About us

Statistics at Hanken is specialized in economic statistics and econometrics. Areas of activity and strength include financial, applied and micro econometrics.

Statistics (including mathematics) is a key supporting subject for all business and economics students as well as business and economics professionals. Statistics is offered as a minor at Hanken, as a study module in the MSc programme in Finance in Helsinki, as a specialization in the PhD programme in Finance in Helsinki.

Some of the recent research/teaching activities pursued by the members of the subject (captured via images) are given below.

Simulation of 2500 observations from a new type of GARCH model. From ongoing research by Timo Teräsvirta, Niklas Ahlgren and Alexander Back (PhD candidate in Finance with Specialization in Statistics).



Histogram of trade durations for Apple on Nasdaq for 29.8.2016-29.8.2017. From ongoing research by Markus Belfrage and Gunnar Rosenqvist on Modelling Ultra-High Frequency Trade Durations with the ACD Model.



PCA-based and SOM-based (PCA=Principal Component Analysis, SOM=Self-Organizing Map) results obtained in software R. Input data: 50x7 matrix containing 50 sets of estimates (alphahat, betahat, shat, hhat, rhat, chat, IVOL) from the fit of Fama-French-5-factor model to daily returns of 50 randomly-selected S&P500 stocks between 01.01-31.12.2018. From Agnieszka Jach's course "Introduction to Mathematical Finance".

Clustering results obtained in software R for the states of the US based on the arrests per 100,000 residents for assault, murder, and rape and percent of the population living in urban areas, using hierarchical clustering (correlation-based distance and complete linkage). From Agnieszka Jach's course "Multivariate Data Analysis".


Log-likelihood function drawn in Python (run within Jupyter Notebook) for a sample of five iid observations from Poisson distribution with unknown parameter lambda (estimate of lambda is the value at which log-likelihood is maximized, ie, at lambda=10.2). From Agnieszka Jach's course "Mathematics for Economists".