Malkhaz Shashiashvili, professor of Ivane Javakhishvili Tbilisi State University (TSU) visited ISET on Thursday, September 17th to present his recent paper "Discrete Time Hedging of the American Option" co-authored with S. Hussain, professor of Government College University. Since his talk contained very complicated mathematical methods, Prof. Shashiashvili started the presentation with giving definitions and key words, in order to make it accessible for a general audience.

In contrast to widespread opinion, the best hedging options require the option’s writer to trade continuously in time. Prof. Shashiashvili claimed that it is possible to construct the perfect portfolio for a discrete amount of time. The perfect hedging requires the knowledge of the partial derivative of the value function of the American option in the underlying asset, which is not explicitly known in most cases of practical importance.

ISET continues its Distinguished Professors Lecture Series in cooperation with Tbilisi State University (TSU). On Monday, June 1st, in this installment of the lecture series, ISET hosted Alexander Shengelaya, professor of TSU and University of Zurich. Prof. Shengelaya delivered a lecture titled “Amazing World of Superconductivity” accompanied with the actual experiment about superconductivity.
Prof. Shengelaya entered the conference room with a huge thermos in his hand that provoked curiosity among the audience. He started his presentation by reflecting on the development and generation of energy consumption over last century and future challenges of this sector.

On Thursday, May 21st, ISET hosted the Governor of the National Bank of Georgia (NBG), Mr. Giorgi Kadagidze, who delivered a profoundly informative seminar to the ISET Community and participants of the ISET Finance Course for Professionals.
Aside from discussing the local currency (GEL) depreciation, the most popular economic issue in Georgia, Mr. Kadagidze covered some important aspects of long-term development challenges of Georgian economy based on the accumulated experience of past development of the country. The main topic of the seminar was a general overview of macroeconomic considerations in Georgia and how to finance its development while capital markets are still at an infancy stage.

On Thursday, May 28th, at the request of the Office of the State Minister of Georgia for Diaspora Issues ISET hosted Liesl A. Riddle, associate professor of International Business and International Affaris at the George Washington University School of Business. Prof. Riddle gave a presentation titled “Diaspora Roles in Development around the World: Challenges, Opportunities & Models”.
Prof. Riddle talked about general issues related to diaspora. As explained, people leave their home countries for various reasons, such as escalating the political situation in the country, corruption, government changes, etc. The majority of migrants cross borders in search of better economic and social opportunities. Number of international emigrants doubled in 1975-2000 and reached 200 million worldwide. 1 in 10 persons in developed countries is a migrant.

On Monday, May 11th, Professor of Norwegian School of Economics (NHH) Dr. Mette Helene Bjørndal gave a public lecture at ISET conference hall. Prof. Bjørndal held the presentation titled “Insights into the Nordic Energy Market”. The main aspects of the presentation was to review structure, main characteristics of Nordic power market and peculiarities of its integration into other European electricity markets.

Prof. Bjørndal started her presentation by introducing some basic characteristics of power sectors of Scandinavian countries. She covered some issues of the market design, its components, and architecture. Prof. Bjørndal compared integrated and unbundled systems by providing examples and commented on how unbundling was done in Scandinavia.

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