides, basic grounding on finance, expertise for modeling under uncertainty, a high level of computational skill geared towards finance, knowledge of financial accounting and regulations. The aim is to produce a competent financial engineer capable of analyzing existing financial products and suggest new innovative products for the financial market.

Career In Computational Finance[edit]

  • Quantitative Trader
  • Quantitative Analyst
  • Quantitative C++ Developer
  • Data Analyst
  • Prop Desk,Hedge Fund,Scientific computing in Finance,Investment Bank.

See also[edit]


  1. ^ a b Orissa Today (18 June 2009). "Odisha CM inaugurates new mathematics institute complex in Bhubaneswar". 
  2. ^ Higher Education in India (28 June 2009). "IMA entrance examination". 
  3. ^ Times of India (14 June 2009). "Making maths hot favourite". The Times Of India. 

External links[edit]

Coordinates: 20°19′03″N 85°46′41″E / 20.3175°N 85.7780°E / 20.3175; 85.7780