Programme Introduction
Students admitted to the Statistical Decision Sciences programme can freely choose either Decision Analytics, Risk Management, or Statistics as their specialized Bachelor of Science degree programme.
The Bachelor of Science in Decision Analytics programme aims to equip students with the skills and expertise in leveraging and managing big data in real time. With an emphasis on statistically guided AI techniques, it provides students with solid training in making digitized information a strategic part of critical decision-making and resource allocation at high levels of clarity and accuracy. Built upon a synergy between data science and statistical reasoning, the programme strives to enrich artificial intelligence with a strong touch of human intelligence.
The Bachelor of Science in Risk Management programme aims to provide students with the skills and expertise in the theory and methodology behind the scientific process of risk management, with application to quantitative modelling, financial risk analysis, statistics and other related areas of interest. It is designed to provide solid training in the concepts of the risk management process, statistical models and methods of risk management, and good risk management practice.
The Bachelor of Science in Statistics programme focuses on the study of statistics, a scientific discipline characterized by the development and applications of analytical and quantitative tools which involve logical thinking, problem formulation, probability reasoning and intensive data analyses. The programme aims to equip students with powerful mathematical, analytical and computational skills, which are in great demand in practical areas where data are obtained for the purpose of extracting information in support of decision making. It gives students a strong background in statistical concepts, and provides broad and solid training in applied statistical methodologies.
Core courses in the Decision Analytics curriculum emphasize the fundamental concepts and methodologies of decision analytics which include but not limited to statistical analysis, machine learning, data visualization, programming, data structuring, mathematical and statistical modelling, and implementation of database systems. Elective courses focus on diverse and applied techniques of decision analytics in multidisciplinary fields.
Core courses in the Risk Management curriculum emphasize fundamental concepts and nature of risk assessment, risk management and governance from different standpoints while elective courses provide either training in specific Risk Management disciplines or an extension of knowledge aiming to give students more modelling, technical and analytical skills in risk management, including credit and market risk analysis, data mining, stochastic calculus, and financial time series modelling.
The Statistics curriculum is constantly revised to meet a steadily rising demand for specialist statisticians or quantitative analysts in government, business, finance, industry, as well as in research and teaching in local and overseas institutions.
Students will first build up a solid mathematical foundation in junior years of study, followed by rigorous training in statistical knowledge and skills in both theorical and practical aspects. There is a diversity of advanced elective courses for students to choose from to further study specific branches of statistics, such as statistical inference, probability modelling, stochastic processes, survey sampling methods, survival analysis, time-series modelling and Bayesian learning.
Decision Analytics students are trained with both rigorous statistical concepts and computational skills in data analytics. They are educated with problem-solving skills to provide optimized solutions to real life problems with big data.
Risk Management students are well equipped with quantitative analytical skills in statistical modelling and modern exposure in risk analysis. The curriculum is closely related to the content of various professional qualifications in investment, finance and risk management, allowing students to better prepare for these credentials before their graduation.
Statistics students with strong theoretical background in statistical analysis and research potential are ready to apply quantitative skills in diverse areas like medical study, social sciences, economics and others.
Professionals from Census and Statistics Department, Hospital Authority, various financial and education institutions etc. are the prestigious alumni of our Statistics programme.
Graduates from the Decision Analytics programme* are qualified to become a Graduate Statistician (GradStat) designated by the Royal Statistical Society (RSS) (link). Upon passing certain courses, graduates are also deemed to have met the academic requirements of the RSS Data Analyst award.
(* subject to approval)
Graduates from the Risk Management programme* are qualified to become a Graduate Statistician (GradStat) designated by the Royal Statistical Society (RSS) (link). Upon passing certain courses, graduates are also deemed to have met the academic requirements of the RSS Data Analyst award.
(* subject to approval)
In addition, the School will be applying for Professional Risk Managers' International Association (PRMIA) accreditation to further strengthen the programme’s comprehensiveness and competitiveness, allowing our graduates to get exemptions from the PRM exams.
Graduates from the Statistics programme are qualified to become a Graduate Statistician (GradStat) designated by the Royal Statistical Society (RSS) (link). Upon passing certain courses, graduates are also deemed to have met the academic requirements of the RSS Data Analyst award.
Graduates from the Decision Analytics programme will consider a career path as a data scientist, or pursue further studies in statistics or computer science. Their career prospects are not limited to the field of data analytics but also cover strategic planning, policy making and others.
Most of our Risk Management graduates will work in the financial industry with further professional qualifications, and end up in senior management positions after gaining years of experiences in risk analysis and training in investment, banking and financial institutions.
Those with entrepreneurship will also establish their start-up companies for risk consulting, financial services and related areas.
The statistical skills acquired by our Statistics graduates allow them to play a crucial role in many important job positions requiring quantitative mindset and analytical ability. Some of our graduates had worked in government bodies as Statisticians, Research Managers, as well as in the commercial sectors as Statistical Analysts, Marketing Associates, and Associate Officer (Business Intelligence).
Since our Statistics graduates are rigorously trained with knowledge and skills in different statistical areas, many of them also pursued further study, eventually entering the academia with a teaching and research career path.
