In the Narrow Subject Areas, ITB secured the top position in Indonesia for 12 out of 14 fields. Some of these achievements include:

1. Architecture/Built Environment: Global rank #151-200, 1st rank in Indonesia
2. Art & Design: Global rank #101-150 or 1st in Indonesia
3. Engineering - Mineral & Mining: Global rank #51-100 or 1st in Indonesia
4. Engineering - Petroleum: Global rank #51-100 or 1st in Indonesia
5. Engineering - Mechanical, Aeronautical & Manufacturing: Global rank #151-200 or 1st in Indonesia
6. Engineering - Chemical: Global rank #301-350 or 1st in Indonesia
7. Engineering - Electrical & Electronic: Global rank #301-350 or 1st in Indonesia
8. Material Science: Global Rank #401-450 or 1st in Indonesia
9. Mathematics: Global rank #401-450 or 1st in Indonesia
10. Chemistry: Global rank #451-500 or 1st in Indonesia
11. Environment Sciences: Global Rank #501-550 or 1st in Indonesia
12. Physics & Astronomy: Peringkat global ke #501-550 or 1st in Indonesia

Additionally, Computer Science & Information Systems ranked 4th nationally, with a global rank of #551-660. And, for Business & Management Studies, ITB ranked 5th in Indonesia, with a global rank between #451-500.

ITB also showed excellence in the Broad Subject category, with the following global and national rankings:

These achievements reflect ITB’s constant improvement of its academic standard and its growing international recognition. With this accomplishment, ITB further strengthens its reputation as one of the best higher education institutions, not only in Indonesia but also across Asia and the world.

Translator: Senandung Shauma Bidadari (Management, 2026)

https://itb.ac.id/news/itb-ranks-among-top-global-universities-in-2025-qs-world-university-ranking-by-subject/62173

In this general lecture, Prof. Marta Sanz-Sole was invited to give a presentation on the "Modeling with Noise" topic. Professor Marta Sanz-Sole is a mathematics professor from Barcelona University (Spain) and one of the most distinguished mathematics figures in the world for her research in the stochastic field, especially on the Stochastic and Partial Differential Equation (SPDE). Along with active teaching, she also carries out various research and has published multiple mathematics journals.

Prof. Edy Tri Baskoro, the Head of MDLS 2022, said that Professor Marta Sanz-Sole is one of the mathematicians that has given a precious contribution to the field of mathematics. She has around 50 publications that are indexed by Scopus, a top scientific journal.

"In 2017, she was awarded the Real Sociedad Matemática Española Medal for her scientific contributions and position, in addition to being provided with a relevant international service by the Royal Spanish Mathematical Society (RSME). RSME is a Spanish scientific community that is dedicated to mathematics, which its objective, as what was written in its chapters, is to promote and spread mathematics and its applications in addition to promoting its research and education in every level of education," he added.

The lecture began with the history and the definition of the stochastic partial differential equation (SPDE) and its application in modeling. Then it was continued with a close explanation of SPDE expression, stochastic integral, and its random field solutions. Special problems on SPDE were also discussed.

In this webinar topic, she described PDE (Partial Differential Equation) as an equation that involves two unknown functions and is composed of two or more variables. In addition to having its root on the normal differential equation, this equation also has a definite partial derivative. "If you try to simulate a solution for this equation, the graphic profile will show a phenomenon in which the initial profile results will diffuse".

SPDE is one of the types of PDE that requires several new elements to the PDE equation: sample room and undefined external power/force. This equation is also characterized by its random initial conditions and limits to add the factor of chaos into it. Its numeric simulation also shows a 'diffusion' behavior.

"The invention of SPDE can be traced back to 1944-1946 when Kyoshi Ito published two journals on the differential equation and stochastic integration theory," Prof Martha added.

She said, "Ito discovered that the diffusion probability law is actually a probability law from some stochastic processes that are also the solutions of some equations," she explained. A simple version of SPDE can be found in Louis Bachelier (1900) and Paul Langevin (1908) works.

SPDE is very useful for different scale observations, from the microscopic level to the mesoscopic level. On the particulate approach, SPDE can be implemented into its case study modeling. An example of this is a tone that is played by a guitar during a sandstorm. According to Walsh (1986), guitar string is being bombarded by sand particles independently in different positions and times. Random fluctuating external forces are also present in this phenomenon, which are the guitar sounds themselves. With the wave equations and other factors that have been mentioned, SPDE-based modeling for this case can be designed. This modeling can also be applicated to mimic the potential electricity in the neuron as a neural response inside the human body.

With the SPDE simulation, data, properties, approximations, and behaviors, the solution as a whole can be determined. SPDE framework itself consists of every criterion, in which its solution covers path and density on the fixed points.

This MDLS has been held routinely by the Faculty of Mathematics and Natural Sciences ITB Mathematics Study Program since 2021. In 2021, MDLS was held four times and has invited various internationally distinguished mathematics scholars. The four scholars that were invited are Prof. Motoko Kotani (Japan), Prof. Christophe Ritzenhaler (France), Prof. Hans Munthe-Kaas (Norwegia), and Prof. Richard A. Brualdi (United States). This year MDL has been held three times, three scholars that have been invited are Prof. Martin Hairer (England), Prof. Edy Soewono (Indonesia), and in this third chapter, Prof. Marta Sanz-Sole.

This third chapter was attended by around 95 participants (lecturer, researcher, and bachelor, master, and doctoral students) from universities in Indonesia, the Philippines, Thailand, Spain, and several other countries. The MDLS 2022 record can be watched at https://www.youtube.com/c/MathematicsITB/videos. Further information on the next MDL chapters can be accessed at https://math.itb.ac.id/mdls/.

Reporter: Ruth Nathania (Environmental Engineering, 2019) and I Palton Anuwiksa (Faculty of Mathematics and Natural Sciences ITB Doctoral Student)
Translator: Favian Aldilla R (Civil Engineering, 2019)

https://itb.ac.id/news/mathematics-distinguished-lecture-series-2022-the-use-of-spde-equation-in-sound-modeling/58771

FMIPA ITB Professor, Prof. Edy Tri Baskoro, M.Sc., Ph.D., said, one of the objectives of this lecture series is to give new insight and perspective on the mathematical field to the wider audience, as well as develop and encourage the research ecosystem for the math-related subject, both on the national and regional scale.

ITB-MDLS was first held in 2021 and has invited many figures from various expertise and prominent campus such as Prof. Kotani (Tohoku U, Japan), Prof. Munthe Kaas (Bergen U, Norway), Prof. Ritzenthaler (Rennes 1, France), Prof. Brualdi (UW Madison, USA).
"ITB-MDLS 2022 will be opened by an online lecture from Prof. Sir Martin Hairer, Imperial College, London. He is the 2014 Fields Medal Laureate and the 2021 Mathematics Breakthrough Award Laureate," said Prof. Edy.

Fields Medal is one of the most prestigious awards in the mathematical field, it is the equivalent of the Nobel Prize in the physics, chemistry, medicine, or economic fields. The Fields Medal is awarded every four years to an outstanding mathematician who is younger than 40 years old and has made an impactful contribution to the mathematical field.

Prof. Hairer was awarded the Fields Medal in 2014 for his contribution in inventing new ways to investigate large-scale dynamic models, such as weather and the modern monetary system, using the uncertain probability method.

This dynamic probabilistic approach can solve a variety of complex problems that cannot be solved using the conventional deterministic approach. However, this method has its own irregularities.

The Regularity Structure theory that was introduced by Prof. Hairer provides mathematicians with a new perspective when dealing with the irregular dynamic problem. The Regularity Structure also propelled the advancement of the Stochastic Partial Differential Equations mathematical field by showing new directions where the theory can be applied essentially.

The Indonesian Minister of Education, Culture, Research and Technology, Nadiem Makarim, said in his speech that there are three fields in mathematics that are very important and need to be taught in every school, those are statistics, probability, and data science. Prof. Hairer's expertise and subject of research coincide exactly with these three branches of mathematics. This creates some relevance for us to take a deeper look at his publication.

"The topic of today's lecture by Prof. Hairer is not only intended for an evening discussion of scientist or mathematician, but also a means of propelling the advancement of scientific progress in this nation," explained Prof. Edy.

The 11 March 2022 ITB-MDLS lecture was held to commemorate the International Mathematics Day that falls on 14 March, which is also known as the International Pi Day.

Translator: Favian Aldilla R (Civil Engineering, 2019)

https://itb.ac.id/news/itb-mathematics-distinguished-lecture-series-2022-presented-a-field-medal-laureate/58459

The lecture featured Felix Go, an alumnus of ITB’s 2012 Mathematics major and a graduate of the Master of Mathematics (MMath) in Actuarial Science from the University of Waterloo in 2016. Felix is also a certified Fellow of the Casualty Actuarial Society (FCAS). He shared his experience as an actuary working abroad in Canada.

Felix emphasized the importance of internship experience for students, as many soft skills are not taught in the classroom. He explained that internships provide valuable trial-and-error opportunities and help guide career paths. “Interactions with your peers and your manager are just as important as the work you’re engaged in,” he said.

In addition to technical skills, Felix highlighted the crucial role of communication skills for actuaries. Many actuarial concepts are not widely known, so actuaries must be able to effectively convey these ideas to teams or other stakeholders. “Being able to communicate actuarial concepts to non-actuarial audiences in actuarial language is the most important skill,” he stated.

He advised ITB’s actuarial students, particularly those considering a career as an actuary, to explore fields outside actuarial science, such as Business Administration (MBA) or Computer Science, if they plan to continue their studies. For those aiming to enter the industry directly, he recommended graduating with strong academic results, obtaining certifications, and gaining as much internship experience as possible. 

Felix explained that some decisions are reversible, while others are irreversible. “If you make a decision and can reverse it, I think it’s fine to make mistakes, not like it, and then come back. But some decisions are irreversible; once you make them, they’re locked in, and you can’t go back,” he said.

Reporter: Indra Putra Lohanata (Aktuaria, 2021)

Translator: Atika Widya Nurfaizah (Postharvest Technology, 2021)

https://itb.ac.id/news/exploring-an-actuarial-career-in-canada-a-guest-lecture-at-itb/62184

The team consists of Laticia Jessie Laksana, Levynna Catalina Edison, and Yohana Yudiswara, who are from the 2021 Actuarial Science bachelor's study program.

The team from ITB participated in the Actuarial Case Competition category with the theme "Human-Centered Actuarial Approach for a Stable Future". In the preliminary stage, each team was asked to complete a case study that illustrates the number of child workers in Indonesia due to family economic demands.

Then, a donation activity was proposed to the families of child workers, while providing benefits to the donors. This is a significant step in the context of developing social welfare. Through this activity, donors will act as policyholders who pay premiums with the aim of providing insurance benefits to their families as well as the families of child workers.

This initiative is not just a proposal but also involves careful calculations of the financial reserves that need to be prepared by the company, including the amount of premium that must be paid by the policyholder.

In an effort to avoid heavy financial burdens, premiums for working child families are not borne by just one policyholder but are shared among at least 8 policyholders.

Apart from providing opportunities for the community to contribute through Corporate Social Responsibility (CSR), this initiative also reflects the company's commitment in achieving the 2030 Sustainable Development Goals (SDGs). Thus, this step not only provides concrete benefits to the families of child workers but also stimulates sustainable socio-economic growth.

“We found that Microinsurance (insurance companies) give premiums of one dollar per year to child workers but (get) a lot of benefits. It is said that Microinsurance reduces the number of child laborers, so we use it as an inspiration," said Laticia Jessie Laksana.

With this insurance initiative, the potential for children being forced to work can be reduced because there is no pressure to work to pay for their family's medical treatment in emergency situations. This allows children to focus on their education and helps improve family well-being.In the final stage of the competition, five teams managed to advance, including those from the University of Indonesia (UI), Padjadjaran University (Unpad), Brawijaya University (UB), and two teams from Institut Teknologi Bandung (ITB).

Teams that entered the final stage were required to make a presentation in front of juries who acted as investors from the insurance company. By using the courses that have been taught and independent learning, the ITB team was able to win third place and received an award.

Reporter: Indra Putra Lohanata (Actuarial Science, 2021)
Translator: Hanifa Juliana  (Urban and Regional Planning, 2020)
Editor: Kezia Hosana

https://itb.ac.id/news/providing-solutions-to-reduce-child-workers-through-insurance-products-itb-students-win-a-champion-at-logika-ui-2024/60520

An international conference recently took place, bringing together experts and researchers from around the world in the fields of optimization and financial mathematics. The conference was held in a hybrid format, with both in-person events at the Center for Research and Community Services (CRCS) Building and the Center for Advanced Sciences (CAS) Building, as well as online video meetings.

ICOFM 2023 aims to facilitate the exchange of research findings between Indonesian researchers and international experts in optimization methods and financial mathematics. In addition, the conference aims to enhance research networks and encourage academic publications by Indonesian researchers in the field of optimization and financial mathematics, both locally and globally. The ICOFM 2023 is expected to assist the creation of the Financial Mathematics Community.

Furthermore, the conference provided a platform to recognize the achievements of Prof. Dr. Kuntjoro Adji Sidarto, a prominent figure in the field of financial mathematics and optimization in Indonesia, who will be retiring in September 2023. Prof. Kuntjoro Adji Sidarto is widely recognized as a pioneer in the field of Financial Mathematics at ITB.

The ICOFM 2023 kicked off with a formal ceremony, featuring insightful presentations by experts in their respective fields. The conference showcased a lineup of distinguished speakers, including Prof. Dr. Kuntjoro Adji Sidarto from Institut Teknologi Bandung in Indonesia, Prof. Nicolas Privault from Nanyang Technological University in Singapore, Prof. Giorgio Consigli from Khalifa University in the United Arab Emirates, and Dr. Xin-She Yang from Middlesex University in the United Kingdom.

Furthermore, the event featured speakers from different countries, including Dr. Jinggong Zhang from Nanyang Business School, Nanyang Technological University in Singapore, Dr. Che Mohd Imran Che Taib from University Malaysia Terengganu in Malaysia, Dr. Xiaoping Lu from the School of Mathematics and Statistics at the University of Wollongong in Australia, Prof. Khreshna I.A. Syuhada from Institut Teknologi Bandung in Indonesia, and Felix Go, FCAS, AVP – North American Actuarial Group at Allied World in Canada.

The primary topics of discussion at ICOFM 2023 revolved around Mathematical Optimization and Financial Mathematics. Mathematical Optimization is all about choosing the most optimal elements from a variety of options, based on different criteria. However, Financial Mathematics is a practical discipline that involves using mathematical models in the world of finance. This pertains to quantitative finance, where statistical and numerical models, and eventually machine learning, are used in portfolio management instead of traditional fundamental analysis. Optimization methods play a vital role in portfolio management, ensuring optimal and efficient outcomes.

The conference organized the discussion topics into three main categories: Optimization, Financial Mathematics, and Actuarial Science. Here are some of the subcategories that are covered:

Optimization:

• Artificial intelligence
• Learning Algorithms
• Combinatorial Optimization and Mathematical Programming
• Numerical Methods
• Linear and Non-Linear Programming
• Multiobjective Programming
• Parallel and Distributed Computing
• Optimization Inspired by Nature and Neural Networks
• Fuzzy System
• Evolution Based Computation
• Hybrid Optimization Algorithm
• Dynamic Optimization
• Optimal Control

Finance Mathematics:

• Partial Differential Equation Approach in Finance
• Stochastic Analysis in Finance
• Monte Carlo Simulation
• Credit Risk, Jump Risk, and Liquidity Risk
• Risk management
• Portfolio Optimization
• Computational Finance
• Volatility Model
• Machine Learning in Finance

Actuarial Science:

• Life Insurance and Annuities
• Property and Accident Insurance
• Retirement and Retirement Planning
• Health

ICOFM 2023 aims to provide ITB with a valuable platform for sharing knowledge, experiences, and the latest research in the fields of optimization and financial mathematics. It also seeks to promote international collaboration in the pursuit of knowledge.

Reporter: Iko Sutrisko Prakasa Lay (Matematika, 2021)

Translator: Anggi Nurdiani (Manajemen, 2021)

Editor: Hanifa Juliana (Urban and Regional Planning, 2020)

https://itb.ac.id/news/itb-hosts-the-2023-international-conference-icofm-discussing-optimization-financial-mathematics-and-actuarial-science/59889

Variance is journal of The Casualty Actuaial Society in USA. Variance price award emphasized the scoring for the award based on the newest idea on the paper about insurance.

Along with Prof. Gary G. Venter, FCAS, ASA, MAAA , Dumaria proposed paper 'Robustifying Reserving'.  The paper presented an introduction of robust methods for loss reserving, and it compared reserving models for a development triangle based on the sensitivity of the reserve estimates to changes in individual data points.

"We did the research for long tail insurance such as for workers compensation," said Duma when was interviewed on Friday (27/01/12). In actuarial science, people learn to predict the finance risk on the future.

Progress of Actuarial Science in Indonesia

Dumaria was the first Indonesian people that got this award.  Dumaria said that she still has many dreams for progressing actuarial science in Indonesia.

"As a lecturer, all I can do is sharing everything I know about actuarial to my collegian," Duma said. Since government decided that an insurance company should have at least an actuary, the need of actuary was higher.

However, the number of actuary in Indonesia was not enough. "If the condition is not anticpated then many insurance company will invite actuary from other country to come to Indonesia and it's not good," said Duma.

Because of this problem, since 2008 Mathematics Major in ITB and Persatuan Aktuaris Indonesia worked together to increase the number of competent actuary in Indonesia, said Duma who will get award and present the paper on Phoenix, USA, this May.

https://itb.ac.id/news/lecturer-of-itb-achieved-variance-prize-award/3484