brochure - Climate Studies | - IIT Bombay

95
0Âãدܯռ¯ÂØö VØÈ©ØÁÁ ¯Â ¼¯Áã ]ãç¯Ü 0¯ 0ÂÜã¯ãçã Ȩ dÂȼȩö ÈÁö

Transcript of brochure - Climate Studies | - IIT Bombay

0Âãدܯռ¯ÂØöVØÈ©ØÁÁ¯Â

¼¯Áã]ãç¯Ü

0¯Â0ÂÜã¯ãçãȨd­ÂȼȩöÈÁö

7KH ,QWHUGLVFLSOLQDU\3URJUDPPH LQ&OLPDWH6WXGLHV ,'3&6 >XQGHU WKHSURMHFW'67-&HQWUHRI([FHO

OHQFHLQ&OLPDWH6WXGLHV'67-&R(&6@ZDVLQLWLDWHGDWWKH,QGLDQ,QVWLWXWHRI7HFKQRORJ\,,7%RPED\

LQ-DQXDU\DVRQHRIWKHILUVWGRFWRUDOSURJUDPPHVLQ,QGLDDGGUHVVLQJUHVHDUFKUHODWHGWRFOLPDWH

FKDQJH&XUUHQWO\IDFXOW\SDUWLFLSDQWVGUDZQIURPGHSDUWPHQWVDFURVV,,7%RPED\DUHDVVRFLDWHG

ZLWK,'3&6ZKRLQFUHDVLQJO\DSSO\DGHSWKRIH[SHUWLVHLQWKHLUILHOGVWRDGGUHVVWKHFRPSOH[LW\RIFOL

PDWHFKDQJH7KH\DSSO\WKHLUH[SHUWLVHWRLQWHUGLVFLSOLQDU\SUREOHPVUHODWHGWRFOLPDWHWKDWFURVVWUDGL

WLRQDODFDGHPLFERXQGDULHV7KHLUFRQWULEXWLRQV LQFOXGH WUDGLWLRQDOFRUHFOLPDWHDQGHQYLURQPHQWDOVFL

HQFHV LQWHUGLVFLSOLQDU\ WHFKQRORJ\ GHYHORSPHQW FOLPDWH-HFRQRPLFV DQG VRFLDO VFLHQFHV 3K' VWX

GHQWVDQG3RVWGRFWRUDOUHVHDUFKHUVDUHFXUUHQWO\HQUROOHGDW,'3LQ&OLPDWH6WXGLHV

$VSDUWRI WKH1DWLRQDO$FWLRQ3ODQRQ&OLPDWH&KDQJH1$3&& WKH1DWLRQDO0LVVLRQRQ6WUDWHJLF

.QRZOHGJHIRU&OLPDWH&KDQJH106.&&LVRQHRIWKHHLJKWQDWLRQDOPLVVLRQVRQFOLPDWHFKDQJHFRRU

GLQDWHGE\WKH'HSDUWPHQWRI6FLHQFHDQG7HFKQRORJ\'67WKURXJKLWV&OLPDWH&KDQJH3URJUDPPH

6WUDWHJLF3URJUDPPHV/DUJH,QLWLDWLYHVDQG&RRUGLQDWHG$FWLRQ(QDEOHU63/,&('LYLVLRQUHQDPHGDV

&OLPDWH&KDQJH3URJUDPPH'LYLVLRQZHI 0DUFK 7KHEURDGREMHFWLYH RI106.&& LV WR

EXLOGDYLEUDQWDQGG\QDPLFNQRZOHGJHV\VWHPWKDWZRXOGLQIRUPDQGVXSSRUWQDWLRQDODFWLRQRQFOLPDWH

FKDQJHDQGVXVWDLQDEOHGHYHORSPHQW ,'3&6 ,,7%RPED\ZDV LQLWLDWHGDQGVXSSRUWHGE\'67XQGHU

WKH106.&&WRXQGHUWDNH LQWHUGLVFLSOLQDU\SUREOHP-GULYHQUHVHDUFK IRUHQG-WR-HQGVROXWLRQVFRYHULQJ

WKHFDXVHVDQGFRQVHTXHQFHVRIDQGUHVSRQVHVWRFOLPDWHFKDQJH7KHREMHFWLYHVDUHWREXLOGORQJ-WHUP

VFLHQWLILFFDSDFLW\IRUVWXG\LQJRIUHJLRQDOFOLPDWHFKDQJHDQGFOLPDWHIXWXUHVHQDEOLQJWKHFUHDWLRQRID

SRRORIPXOWLGLVFLSOLQDU\UHVHDUFKHUVWRVHUYHWKHJURZLQJQHHGVIRUFOLPDWHFKDQJHVFLHQWLVWVDQGSURIHV

VLRQDOVWRVHUYHWKH5'DQGSROLF\QHHGVLQSULYDWHSXEOLFDQGJRYHUQPHQWDOLQVWLWXWLRQV,'3&6KDV

VXFFHVVIXOO\ SURYLGHG FULWLFDO DVVHVVPHQWV WR VXSSRUW SROLF\ DQG JRYHUQPHQWDO GHFLVLRQ-PDNLQJ LQ DLU

DQGZDWHUUHVRXUFHVFOLPDWHPLWLJDWLRQDQGDGDSWDWLRQPHDVXUHV

MISSION :HVWULYHWRIRVWHUIXQGDPHQWDOXQGHUVWDQGLQJDQGSUREOHPFHQWUHGUHVHDUFKLQ

FOLPDWHVFLHQFHVROXWLRQVDQGSROLF\DFURVVORFDOUHJLRQDODQGJOREDOVFDOHV

RESEARCH FOCUS

RESEARCH HIGHLIGHTS

$(5262/ ,1)/8(1&(6 21 &/28' 3523(57,(6 $1' 5$,1)$// 352&(66(6 ,1 7+(6287+$6,$102162215(*,212%6(59$7,21$/$1'*&002'(//,1*678',(6

1LWLQ8PDNDQW3DWLO

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

6,08/$7,216 2) ,1',$1 6800(5 0216221 5$,1)$// :,7+ &25'(; 5(*,21$/02'(/6(9$/8$7,216$1'352-(&7,216

6ZDWL6LQJK

,QGLDQ VXPPHUPRQVRRQ UDLQIDOO ,605 FRQWULEXWHV DURXQG - RI WRWDO DQQXDO UDLQIDOO DQGVLJQLILFDQWO\ LPSDFWV ,QGLD WKURXJK ZDWHU DYDLODELOLW\ IRU YDULRXV VHFWRUV +RZHYHU WKH KLJKO\FRPSOH[ QDWXUHRI ,605 GXH WR GLIIHUHQW ORFDO DQG JOREDO SURFHVVHV PDNHV LW DQ H[WUHPHO\XQSUHGLFWDEOHFOLPDWHYDULDEOH

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

RESEARCH HIGHLIGHTS

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

,03$&72)/2&$/,=('$'$37,9(7+(50$/&20)25702'(/)251$785$//<

9(17,/$7('5(6,'(17,$/%8,/',1*21&/,0$7(&+$1*($&$6(2)080%$,,1',$

$QDQG$FKDUL

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

2FFXSDQWV DGDSWDWLRQ LV RIWHQ QRW FRQVLGHUHG E\ GHVLJQHUV ZKHUHDV UHVLGHQWV FRQVWDQWO\DGDSW WR WKHLU WKHUPDO HQYLURQPHQW FKDQJHV 7KHUH LV D QHHG WR XQGHUVWDQG WKLV GLYHUVHDGDSWDWLRQ LQUDSLGO\XUEDQL]LQJ,QGLD7KHUH LVDVKRUWDJHRIUHVHDUFKRQDGDSWLYHWKHUPDOFRPIRUWVWXGLHVRQQDWXUDOO\YHQWLODWHGUHVLGHQWLDOEXLOGLQJVLQ,QGLDQFRQWH[W$VPHFKDQLFDOFRROLQJDQG

RESEARCH HIGHLIGHTS

KHDWLQJV\VWHPVEHFRPHWKHODUJHVWHQHUJ\FRQVXPHULWLVLQGLVSHQVDEOHWRVWXG\WKHUPDOFRPIRUWLQYHQWLODWHGEXLOGLQJVLQWRGD\VFRQWH[W—HVSHFLDOO\ZKHUH WKHUH LVDQHQHUJ\FULVLV LQ ,QGLD DQGZRUOGZLGH$VPHFKDQLFDOFRROLQJDQGKHDWLQJV\VWHPVEHFRPHWKHODUJHVWHQHUJ\FRQVXPHULWLVLQGLVSHQVDEOH WR VWXG\ WKHUPDO FRPIRUW LQ QDWXUDOO\ YHQWLODWHG EXLOGLQJV LQ WRGD\V FRQWH[W—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

'5,9(562)$'$37$7,21,10$5,1(),6+,1*&20081,7,(6

.ULVKQD0DODNDU

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

8QGHUVWDQGLQJWKHVHIDFWRUVGULYLQJDGDSWDWLRQFDQEHYLWDOIRUGHVLJQLQJLQWHUYHQWLRQVWREXLOG

RESEARCH HIGHLIGHTS

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

'(9(/230(172)6&$/$%/(3$5$//(/$/*25,7+06)25$70263+(5($1'2&($102'(/,1*

0DQGDU*XUDY

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

5(*,21$/6&$/($1$/<6,62)&/,0$7(9$5,$%,/,7<$*5,&8/785$/ 98/1(5$%,/,7<$1'$'37$7,21)250$+$5$6+75$,1',$

'HHSLND6ZDPL

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

RESEARCH HIGHLIGHTS

2&($1 0,;,1* ,1 1257+(51 ,1',$1 2&($1 86,1* 02'8/$5 2&($1 02'(/ 020$1'7+(,5,03$&721&/,0$7(

0RXVXPL6DUNDU

6XE-VXUIDFH PL[LQJ G\QDPLFV DQG WKH LQWHUQDO VWUXFWXUH RI WKH RFHDQ DIIHFWV WKH VHD VXUIDFHWHPSHUDWXUH 667 VDOLQLW\ 666 DQG PL[LQJ OD\HU GHSWK 0/' ZKLFK KHOSV GHWHUPLQLQJ WKHZHDWKHU FRQGLWLRQ RYHU WKDW UHJLRQ 1HDU-VXUIDFH RFHDQ G\QDPLFV LV GRPLQDWHG E\ YDULRXVRFHDQ-DWPRVSKHULFSURFHVVHV+HQFHLWLVLPSRUWDQWWRDGRSWDUHJLRQDOPRGHOOLQJDSSURDFKWRUXQWKHRFHDQDVD VWDQG-DORQHPRGHOZLWK LQSXWV IURP WKHDWPRVSKHUH$ UHJLRQDO EDVLQ OLNH%D\RI%HQJDO %R% UHFHLYHV HQRUPRXV IHHGEDFN IURP WKH DWPRVSKHUH ZKLFK GHILQHV LWV VXUIDFHFRQGLWLRQVWKDWLQWXUQUHJXODWHVWKHZHDWKHUFRQGLWLRQRYHUWKH,QGLDQSHQLQVXOD+HUHDUHJLRQDOPRGHOOLQJDSSURDFKLVDGRSWHGXVLQJWKH0RGXODU2FHDQ0RGHOYHUVLRQZLWKWKH LPSOHPHQWDWLRQRI RSHQ ERXQGDU\ FRQGLWLRQ LQ %R% UHJLRQ 7KH GRPDLQ LV JLYHQ DQ LQLWLDO VWUDWLILFDWLRQ SURILOH RIFOLPDWRORJLFDO WHPSHUDWXUH DQG VDOLQLW\ DQG LV IRUFHG XVLQJ VHDVRQDOO\ YDU\LQJ ZLQG DQG DLU-VHDIOX[HVDWWKHVXUIDFH$VHQVLWLYLW\DQDO\VLV LVSHUIRUPHGE\FKDQJLQJWKHYHUWLFDOPL[LQJVFKHPHVQDPHO\.-SURILOH SDUDPHWHUL]DWLRQ .33 DQG N-?HSVLORQ WXUEXOHQFHPRGHO7KHPRGHO-JHQHUDWHGUHVXOWV VXJJHVW WKDW N-?HSVLORQ PRGHO SHUIRUPV VHHPLQJO\ EHWWHU WKDQ WKH .33 PRGHO :LWKN-?HSVLORQ PL[LQJ VFKHPH WKH VLPXODWHG VXUIDFH FXUUHQWV 667 666 DQG 0/' DUH FORVHU WRREVHUYDWLRQV 'LIIHUHQW UHSUHVHQWDWLRQV RI WXUEXOHQW NLQHWLF HQHUJ\ N DQG GLVVLSDWLRQ ?HSVLORQSURGXFHGLIIHUHQWN DQG?HSVLORQ LQ WKH WZRVFKHPHV7KH UHVXOWV VKRZ WKH LPSRUWDQFHRI UHJLRQDOPRGHOOLQJ DQG WKH XVH RI GLIIHUHQW PL[LQJ VFKHPHV (PSOR\LQJ D SK\VLFV-EDVHG YHUWLFDO PL[LQJVFKHPHVXFKDVWKHN-?HSVLORQWXUEXOHQFHPRGHOVKRZVLPSURYHPHQWLQWKHPRGHOSK\VLFVDQGWKHPRGHO-VLPXODWHGRFHDQSDUDPHWHUV

02'(//,1*&267$1'(0,66,2175$'(-2))6,17+(,1',$132:(56(&725

3DQNDM.XPDU

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

RESEARCH HIGHLIGHTS

$66(660(172)52$'75$163257(0,66,216$1'0,7,*$7,2132/,&,(6,1,1',$

1DPLWD6LQJK

9HKLFOHHPLVVLRQVDUHFRQVLGHUHGDQHVVHQWLDOFRQWULEXWRUWRJOREDOFDUERQGLR[LGHHPLVVLRQVDQGXUEDQDLU SROOXWLRQ ,Q ,QGLD WKH WUDQVSRUW VHFWRU LV WKH WKLUG-ODUJHVW &2 HPLWWLQJ VHFWRU ZLWK DVLJQLILFDQWFRQWULEXWLRQIURPURDGWUDQVSRUW7KHSROLFLHVLPSOHPHQWHGKDYHDORQJ-WHUPLPSDFWRQWKH DPRXQW DQG FKDUDFWHULVWLFV RI YHKLFOH HPLVVLRQV LQ ,QGLD 7KHUHIRUH TXDQWLILFDWLRQ RIHPLVVLRQV DW IUHTXHQW LQWHUYDOVLV UHTXLUHG WR DVVHVV ,QGLDV HPLVVLRQ OHYHOV DQG WKH HIIHFWV RIFRQWUROSROLFLHV

,Q WKHSUHVHQWVWXG\D WUDQVSDUHQWERWWRP-XSHPLVVLRQDQDO\VLV IUDPHZRUN LVGHYHORSHG IRU WKHURDGWUDQVSRUWVHFWRURI,QGLDZLWKXSGDWHGIOHHWFKDUDFWHULVWLFVFRUUHVSRQGLQJWRWKHYHKLFOHVDJHWRHVWLPDWHWKH UHIHUHQFH\HDUV IOHHWHPLVVLRQV &2&230DQG12[7KH UHIHUHQFH\HDU IOHHW RIYHKLFOHV LV SURMHFWHG WLOO WKH IXWXUH WDUJHW \HDU DQG YHKLFOH HPLVVLRQV DUHDQDO\]HG IRU GLIIHUHQWPLWLJDWLRQ SROLF\ VFHQDULRV 7KH VWRFN RI RQ-URDG YHKLFOHV LV FDVW XVLQJ DK\EULG DSSURDFK DQG WKHSURMHFWHG YHKLFOH SRSXODWLRQ LV FRPSDUHG ZLWK SDVW VWXGLHV RQ ,QGLD7KHHIIHFWLYHQHVVRI UHWURILW DQGVFUDSSDJHSROLFLHVDUHDQDO\]HG LQ UHGXFLQJYHKLFOHHPLVVLRQV7KH VWXG\ DOVR LQYHVWLJDWHV WKH UHODWLYH LPSDFW RI DQQXDO PRWRUL]DWLRQ HFRQRPLF JURZWK DQGXUEDQL]DWLRQ RQ URDG WUDQVSRUW &2 HPLVVLRQV LQ ,QGLD IURP WR XVLQJ /RJDULWKPLF0HDQ 'LYLVD ,QGH[ 7KH WKHVLV FRQWULEXWHV WR WKH OLWHUDWXUH E\ GHYHORSLQJ D WUDQVSDUHQWERWWRP-XS PRGHO WKDW SURYLGHV D GHWDLOHG UHSUHVHQWDWLRQ RI WKH ,QGLDQ IOHHW DQG HVWLPDWHVPXOWL-\HDUYHKLFOHHPLVVLRQLQYHQWRU\7KHIOHHWLVSURMHFWHGXVLQJGLIIHUHQWJURZWKPRGHOVK\EULGDSSURDFKDQGYHKLFOHHPLVVLRQVDUHDQDO\]HGXQGHUGLIIHUHQWSROLF\VFHQDULRV

RESEARCH HIGHLIGHTS

&/,0$7(&+$1*(,03$&7212&($1:$9(6$1'&2$67$/0253+2-'<1$0,&6

3L\DOL&KRZGKXU\

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

5$,1)$//)25(&$67,1*7+528*+5(*,21$/:($7+(502'(/,1*$35(&85625721($55($/7,0(85%$1)/22')25(&$67,1* 3UDWLPDQ3DWHO

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

$ 02'(/,1* 678'< 21 833(5 2&($1 352&(66(6 0,;,1* '<1$0,&6 $1' '((32&($1%,$6(6,17+(7523,&$/,1',$12&($1

6KLNKD6LQJK

&OLPDWHJHQHUDOFLUFXODWLRQPRGHOVDUHXVHGIRUIXWXUHSURMHFWLRQVEXWDUH OLPLWHGE\WKHLUELDVHV7KH KLVWRULFDO VLPXODWLRQV E\&0,3-PRGHOV WHQG WR KDYH VLJQLILFDQW ELDVHV LQ RFHDQLF YHUWLFDOVWUXFWXUH:HH[DPLQHWKHUROHRIWKLVELDVLQODUJHVFDOHWKHUPRFOLQHG\QDPLFVDQGLQWHU-DQQXDOYDULDELOLW\$OOWKHFDQGLGDWHPRGHOVKDYHDSRVLWLYHELDVLQWKHVSHHGRIILUVWEDURFOLQLFPRGH7KH

RESEARCH HIGHLIGHTS

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

0L[LQJ SDUDPHWHUL]DWLRQ FDQ EH PRGLILHG WR LPSURYH WKH UHSUHVHQWDWLRQ RI VPDOO VFDOHSURFHVVHV :H LPSOHPHQW D PRGLILHG SDUDPHWHUL]DWLRQ WR GLVWLQJXLVK WKH UHYHUVLEOH DQGLUUHYHUVLEOH IOX[HV LQ VWDEO\ VWUDWLILHG RFHDQ 7KH UHVXOWV IURP '16 DUH XVHG WR PRGLI\ WKHN-İVFKHPH 7KH PRGLILHG VFKHPH UHMHFWV WKH UHYHUVLEOH IOX[HV ZKLOH HVWLPDWLQJ GLIIXVLYLW\SURILOHV PDNLQJ WKH XSSHU-RFHDQ VWDEOHU DQG 0/' VKRDOHU 7KLV LPSOLHV WKDW WKH PRGLILHGVFKHPH LPSURYHV WKH UHSUHVHQWDWLRQ RI WXUEXOHQW IOX[HV LQ WKHPRGHO WKHUHE\ LPSURYLQJ WKHPRGHOVDFFXUDF\

7+(,1',$16800(50216221(;3/25,1*7+(52/(2)5,9(55812))

$QNXU6ULYDVWDYD

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

RESEARCH HIGHLIGHTS

$6(16,7,9,7<678'<2)9(57,&$/0,;,1*6&+(0(21685)$&(68%-685)$&(3523(57,(6(1(5*(7,&6,1%$<2)%(1*$/

6LGGHVK$VKRN7LURGNDU

7KH%D\RI%HQJDOLVDVPDOO,QGLDQ2FHDQEDVLQZLWKORFDOIHDWXUHVOLNHWRSRJUDSK\VHDVRQDOZLQG UHYHUVDOV DQG FKDQJHV LQ SUHFLSLWDWLRQ SDWWHUQV 7KH %D\ RI %HQJDO FRQWULEXWHVVLJQLILFDQWO\ WR IRUPLQJWKH ZHDWKHU SDWWHUQ RYHU WKH WURSLFDO UHJLRQ 7KH SUHVHQW VWXG\H[DPLQHV WKH HQHUJHWLFV DQG YHUWLFDO PL[LQJ VFKHPH VHQVLWLYLW\ WR WKH %D\ RI %HQJDO XVLQJ020

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

RESEARCH HIGHLIGHTS

)/22'0$1$*(0(17)25$185%$1&2$67$/&$7&+0(17,03/,&$7,216211($55($/-7,0(5,6.)25(&$67,1*$1'0$33,1*

0RXVXPL*KRVK

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

(0,66,216 6&(1$5,26 $1'08/7,3/( ,03$&76 $66(660(172) ,17(59(17,2167$5*(7,1*6+257-/,9('&/,0$7()25&(56,1,1',$

.XVKDO7LEUHZDO

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

RESEARCH HIGHLIGHTS

)RXUWK GHYHORSLQJDGHFLVLRQ VXSSRUW V\VWHP IRU WKH WUDQVODWLRQRI WKHHPLVVLRQ LQYHQWRU\ WRD*,6 SODWIRUP HQDEOHG TXHU\-EDVHG GHFLVLRQ PDNLQJ ,W ZLOOEH VXSSRUWHG E\ D GDWDEDVHPDQDJHPHQWSODWIRUPIRUIXWXUHXSGDWLQJRIWKHVWRFN

&/,0$7(&+$1*(85%$1)/22',1*$1'75$16)250$7,216,1080%$,

6ZDWL6KULQLZDV6KLQGH

7KHFLW\RI0XPEDL LQ ,QGLD LVKLJKO\VXVFHSWLEOH WRXUEDQIORRGLQJGXULQJ WKHDQQXDOPRQVRRQVHDVRQ 7KH XUEDQ SROLF\ DQG SODQQLQJPHFKDQLVPV LQ WKH FLW\ DUH QRW GHVLJQHG WR DGGUHVVWKHVHHQYLURQPHQWDOULVNV7KLVKDVOHGWRDQLQFUHDVHLQWKHSKHQRPHQRQRIORFDOL]HGIORRGLQJLQ WKHFLW\/LWHUDWXUHKDVVXJJHVWHG WKDWFOLPDWHFKDQJH LVH[SHFWHG WRIXUWKHUH[DFHUEDWH WKHIUHTXHQF\DQGLQWHQVLWLHVRIH[WUHPHUDLQIDOOHYHQWV

7KH PRVW DGYHUVHO\ DIIHFWHG DUH WKH LQIRUPDO VHWWOHPHQWV ORFDWHG FORVH WR ULYHUV FUHHNVGUDLQDJH OLQHV KLOOV DQGZDWHU ERGLHV7KH SRSXODWLRQ UHVLGLQJ LQ WKHVH VHWWOHPHQWV LV KLJKO\YXOQHUDEOH WR KHDOWK ULVNV ORVV RI VKHOWHU DQG OLYHOLKRRGV $OWKRXJK YDULRXV SROLFLHV DQGSODQQLQJPHDVXUHVZHUH WDNHQ E\ WKH JRYHUQPHQW WKH SUREOHP RI IORRGLQJ KDV FRQWLQXHG WRH[DFHUEDWHLQPDQ\ORFDWLRQV

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

RESEARCH HIGHLIGHTS

PHDVXUHVWDNHQE\FRPPXQLWLHVSROLWLFDOOHDGHUVDQGHPHUJHQWJURXSVWKDWVHUYHDVSRVLWLYHWLSSLQJSRLQWVIRUGHYHORSLQJDGDSWLYHPDQDJHPHQWRIIORRGV,WSURYLGHVDQLQ-GHSWKDQDO\VLVRIWKHQHWZRUNVFRQGLWLRQVVHWWLQJVSHUVSHFWLYHVQRUPDWLYHFRQFHUQVPRWLYDWLRQVDQGYDOXHV\VWHPVWKDWFDXVHGWKHVHLQWHUYHQWLRQVWRDULVHDORQJZLWKJDSVDQGEDUULHUV

5($/-7,0()/22'5,6.)25(&$67,1*$1'(9$&8$7,21

6KUDEDQL67ULSDWK\

7UDGLWLRQDOH[WUHPHUDLQIDOO IRUHFDVWVDWDVXIILFLHQW OHDG WLPHVWLOO VXIIHU IURPKLJKELDVKLJKXQFHUWDLQW\ ORZ KLW UDWHV DQG KLJK IDOVH DODUPV 7R RYHUFRPH WKHVH ZH KDYH SURSRVHG DPHWKRGRORJ\ WR JHQHUDWH H[WUHPH UDLQIDOO ZDUQLQJV EDVHG RQ KD]DUG ZKLFK LQFRUSRUDWHV LQIRUPDWLRQ DERXWIRUHFDVWHGUDLQIDOODVZHOODVHIILFLHQF\RIWKHPRGHO$WDZHDWKHUVFDOHZHGHILQH µKD]DUG¶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

RESEARCH HIGHLIGHTS

81'(567$1',1*237,&$/3523(57,(6$1'5$',$7,9(,03$&72)$0%,(17$(5262/6$1'$*5,&8/785$/5(6,'8(%851,1*(0,66,216

7DYHHQ6LQJK.DSRRU

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

RESEARCH HIGHLIGHTS

52/( 2) $(5262/ &/28' ,17(5$&7,216 $1' $(5262/ ,1'8&(' $70263+(5,&$'-8670(176,10(',$7,1*5$,1)$//352&(66(629(5,1',$

.DXVKLN0XGXFKXUX

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

RESEARCH HIGHLIGHTS

62&,2-(&2120,&$1'(&2/2*,&$/ ,03$&7 $66(660(172) 3URVRSLV -XOLIORUD ,1$5,'$1'6(0,-$5,'5(*,2162)*8-$5$7

.UXWLND7XQGLD

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

RESEARCH HIGHLIGHTS

6867$,1$%,/,7<,03$&7$66(660(172)5(1(:$%/((1(5*<6<67(06

0DWULND*KLPLUD\

,QGLD¶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

)(('%$&.)520'<1$0,&9(*(7$7,2172,1',$16800(50216221

6DFKLQ%XGDNRWL

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¶V FOLPDWH V\VWHP )URP WKH OLWHUDWXUH LW KDV EHHQ REVHUYHG WKDW WKH IHHGEDFN IURP WKHYDU\LQJYHJHWDWLRQWRWKHYDULDELOLW\RI,605LVQRWIXOO\XQGHUVWRRGWRWKHDGGUHVVWKHK\SRWKHVLVZH KDYH FRQVLGHUHG WKH UHJLRQDO FOLPDWHPRGHO LH ZHDWKHU UHVHDUFK IRUHFDVWPRGHO FRXSOHGZLWKWKHFRPPXQLW\ODQGVXUIDFHPRGHODORQJZLWKWKHLQIRUPDWLRQWKHRU\DSSURDFKWRXQGHUVWDQGWKHODQGDWPRVSKHUHIHHGEDFNRYHU,QGLDQFRQWLQHQW

02'(/,1* 7+( 6($621$/,7< 2) 685)$&( $1' 68%-685)$&( 352&(66(6 ,1 $5(*,21$/,1',$12&($186,1*02'8/$52&($102'(/

5DMHVK2&KDXKDQ

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

RESEARCH HIGHLIGHTS

5('8&,1*81&(57$,17,(6,17+((67,0$7,212)5($/-:25/'9(+,&8/$5)/((7(0,66,21)$&7252)&$5%21$&(286$(5262/6

6RKDQD'HEEDUPD

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

81'(567$1',1* 7+( %,23+<6,&$/ ,17(5$&7,216 ,1 7+( 7523,&$/ ,1',$12&($181'(5$&+$1*,1*&/,0$7(

$GLWL0RGL

0\ UHVHDUFK IRFXVHV RQ XQGHUVWDQGLQJ WKH ELRSK\VLFDO LQWHUDFWLRQV LQ WKH WURSLFDO RFHDQVSDUWLFXODUO\WKH,QGLDQ2FHDQ,QWKHZDNHRIWKLVXQSUHFHGHQWHGFOLPDWHFKDQJHLWLVFUXFLDOWRH[DPLQHWKHUHVSRQVHRIPDULQHSK\WRSODQNWRQ—ZKLFKLVDWWKHEDVHRIWKHPDULQHIRRGZHE—WRFOLPDWHFKDQJH$Q\FKDQJHLQWKHEORRPWLPLQJVDNDSKHQRORJ\RISK\WRSODQNWRQLVOLNHO\

RESEARCH HIGHLIGHTS

WRFUHDWHD³PDWFK-PLVPDWFK´ZLWKWKHKLJKHUWURSLFOHYHOVWKXVLPSDFWLQJWKHPDULQHHFRV\VWHP7KHUHIRUHDVSDUWRIP\3K',DPORRNLQJDWWKHVKLIWVLQWKHSKHQRORJ\LQWKH,QGLDQ2FHDQXQGHUWKHFXUUHQWFOLPDWHFKDQJHVFHQDULRDQGLWVXQGHUO\LQJGULYHUVXVLQJERWKWKHREVHUYDWLRQVVDWHOOLWHDQGLQ-VLWXDQGHDUWKV\VWHPPRGHOV

$66(660(172)&855(17*/$&,$//$.(287%8567)/22'*/2)+$=$5'$1'81'(5/<,1*62&,2-(&2120,&98/1(5$%,/,7< ,16(/(&7('/2&$7,216:,7+,1,1',$1+,0$/$<$15(*,21

'HEDVPLWD0DMXPGDU

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

RESEARCH HIGHLIGHTS

$66(66,1* 3$7+:$<6 )25 ,03529(0(176 ,1 ,521 $1' 67((/ 6(&725 )250((7,1*,1',$6&/,0$7(*2$/6

3UL\DP3UDVDPELW7ULSDWK\

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

&+$5$&7(5,=$7,21 2) *$6(6 $1' $(5262/6 (0,66,216 )520 7+( 121&22.,1*5(6,'(17,$/6(&72529(5,1',$

1DYLQ\D&KLPXUNDU

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

&$5%216(48(675$7,21327(17,$/2)*5((1(5,1',$

5LSDQ'DV

,QGLDLVWKHVHFRQG-KLJKHVWFRQWULEXWRUWRWKHSRVW-JOREDOJUHHQLQJ+RZHYHUZLWKVDWHOOLWHGDWDKHUHZHVKRZWKDW WKLVLQFUHDVHLQ/HDI$UHD,QGH[/$,GXULQJ-IDLOVWRWUDQVODWHLQWRLQFUHDVHGFDUERQXSWDNHGXHWRZDUPLQJFRQVWUDLQWV2XUDQDO\VLVIXUWKHU

RESEARCH HIGHLIGHTS

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

0$33,1* 62&,$/ 98/1(5$%,/,7< $1'5,6. 72 +<'52-&/,0$7,& (;75(0(629(5,1',$

$QRNKD6KLOLQ

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

(9$/8$7,21 2) %,$6 &255(&7,21 7(&+1,48(6 $1' 5('8&,1* 81&(57$,17< ,1($57+6<67(002'(/287387686,1*(0(5*(17&21675$,176

9LNUDP6LQJK&KDQGHO

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

RESEARCH HIGHLIGHTS

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

$775,%87,212)(;75(0()/22',1*(9(17672&/,0$7(&+$1*($75(*,21$/6&$/(

0DQLVK.XPDU'KDVPDQD

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

&2175,%87,2162)62,/9(*(7$7,21,17(5$&7,21672:$7(5&<&/(

6DPSHOOL$QRRS

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

RESEARCH HIGHLIGHTS

$66(660(17 2) 0$1*529( (&26<67(0 $1' ,1&(17,9(-%$6(' 0(&+$1,6067281'(567$1'7+(,552/(,1&/,0$7(0,7,*$7,21$1'$'$37$7,21$&$6(2)080%$,0(75232/,7$15(*,21

1DPDQ*XSWD

0DQJURYHV SURYLGH D ZLGH UDQJH RI HFRV\VWHP VHUYLFHV WR KXPDQ EHLQJV WKDW LQFOXGHSURYLVLRQLQJ VXFKDV IRRG DQG WLPEHU UHJXODWLQJ VXFK DV FOLPDWH UHJXODWLRQ SURWHFWLRQIURP IORRGV DQG VWRUP DQG FXOWXUDO VHUYLFHV VXFK DV HGXFDWLRQ WRXULVP DQG UHFUHDWLRQ'HVSLWH RI WKLV PDQJURYHV¶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

5(/,$%,/,7< 5(6,/,(1&( $1' 98/1(5$%,/,7< $66(660(17 2) 85%$1 :$7(56833/<6<67(0)253(5)250$1&((9$/8$7,21

$U\DODNVKPL0

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

RESEARCH HIGHLIGHTS

&/,0$7(&+$1*(,03$&7621)22'(1(5*<:$7(51(;86

$FKDQ\D/DNVKPDQDQ

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

'(&$5%21,=$7,21,17+(%8,/',1*6(&725

=LQLD.DU

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¶V FOLPDWH FKDQJHPLWLJDWLRQ SRWHQWLDO ZKHQ D FLUFXODU HFRQRP\ DSSURDFK LV DSSOLHG WR EXLOGLQJ PDWHULDOV DQGFRQVWUXFWLRQDQGGHPROLWLRQZDVWHVLQSDUWLFXODU

',6$67(55,6.),1$1&,1*,1,1',$

1DQGLQL6XUHVK

'XH WR FOLPDWH FKDQJH WKH HIIHFWV RI H[WUHPH HYHQWV H[SRVH FRPPXQLWLHV DQG ZKHQ KLJKO\YXOQHUDEOHZLOO OHDG WR GLVDVWHU DQG KDYH DGYHUVH HIIHFWV RQ WKH HFRQRP\ *RYHUQPHQWV DOORYHU WKHZRUOG DGRSWGLIIHUHQWPLWLJDWLRQ DQG DGDSWDWLRQ UHVSRQVHV IRU GLVDVWHUPDQDJHPHQWKRZHYHU WKLV LQFUHDVHV WKH UHTXLUHPHQW IRU ILQDQFLQJ GLVDVWHUV DV WKH KDSSHQLQJ RIFDWDVWURSKLFHYHQWVLVUDSLGO\DXJPHQWLQJ

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

RESEARCH HIGHLIGHTS

%HVLGHV WR ILQDQFH GLVDVWHUV WKHUH LV D QHHG IRU D FRPSUHKHQVLYH ULVN PDQDJHPHQWIUDPHZRUNZKLFK HQWDLOV SUHYHQWLRQ SUHSDUHGQHVV UHVSRQVH DQG UHFRYHU\ $JRYHUQPHQWVILUPVRUKRXVHKROGVSRWHQWLDOWRUHFRYHUIURPGLVDVWHUVGHSHQGVRQWKHILQDQFLQJWRROWKH\XVHEHIRUH DQGSRVW GLVDVWHUV OLWHUDWXUH KDV LGHQWLILHGPDQ\ GLVDVWHU ULVN UHGXFWLRQ UHWHQWLRQDQGWUDQVIHUDQGFDSLWDOPDUNHWLQVWUXPHQWVVXFKDVZHDWKHUGHULYDWLYHVFDW-ERQGVFDW-VZDSVDQGFDW-IXWXUHVGHSHQGLQJRQ WKH LQWHQVLW\DQGIUHTXHQF\RI WKHGLVDVWHUHYHQW+RZHYHUQRQHRIWKH JRYHUQPHQWV ILUPV RU KRXVHKROGV FRXOG IL[ RQH LQVWUXPHQW IRU GLVDVWHU UHFRYHU\ EXWUHTXLUHV D FRPELQDWLRQ RI WKHVH LQVWUXPHQWV 7KLV VWXG\ IRFXVHV RQ PDNLQJ D PRGHO IRULGHQWLI\LQJ WKHFRPELQDWLRQ RI LQVWUXPHQWV EDVHG RQ WKH LQWHQVLW\ DQG IUHTXHQF\ RI D GLVDVWHUHYHQW )LQDOO\ WKLV VWXG\ WULHV WR LGHQWLI\ KRZ WR HQWDLO WKH FDSLWDO PDUNHW LQVWUXPHQWV IRUHIILFLHQWZRUNLQJGLVDVWHUULVNUHGXFWLRQ

'(6$/,1$7,21$1'&/,0$7(&+$1*(

$LVZDU\D&/

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

RESEARCH HIGHLIGHTS

81'(567$1',1* 7+( 52/( 2) /$1' $1' $70263+(5,& &,5&8/$7,21 '85,1*6800(5+($7:$9(6,1,1',$

5RVKDQ-KD

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

/2:&$5%2132/,&<,1060(V,1,1',$

0DQVL*RHO

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

'<1$0,&)(('%$&.0(&+$1,60)5209(*(7$7,2172&/,0$7(

$MLQN\D.KDQGDUH

7KH IXQFWLRQ RI ODQG VXUIDFH SURFHVVHV LQ UHJXODWLQJ DQG LQIOXHQFLQJ FOLPDWH KDV UHPDLQHG DIDVFLQDWLQJWRSLF IRU UHVHDUFKHUV WR LQYHVWLJDWH /DQG FRPSRQHQWV OLNH VRLO PRLVWXUH DQGYHJHWDWLRQ LQ SDUWLFXODU KDYH G\QDPLF IHHGEDFN ZLWK WKH DWPRVSKHUH DQG WKH DWPRVSKHUHDOVRKDVFRQWURORYHUWKHVHYDULDEOHV7KHDVVRFLDWHGFKDQJHVLQWKHVHYDULDEOHVVKDSHDQG

RESEARCH HIGHLIGHTS

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

,03$&762)&/,0$7(&+$1*(217+(32:(56(&7252),1',$

5HVKPD6KLQGH

,W¶V VLJQLILFDQWO\ NQRZQ WKDW JUHHQKRXVH JDV HPLVVLRQV KDYH H[DFHUEDWHG WKH ULVN RI JOREDOZDUPLQJ DQG LQ WXUQ FOLPDWH FKDQJH 7KH FOLPDWH FKDQJH SKHQRPHQRQ KDV FRQVLGHUDEOHLPSDFWV RQ GLIIHUHQW VHFWRUV 7KH FRXQWU\¶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

RESEARCH HIGHLIGHTS

(&2120,&62)',6$67(5

'HYG\XWL%RVH

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

98/1(5$%,/,7<$1'$'$37$7,2172(;75(0(+($7,17(/(1*$1$

'HEGDWWD&KDNUDERUW\

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

$33/,&$7,21 2) /2: ,03$&7 '(9(/230(17 675$7(*,(6 )25 85%$1 )/22'0$1$*(0(17,17+(&217(;72)(0(5*,1*(;75(0((9(176

7XVKDU$UXQNXPDU%RVH

,QGLDLVIDVWXUEDQL]LQJ%HWZHHQDQG,QGLDZLOODGGPLOOLRQXUEDQGZHOOHUVPRUHWKDQDQ\RWKHUFRXQWU\ LQ WKLVSHULRG8UEDQL]DWLRQEULQJVFKDOOHQJHVIRUFLWLHV LQ WHUPVRIVWRUPZDWHUPDQDJHPHQWGXHWRWKHFKDQJHLQQDWXUDOK\GURORJ\LQDFLW\7KLVFKDOOHQJHLVIXUWKHUH[DFHUEDWHG E\ FOLPDWH FKDQJH $V SHU WKH VL[WK ,3&& DVVHVVPHQW UHSRUW WKH IUHTXHQF\ RI-\HDU IORRGV LV SURMHFWHG WRLQFUHDVHE\ WLPHV DQG WKH LQWHQVLW\ E\ DQGIRUIXWXUHJOREDOZDUPLQJOHYHOVRI&&DQG&UHVSHFWLYHO\7KLV

RESEARCH HIGHLIGHTS

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

0$,1675($0,1*$'$37$7,2135$&7,&(6$7)$50(5/(9(/,17232/,&<)5$0(:25.2)$66$0

.DYHUL*RJRL

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

RESEARCH HIGHLIGHTS

5(*,21$/ &523 68,7$%,/,7< 02'(//,1* 72:$5'6 6867$,1$%/( &5233,1* 6<67(06 81'(5&/,0$7( &+$1*($1' )8785(:$7(5 $9$,/$%,/,7<

3XMD7ULSDWK\

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

62,/02,6785((67,0$7,2186,1*+<3(55(62/87,21/$1'685)$&(02'(/

9LVKQX8.ULVKQDQ

6RLOPRLVWXUHLVDQLPSRUWDQWVWDWHYDULDEOHWKDWKDVKLJKYDULDELOLW\ERWK LQVSDFHDQGWLPH$VVXFK LW LVFKDOOHQJLQJ WR HVWLPDWH VRLO PRLVWXUH ZLWK JUHDWHU DFFXUDF\ DQG GHWDLO 2YHU WLPHPDQ\ VWXGLHV KDYHEHHQ GRQH WR LPSURYH WKH VRLOPRLVWXUH HVWLPDWLRQDQG WKLV LQYROYHV IURPSRLQW VFDOH WR ILHOG DQG UHJLRQDO VFDOH $V WKH PRLVWXUH OHYHO LQ WKH VRLO GHSHQGV RQ PDQ\SDUDPHWHUV DQG ODQG VXUIDFH SURFHVVHV WKHUH UHTXLUHV D WUDGH-RII EHWZHHQ DFFXUDF\ DQGFRPSXWHU HIILFLHQF\ 7KH ILQH-VFDOH VRLO PRLVWXUH HVWLPDWLRQ LV YHU\ FULWLFDO LQ IRUHFDVWLQJGURXJKWVDQGFDQEHYHU\KHOSIXOIRUIDUPHUV'RZQVFDOLQJWHFKQLTXHFDQJLYHVRLOPRLVWXUHDWILQH UHVROXWLRQ EXW LQ PDQ\ RI WKHVH PHWKRGV /60V GHSOR\HG GR QRW FRQVLGHU LQWHUDFWLRQEHWZHHQJULGVDWWKLVILQHVFDOH7KHVHLQWHUDFWLRQVDUHQHFHVVDU\FRQVLGHULQJWKHUHTXLUHPHQWIRUJHQHUDWLQJVRLOPRLVWXUHDWDIDUPVFDOH+HQFHDK\SHU UHVROXWLRQ/DQGVXUIDFH0RGHOKDVWREHGHYHORSHGDGGUHVVLQJWKHVSDWLDOKHWHURJHQHLW\DQGDOORZVLQWHUDFWLRQRIWKHODQGVXUIDFHZLWK FXUUHQW FOLPDWLF FRQGLWLRQV +HQFH VXFK D VWXG\ FDQ DGGUHVV WKH IROORZLQJ REMHFWLYHVD 'HYHORSLQJ D K\SHU UHVROXWLRQ /DQG 6XUIDFH 0RGHO VXLWDEOH WR ,QGLDQ FRQGLWLRQE (VWLPDWLQJ VRLO PRLVWXUH DW ILHOG VFDOH ZLWK EHWWHU DFFXUDF\ DQG GHWDLOLQJ F 'URXJKWIRUHFDVWLQJ DQG ILQGLQJ RXW LUULJDWLRQ UHTXLUHPHQW G &KDUDFWHUL]LQJ WKH GURXJKW XVLQJUHOLDELOLW\UHVLOLHQFHDQGYXOQHUDELOLW\VWXGLHV

98/1(5$%,/,7<$1'$'$37$7,2172&/,0$7(&+$1*(

0XKDPPHG5DVKLG

&OLPDWHFKDQJHLVRQHRIWKHJUHDWHVWGHYHORSPHQWFKDOOHQJHVIDFHGE\WKHSUHVHQWZRUOG$FFRUGLQJ WR,QWHUJRYHUQPHQWDO3DQHO RQ&OLPDWH&KDQJH LQ WKH XSFRPLQJ GHFDGH LWZLOO OLNHO\JDLQ PRUH PRPHQWXPDQG DGYHUVHO\ LPSDFW IRRG VHFXULW\ ZDWHU UHVRXUFHV DQG ELRGLYHUVLW\7KH SULPDU\ VWHS WRZDUGV DGDSWDWLRQ WR WKH XSFRPLQJ FOLPDWH FKDQJH LV WR PLQLPL]HYXOQHUDELOLW\DQGH[SRVXUHWRFXUUHQWFOLPDWHFKDQJHDQGYDULDELOLW\2YHUWKHSDVWVHYHUDO

RESEARCH HIGHLIGHTS

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

+,0$/$<$1*/$&,(5(92/87,2181'(5&/,0$7(&+$1*(6&(1$5,2

6D\DQWDQ0DQGDO

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

RESEARCH HIGHLIGHTS

5,6. $66(660(17 $1' 35(',&7,21 2) $*5,&8/785$/ '528*+76 81'(5&+$1*,1*&/,0$7(

*DXUDY*DQMLU

5LVN$VVHVVPHQWDQG3UHGLFWLRQ IRU0DQDJLQJ$JULFXOWXUDO'URXJKWVDQG:DWHU6FDUFLW\ XQGHU&KDQJLQJ&OLPDWH 7KH ZRUN DLPV DW GHYHORSLQJ FRPSUHKHQVLYH FRPELQHG GURXJKW LQGH[ IRUPRQLWRULQJ WKH GURXJKWV LQ ,QGLD 'HYHORSLQJ ILQHU UHVROXWLRQ FRPSUHKHQVLYH GURXJKW ULVNYXOQHUDELOLW\ PDSV IRU GURXJKWSURQH UHJLRQV LQ ,QGLD 6WUDWHJLHV DQG LPSURYHG SROLFLHV IRUPDQDJLQJWKHGURXJKWVDQGZDWHUVFDUFLW\LQWKHGURXJKWSURQHUHJLRQV

'(9(/23,1* +(7(526758&785( 3/$6021,& 3+272&$7$/<676 )25 &25('8&7,21,1729$/8(-$''(')8(/6*5((1+<'52*(1352'8&7,21%<+$51(66,1*62/$5(1(5*<

7DQQX

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

52/(2)/2&$/,167,787,216$1'&/,0$7(&+$1*($'$37$7,21

&KDQWKLQJOD+RUDP

7RVWXG\IDUPHUV¶SHUFHSWLRQRIFOLPDWHYDULDELOLW\DQGLW¶VLPSDFWRQDJULFXOWXUHDQGOLYHOLKRRGLQ8NKUXO DQG .DPMRQJ GLVWULFWV RI 0DQLSXU 7KLV LQFOXGHV XQGHUVWDQGLQJ WKH DGDSWLYH GHFLVLRQVDQG DGDSWLYH FDSDFLW\ RI WKH IDUPLQJ FRPPXQLW\ ,W DOVR HQFDSVXODWHV DQDO\VLV RI H[LVWLQJLQVWLWXWLRQDOVHWXSWKURXJKLQVWLWXWLRQDOPDSSLQJDQGFURVV-VHFWRUDODQDO\VLVRIFOLPDWHVHQVLWLYHVHFWRUV 7KH VWXG\ IXUWKHU IRFXVHVRQ WKH LQGHSWK VWXG\RI WKHDSH[ ORFDO LQVWLWXWLRQNQRZQDVWKH9LOODJH$XWKRULW\ 9$RI7DQJNKXO WULEHDQGWKHLU UROH LQQDWXUDOUHVRXUFHPDQDJHPHQWDQGFOLPDWHFKDQJHDGDSWDWLRQ

RESEARCH HIGHLIGHTS

&2-(25$6&&86,1'(3/(7('2,/5(6(592,56

*DXUDY.XPDU0LVKUD

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

,1)/8(1&(2)$17+5232*(1,&(0,66,216(&7256$1'25*$1,&$(5262/)250$7,21 0(&+$1,606 21 $(5262/ $%81'$1&( $1' 5$',$7,9( )25&,1* 29(5,1',$

6XMLW0DML

7KH REMHFWLYH RI WKH UHVHDUFK LV WR VWXG\ WKH HIIHFW RI DQWKURSRJHQLF HPLVVLRQ VHFWRUV DQGRUJDQLF DHURVRO IRUPDWLRQ PHFKDQLVPVLQ DHURVRO DEXQGDQFH DQG DHURVROUDGLDWLYH IRUFLQJ $QWKURSRJHQLFHPLVVLRQVVHFWRUVLQIOXHQFH WKH W\SHRIDHURVROHPLWWHGDQGDVVRFLDWHGUDGLDWLYHHIIHFWSRVLWLYHRUQHJDWLYH2UJDQLFDHURVRO IRUPDWLRQ PHFKDQLVPV DUH XQGHU-UHSUHVHQWHG DQG XQGHUHVWLPDWHG LQ FXUUHQWSURFHVV-EDVHGQXPHULFDWPRVSKHULFDQGFOLPDWHPRGHOV

%HWWHUVLPXODWLRQRIRUJDQLFDHURVROVZLOOLPSURYH WKH DHURVRODEXQGDQFH DQG DVVRFLDWHGQHJDWLYHUDGLDWLYHIRUFLQJ

3ULQFLSDO,QYHVWLJDWRU3URI6XEKDQNDU.DUPDNDU

&R-3ULQFLSDO,QYHVWLJDWRUV

3URI&KDQGUD9HQNDWDUDPDQ

3URI6XELPDO*KRVK

3URI7UXSWL0LVKUD

7RWDOSURMHFWFRVWൠ0LOOLRQ

'XUDWLRQ\HDUV-

6WDWXV21*2,1*

$VSDUWRIWKH1DWLRQDO$FWLRQ3ODQRQ&OLPDWH&KDQJH1$3&&WKH1DWLRQDO0LVVLRQRQ

6WUDWHJLF.QRZOHGJHIRU&OLPDWH&KDQJH106.&&LVRQHRIWKHHLJKWQDWLRQDOPLVVLRQV

RQ FOLPDWH FKDQJH FRRUGLQDWHG E\ 'HSDUWPHQW RI 6FLHQFH DQG 7HFKQRORJ\ '67

WKURXJK LWV &OLPDWH &KDQJH 3URJUDPPH 6WUDWHJLF 3URJUDPPHV /DUJH ,QLWLDWLYHV DQG

&RRUGLQDWHG $FWLRQ (QDEOHU 63/,&( 'LYLVLRQ 7KH EURDG REMHFWLYH RI 106.&& LV WR

EXLOG D YLEUDQW DQGG\QDPLF NQRZOHGJHV\VWHP WKDWZRXOG LQIRUPDQG VXSSRUW QDWLRQDO

DFWLRQRQFOLPDWHFKDQJHDQGVXVWDLQDEOHGHYHORSPHQW7KHµ'67-&HQWUHRI([FHOOHQFH

LQ&OLPDWH6WXGLHV'67-&R(&6¶DW,,7%RPED\ZDVWKXVLQLWLDWHGLQ-DQXDU\ZLWK

JHQHURXVVXSSRUW IURP'67XQGHU WKH106.&&3KDVH-,RI'67-&R(&6 ,,7%RPED\

KDGDVXFFHVVIXO UXQ IURP-ZKLFKFXOPLQDWHG LQWRDURXQGSHHU-UHYLHZHG

UHVHDUFKSXEOLFDWLRQVDQGFRQIHUHQFHSURFHHGLQJV3KDVH-,,RI'67-&R(&6,,7%RPED\

LVFXUUHQWO\RQJRLQJ

3KDVH-,RI'67-&R(&6,,7%RPED\ZLWKWRWDOSURMHFWFRVW5VPLOOLRQUDQVXF

FHVVIXOO\IURPWRXQGHUWKHVXSHUYLVLRQRI3URI&KDQGUD9HQNDWUDPDQ

)RXQGHU&RQYHQHU,'3&6DQG3URIV6XELPDO*KRVK'3DUWKDVDUDWK\

Department of Science and Technology spon-sored Centre of Excellence in Climate Studies

RESEARCH INITIATIVES

'67&R(&6%URDGDUHDVDQG6XE-DUHDV ¨ &OLPDWH&KDQJH6FLHQFHZHDWKHUDQGFOLPDWHPRGHOLQJ

¨ &OLPDWH &KDQJH $GDSWDWLRQ VHFWRUDO LPSDFWV RQ :DWHU 5HVRXUFHVLQFOXGLQJ*ODFLHUV$JULFXOWXUH6RFLDO-(FRQRPLF9XOQHUDELOLW\DQG/LYHOLKRRG

¨ $Q\2WKHUDUHDUHOHYDQW WR&OLPDWH&KDQJH:DWHU-)RRG-(QHUJ\QH[XV(IIHFWRIDHURVROV

'67-&R(&6SURMHFW3KDVH-,,-RQJRLQJ

RESEARCH INITIATIVES

7KH 0LQLVWU\ RI (QYLURQPHQW )RUHVW DQG &OLPDWH &KDQJH 0R()&& ODXQFKHG WKH

µ&DUERQDFHRXV $HURVRO (PLVVLRQV 6RXUFH $SSRUWLRQPHQW DQG &OLPDWH ,P

SDFWV¶ &2$/(6&( QHWZRUN XQGHU WKH 1DWLRQDO &DUERQDFHRXV $HURVROV 3URJUDPPH

1&$3&OLPDWHFKDQJHDQGDLUSROOXWLRQKDYHLPSRUWDQWVRFLHWDOFRQVHTXHQFHVHVSHFLDO

O\LQHPHUJLQJHFRQRPLHVZKHUHLQWUDQVLWLRQVIURPSROOXWLQJWHFKQRORJLHVWRFOHDQHUDOWHU

QDWLYHV FRLQFLGH ZLWK KLJK SRSXODWLRQ YXOQHUDELOLW\ WR HQYLURQPHQWDO WKUHDWV 7KH 3DULV

$JUHHPHQWRQ&OLPDWH&KDQJHZKLFKFDPHLQWRIRUFHLQ1RYHPEHUIROORZLQJUDWLILFD

WLRQE\RYHUZRUOGQDWLRQVDLPVIRUDJOREDOUHVSRQVHWROLPLWJOREDOPHDQWHPSHUDWXUH

LQFUHDVHVDERYHSUHLQGXVWULDOOHYHOVWRZHOOEHORZ&E\ZKLOHSXUVXLQJHIIRUWVWRIXU

WKHU OLPLW WKH LQFUHDVH WREHORZ&8QLWHG1DWLRQV)UDPHZRUN&RQYHQWLRQRQ&OLPDWH

&KDQJH81)&&&5HFHQWHYLGHQFHVXJJHVWVWKDWXQGHUHPLVVLRQVFRQVLVWHQWZLWK

FXUUHQW1DWLRQDOO\'HWHUPLQHG&RQWULEXWLRQ1'&SOHGJHVJOREDOZDUPLQJFRXOGVXUSDVV

WKH&WDUJHW,3&&7KXVLW LVQHFHVVDU\WRH[SDQGWKHIRFXVRIFOLPDWHDFWLRQ

IURPDJUHHQKRXVHJDV*+*-RQO\OHQVWRLQFOXGHDJHQWVWKDWSURYLGHSRWHQWLDOEHQHILWVWR

ERWKFOLPDWHDQGVXVWDLQDEOHGHYHORSPHQW6KRUW-OLYHGFOLPDWHSROOXWDQWV6/&3VH[HUWD

ZDUPLQJLQIOXHQFHRQFOLPDWHDQGLQFOXGHSDUWLFXODWHEODFNFDUERQ%&JDVHRXVPHWKDQH

&+DQGWURSRVSKHULFR]RQH2DQGVRPHK\GURIOXRURFDUERQV

6SHFLILFWR,QGLDZDUPLQJ6/&3HPLVVLRQVDULVHIURPVHFWRUVDQGHFRQRPLFDFWLYLWLHVXQ

UHODWHGWRWKRVHJRYHUQLQJ*+*HPLVVLRQV9HQNDWDUDPDQHWDOWKXVPRWLYDWLQJDG

GLWLRQDODQGGLVWLQFWDWWHQWLRQWR6/&3VLQFOXGLQJFDUERQDFHRXVDHURVROV

:LWKDQDLPWRDGGUHVVWKHVHFRQFHUQVWKH1&$3-&2$/(6&(QHWZRUNZDVODXQFKHGRQ

-XO\7KHQHWZRUNLVJHQHUDWLQJIXQGDPHQWDONQRZOHGJHWRDGGUHVVLPSRUWDQWJDSV

WKDW UHPDLQ LQ XQGHUVWDQGLQJ KXPDQ DFWLYLWLHV LQIOXHQFLQJ HPLVVLRQV HPLVVLRQ DHURVRO

SURSHUWLHVDQGUHJLRQDODWPRVSKHULFSURFHVVHVVSHFLILFDOO\WKRVHUHODWHGWRFDUERQDFHRXV

DHURVRO LPSDFWV RQ FOLPDWH DQG DLU TXDOLW\ 7KH QHWZRUN DGRSWV LQWHJUDWLRQ RI VFLHQWLILF

PHWKRGVGHYHORSHGE\ERWKWKHFOLPDWHDQGDLUTXDOLW\UHVHDUFKFRPPXQLWLHV7KHQHWZRUN

DLPV WREXLOG D6/&3HPLVVLRQVEDVHOLQH IRU ,QGLD DQG PDNH OLQNV WR ,QGLD¶V SROLF\

IUDPHZRUNWRHQDEOHEURDGFOLPDWHDQGFOHDQ-DLUDFWLRQLQWKHUHJLRQ

RESEARCH INITIATIVES

1DWLRQDO&DUERQDFHRXV$HURVROV3URJUDP-7KH&DUERQDFHRXV$HURVRO(PLVVLRQ6RXUFH$SSRUWLRQPHQWDQG&OLPDWH,PSDFWV

QHWZRUN1&$3-&2$/(6&(

7KHSURMHFWPDQDJHPHQW LVRUJDQL]HGDURXQGD WKUHH-WLHUVWUXFWXUH LQYROYLQJ LQVWLWXWLRQV

7KLVLQFOXGHV3URI&KDQGUD9HQNDWDUDPDQ1DWLRQDO3URMHFW&R-RUGLQDWRU$VVRFLDWHLQVWL

WXWLRQVDQG ILHOG UHVHDUFK LQVWLWXWLRQV$PXOWL-SURQJHGDSSURDFKZLOO EHDGRSWHG WRZDUGV

EXLOGLQJ VFLHQWLILF FDSDFLW\ DVZHOO DV FUHDWLRQ RI LQIUDVWUXFWXUHDQG V\VWHPV IRUPHDVXUH

PHQWVDQGPRGHOOLQJDWSDUWLFLSDWLQJLQVWLWXWLRQV,WLVDPXOWL-LQVWLWXWLRQDOFRRUGLQDWHGSURMHFW

ZLWKWKHIROORZLQJJRDOV

¨ 7RXQGHUVWDQGWKHVRXUFHVIDWHDQGLPSDFWVRIFDUERQD

FHRXVDHURVROVRQFOLPDWHDQG

DLUTXDOLW\LQWKH,QGLDQUHJLRQ

WKURXJKLQWHUGLVFLSOLQDU\UH

VHDUFK

¨ 7RUHGXFHXQFHUWDLQWLHVLQRXUXQGHUVWDQGLQJRIWKHLPSDFWVRI

FDUERQDFHRXVDHURVROVRQUH

JLRQDOVFDOHVRYHU,QGLD

WKURXJKDGRSWLRQRIUREXVW

PHWKRGRORJLHV

¨ 7RLQIRUPVFLHQWLILFFRPPXQL

WLHVSROLF\PDNHUVDQGWKH

SXEOLFUHJDUGLQJFDUERQDFHRXV

DHURVROLQIOXHQFHRQFOLPDWH

FKDQJHDQGFOLPDWHVWUHVVHV

DQGWKHLULPSOLFDWLRQV

¨ 7RSURPRWHWUDLQLQJDQGOHDUQ

LQJDERXWDVSHFWVRIDHURVRO

PHDVXUHPHQWDQGPRGHOOLQJ

WKURXJKZRUNVKRSVRQUHVHDUFK

PHWKRGV

¨ 0RUHGHWDLOVFDQEHIRXQGDWKWWSVQFDSFRDOHVFHLLWEDFLQ

RESEARCH INITIATIVES

·8QGHUVWDQGLQJUHFHQWH[WUHPHHYHQWVLQ,QGLDLQWKHFRQWH[WRIFOLPDWHFKDQJH_)XQG

HGE\'67-8.,(5,_*UDQWDPRXQWODNKV_'XUDWLRQ-

·0HVR-VFDOHVXEVXUIDFHPL[LQJG\QDPLFVLQWKH,QGLDQ2FHDQUHJLRQXVLQJ0RGXODU

2FHDQ0RGHO020_)XQGHGE\'67_*UDQWDPRXQWODNKV_'XUDWLRQ-

·([WHQGHG5DQJH+\GUR-PHWHRURORJLFDO)RUHFDVWVIRU:HVW%HQJDODWD'LVWULFW/HYHO_

)XQGHGE\'HSWRI(QYLURQPHQW*RYWRI:HVW%HQJDO_*UDQWDPRXQWODNKV_'X

UDWLRQ-

·7UDQVIRUPDWLRQDV3UD[LV([SORULQJ6RFLDOO\-XVWDQG7UDQVGLVFLSOLQDU\3DWKZD\VWR

6XVWDLQDELOLW\LQ0DUJLQDO(QYLURQPHQWV_)XQGHGE\%(/0217)RUXP1HWKHUODQGV_

*UDQWDPRXQW&URUH_'XUDWLRQ-

·&RDVWDO7UDQVIRUPDWLRQDQG)LVKHU:HOOEHLQJ_)XQGHGE\(8-,QGLD3ODWIRUPIRU6R

FLDO6FLHQFHVDQG+XPDQLWLHV_*UDQWDPRXQW5VODNKV

·$V\VWHPDWLFODUJH-VFDOHDVVHVVPHQWIRUSRWHQWLDORI&2HQKDQFHGRLODQGQDWXUDO

JDVUHFRYHU\LQNH\VHGLPHQWDU\EDVLQVLQ,QGLD_)XQGHGE\'67_*UDQWDPRXQW5V

&U

·6WDWH$FWLRQ3ODQRQ&OLPDWH&KDQJH6$3&&)RU5DMDVWKDQ_)XQGHGE\'HSWRI

(QYLURQPHQW*RYWRI5DMDVWKDQ_*UDQW$PRXQW5V&U

·6WXG\WRDVVHVVWKHDFTXLVLWLRQRIDFFXUDWHUHOHYDQWFOLPDWHLQIRUPDWLRQE\,QGLDQ

&LWLHV6WDWHV'HYHORSPHQWDQGSLORWLQJRI1HZVOHWWHU-_)XQGHGE\,QWHUQD

WLRQDO8UEDQ&RRSHUDWLRQ(XURSHDQ8QLRQ_*UDQW$PRXQW5V/DNKV

·1DWLRQDO&HQWUHRI([FHOOHQFHLQ&DUERQ&DSWXUHDQG8WLOL]DWLRQ_)XQGHGE\'HSDUW

PHQWRI6FLHQFHDQG7HFKQRORJ\'670LQLVWU\RI6FLHQFHDQG7HFKQRORJ\*RYWRI

,QGLD_*UDQW$PRXQW5V&U_'XUDWLRQ\HDUV

OTHER RESEARCH INITIATIVES

+LJK 3HUIRUPDQFH &RPSXWLQJ

&OXVWHU

'HGLFDWHGGDWD-VHUYHUZLWKFRPSXWHUFOXV

WHU 0DVWHU 1RGHV- ,2 1RGHV- 2QH

6WRUDJH&RQWUROOHU- &RPSXWH 1RGHV-

FOXVWHUFRPSLOHUVDQGVRIWZDUH

0RGHOOLQJVRIWZDUH

0RGHOOLQJ SODWIRUPV - (&+$0-+$0

:5) 0,.()/22' 606 6:$7 0,.(

%:0$5,1(67$TXD0RGHOOLQJ6\V

WHP8UEDZLQG&0DS$VVHVVPHQW WRROV-

$VSHQ3OXV1ORJLW19,927,0(6-9('$

'DWD KDQGOLQJYLVXDOL]DWLRQ -)(55(7

*U$'6 6LJPD3ORW &'2 1&2 1&/

;PJUDFH3\WKRQ0DWKHPDWLFDOVWDWLVWLFDO-

50DWODE*HRVSDWLDOPRGHOOLQJ-$UF*,6

RESEARCH FACILITIES

DŝĐƌŽǁĂǀĞZĂĚŝŽŵĞƚĞƌ

ŽŵƉƵƚĞƌůƵƐƚĞƌ

(TXLSPHQW

0LFURZDYH 5DGLRPHWHU

&3&0XOWLJDV$Q

DO\VHU 30 0LQL 9RO

6DPSOHU1$6

3DUWLFOHDQG$HURVRO5HVHDUFK/DERUDWRU\3($5/

$LUDQG1RLVH([SRVXUH5HVHDUFK*URXS$1(5*/DE

RESEARCH FACILITIES

ŽŶĚĞŶƐĂƟŽŶƉĂƌƟĐůĞĐŽƵŶƚĞƌ;WͿ

'ƌĂLJtŽůĨŵƵůƟŐĂƐĂŶĂůLJnjĞƌ

DŝŶŝsŽůWDϮϱƐĂŵƉůĞƌ

ĞƚŚĂůŽŵĞƚĞƌ

EĞƉŚĞůŽŵĞƚĞƌ ĞƚŚĂůŽŵĞƚĞƌĂŶĚEĞƉŚůŽŵĞƚĞƌŝŶƐŽƵƌĐĞƐĂŵƉůŝŶŐƚƌĂŝů

3DUWLFOHDQG$HURVRO5HVHDUFK/DERUDWRU\3($5/

$LUDQG1RLVH([SRVXUH5HVHDUFK*URXS$1(5*/DE

RESEARCH FACILITIES

/ŶĚƵĐƟǀĞůLJŽƵƉůĞĚWůĂƐŵĂKƉƟĐĂůŵŝƐƐŝŽŶ^ƉĞĐƚƌŽŵĞƚƌLJ;/W-K^Ϳ

ŝŽŶĞdžƋƵŝŽŶ/ŽŶŚƌŽŵĂƚŽŐƌĂƉŚLJ;/Ϳ^LJƐƚĞŵ

^ĂƌƚŽƌŝƵƐƵďŝƐŵŝĐƌŽ-ďĂůĂŶĐĞ;D^hϲϲ^ϬϬϬ-&Ϳ^ƚĂƚ-WĞŶŝŽŶŝnjĂƟŽŶƉƌŽďĞ;DŽĚĞů-z^dWϬϭͿ

3DUWLFOHDQG$HURVRO5HVHDUFK/DERUDWRU\3($5/

$LUDQG1RLVH([SRVXUH5HVHDUFK*URXS$1(5*/DE

RESEARCH FACILITIES

DƵŋĞĨƵƌŶĂĐĞ

dŚĞƌŵĂůKƉƟĐĂůĐĂƌďŽŶĂŶĂůLJƐĞƌ

tĂƚĞƌWƵƌŝĮĞƌƵŶŝƚ

7KH 3K' FXUULFXOXP LQFOXGHV D VHW RI FRXUVHV RQ IXQGDPHQWDO DQG DSSOLHG WRSLFV

GHVLJQHGWRSURYLGHLQWHOOHFWXDOJURXQGLQJIRUFULWLFDOUHVHDUFKDQDO\VLVDQGDSSOLFDWLRQ

&2038/625<&2856(6

¨ &0 - ,QWURGXFWLRQWR&OLPDWH&KDQJH

¨ &0 - &RPPXQLFDWLRQ6NLOOV

6&,(1&(75$&.&2856(6

¨ &0 - ,QWURGXFWLRQWR5LVN$QDO\VLV

¨ &0 - $WPRVSKHUHDQG&OLPDWH&KDQJH

¨ &0 - ,QWURGXFWLRQWR2FHDQ$WPRVSKHUH'\QDPLFV

¨ &0 - (DUWK¶V&OLPDWH-3DVW3UHVHQWDQG)XWXUH

¨ &0 - *HRSK\VLFDO)OXLG'\QDPLFV

¨ &0 - 5HPRWHVHQVLQJIRU(QYLURQPHQWDODQG&OLPDWH&KDQJH6WXGLHV

¨ &0 - 6XVWDLQDEOH(QJLQHHULQJ3ULQFLSOHV

¨ &( - (FRK\GURFOLPDWRORJ\

¨ &( - $SSOLHG6WDWLVWLFV

¨ &( - 5HPRWH6HQVLQJ7HFKQRORJ\

¨ &( - 5HPRWH6HQVLQJ/DE

¨ &( - *HRJUDSKLFDO,QIRUPDWLRQ6\VWHPV*,6LQ&LYLO(QJLQHHULQJ

¨ &( - 'LJLWDO,PDJH3URFHVVLQJRI5HPRWHO\6HQVHG'DWD

ACADEMIC COURSES

¨ 86 - 6XVWDLQDELOLW\$VVHVVPHQWRI8UEDQ6\VWHPV

¨ *15 - *HRVSDWLDO6WDWLVWLFV

¨ *15 - 5HPRWH6HQVLQJRI6XUIDFH:DWHU5HVRXUFHV

¨ &( - +\GURJHRPRUSKRORJ\

¨ &( - 1XPHULFDOWHFKQLTXHVLQK\GUDXOLFHQJLQHHULQJ

¨ &( - 'DWDSURFHVVLQJLQ5HPRWH6HQVLQJ

¨ 0( - *HRSK\VLFDO)OXLG'\QDPLFV

¨ 01* - %XVLQHVVDQG6XVWDLQDEOHGHYHORSPHQW

¨ &( - &RDVWDO3RUW+DUERXU(QJLQHHULQJ

¨ &( - :DWHU5HVRXUFHV6\VWHPV

¨ 86 - 8UEDQ(QYLURQPHQWDO,QIUDVWUXFWXUH

¨ &( - $SSOLHG+\GUDXOLF(QJLQHHULQJ

32/,&<75$&.&2856(6

¨ &0 - 3XEOLF3ROLF\*RYHUQDQFH

¨ &0 - (QHUJ\5HVRXUFHV(FRQRPLFVDQG(QYLURQPHQW

¨ &0 - (QHUJ\&OLPDWH

¨ &0 - (QYLURQPHQWDO3ODQQLQJDQG'HYHORSPHQW

¨ &0 - 3ROLF\5HVSRQVHVWR&OLPDWH&KDQJH

ACADEMIC COURSES

+RQRXULQJ ZRPHQ LQ 67($0 ILHOGV RI 6FLHQFH 7HFKQRORJ\ (QJLQHHULQJ $UWV DQG

0DWKHPDWLFVLQ,QGLDDVSDUWRI$]DGL.D$PULW0DKRWVDY3URI9LMD\5DJKDYDQ3ULQFLSDO

6FLHQWLILF$GYLVHU WR WKH*RYHUQPHQW RI ,QGLD +RQEOH%ULWLVK+LJK&RPPLVVLRQHU0U

$OH[(OOLVUHOHDVHQGHGLWLRQRI6KH,VERRN-DFROODERUD

WLRQRI2IILFHRI3ULQFLSDO6FLHQWLILF$GYLVHUWR*R,%ULWLVK

+LJK&RPPLVVLRQ1HZ'HOKL),&&,:RPHQV&KDPEHU

RI &RPPHUFH 5HG 'RW )RXQGDWLRQ KWWSV

ZZZSVDJRYLQDUWVKH--LQGLDQ-ZRPHQ-VWHDP

352) $53,7$ 021'$/ ,'3&6 DVVRFLDWHG IDFXOW\

IURP&LYLO'HSW,,7%RPED\LVIHDWXUHGDVRQHRIWKH

,QGLDQ:RPHQLQ67($0WKURXJKµ6KH,V¶ERRNVHULHV

¨ 3URI0RQGDOZDVJUDQWHG$8$6FKRODUV$ZDUGWRYLVLW+RQJ.RQJ8QLYHUVLW\RI6FLHQFH

DQG7HFKQRORJ\

¨ 6HOHFWHGDV$VVRFLDWH(GLWRU(GLWRULDO%RDUGRI5HJLRQDO(QYLURQPHQWDO&KDQJH5(&

6SULQJHU

¨ ,QYLWHGE\(GLWRULDO%RDUGRI:DWHUDQG&OLPDWHVHFWLRQRI)URQWLHUVLQ:DWHUDV5HYLHZ

(GLWRU

AWARDS, HONOURS & RECOGNITIONS

7R FDOO KLP ,QGLD¶VPRQVRRQ PDQZRQ¶W EHWRRIDUIURPWKHWUXWK

352)68%,0$/

*+26+&RQYHQHU

,'3&6KDVEHHQIHD

WXUHGDVRQHRIWKH

XQGHUVFLHQWLVWVLQ

WKH'HSDUWPHQWRI6FL

HQFHDQG7HFKQRORJ\

*RYHUQPHQWRI,QGLD

ERRN81'(5

6&,(17,6766+$3,1*

72'$<6,1',$

,,7 %RPED\ DQQRXQFHV WKH HVWDEOLVKPHQW RI ,QGLDV ILUVW1DWLRQDO &HQWUH RI ([FHOOHQFH LQ

&DUERQ&DSWXUHDQG8WLOL]DWLRQ1&R(-&&8ZLWKVXSSRUWIURPWKH'HSDUWPHQWRI6FL

HQFHDQG7HFKQRORJ\'670LQLVWU\RI6FLHQFHDQG7HFKQRORJ\1HZ'HOKL7KH1DWLRQDO

&HQWUHVKDOOH[SORUHDQGXQORFNWKHSRWHQWLDORI&&8WHFKQRORJLHVWRVHW,QGLDRQWKHSDWKWR

PHHWLQJ FOLPDWH JRDOV ZKLOH DWWDLQLQJ HQHUJ\ VXIILFLHQF\ LQ WKH GHFDGHV WR FRPH352)

9,.5$09,6+$/ZLOOEHWKHILUVW&RQYHQHURI1&R(-&&8EHLQJWKHOHDGSURMHFWLQYHVWL

JDWRU3,ZLWK3URI$UQDE'XWWDDVWKH&R-3,

352) 75837,0,6+5$VHOHFWHGDVWKH1DWLRQDO([

SHUW /HDG IURP ,QGLD WR MRLQ WKH *,= SURMHFW 3RWHQWLDO

DQDO\VLV LQ XS WR ILYH FRXQWULHV WR XVH PDUNHW PHFKD

QLVPVZLWKLQ$UWLFOHRIWKH3DULV$JUHHPHQWZKLFKZLOO

DQDO\]HWKHSRWHQWLDOIRUWKHXVHRIPDUNHWPHFKDQLVPV

LQ6RXWK$IULFD3HUX5ZDQGD,QGLDDQG.HQ\D

352)5$1*$1%$1(5-((,'3&6DVVRFLDWH

IDFXOW\ IURP (QHUJ\ 6FLHQFH DQG (QJLQHHULQJ 'H

SDUWPHQWKDVEHHQDSSRLQWHGDVWKH'LUHFWRURI,,7

'HOKLLQ3URI%DQHUMHHSOD\HGDVWHOODUUROH

DW,,7%DVWKHIRUPHU'HDQ5HVHDUFKDQG'HYHORS

PHQWVHUYHGDV+HDGRIWKH'HSWZHOO-NQRZQIRU

KLVUHVHDUFKFRQWULEXWLRQVDQGLVD)HOORZRI ,QGLDQ

1DWLRQDO$FDGHP\RI(QJLQHHULQJ

352) '(%$%5$7$0$,7< KDV EHHQ VHOHFWHG IRU

WKH6XQ3KDUPD6FLHQFH)RXQGDWLRQ5HVHDUFK$ZDUGV

-3KDUPDFHXWLFDO6FLHQFHV

352)$51$%'877$KDVEHHQVHOHFWHGDVDPHP

EHURI WKHSUHVWLJLRXV ,QGLDQ1DWLRQDO<RXQJ$FDGHP\RI

6FLHQFHVIRUDSHULRGRI\HDUV-

352)(6:$55$-$6(.$5$1VHOHFWHGIRU WKH

3URI .. 1DJHVZDUD 5DR <RXQJ $FKLHYHU $ZDUG-

JLYHQE\WKH,QGLDQ6RFLHW\RI*HRPDWLFVIRUKLV

VLJQLILFDQWFRQWULEXWLRQVLQWKHILHOGRI*HRPDWLFV

,'3&63K'VWXGHQW65,1$7++$5$1 ,<(5OHGWKH6$6,,7%

VWXGHQWWHDPWRZLQWKH;35,=(DZDUGRI86'IRU&DU

ERQ5HPRYDO6WXGHQW&RPSHWLWLRQVXSSRUWHGE\WKH0XVN)RXQ

GDWLRQ DQG XQGHU WKH PHQWRUVKLS RI ,'3&6 DVVRFLDWH IDFXOW\

3URI $UQDE 'XWWD DQG 3URI 9LNUDP 9LVKDO 7KH WHDP IURP ,,7

%RPED\ LV WKH RQO\ VLQJOH-LQVWLWXWLRQ WHDP WR ZLQ IURP ,QGLD

DPRQJ ZLQQLQJ WHDPV IURP WHQ FRXQWULHV RXW RI DSSOL

FDQWVJOREDOO\ 7KH DQQRXQFHPHQWZDVPDGH RQ 1RY¶ DW

WKH6XVWDLQDEOH,QQRYDWLRQ)RUXPDW&23-LQ*ODVJRZKWWSV

ZZZ[SUL]HRUJSUL]HVHORQPXVNDUWLFOHV[SUL]H-DQG-PXVN-IRXQGDWLRQ-QDPH--ZLQQHUV-LQ-ILYH-

PLOOLRQ-GROODU-FDUERQ-UHPRYDO-VWXGHQW-FRPSHWLWLRQ7KHLUFRQFHSWZDVWRGHYHORSDQHZWHFKQRO

RJ\IRUHIILFLHQWFDSWXUHRI&2IURPSRLQWVRXUFHVRIHPLVVLRQVDQGVHTXHVWHULWSHUPDQHQWO\

LQWKHIRUPRIVDOWV7KLVWHFKQRORJ\ZLOOSDYHWKHSDWKZD\IRUHVWDEOLVKLQJDQHW-QHJDWLYHFDU

ERQ HPLVVLRQ VFHQDULR XQGHU SUDFWLFDO FRQGLWLRQV 7KHLU EULHI WDON YLGHR FDQ EH YLHZHG KHUH

KWWSV\RXWXEHYST5;V

,'3&6 3K' VWXGHQWV $5<$

/$.6+0, 0 5,6+$%+

6+$50$ DQG $,6:$5<$

& / KDYH EHHQ VHOHFWHG IRU

WKHSUHVWLJLRXV3ULPH0LQLVWHUV

5HVHDUFK )HOORZVKLS 305)

DZDUGHGE\WKH0LQLVWU\RI(G

XFDWLRQ 7KHLU VXSHUYLVRUV DUH

3URIV 6XELPDO*KRVK3UDGLS

.DOEDU 6ZDWDQWUD 3UDWDS

6LQJK6XEKDQNDU.DUPDNDU

352) &+$1'5$ 9(1.$7$5$0$1 ,'3&6 DV

VRFLDWH IDFXOW\ IURP'HSDUWPHQW RI&KHPLFDO(QJL

QHHULQJ DQG WKH ILUVW&RQYHQHU RI ,'3&6 VHOHFWHG

WR EHFRPH WKH )HOORZ RI ,QGLDQ 1DWLRQDO 6FLHQFH

$FDGHP\,16$DQG)HOORZRIWKH,QGLDQ$FDGHP\

RI6FLHQFHVIRUKHUUHVHDUFKFRQWULEXWLRQV

352)35$',3.$/%$5

¨ $ZDUGHGQG3UL]HLQ35,60$DZDUGVIRUKLV

FR-DXWKRUHG ³(OVHYLHU -RXUQDO - 5HVRXUFHV

&RQVHUYDWLRQDQG5HF\FOLQJ´SDSHUZLWK3URI

0RQLD 1HLUR $DOERUJ 8QLYHUVLW\ 'HQPDUN

KWWSVGRLRUJ

MUHVFRQUHF

¨ ,QYLWHGDVDQ(GLWRU IRU-RXUQDORI:DWHU5H

XVHDQG'HVDOLQDWLRQ

352)68%,0$/*+26+

¨ &RQIHUUHG WLWOH RI DQ $*8 )HOORZ ZLWK UHFHLSW RI'HYHQGUD/DO0HPRULDO0HGDO

¨ &5$<¶V 'U $ 3 - $EGXO .DODP µ+LJK 3HUIRUPDQFH

&RPSXWLQJ +3&$ZDUG ¶ IRU FRQWULEXWLRQV LQ+3&

DSSOLFDWLRQV5'

¨ 6KDQWL6ZDUXS%KDWQDJDU3UL]H IRUFRQWULEXWLRQLQ(DUWK$WPRVSKHUH2FHDQDQG3ODQHWDU\6FLHQFHV

¨ 6ZDUQDMD\DQWKL )HOORZVKLS - IRU RXWVWDQGLQJ FRQWULEXWLRQV LQ ³(DUWK DQG $W

PRVSKHULF6FLHQFHV´

¨ $SSRLQWHGDV/HDG$XWKRUIRU,3&&$5-:*-,

¨ 35/$ZDUG3K\VLFDO5HVHDUFK/DERUDWRU\$KPHGDEDG

¨ $SSRLQWHGDV,QVWLWXWH&KDLU3URIHVVRULQ0DUFK

352)$1$1'%5$2

¨ $SSRLQWHGDV/HDG$XWKRUIRU,3&&$5-:*-,,,

¨ $SSRLQWHGDV,QVWLWXWH&KDLU3URIHVVRU LQ'HFHPEHU

6HPLQDU RQ $VVHVVLQJ WKH IHDVLELOLW\ DQG HIIHFWLYHQHVV RI DGDSWDWLRQ RSWLRQV LQVLJKWVIURPWKHODWHVW,3&&UHSRUW (YHQW'DWH)ULGD\$SULO 6SHDNHU 'U &KDQGQL 6LQJK 6HQLRU UHVHDUFKHU DQG IDFXOW\PHPEHU LQ WKH 6FKRRO RI(QYLURQPHQW DQG 6XVWDLQDELOLW\ DW WKH ,QGLDQ ,QVWLWXWH IRU +XPDQ 6HWWOHPHQWV ,,+6%DQJDORUH

3DQHOGLVFXVVLRQRQ,QWHU-'LVFLSOLQDU\'XDO'HJUHH3URJUDP,'''3LQ&OLPDWH6FLHQFH3ROLF\IRU,,7%%7HFKVWXGHQWV (YHQW'DWH:HGQHVGD\0DUFK 3DQHOLVWV 3URI5DJKX0XUWXJXGGH9LVLWLQJ3URIHVVRU ,QWHUGLVFLSOLQDU\3URJUDPPH LQ&OLPDWH6WXGLHV,,7%RPED\,,7%8*DOXPQL'U5DMXO3DWNDU&R-)RXQGHUDQG&(23UR[LPDO6RLOVHQV7HFKQRORJLHV ,,7%3*DOXPQL 0LWDYDFKDQ+LUHPDWK&R-)RXQGHUDQG&(26XV3R7–&HQWHUIRU6XVWDLQDELOLW\%HQJDOXUX'LY\DQVK&KXJ3K'VWXGHQW'HSW RI $WPRVSKHULF 6FLHQFHV 8QLYHUVLW\ RI ,OOLQRLV 8UEDQD &KDPSDLJQ ,,7% 8*DOXPQL

H-6HPLQDU WDON RQ ³+LGGHQ SDWKZD\V &ROG VHDVRQ SUHFLSLWDWLRQ YDULDELOLW\ RYHU $VLDQKLJKPRXQWDLQV´ (YHQW'DWH:HGQHVGD\1RYHPEHU 6SHDNHU'U0RHWDVLP$VKIDT2DN5LGJH1DWLRQDO/DERUDWRU\251/86$

H-6HPLQDURQ³,VGHFDGDOSUHGLFWLRQLQWKHWURSLFVIHDVLEOH" (YHQWGDWH:HGQHVGD\1RYHPEHU 6SHDNHU 3URI .DUXPXU $VKRN &HQWUH IRU (DUWK DQG 6SDFH 6FLHQFHV 8QLYHUVLW\ RI+\GHUDEDG

H-6HPLQDUVHULHVWDONRQ&OLPDWH5LVN)URP$FDGHPLDWR,QGXVWU\ (YHQW'DWH:HGQHVGD\2FWREHU 6SHDNHU'U(YDQ.RGUD6U'LUHFWRU&OLPDWH(6*DW ,&('DWD6HUYLFHV*UHDWHU%RVWRQ

5RXQGWDEOH2OGFLWLHVQHZULVNV (YHQW'DWH7KXUVGD\$XJXVW

,QGLD-8.--DSDQZRUNVKRSRQ&OLPDWH5HVLOLHQFHRQ5HVLGHQWLDODQG:RUNSODFH&RROLQJ8UEDQDQG5XUDO)ORRG5LVNV6HD/HYHO5LVH (YHQW'DWH6DWXUGD\6HSWHPEHU

WKH-6FKRRORQ&OLPDWH6FLHQFHDQG3ROLF\ (YHQW'DWHWR$XJXVW

'67 6SRQVRUHG 3DQHO GLVFXVVLRQ RQ ³6FRSH IRU 7HFKQRORJ\ GHYHORSPHQW DQG(QWUHSUHQHXUVKLSLQ&OLPDWH6WXGLHV

(YHQW'DWH:HGQHVGD\0DUFK

EVENTS

'676SRQVRUHG3DQHOGLVFXVVLRQRQ³&OLPDWH5HVLOLHQW(QJLQHHULQJ'HVLJQ´ (YHQW'DWH:HGQHVGD\0DUFK 3DQHOLVWV 'U %KDQX 1HXSDQH 'U -\RWL 3DULNK 3URI 'HHSWL 6LQJK 3URI -XOLD+RSNLQV3URI8GLW%KDWLD

H-6HPLQDU &KLQD-,QGLD )RUXP RQ &OLPDWH 3ROLF\ DQG *RYHUQDQFH- (QYLURQPHQWDO3ROLF\DQG$LU3ROOXWLRQLQ&KLQD*RYHUQDQFHDQG6WUDWHJ\ (YHQW'DWH:HGQHVGD\0DUFK 6SHDNHU3URI<XDQ;X7KH&KLQHVH8QLYHUVLW\RI+RQJ.RQJ

WKH-6FKRRORQ&OLPDWH6FLHQFHDQG3ROLF\ (YHQW'DWHWR$XJXVW

6HPLQDURQ'ULYHUVRIJODFLHUPDVVEDODQFHYDULDELOLW\RYHU+LPDOD\D.DUDNRUDP$FRXSOHGUHJLRQDOJODFLHU-FOLPDWHPRGHODVVHVVPHQW (YHQW'DWH:HGQHVGD\6HSWHPEHU 6SHDNHU'U3DQNDM.XPDU$VVLVWDQW3URIHVVRU,,6(5%KRSDO

6HPLQDU 5ROHRI9HJHWDWLRQG\QDPLFVDQG$QWKURSRJHQLF LQGXFHG&KDQJHVRQ WKH7HUUHVWULDO:DWHU&\FOH

(YHQW'DWH:HGQHVGD\$XJXVW 6SHDNHU 'U 3UDVDQWK 9DOD\DPNXQQDWK 3RVWGRFWRUDO )HOORZ 1&$5 %RXOGHU&RORUDGRZLOOGHOLYHUDWDONWLWOHG

6HPLQDU RQ $GYDQFHG 5HPRWH 6HQVLQJ 7HFKQRORJLHV IRU :DWHU )RRG DQG,QIUDVWUXFWXUH

(YHQW'DWH:HGQHVGD\$XJXVW

6SHDNHU'U6DQMLY1DLU5HWG ,$62IILFHUDQG IRUPHU$GGLWLRQDO&KLHI6HFUHWDU\ RI8WWDU3UDGHVK

EVENTS

WK6XPPHU6FKRRORQ&OLPDWH6FLHQFHDQG3ROLF\ (YHQW'DWH-XO\

)XWXUH'LUHFWLRQVLQ&OLPDWH6WXGLHV%RRN/DXQFK(YHQW

(YHQW'DWH7XHVGD\0DUFK %RRN 7LWOH &OLPDWH &KDQJH 6LJQDOV DQG 5HVSRQVH $ 6WUDWHJLF .QRZOHGJH&RPSHQGLXPIRU,QGLD

*XHVWV'U$NKLOHVK*XSWD3URI6.'XEH3URI8&0RKDQW\3URI6.'DVK'U1LVKD0HQGLUDWWD'U53DQLJUDK\

EVENTS

6HPLQDUV RQ ³7KH 6RXWKHUQ 2VFLOODWLRQ +\SR[LD DQG WKH (DVWHUQ 3DFLILF 7XQD)LVKHU\´DQG³6KULQNLQJ6QRZ&DSVDQG5LVLQJ7LGHV7KH5HVSRQVHRI WKH$UDELDQ6HD(FRV\VWHPWR5HFHQW&OLPDWLF7UHQGV

(YHQW'DWH)ULGD\)HEUXDU\ 6SHDNHUV 'U '$ .HLIHU 3URIHVVRU 8QLYHUVLW\ RI 6RXWKHUQ &DOLIRUQLD DQG

'U-,*RHV5HVHDUFK3URIHVVRU&ROXPELD8QLYHUVLW\ 6HPLQDU RQ ³6XVWDLQLQJ QDWXUDO UHVRXUFHV LQ D FKDQJLQJ HQYLURQPHQW HYLGHQFH

SROLF\DQGLPSDFW´ (YHQW'DWH:HGQHVGD\)HEUXDU\ 6SHDNHU'U5XWK.DWWXPXUL&R-'LUHFWRURIWKH,QGLD2EVHUYDWRU\/RQGRQ6FKRRORI

(FRQRPLFV 6HPLQDU RQ ³,QWURGXFLQJ 1RYHO 5HODWLRQVKLSV LQ 7LPH 6HULHV 'DWD $SSOLFDWLRQV WR

&OLPDWH1HXURVFLHQFH´ (YHQW'DWH0RQGD\)HEUXDU\ 6SHDNHU 'U 6DXUDEK $JUDZDO 3K' LQ &RPSXWHU 6FLHQFH IURP 8QLYHUVLW\ RI

0LQQHVRWD 6HPLQDURQ³$TXHRXVDWPRVSKHULFFKHPLVWU\)URPWKHPROHFXODUWRWKHUHJLRQDODQG

JOREDOVFDOHV (YHQW'DWH)ULGD\-DQXDU\ 6SHDNHU 'U )D\H 0F1HLOO $VVRFLDWH 3URIHVVRU 'HSDUWPHQW RI &KHPLFDO

(QJLQHHULQJLQ&ROXPELD8QLYHUVLW\86$ 6HPLQDURQ³,PSDFWRIDHURVROVRQK\GURFOLPDWHRI,QGLD´ (YHQW'DWH:HGQHVGD\-DQXDU\ 6SHDNHU'U&KDQGDQ6DUDQJL3RVW-GRFWRUDOUHVHDUFKDVVRFLDWHDWWKH$WPRVSKHULF

6FLHQFHDQG*OREDO&KDQJHGLYLVLRQRI3DFLILF1RUWKZHVW1DWLRQDO/DERUDWRU\86$

EVENTS

PUBLICATIONS

'XULQJ-VHYHUDOKLJK-LPSDFWSXEOLFDWLRQVKDVEURXJKW IRUZDUGVHYHUDOKLJK LPSDFW

SXEOLFDWLRQVDQGFRQWULEXWHGWRSHHU-UHYLHZHGOLWHUDWXUHWKURXJKFLWDWLRQV0DQ\RIRXUVWXGLHV

DUHDOVRJHWWLQJKLJKOLJKWHGLQWKHPHGLD

1HDUO\LQWHUQDWLRQDOMRXUQDOSXEOLFDWLRQVDQGPRUHWKDQDUWLFOHVDSSHDUHGLQSUR

FHHGLQJVRILQWHUQDWLRQDOFRQIHUHQFHVVLQFHWKHLQFHSWLRQRI,'3&6LQ

2

7

13

23

19

15

22

13

38 39

55 47

29

10

22

12

19

5 6

0

5

10

15

20

25

30

35

40

45

Publications from IDPCS, IIT Bombay

International Journals International Conference proceedings

PUBLICATIONS (2020-2022) $FKDUL$3KXOHULD+&0RGHOLQJLQGRRUH[SRVXUHWR30DQGEODFNFDU

ERQLQGHQVHO\SRSXODWHGXUEDQVOXPV%XLOGLQJDQG(QYLURQPHQW

KWWSVGRLRUJMEXLOGHQY

%DUEKXL\D1+0LVUD86LQJK63%LRFDWDO\WLFPHPEUDQHVIRUFRPEDWLQJ

WKHFKDOOHQJHVRIPHPEUDQHIRXOLQJDQGPLFURSROOXWDQWVLQZDWHUSXULILFDWLRQ$UHYLHZ

&KHPRVSKHUHKWWSVGRLRUJMFKHPRVSKHUH

%XGDNRWL6&KDXKDQ70XUWXJXGGH5.DUPDNDU6*KRVK6)HHGEDFN

)URP9HJHWDWLRQWR,QWHUDQQXDO9DULDWLRQVRI,QGLDQ6XPPHU0RQVRRQ5DLQIDOO:DWHU5H

VRXUFHV5HVHDUFKH:5KWWSVGRLRUJ:5

&KDQGUD'9LVKDO9$FULWLFDOUHYLHZRQSRUHWRFRQWLQXXPVFDOHLPDJLQJ

WHFKQLTXHVIRUHQKDQFHGVKDOHJDVUHFRYHU\(DUWK-6FLHQFH5HYLHZV

KWWSVGRLRUJMHDUVFLUHY

&KDQGUD'9LVKDO9%DKDGXU-$JUDZDO$.'DV$+D]UD%6HQ%

1DQR-VFDOHSK\VLFRFKHPLFDODWWULEXWHVDQGWKHLULPSDFWRQSRUHKHWHURJHQHLW\LQVKDOH

)XHOKWWSVGRLRUJMIXHO

&KDXKDQ7*KRVK63DUWLWLRQLQJRIPHPRU\DQGUHDO-WLPHFRQQHFWLRQVEH

WZHHQYDULDEOHVLQ+LPDOD\DQHFRK\GURORJLFDOSURFHVVQHWZRUNV-RXUQDORI+\GURORJ\

KWWSVGRLRUJMMK\GURO

&KLPXUNDU1'3DWLGDU*3KXOHULD+&2FWREHU&KDQJHVLQDLUTXDOLW\

GXULQJWKH&29,'-ORFNGRZQLQ,QGLD,Q,6((&RQIHUHQFH$EVWUDFWV9RO1R

&KLPXUNDU13DWLGDU*3KXOHULD+&([DPLQLQJHIIHFWVRIWKH&29,'-

QDWLRQDOORFNGRZQRQDPELHQWDLUTXDOLW\DFURVVXUEDQ,QGLD$HURVRODQG$LU4XDOLW\5H

VHDUFK- KWWSVGRLRUJDDTU

&KLQQDVDP\35HFKDUJLQJIORRGZDWHUVWRGHSOHWHGDTXLIHUVIRULUULJDWLRQLQWKH

*DQJHV%DVLQ,QGLD¶,Q=KHQJ<DQ$QGUHZ5RVV.DUHQ*9LOOKROWKDQG3HWHU'LOORQ

0DQDJLQJDTXLIHUUHFKDUJHDVKRZFDVHIRUUHVLOLHQFHDQGVXVWDLQDELOLW\81(6&2

KWWSVXQHVGRFXQHVFRRUJDUNSI

&KLQQDVDP\3+RQDS980DVNH$%,PSDFWRI.HUDODIORRGVRQ

VRLOHURVLRQ1HHGIRUSRVW-GLVDVWHUVRLOPDQDJHPHQW-RXUQDORIWKH,QGLDQ6RFLHW\RI

5HPRWH6HQVLQJ-KWWSVGRLRUJV---]

PUBLICATIONS (2020-2022)

&KLQQDVDP\3+VX0-*RYLQGDVDP\$6DWHOOLWH-%DVHG$QDO\VLVRI

*URXQGZDWHU6WRUDJHDQG'HSOHWLRQ7UHQGV,PSOLFDWLQJ&OLPDWH&KDQJHLQ6RXWK$VLD

1HHGIRU*URXQGZDWHU6HFXULW\,Q.RODWKD\DU63DO,&KLDQ6&0RQGDO$HGV&LYLO

(QJLQHHULQJIRU'LVDVWHU5LVN5HGXFWLRQ6SULQJHU7UDFWVLQ&LYLO(QJLQHHULQJ6SULQJHU

6LQJDSRUHKWWSVGRLRUJ----B

&KLQQDVDP\33DULNK$5HPRWHVHQVLQJ-EDVHGDVVHVVPHQWRI&RDVWDO

5HJXODWLRQ=RQHVLQ,QGLDDFDVHVWXG\RI0XPEDL,QGLD(QYLURQPHQW'HYHORSPHQWDQG

6XVWDLQDELOLW\- KWWSVGRLRUJV---]

&KLQQDVDP\36RRG$(VWLPDWLRQRIVHGLPHQWORDGIRU+LPDOD\DQ5LYHUV

&DVHVWXG\RI.DOLJDQGDNLLQ1HSDO-RXUQDORI(DUWK6\VWHP6FLHQFH-

KWWSVGRLRUJV---

&KLQQDVDP\36ULYDVWDYD$5HYLYDORIWUDGLWLRQDOFDVFDGHWDQNVIRU

DFKLHYLQJFOLPDWHUHVLOLHQFHLQGU\ODQGVRI6RXWK,QGLD)URQWLHUVLQ:DWHUKWWSV

GRLRUJIUZD

&KRZGKXU\6+DLQHV$.OLQJPOOHU..XPDU93R]]HU$9HQNDWDUDPDQ&

:LWW&/HOLHYHOG-*OREDODQGQDWLRQDODVVHVVPHQWRIWKHLQFLGHQFHRIDVWKPD

LQFKLOGUHQDQGDGROHVFHQWVIURPPDMRUVRXUFHVRIDPELHQW12(QYLURQPHQWDO5HVHDUFK

/HWWHUVQRKWWSVGRLRUJ-DEH

&KRZGKXU\63R]]HU$+DLQHV$.OLQJPOOHU.0Q]HO73DDVRQHQ3

6KDUPD$9HQNDWDUDPDQ&/HOLHYHOG-*OREDOKHDOWKEXUGHQRI30

EODFNDQGRUJDQLFFDUERQDHURVROV,Q,6((&RQIHUHQFH$EVWUDFWVYROQR

'DV'.DOEDU339HODJD153DWKZD\VWRGHFDUERQL]HSDVVHQJHU

WUDQVSRUWDWLRQ,PSOLFDWLRQVWR,QGLD¶VFOLPDWHEXGJHW-RXUQDORI&OHDQHU3URGXFWLRQ

KWWSVGRLRUJMMFOHSUR

'DYH3%KXVKDQ09HQNDWDUDPDQ&$EVRUELQJDHURVROLQIOXHQFHRQ

WHPSHUDWXUHPD[LPD$QREVHUYDWLRQEDVHGVWXG\RYHU,QGLD$WPRVSKHULF(QYLURQPHQW

KWWSVGRLRUJMDWPRVHQY

*KRVK00RKDQW\0.DUPDNDU6,GHQWLILFDWLRQRI2SWLPDO+\GUDXOLF)ORRG

0DQDJHPHQW6FHQDULRVIRUD6RFLDOO\9XOQHUDEOH8UEDQ&RDVWDO&DWFKPHQW$-ZD\

&RXSOHG+\GURG\QDPLF$SSURDFK(DUWKDQG6SDFH6FLHQFH2SHQ$UFKLYH

(662$UHVVRDU

PUBLICATIONS (2020-2022) *KRVK00RKDQW\03.LVKRUH3.DUPDNDU63HUIRUPDQFHHYDOXDWLRQ

RISRWHQWLDO LQODQGIORRGPDQDJHPHQWRSWLRQVWKURXJKDWKUHH-ZD\OLQNHGK\GURG\QDPLF

PRGHOOLQJIUDPHZRUNIRUDFRDVWDOXUEDQZDWHUVKHG+\GURORJ\5HVHDUFK-

KWWSVGRLRUJQK

*KRVK 0 6LQJK - 6HNKDUDQ 6 *KRVK 6 =RSH 3 ( .DUPDNDU 6

5DWLRQDOL]DWLRQRIDXWRPDWLFZHDWKHUVWDWLRQVQHWZRUNRYHUDFRDVWDOXUEDQFDWFKPHQW$

PXOWLYDULDWH DSSURDFK $WPRVSKHULF 5HVHDUFK

KWWSVGRLRUJMDWPRVUHV

*XSWD 0 &KDXKDQ 7 0XUWXJXGGH 5 *KRVK 6 3ROOXWDQWV FRQWURO WKH

SURFHVVQHWZRUNVRIXUEDQHQYLURQPHQWDO-PHWHRURORJ\(QYLURQPHQWDO5HVHDUFK/HWWHUV

KWWSVGRLRUJ-DEFH

*XVDLQ$0RKDQW\03*KRVK6&KDWWHUMHH&.DUPDNDU6&DSWXULQJ

WUDQVIRUPDWLRQRIIORRGKD]DUGRYHUDODUJH5LYHU%DVLQXQGHUFKDQJLQJFOLPDWHXVLQJD

WRS-GRZQ DSSURDFK 6FLHQFH RI WKH 7RWDO (QYLURQPHQW

KWWSVGRLRUJMVFLWRWHQY

*XVDLQ $ *KRVK 6 .DUPDNDU 6 $GGHG YDOXH RI &0,3 RYHU &0,3

PRGHOV LQ VLPXODWLQJ ,QGLDQ VXPPHU PRQVRRQ UDLQIDOO $WPRVSKHULF 5HVHDUFK

KWWSVGRLRUJMDWPRVUHV

+LORLGKDUL0 %DQHUMHH55DR $% /LIH F\FOH DVVHVVPHQW RI VXJDU DQG

HOHFWULFLW\SURGXFWLRQXQGHUGLIIHUHQWVXJDUFDQHFXOWLYDWLRQDQGFRJHQHUDWLRQVFHQDULRVLQ

,QGLD -RXUQDO RI &OHDQHU 3URGXFWLRQ

KWWSVGRLRUJMMFOHSUR

+LORLGKDUL0+DUDQ6%DQHUMHH55DR$% /LIHF\FOHHQHUJ\–FDUERQ–

ZDWHUIRRWSULQWVRIVXJDUHWKDQRODQGHOHFWULFLW\IURPVXJDUFDQH%LRUHVRXUFH7HFKQROR

J\KWWSVGRLRUJMELRUWHFK

+XUIRUG $ 3 +DURX - - %RQ]DQLJR / 5D\ 3 $ .DUNL 3 %KDUDWL /

&KLQQDVDP\ 3 (IILFLHQW DQG UREXVW K\GURSRZHU V\VWHP GHVLJQ XQGHU

XQFHUWDLQW\-$ GHPRQVWUDWLRQ LQ 1HSDO 5HQHZDEOH DQG 6XVWDLQDEOH (QHUJ\ 5HYLHZV

KWWSVGRLRUJMUVHU

,\HU65DR$%%DQHUMHH57HFKQR-HFRQRPLFDQDO\VLVRID0:H

VXSHUFULWLFDOFRDOSRZHUSODQWLQ,QGLDUHWURILWWHGZLWKFDOFLXPORRSLQJ&D/EDVHG&2

FDSWXUHV\VWHP,QWHUQDWLRQDO-RXUQDORI*UHHQKRXVH*DV&RQWURO

PUBLICATIONS (2020-2022) -D\DVDQNDU70XUWXJXGGH5(OGKR7,,QFRQVLVWHQWDWPRVSKHUHRFHDQ

G\QDPLFVDQGPXOWLGHFDGDO]RQDO667JUDGLHQWWUHQGVDFURVVWKHHTXDWRULDO3DFLILF

2FHDQLQUHDQDO\VLVSURGXFWV-RXUQDORI*HRSK\VLFDO5HVHDUFK2FHDQV

H-&KWWSVGRLRUJ-&

.DOEDU33+\EULGWUHDWPHQWV\VWHPVDSDUDGLJPVKLIWWRDFKLHYHVXVWDLQDEOH

ZDVWHZDWHUWUHDWPHQWDQGUHF\FOLQJLQ,QGLD&OHDQ7HFKQRORJLHVDQG(QYLURQPHQWDO

3ROLF\-KWWSVGRLRUJV---[

.ULVKQDQ61DLU$6,QGX-6LPXODWLRQRI3DVVLYH0LFURZDYH'DWD7RZDUG

(IILFLHQW$VVLPLODWLRQ2YHU,QGLDQ6XEFRQWLQHQW,(((*HRVFLHQFHDQG5HPRWH6HQVLQJ

/HWWHUV-KWWSVGRLRUJ/*56

.XPDU3%DQHUMHH50LVKUD7$IUDPHZRUNIRUDQDO\]LQJWUDGH-RIIVLQFRVW

DQGHPLVVLRQVLQSRZHUVHFWRU(QHUJ\

KWWSVGRLRUJMHQHUJ\

.XPDU96DKX0%LVZDV36RXUFH$SSRUWLRQPHQWRI3DUWLFXODWH0DWWHUE\

$SSOLFDWLRQRI0DFKLQH/HDUQLQJ&OXVWHULQJ$OJRULWKPV$HURVRO$LU4XDO5HV

KWWSVGRLRUJDDTU

0DODNDU.0LVKUD75HYLVLWLQJF\FORQH3KDLOLQ'ULYHUVRIUHFRYHU\LQPDULQH

ILVKLQJFRPPXQLWLHV,QWHUQDWLRQDO-RXUQDORI'LVDVWHU5LVN5HGXFWLRQ

KWWSVGRLRUJMLMGUU

0DODNDU.0LVKUD7+DUL9.DUPDNDU65LVNPDSSLQJRI,QGLDQFRDVWDO

GLVWULFWVXVLQJ,3&&-$5IUDPHZRUNDQGPXOWL-DWWULEXWHGHFLVLRQ-PDNLQJDSSURDFK

-RXUQDORI(QYLURQPHQWDO0DQDJHPHQW

KWWSVGRLRUJMMHQYPDQ

0HKWD/6ULYDVWDYD60RYLN6$GDP+1'¶6RX]D53DUWKDVDUDWK\'

2KWH17UDQVIRUPDWLRQDVSUD[LV5HVSRQGLQJWRFOLPDWHFKDQJHXQFHUWDLQWLHVLQ

PDUJLQDOHQYLURQPHQWVLQ6RXWK$VLD&XUUHQW2SLQLRQLQ(QYLURQPHQWDO6XVWDLQDELOLW\

-KWWSVGRLRUJMFRVXVW

0RKDQW\031LWK\D61DLU$6,QGX-*KRVK6%KDWW&0.DUPDNDU

66HQVLWLYLW\RIYDULRXVWRSRJUDSKLFGDWDLQIORRGPDQDJHPHQW,PSOLFDWLRQVRQ

LQXQGDWLRQPDSSLQJRYHUODUJHGDWD-VFDUFHUHJLRQV-RXUQDORI+\GURORJ\

KWWSVGRLRUJMMK\GURO

PUBLICATIONS (2020-2022)

0RQGDO$6DK16KDUPD$9HQNDWDUDPDQ&3DWLO1$EVRUELQJ

DHURVROVDQGKLJKWHPSHUDWXUHH[WUHPHVLQ,QGLDDJHQHUDOFLUFXODWLRQPRGHOOLQJVWXG\

,QWHUQDWLRQDO-RXUQDORI&OLPDWRORJ\(-(KWWSVGRLRUJMRF

0XGXFKXUX.9HQNDWDUDPDQ&6SDWLDOKHWHURJHQHLW\RIDHURVROLQGXFHG

UDSLGDGMXVWPHQWVRQSUHFLSLWDWLRQUHVSRQVHRYHU,QGLDDJHQHUDOFLUFXODWLRQPRGHOVWXG\

ZLWK(&+$0-+$0&OLPDWH'\QDPLFV-

KWWSVGRLRUJV---

1DLU$69HUPD..DUPDNDU6*KRVK6,QGX-([SORULQJWKHSRWHQWLDORI

6:27PLVVLRQIRUUHVHUYRLUPRQLWRULQJLQ0DKDQDGLEDVLQ$GYDQFHVLQ

6SDFH 5HVHDUFK,661-KWWSVGRLRUJMDVU

1DQGL6-DQJD5HGG\0&RPSDUDWLYHSHUIRUPDQFHHYDOXDWLRQRI

VHOI-DGDSWLYHGLIIHUHQWLDOHYROXWLRQZLWK*$6&(DQG'(DOJRULWKPVIRUWKHDXWRPDWLF

FDOLEUDWLRQRIDFRPSXWDWLRQDOO\LQWHQVLYHGLVWULEXWHGK\GURORJLFDOPRGHO+2SHQ

-RXUQDO-KWWSVGRLRUJKRM

1DQGL60DQQH-56SDWLRWHPSRUDODQDO\VLVRIZDWHUEDODQFHFRPSRQHQWV

DQGWKHLUSURMHFWHGFKDQJHVLQQHDU-IXWXUHXQGHUFOLPDWHFKDQJHRYHU6LQD%DVLQ,QGLD

:DWHU5HVRXUFHV0DQDJHPHQW-

KWWSVGRLRUJV---

3DUWKDVDUDWK\'&KDOOHQJLQJWKH(QYLURQPHQW8QFHUWDLQ3DWKZD\VWR

7UDQVIRUPDWLRQLQIRU,QGLD/HV&DKLHUVG2XWUH-0HU-

KWWSVGRLRUJFRP

3DWHO3.DUPDNDU6*KRVK6$OLDJD'1L\RJL',PSDFWRIJUHHQURRIV

RQKHDY\UDLQIDOO,QWURSLFDOFRDVWDOXUEDQDUHD(QYLURQPHQWDO5HVHDUFK/HWWHUV

KWWSVGRLRUJ-DF

3DWHO3.DUPDNDU6*KRVK61L\RJL',PSURYHGVLPXODWLRQRIYHU\

KHDY\UDLQIDOOHYHQWVE\LQFRUSRUDWLQJ:8'$37XUEDQODQGXVHODQGFRYHULQ:5)

8UEDQ&OLPDWHKWWSVGRLRUJMXFOLP

5DJKDY3%RUNRWRN\66-RVHSK-&KDWWRSDGK\D\56DKDL$.*KRVK6

5HYDPSLQJH[WHQGHGUDQJHIRUHFDVWRI,QGLDQVXPPHUPRQVRRQ&OLPDWH

'\QDPLFV- KWWSVGRLRUJV---

PUBLICATIONS (2020-2022)

5DSDUWKL1'HEEDUPD63KXOHULD+&'HYHORSPHQWRIUHDO-ZRUOGHPLVVLRQ

IDFWRUVIRURQ-URDGYHKLFOHVIURPPRWRUZD\WXQQHOPHDVXUHPHQWV$WPRVSKHULF

(QYLURQPHQW;KWWSVGRLRUJMDHDRD

5DSDUWKL13KXOHULD+&5HDO-ZRUOGYHKLFXODUHPLVVLRQVLQWKH,QGLDQPHJ

DFLW\&DUERQDFHRXVPHWDODQGPRUSKRORJLFDOFKDUDFWHUL]DWLRQDQGWKHHPLVVLRQIDFWRUV

8UEDQ&OLPDWHKWWSVGRLRUJMXFOLP

5DYLVKDQNDUD$5'DYLG/03LHUFH-59HQNDWDUDPDQ&2XWGRRUDLU

SROOXWLRQLQ,QGLDLVQRWRQO\DQXUEDQSUREOHP3URFHHGLQJVRIWKH1DWLRQDO$FDGHP\RI

6FLHQFHV-ZZZSQDVRUJFJLGRLSQDV

5R\$1DUYHNDU30XUWXJXGGH56KLQGH9*KRVK66KRUWDQG0HGLXP

5DQJH,UULJDWLRQ6FKHGXOLQJ8VLQJ6WRFKDVWLF6LPXODWLRQ2SWLPL]DWLRQ)UDPHZRUN:LWK

)DUP6FDOH(FRK\GURORJLFDO0RGHODQG:HDWKHU)RUHFDVWV:DWHU5HVRXUFHV5HVHDUFK

H:5KWWSVGRLRUJ:5

6DKDQD90RQGDO$6UHHNXPDU3'URXJKWYXOQHUDELOLW\DQGULVN

DVVHVVPHQWLQ,QGLD6HQVLWLYLW\DQDO\VLVDQGFRPSDULVRQRIDJJUHJDWLRQWHFKQLTXHV

-RXUQDORI(QYLURQPHQWDO0DQDJHPHQW

KWWSVGRLRUJMMHQYPDQ

6DKDQD96UHHNXPDU30RQGDO$5DMVHNKDU'2QWKHUDULW\RIWKH

GURXJKWLQ,QGLD$FRXQWU\-ZLGHGURXJKWDWODVXVLQJWKHPXOWLYDULDWHVWDQGDUGL]HGGURXJKW

LQGH[DQGFRSXOD-EDVHGVHYHULW\-GXUDWLRQ-IUHTXHQF\FXUYHV-RXUQDORI+\GURORJ\

5HJLRQDO6WXGLHVKWWSVGRLRUJMHMUK

6DKDVWUDEXGGKH5*KRVK6'RHVVWDWLVWLFDOPRGHOSHUIRUPDWSDUZLWKFRP

SXWDWLRQDOO\H[SHQVLYHJHQHUDOFLUFXODWLRQPRGHOIRUGHFDGDOSUHGLFWLRQ"(QYLURQPHQWDO

5HVHDUFK/HWWHUVKWWSVGRLRUJ-DEIHHG

6HNKDUDQ66DPDO'53KXOHULD+&&KDQGHO0.*HGDP6.XPDU56HWKL

96XSDWH$5.DUPDNDU65LYHUSROOXWLRQPRQLWRULQJRYHUDQLQGXVWULDO

FDWFKPHQWLQXUEDQHFRV\VWHP&KDOOHQJHVDQGSURSRVHGJHRVSDWLDOIUDPHZRUN

(QYLURQPHQWDO&KDOOHQJHVKWWSVGRLRUJMHQYF

6KDUPD$%KDWWDFKDU\D$9HQNDWDUDPDQ&,QIOXHQFHRIDHURVROUDGLDWLYH

HIIHFWVRQVXUIDFHWHPSHUDWXUHDQGVQRZPHOWLQWKH+LPDOD\DQUHJLRQ6FLHQFHRI7KH

7RWDO(QYLURQPHQWKWWSVGRLRUJMVFLWRWHQY

PUBLICATIONS (2020-2022)

6KDUPD30RQGDO$&RQWLQXRXV6HSDUDWLRQRI&OLPDWHDQG&DWFKPHQW

(IIHFWVRQ6WUHDPIORZ-RXUQDORI+\GURORJ\

KWWSVGRLRUJMMK\GURO

6KDUPD79LWWDO+.DUPDNDU6*KRVK6,QFUHDVLQJDJULFXOWXUDOULVNWR

K\GUR-FOLPDWLFH[WUHPHVLQ,QGLD(QYLURQPHQWDO5HVHDUFK/HWWHUV

KWWSVGRLRUJ-DEH

6LQJK-.DUPDNDU63DL0D]XPGHU'*KRVK61L\RJL'8UEDQL]DWLRQ

DOWHUVUDLQIDOOH[WUHPHVRYHUWKHFRQWLJXRXV8QLWHG6WDWHV(QYLURQPHQWDO5HVHDUFK

/HWWHUVKWWSVGRLRUJ-DE

6LQJK0.ULVKQDQ5*RVZDPL%&KRXGKXU\$'6ZDSQD39HOORUH5

.XUWKV-)LQJHUSULQWRIYROFDQLFIRUFLQJRQWKH(162–,QGLDQPRQVRRQFRXSOLQJ

6FLHQFHDGYDQFHVHDEDVFLDGYDED

6LQJK10LVKUD7%DQHUMHH5$QDO\VLVRI5HWURILWDQG6FUDSSDJH3ROLFLHV

IRUWKH,QGLDQ5RDG7UDQVSRUW6HFWRULQ7UDQVSRUWDWLRQ5HVHDUFK5HFRUG

KWWSVGRLRUJ

6LQJK10LVKUD1%DQHUMHH5(PLVVLRQLQYHQWRU\IRUURDGWUDQVSRUWLQ

,QGLDLQIUDPHZRUNDQGSRVWIDFWRSROLF\LPSDFWDVVHVVPHQW(QYLURQ6FL3ROOXW

5HVKWWSVGRLRUJV---

6LQJK10LVKUD7%DQHUMHH53URMHFWLRQRISULYDWHYHKLFOHVWRFNLQ,QGLD

XSWR7UDQVSRUWDWLRQ5HVHDUFK3URFHGLD-

KWWSVGRLRUJMWUSUR

6LQJK53'DYLG/9LVKDO93URVSHFWVDQGFKDOOHQJHVLQXQORFNLQJ

QDWXUDO-JDV-K\GUDWHHQHUJ\LQ,QGLD5HFHQWDGYDQFHPHQWV0DULQHDQG3HWUROHXP

*HRORJ\KWWSVGRLRUJMPDUSHWJHR

6LQKD5.(OGKR7,6XELPDO*$VVHVVLQJWKHLPSDFWVRIKLVWRULFDODQG

IXWXUHODQGXVHDQGFOLPDWHFKDQJHRQWKHVWUHDPIORZDQGVHGLPHQW\LHOGRIDWURSLFDO

PRXQWDLQRXVULYHUEDVLQLQ6RXWK,QGLD(QYLURQPHQWDO0RQLWRULQJDQG$VVHVVPHQW

-KWWSVGRLRUJV---

6LQKD5.(OGKR7,6XELPDO*$VVHVVLQJWKHLPSDFWVRIODQGFRYHUDQG

FOLPDWHRQUXQRIIDQGVHGLPHQW\LHOGRIDULYHUEDVLQ+\GURORJLFDO6FLHQFHV-RXUQDO

- KWWSVGRLRUJ

PUBLICATIONS (2020-2022) 6LQKD5.(OGKR7,6XELPDO*$VVHVVLQJWKHLPSDFWVRIODQGXVHODQG

FRYHUDQGFOLPDWHFKDQJHRQVXUIDFHUXQRIIRIDKXPLGWURSLFDOULYHUEDVLQLQ:HVWHUQ

*KDWV,QGLD,QWHUQDWLRQDO-RXUQDORI5LYHU%DVLQ0DQDJHPHQW-

KWWSVGRLRUJ

6ZDPL'3DUWKDVDUDWK\''\QDPLFVRIH[SRVXUHVHQVLWLYLW\DGDSWLYH

FDSDFLW\DQGDJULFXOWXUDOYXOQHUDELOLW\DWGLVWULFWVFDOHIRU0DKDUDVKWUD,QGLD(FRORJLFDO

,QGLFDWRUVKWWSVGRLRUJMHFROLQG

6ZDPL'3DUWKDVDUDWK\'$PXOWLGLPHQVLRQDOSHUVSHFWLYHWRIDUPHUV¶

GHFLVLRQPDNLQJGHWHUPLQHVWKHDGDSWDWLRQRIWKHIDUPLQJFRPPXQLW\-RXUQDORI

(QYLURQPHQWDO0DQDJHPHQWKWWSVGRLRUJMMHQYPDQ

6ZDPL''DYH33DUWKDVDUDWK\'$QDO\VLVRIWHPSHUDWXUHYDULDELOLW\DQG

H[WUHPHVZLWKUHVSHFWWRFURSWKUHVKROGWHPSHUDWXUHIRU0DKDUDVKWUD,QGLD7KHRUHWLFDO

DQG$SSOLHG&OLPDWRORJ\-KWWSVGRLRUJV---

6ZDPL''DYH33DUWKDVDUDWK\'8QGHUVWDQGLQJIDUPHUV¶VXLFLGDO

LGHDWLRQDVWUXFWXUDOHTXDWLRQPRGHOLQJVWXG\LQ0DKDUDVKWUD,QGLD&OLPDWLF&KDQJH

-KWWSVGRLRUJV---

7KLUXYHQJDGDP3 ,QGX-*KRVK6 5DGDUUHIOHFWLYLW\DQGUDGLDOYHORFLW\

DVVLPLODWLRQLQDK\EULG(7.)'9$5V\VWHPIRUSUHGLFWLRQRIDKHDY\FRQYHFWLYH

UDLQIDOO4XDUWHUO\-RXUQDORIWKH5R\DO0HWHRURORJLFDO6RFLHW\-

KWWSVGRLRUJTM

7LEUHZDO.9HQNDWDUDPDQ&&OLPDWHFR-EHQHILWVRIDLUTXDOLW\DQGFOHDQ

HQHUJ\SROLF\LQ,QGLD1DWXUH6XVWDLQDELOLW\-

KWWSVGRLRUJV---

7LEUHZDO.9HQNDWDUDPDQ&&29,'-ORFNGRZQFORVXUHVRIHPLVVLRQV

VRXUFHVLQ,QGLD/HVVRQVIRUDLUTXDOLW\DQGFOLPDWHSROLF\-RXUQDORI(QYLURQPHQWDO

0DQDJHPHQWKWWSVGRLRUJMMHQYPDQ

7ULSDWK\66%KDWLD80RKDQW\0.DUPDNDU6*KRVK6)ORRG

HYDFXDWLRQGXULQJSDQGHPLFDPXOWL-REMHFWLYHIUDPHZRUNWRKDQGOHFRPSRXQGKD]DUG

(QYLURQPHQWDO5HVHDUFK/HWWHUVKWWSVGRLRUJ-

DEGD

7ULSDWK\66.DUPDNDU6*KRVK6+D]DUGDWZHDWKHUVFDOHIRUH[WUHPH

UDLQIDOOIRUHFDVWUHGXFHVXQFHUWDLQW\ :DWHU6HFXULW\

PUBLICATIONS (2020-2022) 7ULSDWK\669LWWDO+.DUPDNDU6*KRVK6)ORRGULVNIRUHFDVWLQJDW

ZHDWKHUWRPHGLXPUDQJHLQFRUSRUDWLQJZHDWKHUPRGHOWRSRJUDSK\VRFLR-HFRQRPLF

LQIRUPDWLRQDQGODQGXVHH[SRVXUH$GYDQFHVLQ:DWHU5HVRXUFHV

KWWSVGRLRUJMDGYZDWUHV

9DUHNDU9<DGDY9.DUPDNDU65DWLRQDOL]DWLRQRIZDWHUTXDOLW\PRQLWRULQJ

ORFDWLRQVXQGHUVSDWLRWHPSRUDOKHWHURJHQHLW\RIGLIIXVHSROOXWLRQXVLQJVHDVRQDOH[SRUW

FRHIILFLHQW-RXUQDORI(QYLURQPHQWDO0DQDJHPHQW

KWWSVGRLRUJMMHQYPDQ

9LVKDO99HUPD<&KDQGUD'$VKRN'$V\VWHPDWLFFDSDFLW\DVVHVVPHQW

DQGFODVVLILFDWLRQRIJHRORJLF&2VWRUDJHV\VWHPVLQ,QGLD,QWHUQDWLRQDO-RXUQDORI

*UHHQKRXVH*DV&RQWUROKWWSVGRLRUJMLMJJF

9LVKDO9&KDQGUD'6LQJK89HUPD<8QGHUVWDQGLQJLQLWLDORSSRUWXQLWLHV

DQGNH\FKDOOHQJHVIRU&&86GHSOR\PHQWLQ,QGLDDWVFDOH5HVRXUFHV&RQVHUYDWLRQDQG

5HF\FOLQJKWWSVGRLRUJMUHVFRQUHF

9LWWDO+'KDUPDVWKDOD6.RSSD$.DUPDNDU6.XPDU5&OLPDWHKD]

DUGVDUHWKUHDWHQLQJYXOQHUDEOHPLJUDQWVLQ,QGLDQPHJDFLWLHV1DW&OLP&KDQJ

KWWSVGRLRUJV---

9LWWDO+.DUPDNDU6*KRVK60XUWXJXGGH5$FRPSUHKHQVLYH

,QGLD-ZLGHVRFLDOYXOQHUDELOLW\DQDO\VLVKLJKOLJKWLQJLWVLQIOXHQFHRQK\GUR-FOLPDWLFULVN

(QYLURQPHQWDO5HVHDUFK/HWWHUVKWWSVGRLRUJ-

DE

=DFKDULDK00RQGDO$'DV0$FKXWD5DR.0*KRVK62QWKHUROHRI

UDLQIDOOGHILFLWVDQGFURSSLQJFKRLFHVLQORVVRIDJULFXOWXUDO\LHOGLQ0DUDWKZDGD,QGLD(Q

YLURQPHQWDO5HVHDUFK/HWWHUVKWWSVGRLRUJ-DEIF

PATENTS *KRVK67ULSDWK\6.DUPDNDU60HWKRGIRUUHDOWLPHIRUHFDVWLQJRI)ORRG

5LVNFRQVLGHULQJ+D]DUG([SRVXUHDQG9XOQHUDELOLW\>,QGLDQ3DWHQW)LOHG$SSOLFDWLRQQR

@

*KRVK 6 5R\ $ 0HWKRG DQG HOHFWURQLF GHYLFH IRU LUULJDWLRQ ZDWHU

PDQDJHPHQW>,QGLDQ3DWHQW)LOHG$SSOLFDWLRQQR(-080@

$%+,6+(.&+$.5$%257<

$VVLVWDQW3URIHVVRU

3ULPDU\GHSDUWPHQW(QYLURQPHQWDO6FLHQFHDQG(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW $LU SROOXWLRQ FRQWUROWHFKQRORJLHV $WPRVSKHULF SURFHVVLQJ RI RUJDQLFDHURVROV)RJ-VPRJ-DHURVROLQWHUDFWLRQV3K\VLFRFKHPLFDOFKDUDFWHUL]DWLRQRIDHURVROV5HDO-WLPHDLUSROOXWLRQPRQLWRULQJ 5HDO-WLPH FKDUDFWHUL]DWLRQ DQG VRXUFHDSSRUWLRQPHQWRIRUJDQLFDHURVROV

$1$1'%5$2

3URIHVVRU

3ULPDU\ GHSDUWPHQW &HQWUH IRU 7HFKQRORJ\$OWHUQDWLYHVIRU5XUDO$UHDV &7$5$

5HVHDUFK LQWHUHVW (QHUJ\ DQG (QYLURQPHQW7HFKQRORJ\ $VVHVVPHQW &OLPDWH &KDQJH 0LWLJDWLRQ&DUERQ&DSWXUHDQG6HTXHVWUDWLRQ&&65HQHZDEOHVDQG (QHUJ\ (IILFLHQF\ :DVWH 0DQDJHPHQW (QHUJ\3ROLF\DQG3ODQQLQJ5XUDO(QHUJ\&RQVXPSWLRQ5XUDO/LYHOLKRRGV17)3V6XSSO\&KDLQ$QDO\VLV

$1,6+02',

$VVLVWDQW3URIHVVRU

3ULPDU\GHSDUWPHQW'HSDUWPHQWRI(QHUJ\6FLHQFHDQG(QJLQHHULQJ

5HVHDUFK LQWHUHVW 6RODU WKHUPDO HQHUJ\&RQFHQWUDWLQJ VRODU SRZHU 3RZHU F\FOHV DQGPXOWLJHQHUDWLRQSODQWV(QHUJ\VXVWDLQDELOLW\

$51$%'$77$

$VVRFLDWH3URIHVVRU

3ULPDU\GHSDUWPHQW'HSDUWPHQWRI&KHPLVWU\

5HVHDUFK LQWHUHVW %LR-LQRUJDQLF FKHPLVWU\(Q]\PH-LQVSLUHG FDWDO\VW GHVLJQ $OWHUQDWLYH HQHUJ\UHVHDUFK

$53,7$021'$/

$VVLVWDQW3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW 'HWHFWLRQ DQG $WWULEXWLRQ RI+\GURFOLPDWLF &KDQJH 6SDWLR-7HPSRUDO 0RGHOLQJ RI([WUHPHV +\GURORJLF 6WDWLVWLFV 8QFHUWDLQW\ 0RGHOLQJ&OLPDWH &KDQJH 6WDWLVWLFDO 'RZQVFDOLQJ )UHTXHQF\$QDO\VLVRI)ORRGVDQG'URXJKWVLQFOXGLQJ5HJLRQDOL]DWLRQ 5LVN $VVHVVPHQW XQGHU 1RQ-VWDWLRQDULW\ 8UEDQ)ORRGLQJ

&+$1'5$ 9(1.$7$5$0$1

3URIHVVRU

3ULPDU\ GHSDUWPHQW 'HSDUWPHQW RI &KHPLFDO(QJLQHHULQJ

5HVHDUFK LQWHUHVW $WPRVSKHULF DHURVROV (QHUJ\XVHHPLVVLRQVFOLPDWHDLUTXDOLW\(QJLQHHUHGQDQRSDUWLFOHV$HURVROURXWHVWRQDQRSDUWLFOHV\QWKHVLVIRUGUXJDQGJHQHGHOLYHU\

FACULTY PROFILE

'3$57+$6$5$7+<

3URIHVVRU

3ULPDU\ GHSDUWPHQW +XPDQLWLHV DQG 6RFLDO6FLHQFHV

5HVHDUFK LQWHUHVW 8UEDQ 6WXGLHV 'HYHORSPHQW6WXGLHV 5XUDO $JUDULDQ 6RFLRORJ\ /DZ DQG*RYHUQDQFH /HJDO 3OXUDOLVP 9XOQHUDELOLW\ DQG $GDSWDWLRQWR&OLPDWH&KDQJH*HQGHUDQG'HYHORSPHQW'LVDVWHU6WXGLHV

'(%$%5$7$0$,7<

3URIHVVRU

3ULPDU\GHSDUWPHQW'HSDUWPHQWRI&KHPLVWU\

5HVHDUFK LQWHUHVW 0HWDO &DWDO\]HG &-+IXQFWLRQDOL]DWLRQ %LR-LQVSLUHG &DWDO\VLV 3KRWRFDWDO\VLV +HWHURF\FOH 6\QWKHVLV 0HWDO 0HGLDWHG'HIXQFWLRQDOL]DWLRQ(OHFWURFKHPLVWU\

(6:$55$-$6(.$5$1

$VVLVWDQW3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW 7KHUPDO 5HPRWH 6HQVLQJ 560RGHOOLQJHYDSRWUDQVSLUDWLRQ IURP5656DSSOLFDWLRQVLQK\GURORJ\'URXJKWPRQLWRULQJ

+$5,6+3+8/(5,$

$VVLVWDQW3URIHVVRU

3ULPDU\ GHSDUWPHQW (QYLURQPHQWDO 6FLHQFH DQG(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW (PLVVLRQFKDUDFWHUL]DWLRQ IURPPDMRU VRXUFHV OLNH URDG WUDIILF (QYLURQPHQWDO KHDOWKDQG ULVN DVVHVVPHQW 'HYHORSPHQW RI VRXUFHHPLVVLRQV IDFWRUV $VVHVVLQJ FKHPLFDO DQG RSWLFDOSURSHUWLHV RI DWPRVSKHULF DHURVROV 0HDVXULQJ DQGPRGHOLQJ ORQJ-WHUP H[SRVXUHV WR RXWGRRU DLU SROOXWLRQLQ FRPPXQLWLHV 0RGHOLQJ HIIHFW RI DLU SROOXWLRQ RQUHVSLUDWRU\KHDOWK

,1'8-

$VVLVWDQW3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW 0LFURZDYH 5HPRWH 6HQVLQJ8QFHUWDLQW\ 0RGHOLQJ'LJLWDO ,PDJH 3URFHVVLQJ)X]]\ORJLF$SSOLFDWLRQRI5HPRWH6HQVLQJDQG*,6 LQ:DWHU5HVRXUFHV(QJLQHHULQJ

-$1*$5(''<0

$VVRFLDWH3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW :DWHU UHVRXUFH V\VWHPV6XUIDFHZDWHUK\GURORJ\ ,UULJDWLRQZDWHUPDQDJHPHQW(YROXWLRQDU\ $OJRULWKPV 6RIW FRPSXWLQJ5HPRWHVHQVLQJDQG*,6

FACULTY PROFILE

.1DUD\DQDQ

3URIHVVRU

3ULPDU\'HSDUWPHQW+XPDQLWLHV6RFLDO6FLHQFHV'HSDUWPHQW

5HVHDUFK,QWHUHVW'HYHORSPHQW(FRQRPLFV,QGXVWULDO(FRQRPLFV,QWHUQDWLRQDO%XVLQHVV,QGXVWU\-(QYLURQPHQW/LQNDJHV6RFLR-(FRQRPLF,PSDFWVRI&OLPDWH&KDQJH(QHUJ\(FRQRPLFV

.DUWKLNH\DQ/DQND

$VVLVWDQW3URIHVVRU

3ULPDU\GHSDUWPHQW&HQWUHRI6WXGLHVLQ5HVRXUFHV(QJLQHHULQJ&65(

5HVHDUFKLQWHUHVW3DVVLYH0LFURZDYH5HPRWH6HQVLQJRI6RLO0RLVWXUHDQG9HJHWDWLRQ/DQG-$WPRVSKHUH,QWHUDFWLRQV$JULFXOWXUDO'URXJKWV

0DQDVD5DQMDQ%HKHUD

$VVRFLDWH3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFKLQWHUHVW&OLPDWHFKDQJHLPSDFWVRQRFHDQZDYHVDQGFRDVWDOPRUSKR-G\QDPLFV,QYHVWLJDWLRQRIXQFHUWDLQWLHVLQVWRUPVXUJHSUHGLFWLRQDORQJ

0DQL%KXVKDQ

3URIHVVRU

3ULPDU\GHSDUWPHQW&KHPLFDO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK,QWHUHVW6HQVRU1HWZRUN'HVLJQ2SWLPDO$ODUP0DQDJHPHQW3URFHVV3ODQQLQJDQG6FKHGXOLQJ3URFHVV6DIHW\$QDO\VLV

0DQRUDQMDQ6DKX

$VVLVWDQW3URIHVVRU

3ULPDU\'HSDUWPHQW(QYLURQPHQWDO6FLHQFHDQG(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK,QWHUHVW$HURVRODQGDLUSROOXWLRQ1DQRWHFKQRORJ\DQGDSSOLFDWLRQWRHQYLURQPHQWDQGHQHUJ\&OLPDWHFKDQJH&KHPLFDOSURFHVV5HVHDUFKDQG'HYHORSPHQW

3HQQDQ&KLQQDVDP\

$VVLVWDQW3URIHVVRU

3ULPDU\GHSDUWPHQW&HQWUHIRU7HFKQRORJ\$OWHUQDWLYHVIRU5XUDO$UHDV&7$5$

5HVHDUFKLQWHUHVW6XUIDFHZDWHUDQGJURXQGZDWHUPRGHOLQJZDWHUDFFRXQWLQJDQGEXGJHWLQJUHPRWHVHQVLQJDQGFOLPDWHFKDQJHLPSDFWRQZDWHUUHVRXUFHV

FACULTY PROFILE .1$5$<$1$1

3URIHVVRU

3ULPDU\ 'HSDUWPHQW +XPDQLWLHV DQG 6RFLDO6FLHQFHV'HSDUWPHQW

5HVHDUFK ,QWHUHVW 'HYHORSPHQW (FRQRPLFV,QGXVWULDO(FRQRPLFV,QWHUQDWLRQDO%XVLQHVV,QGXVWU\-(QYLURQPHQW /LQNDJHV 6RFLR-(FRQRPLF ,PSDFWV RI&OLPDWH&KDQJH(QHUJ\(FRQRPLFV

.$57+,.(<$1/$1.$

$VVLVWDQW3URIHVVRU

3ULPDU\ GHSDUWPHQW &HQWUH RI 6WXGLHV LQ 5HVRXUFHV(QJLQHHULQJ&65(

5HVHDUFKLQWHUHVW3DVVLYH0LFURZDYH5HPRWH6HQVLQJRI 6RLO 0RLVWXUH DQG 9HJHWDWLRQ /DQG-$WPRVSKHUH,QWHUDFWLRQV$JULFXOWXUDO'URXJKWV

0$1$6$5$1-$1%(+(5$

$VVRFLDWH3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW &OLPDWH FKDQJH LPSDFWV RQRFHDQ ZDYHV DQG FRDVWDO PRUSKR-G\QDPLFV,QYHVWLJDWLRQRIXQFHUWDLQWLHVLQVWRUPVXUJHSUHGLFWLRQDORQJ,QGLDQFRDVW

0$1,%+86+$1

3URIHVVRU

3ULPDU\GHSDUWPHQW&KHPLFDO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK ,QWHUHVW 6HQVRU 1HWZRUN 'HVLJQ 2SWLPDO$ODUP 0DQDJHPHQW 3URFHVV 3ODQQLQJ DQG 6FKHGXOLQJ3URFHVV6DIHW\$QDO\VLV

0$125$1-$16$+8

$VVLVWDQW3URIHVVRU

3ULPDU\ 'HSDUWPHQW (QYLURQPHQWDO6FLHQFHDQG(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK ,QWHUHVW $HURVRO DQG DLU SROOXWLRQ1DQRWHFKQRORJ\ DQG DSSOLFDWLRQ WR HQYLURQPHQW DQGHQHUJ\&OLPDWHFKDQJH&KHPLFDOSURFHVV5HVHDUFKDQG'HYHORSPHQW

3(11$1&+,11$6$0<

$VVLVWDQW3URIHVVRU

3ULPDU\ GHSDUWPHQW &HQWUH IRU7HFKQRORJ\$OWHUQDWLYHVIRU5XUDO$UHDV&7$5$

5HVHDUFK LQWHUHVW 6XUIDFH ZDWHU DQG JURXQGZDWHUPRGHOLQJZDWHUDFFRXQWLQJDQGEXGJHWLQJUHPRWHVHQVLQJDQGFOLPDWHFKDQJHLPSDFWRQZDWHUUHVRXUFHV

FACULTY PROFILE 35$',33.$/%$5

$VVRFLDWH3URIHVVRU

3ULPDU\ GHSDUWPHQW &HQWUH IRU 8UEDQ 6FLHQFH DQG(QJLQHHULQJ

5HVHDUFK LQWHUHVW :DWHU VXSSO\ :DVWHZDWHUPDQDJHPHQW&OLPDWHFKDQJHPLWLJDWLRQ6XVWDLQDELOLW\$VVHVVPHQW

5$$-5$06$1.$5$1

$VVRFLDWH3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW 5HPRWH VHQVLQJ RI UDLQIDOOLQODQG ZDWHU ERGLHV RFHDQV FU\R-VSKHUH 6QRZ DQGJODFLHU K\GURORJLFDO PRGHOOLQJ RFHDQV 5HPRWHVHQVLQJ RI DJULFXOWXUDO ZDWHU PDQDJHPHQW 0DFKLQHOHDUQLQJLQ5HPRWH6HQVLQJ$SSOLFDWLRQV

5$*+808578*8''(

9LVLWLQJ)DFXOW\

3ULPDU\GHSDUWPHQW,QWHUGLVFLSOLQDU\3URJUDPPHLQ&OLPDWH6WXGLHV

5HVHDUFK LQWHUHVW (DUWK 6\VWHP 0RGHOLQJ DQG3UHGLFWLRQV&OLPDWH,PSDFWV&OLPDWH&RPPXQLFDWLRQV2FHDQV5ROHLQ&OLPDWH9DULDELOLW\DQG&KDQJH

5$1*$1%$1(5-((

3URIHVVRU

3ULPDU\ GHSDUWPHQW 'HSDUWPHQW RI (QHUJ\6FLHQFHDQG(QJLQHHULQJ

5HVHDUFK ,QWHUHVWV (QHUJ\ 0DQDJHPHQW DQGHQHUJ\ HIILFLHQF\'HPDQGVLGHPDQDJHPHQW(QHUJ\0RGHOOLQJ 3RZHU V\VWHPV SODQQLQJ (QHUJ\ SODQQLQJDQGSROLF\&RJHQHUDWLRQ)XHOFHOO+\GURJHQVWRUDJH

5,''+,6,1*+

$VVLVWDQW3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW5DLQIDOOUXQRIIPRGHOOLQJ0RGHOGLDJQRVWLFV +\GURORJLF SUHGLFWLRQV LQ GDWD VFDUFHUHJLRQV &DWFKPHQW FODVVLILFDWLRQ DQG K\GURORJLFVLPLODULW\ PXOWL-VWDNHKROGHU DQDO\VLV RI UHVRXUFHFRQVWUDLQHG V\VWHPV 'HFLVLRQ PDNLQJ XQGHUXQFHUWDLQW\

65,'+$5 %$/$68%5$0$1,$1

$VVRFLDWH3URIHVVRU

3ULPDU\ GHSDUWPHQW 0HFKDQLFDO (QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW 3,9 )ORZ DQG WXUEXOHQFHPHDVXUHPHQW XVLQJ RSWLFDOPHDQV([SHULPHQWDO IOXLGG\QDPLFV DQG KHDW WUDQVIHU *HRSK\VLFDO IOXLGG\QDPLFV )OXLG LQVWDELOLWLHV DQG PL[LQJ %XR\DQF\GULYHQIORZV/DVHUEDVHGLQVWUXPHQWDWLRQ

68%+$1.$5.$50$.$5

3URIHVVRU

3ULPDU\ GHSDUWPHQW (QYLURQPHQWDO VFLHQFH DQGHQJLQHHULQJ

5HVHDUFK LQWHUHVW 8QFHUWDLQW\ 0RGHOOLQJ DQG'HFLVLRQ 6FLHQFH IRU (QYLURQPHQWDO 6\VWHPV 0XOWL-DWWULEXWHGHFLVLRQPDNLQJ(QYLURQPHWULFV

68%,0$/*+26+

3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW $VVHVVLQJK\GURORJLFDO LPSDFWVRIFOLPDWH FKDQJH 5HJLRQDO &OLPDWH 0RGHOOLQJ /DQG-$WPRVSKHUH ,QWHUDFWLRQV 8UEDQ &OLPDWH 8QGHUVWDQGLQJ,QGLDQ 0RQVRRQ &OLPDWH H[WUHPHV 6HDVRQDO SUHGLFWLRQDQGZHDWKHUIRUHFDVW

6:$7$175$35$7$3 6,1*+

$VVRFLDWH3URIHVVRU

3ULPDU\ GHSDUWPHQW (QYLURQPHQWDO VFLHQFH DQGHQJLQHHULQJ

5HVHDUFK LQWHUHVW (QYLURQPHQWDO QDQRWHFKQRORJ\HQYLURQPHQWDOTXDQWXPFKHPLFDOPRGHOOLQJ)DWHDQG WUDQVSRUWRIRUJDQLFDQGHPHUJHQWFRQWDPLQDQWVLQ WKH HQYLURQPHQW 'HVDOLQDWLRQ DQG ZDVWHZDWHUWUHDWPHQW E\PHPEUDQHV 6\QHUJ\ RI ELRORJLFDO DQGSK\VLFRFKHPLFDO WUHDWPHQW SURFHVVHV $QDO\WLFDOHQYLURQPHQWDO&KHPLVWU\

7,(/'+2

3URIHVVRU

3ULPDU\GHSDUWPHQW&LYLO(QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW *URXQGZDWHU IORZ DQG SROOXWLRQLQYHVWLJDWLRQV &RPSXWDWLRQDO )OXLG '\QDPLFV &RDVWDO+\GURG\QDPLFV :DWHUVKHG PDQDJHPHQW (QYLURQPHQWDOHQJLQHHULQJ +\GUR LQIRUPDWLFV &OLPDWH FKDQJH LPSDFWDVVHVVPHQW RQ ZDWHU UHVRXUFHV DQG FRDVWDO UHJLRQ IOXLGPHFKDQLFVDQGWXUEXOHQFHVWXGLHV

75837,0,6+5$

3URIHVVRU

3ULPDU\ GHSDUWPHQW 6KDLOHVK - 0HKWD 6FKRRO RI0DQDJHPHQW

5HVHDUFK LQWHUHVW (FRQRPLFV RI SROOXWLRQ(FRQRPLF DVVHVVPHQW RI FOLPDWH FKDQJH9XOQHUDELOLW\ $GDSWDWLRQ DQG 0LWLJDWLRQ RSWLRQV&RUSRUDWH(QYLURQPHQWDO6XVWDLQDELOLW\

9,.5$09,6+$/

$VVRFLDWH3URIHVVRU

3ULPDU\GHSDUWPHQW'HSDUWPHQWRI(DUWK6FLHQFHV

5HVHDUFK LQWHUHVW 5HVHUYRLU JHRPHFKDQLFV8QFRQYHQWLRQDO SHWURSK\VLFV &DUERQ VHTXHVWUDWLRQ(QJLQHHULQJJHRORJ\

FACULTY PROFILE

9,6+$/',;,7

$VVLVWDQW3URIHVVRU

&RUH)DFXOW\

3ULPDU\GHSDUWPHQW ,QWHUGLVFLSOLQDU\3URJUDPPHLQ&OLPDWH6WXGLHV

5HVHDUFK LQWHUHVW /DQG-$WPRVSKHUH ,QWHUDFWLRQV&OLPDWH PRGHOLQJ 7URSLFDO FOLPDWH G\QDPLFV )OXLGG\QDPLFVRIFORXGV,7&=DQG0RQVRRQV

<2*(1'5$6+$675,

3URIHVVRU

3ULPDU\ GHSDUWPHQW &KHPLFDO (QJLQHHULQJ'HSDUWPHQW

5HVHDUFK LQWHUHVW &OLPDWH FKDQJH *UHHQHQJLQHHULQJ 5HQHZDEOH HQHUJ\ VRXUFHV 3ROOXWLRQFRQWURO0RGHOOLQJ2SWLPL]DWLRQ3URFHVV&RQWURO

FACULTY PROFILE

6SHFLDOYDOXHLVSODFHGRQWKHGLYHUVLW\RINQRZOHGJHDPRQJWKHIDFXOW\ZKR

DSSO\WKHLUH[SHUWLVHWRLQWHUGLVFLSOLQDU\FKDOOHQJHVWKDWFURVVWUDGLWLRQDODFD

GHPLFERXQGDULHVWRDGGUHVVFOLPDWHFKDQJHQRWRQO\WKURXJKHDUWKDQGHQ

YLURQPHQWDOVFLHQFHEXWDOVRWKURXJKHFRQRPLFVDQGHQJLQHHULQJ$URXQG

IDFXOWLHVGUDZQIURPGHSDUWPHQWVDFURVV,,7%RPED\DUHDVVRFLDWHG

ZLWK,'3&6

FACULTY AT IDPCS

PHD STUDENTS AT IDPCS

7KH 3K' SURJUDPPH DWWUDFWV KLJKO\ DFFRPSOLVKHG VWXGHQWV IURP GLYHUVH

EDFNJURXQGV LQFOXGLQJ $WPRVSKHULF 6FLHQFHV (QYLURQPHQWDO VWXGLHV

(QJLQHHULQJ 0HFKDQLFDO &LYLO &KHPLFDO &RPSXWHU 6FLHQFH ,QIRUPDWLRQ

7HFKQRORJ\(FRQRPLFV3ODQQLQJ$UFKLWHFWXUH7HDFKLQJ$VVLVWDQWVKLSLV

SURYLGHGXVLQJ0+5'IXQGVWKURXJKWKH,QVWLWXWHDQGDOVRIURPPXOWL-IDFXOW\

UHVHDUFKLQLWLDWLYHVIXQGHGE\YDULRXVJRYHUQPHQWDJHQFLHV

&XUUHQWO\ VWXGHQWV DUH SXUVXLQJ WKHLU 3K'SURJUDPPHDW ,'3&OLPDWH

6WXGLHV,,7%RPED\7KHDQQXDODQGFXPXODWLYHVWXGHQWLQWDNHFDQEHVHHQ

EHORZ

3 511

1418

23 2428

3136 38

44 45

5258

6874

82

91

98102

0

20

40

60

80

100

Number of PhD admissions at IDPCS, IIT Bombay

Academic semester

Cumulative

CURRENT STUDENTS

$FKDQ\D/DNVKPDQDQ

6XSHUYLVRUV3URI<RJHQGUD6KDVWUL3URI5LGGKL6LQJK

3K'WRSLFWLWOH&OLPDWHFKDQJHLPSDFWVRQIRRGHQHUJ\ZDWHUQH[XV

5HVHDUFKLQWHUHVWV&OLPDWHFKDQJH$JULFXOWXUH)(:QH[XV2SWLPL]DWLRQ

(GXFDWLRQ 0 7HFK (QYLURQPHQWDO (QJLQHHULQJ DQG 0DQDJHPHQW,,7.KDUDJSXU

$MLQN\D0.KDQGDUH

6XSHUYLVRUV3URI6XELPDO*KRVK3URI.DUWKLNH\DQ/DQND

3K'WRSLFWLWOH'\QDPLFIHHGEDFNPHFKDQLVPIURPYHJHWDWLRQWRFOLPDWH

5HVHDUFK LQWHUHVWV /DQG-DWPRVSKHUH LQWHUDFWLRQ PRQVRRQ G\QDPLFV DQGFOLPDWHPRGHOLQJ

(GXFDWLRQ%6-06GXDOGHJUHH$SSOLHG*HRORJ\,,6(5%KRSDO

$QNDQ&KDNUDERUW\

6XSHUYLVRUV3URI6XEKDQNDU.DUPDNDU3URI6XELPDO*KRVK

3K'WRSLF,QGLDZLGH)ORRG5LVN)RUHFDVWLQJ&RQVLGHULQJ6RFLR-(FRQRPLF'LPHQVLRQV

5HVHDUFKLQWHUHVWV)ORRG5LVN9XOQHUDELOLW\

(GXFDWLRQ07HFK,,7.KDUDJSXU

$GLWL0RGL

6XSHUYLVRUV3URI6XELPDO*KRVK'U5R[\0.,,703XQH

3K'WRSLF8QGHUVWDQGLQJWKHELRSK\VLFDOLQWHUDFWLRQVLQWKHWURSLFDO,QGLDQ2FHDQXQGHUDFKDQJLQJFOLPDWH

5HVHDUFKLQWHUHVWV2FHDQELRJHRFKHPLVWU\(DUWKV\VWHPPRGHOLQJ

(GXFDWLRQ%7HFK&LYLO(QJLQHHULQJ'U$3-$EGXO.DODP8QLYHUVLW\

$LVZDU\D&/

6XSHUYLVRUV3URI6ZDWDQWUD3UDWDS6LQJK3URI6XELPDO*KRVK

3K'WRSLFWLWOH'HVDOLQDWLRQDQG&OLPDWH&KDQJH

5HVHDUFKLQWHUHVWV%ULQHWUHDWPHQW0DULQHHFRV\VWHP

(GXFDWLRQ07HFK(DUWK6\VWHP6FLHQFH,,677KLUXYDQDQWKDSXUDP

CURRENT STUDENTS

$QNXU6ULYDVWDYD

6XSHUYLVRUV3URI6XELPDO*KRVK3URI6XU\DFKDQGUD$5DR

3K'WRSLF7KH,QGLDQ6XPPHU0RQVRRQ([SORULQJWKHUROHRIULYHUUXQRII

5HVHDUFKLQWHUHVWV0RQVRRQDQGLWVGLIIHUHQWPRGHVRIYDULDELOLW\0RQVRRQWHOHFRQQHFWLRQVWƌĞĚŝĐƚĂďŝůŝƚLJ&RXSOHGRFHDQ-DWPRVSKHUHPRGHOOLQJ6HDVRQDO3UHGLFWLRQ

(GXFDWLRQ%7HFK8WWDU3UDGHVK7HFKQLFDO8QLYHUVLW\

$U\DODNVKPL0

6XSHUYLVRUV3URI3UDGLS3.DOEDU3URI6XEKDQNDU.DUPDNDU

3K' WRSLF WLWOH 5HOLDELOLW\ UHVLOLHQFH DQG YXOQHUDELOLW\ DVVHVVPHQW RI XUEDQZDWHUVXSSO\V\VWHPIRUSHUIRUPDQFHHYDOXDWLRQ

5HVHDUFKLQWHUHVWV+\GUDXOLFV:DWHUGLVWULEXWLRQ&OLPDWHYXOQHUDELOLW\

(GXFDWLRQ07HFK:DWHU5HVRXUFHV(QJLQHHULQJ91,71DJSXU

&KDQWKLQJOD+RUDP

6XSHUYLVRUV 3URI$%5DR3URI.1DUD\DQDQ

3K'WRSLFWLWOH 5ROHRI/RFDO,QVWLWXWLRQVDQG&OLPDWH&KDQJH$GDSWDWLRQ

5HVHDUFKLQWHUHVW &OLPDWH$FWLRQV3ODQV/RFDO,QVWLWXWLRQVDQG/RFDO&OLPDWH

(GXFDWLRQ0DVWHUVLQ(QYLURQPHQWDO6FLHQFHV-DZDKDUODO1HKUX8QLYHUVLW\

$QRNKD6KLOLQ

6XSHUYLVRUV 3URI 6XEKDQNDU .DUPDNDU 3URI $USLWD 0RQGDO 3URI 3UDGLS.DOEDU

3K' WRSLF WLWOH 0DSSLQJ 6RFLDO 9XOQHUDELOLW\ DQG 5LVN WR +\GURFOLPDWLF([WUHPHV2YHU,QGLD

5HVHDUFK LQWHUHVWV +\GURFOLPDWLF H[WUHPHV0RQVRRQ YDULDELOLW\ +HDWZDYHV+\GURFOLPDWRORJ\

(GXFDWLRQ07HFK$WPRVSKHULF6FLHQFHV&RFKLQ8QLYHUVLW\ RI6FLHQFH DQG7HFKQRORJ\

$UXVKL6KDUPD

6XSHUYLVRUV3URI&KDQGUD9HQNDWDUDPDQ3URI6XELPDO*KRVK

3K'WRSLFWLWOH$HURVRO(PLVVLRQVDQG5DGLDWLYH)RUFLQJ,PSDFWVRYHU,QGLD+LJK7HPSHUDWXUH([WUHPHV6QRZ3URFHVVHVLQWKH+LPDOD\DDQG)HHGEDFNWR3DUWLFXODWH$LU3ROOXWLRQ

5HVHDUFKLQWHUHVWVDHURVROSURFHVVHVFOLPDWHFKDQJHVXUIDFHWHPSHUDWXUHSDUWLFXODWHDLUSROOXWLRQFOLPDWHPRGHOLQJ

(GXFDWLRQ07HFK,QIRUPDWLRQ6HFXULW\3XQMDE(QJLQHHULQJ&ROOHJH3(&

CURRENT STUDENTS 'HEDVPLWD0DMXPGHU

6XSHUYLVRUV3URI'3DUWKDVDUDWK\3URI7UXSWL0LVKUD

3K' WRSLF WLWOH $VVHVVPHQW RI FXUUHQW *ODFLDO /DNH 2XWEXUVW )ORRG */2)KD]DUGDQGXQGHUO\LQJVRFLR-HFRQRPLFYXOQHUDELOLW\LQVHOHFWHGORFDWLRQVZLWKLQ,QGLDQ+LPDOD\DQ5HJLRQ

5HVHDUFK LQWHUHVWV */2) 6WXG\ DQG 0RGHOOLQJ 6RFLR-HFRQRPLF ULVNYXOQHUDELOLW\0LFURZDYHUHPRWHVHQVLQJ

(GXFDWLRQ 03KLO 'LVDVWHU 0DQDJHPHQW &HQWUH IRU *HR ,QIRUPDWLFV7,66 0XPEDL

(5DYHQGLUDQ

6XSHUYLVRU 3URI'3DUWKDVDUDWK\

3K' WRSLF WLWOH &OLPDWH&KDQJH ,PSDFWV DQG $JULFXOWXUH LQ0DKDUDVKWUD $Q$VVHVVPHQWRI3ROLFLHV$IIHFWLQJ9XOQHUDELOLW\DQG$GDSWLYH&DSDFLW\

5HVHDUFK,QWHUHVW$GDSWDWLRQVWXGLHVSROLF\PDNLQJ

(GXFDWLRQ06F(QYLURQPHQWDO6FLHQFH%KDUDWKLDU8QLYHUVLW\

*DXUDY*DQMLU

6XSHUYLVRU 3URI0-5HGG\

3K'WRSLFWLWOH5LVNDVVHVVPHQWDQGSUHGLFWLRQRIDJULFXOWXUDOGURXJKWVXQGHUFKDQJLQJFOLPDWH

5HVHDUFKLQWHUHVW'URXJKW5LVN$VVHVVPHQWDQG9XOQHUDELOLW\([WUHPH:HDWKHU(YHQWV

(GXFDWLRQ07HFK&OLPDWH6FLHQFHDQG7HFKQRORJ\,,7%KXEDQHVKZDU

'HEGDWWD&KDNUDERUW\

6XSHUYLVRUV3URI'3DUWKDVDUDWK\3URI1&1DUD\DQDQ

3K'WRSLFWLWOH9XOQHUDELOLW\DQG$GDSWDWLRQWR([WUHPH+HDWLQ7HOHQJDQD

5HVHDUFK LQWHUHVWV 6RFLRORJ\ RI &OLPDWH &KDQJH &OLPDWH *RYHUQDQFH9XOQHUDELOLW\DQG$GDSWDWLRQ6WXGLHV

(GXFDWLRQ0$6RFLRORJ\8QLYHUVLW\RI+\GHUDEDG

'HYG\XWL%RVH

6XSHUYLVRUV3URI7UXSWL0LVKUD3URI6XEKDQNDU.DUPDNDU

3K'WRSLFWLWOH(FRQRPLFVRI'LVDVWHUV

5HVHDUFKLQWHUHVWV(FRQRPLFVRIFOLPDWHFKDQJH$GDSWDWLRQ([SHULPHQWDO(FRQRPLFV(FRQRPHWULFVRISURJUDPPHHYDOXDWLRQ

(GXFDWLRQ03KLO(FRQRPLFV-DGDYSXU8QLYHUVLW\

CURRENT STUDENTS

*DXUDY.XPDU0LVKUD

6XSHUYLVRUV3URI9LNUDP9LVKDO3URI$QDQG%5DR

3K'WRSLFWLWOH&2-(25DV&&86LQGHSOHWHGRLOUHVHUYRLUV

5HVHDUFKLQWHUHVW&DUERQFDSWXUHXWLOL]DWLRQDQGVWRUDJH

(GXFDWLRQ%7HFK&KHPLFDO(QJLQHHULQJ+DOGLD,QVWLWXWHRI7HFKQRORJ\

.DYHUL*RJRL

6XSHUYLVRUV3URI'3DUDWKDVDUDWK\3URI1&1DUD\DQDQ

3K' WRSLF WLWOH0DLQVWUHDPLQJDGDSWDWLRQSUDFWLFHVDW IDUPHU OHYHO LQWRSROLF\IUDPHZRUNRI$VVDP

5HVHDUFK LQWHUHVW VRFLDO OLPLWV LQ DGDSWDWLRQ JRYHUQDQFH DQG DGDSWDWLRQSROLF\SRZHUG\QDPLFVLQVKDSLQJDGDSWDWLRQ

(GXFDWLRQ0$6XVWDLQDEOH'HYHORSPHQW7(5,6FKRRORI$GYDQFHG6WXGLHV

.UXWLND7XQGLD

6XSHUYLVRUV 3URI$QDQG%5DR3URI<RJHQGUD6KDVWUL

3K' WRSLF WLWOH 6RFLR-(FRQRPLF DQG (FRORJLFDO ,PSDFW $VVHVVPHQW RI3URVRSLV-XOLIORUDLQ$ULGDQG6HPL-$ULG5HJLRQVRI*XMDUDW

5HVHDUFK LQWHUHVWV (QY 6FLHQFH *,6 UHPRWH VHQVLQJ %LRIXHOV 5HVSRQVH6XUIDFH 0HWKRGRORJ\ ZDWHU DQG ZDVWHZDWHU WUHDWPHQW SODQW GHVLJQ (,$HQYLURQPHQWDOODZ

(GXFDWLRQ07HFK(QYLURQPHQWDO(QJLQHHULQJ1,76XUDW

*LULVK3DWLGDU

6XSHUYLVRUV3URI-,QGX3URI6XEKDQNDU.DUPDNDU

3K'WRSLFWLWOH([DPLQLQJWKHSRWHQWLDORI6:27PLVVLRQLQ+\GURPHWHRURORJ\

5HVHDUFKLQWHUHVW6DWHOOLWHDOWLPHWHU,QODQGZDWHUPRQLWRULQJK\GURG\QDPLFVLPXODWLRQDQGRFHDQFRORUUHPRWHVHQVLQJ

(GXFDWLRQ07HFK&OLPDWH6WXGLHV,,7%KXEDQHVZDU

.DXVKLN0XGXFKXUX

6XSHUYLVRUV&KDQGUD9HQNDWDUDPDQ$PLW.HVDUNDU([W1$5/9LNDV6LQJK([W1$5/

3K' WRSLF WLWOH 5ROH RI DHURVRO-FORXG LQWHUDFWLRQV DQG DHURVRO LQGXFHGDWPRVSKHULFDGMXVWPHQWVLQPHGLDWLQJUDLQIDOOSURFHVVHVRYHU,QGLD

5HVHDUFKLQWHUHVW $HURVRO-FORXG-UDGLDWLRQLQWHUDFWLRQV$HURVROPLFUR-SK\VLFVFOLPDWHH[WUHPHV

(GXFDWLRQ07HFK(DUWK6FLHQFHV,,6F%HQJDOXUX

CURRENT STUDENTS

.XVKDO7LEUHZDO

6XSHUYLVRUV3URI&KDQGUD9HQNDWDUDPDQ3URI+DULVK3KXOHULD

3K' WRSLF WLWOH (PLVVLRQV VFHQDULRV DQG PXOWLSOH LPSDFWV DVVHVVPHQW RILQWHUYHQWLRQVWDUJHWLQJVKRUW-OLYHGFOLPDWHIRUFHUVLQ,QGLD

5HVHDUFKLQWHUHVW(PLVVLRQV0LWLJDWLRQSROLF\&OLPDWHDQGDLUTXDOLW\LPSDFWV

(GXFDWLRQ07HFK0LQLQJ(QJLQHHULQJ1,75RXUNHOD

0DQLVK.XPDU'KDVPDQD

6XSHUYLVRUV 3URI$USLWD0RQGDO3URI6XEKDQNDU.DUPDNDU

3K' WRSLF WLWOH $WWULEXWLRQ RI H[WUHPH IORRGLQJ HYHQWV WR FOLPDWH FKDQJH DWUHJLRQDOVFDOH

5HVHDUFK LQWHUHVW ([WUHPH HYHQW DWWULEXWLRQ )ORRG ULVN +\GURORJLFDOPRGHOOLQJ+\GUDXOLFPRGHOOLQJ

(GXFDWLRQ%7HFK&LYLO(QJLQHHULQJ3*'LQ56DQG*,6ZLWKVSHFLDOLVDWLRQLQ:DWHU5HVRXUFHV

0DQPHHW6LQJK

6XSHUYLVRUV 3URI&KDQGUD9HQNDWDUDPDQ'U5.ULVKQDQ'U$\DQWLND'H\&KRXGKXU\

3K'WRSLFWLWOH5ROHRIYROFDQLFDQGDQWKURSRJHQLFDHURVROVRQWKHWURSLFDORFHDQ-DWPRVSKHUH-ODQGFRXSOHGV\VWHP DQGWKH6RXWK$VLDQ0RQVRRQ

5HVHDUFKLQWHUHVW&OLPDWHVFLHQFH'HHSOHDUQLQJ

(GXFDWLRQ%(&LYLO(QJLQHHULQJ7KDSDU8QLYHUVLW\3DWLDOD

0DKHVZDU3UDGKDQ

6XSHUYLVRU3URI6ULGKDU%DODVXEUDPDQLDQ

3K'WRSLFWLWOH,PSURYLQJ$LU-6HD,QWHUDFWLRQLQ&RXSOHG0RGHOV

5HVHDUFKLQWHUHVW$LU-6HD,QWHUDFWLRQLQ&RXSOHGPRGHOV

(GXFDWLRQ%7HFK&ROOHJHRI(QJLQHHULQJDQG7HFKQRORJ\%KXEDQHVZDU

0DQGDU*XUDY

6XSHUYLVRU 3URI6KLYDVXEUDPDQLDQ*RSDODNULVKQDQ

3K'WRSLFWLWOH'HYHORSPHQWRIVFDODEOHSDUDOOHODOJRULWKPVIRUDWPRVSKHUHDQGRFHDQPRGHOLQJ

5HVHDUFK LQWHUHVW 3DUDOOHOL]DWLRQ RI 6FLHQWLILF FRGHV +HWHURJHQHRXV +LJK3HUIRUPDQFH&RPSXWLQJ3HUIRUPDQFH$QDO\VLVRISURJUDPVDQGRSWLPL]DWLRQ

(GXFDWLRQ %( &RPSXWHU 6FLHQFH (QJLQHHULQJ :DOFKDQG &ROOHJH RI(QJLQHHULQJ6DQJOL

CURRENT STUDENTS

0DQVL*RHO

6XSHUYLVRUV3URI7UXSWL0LVKUD3URI5DQJDQ%DQHUMHH

3K'WRSLFWLWOH/RZ&DUERQ3ROLF\LQ060(VLQ,QGLD

5HVHDUFKLQWHUHVW/RZ-FDUERQHFRQRP\HQHUJ\-HIILFLHQF\SROLF\FOLPDWHSROLF\

(GXFDWLRQ06F(QYLURQPHQWDO0DQDJHPHQW**6,381HZ'HOKL

0RXVXPL6DUNDU

6XSHUYLVRUV3URI0DQDVD5%HKHUD3URI6ULGKDU%DODVXEUDPDQLDQ

3K' WRSLF WLWOH 2FHDQPL[LQJ LQ QRUWKHUQ ,QGLDQ 2FHDQ XVLQJ0RGXODU 2FHDQ0RGHO020DQGWKHLULPSDFWRQFOLPDWH

5HVHDUFK LQWHUHVW QXPHULFDO RFHDQ PRGHOOLQJ RFHDQ G\QDPLFV RFHDQSURFHVVHV%D\RI%HQJDO,QGLDQ2FHDQ

(GXFDWLRQ %7HFK ,QIRUPDWLRQ WHFKQRORJ\ :HVW %HQJDO 8QLYHUVLW\ RI7HFKQRORJ\

0XKDPPHG5DVKLG

6XSHUYLVRU3URI'3DUWKDVDUDWK\

3K'7RSLF7R%H'HFLGHG

5HVHDUFKLQWHUHVWV9XOQHUDELOLW\DQG$GDSWDWLRQWR&OLPDWH&KDQJH

(GXFDWLRQ0$'HYHORSPHQW6WXGLHV,,70DQGL

0DWULND*KLPLUD\

6XSHUYLVRUV3URI5DQJDQ%DQHUMHH3URI$QDQG%5DR

3K' WRSLF WLWOH$VVHVVPHQWRI ,QWHUOLQNDJHVEHWZHHQ6XVWDLQDEOH'HYHORSPHQWDQG&OLPDWH$FWLRQ

5HVHDUFK LQWHUHVW &OLPDWH DFWLRQ 6'*V FOLPDWH SROLF\ V\VWHPV WKLQNLQJVXVWDLQDEOHGHYHORSPHQW

(GXFDWLRQ07HFK(QHUJ\7HFKQRORJ\1,7+DPLUSXU

0RXVXPL*KRVK

6XSHUYLVRUV 3URI6XEKDQNDU.DUPDNDU3URI6XELPDO*KRVK

3K'WRSLFWLWOH )ORRGPDQDJHPHQWIRUDQXUEDQFRDVWDOFDWFKPHQW,PSOLFDWLRQVRQQHDUUHDO-WLPHULVNIRUHFDVWLQJDQGPDSSLQJ

5HVHDUFKLQWHUHVW +\GURFOLPDWRORJ\)ORRGULVNPDQDJHPHQW)ORRGIRUHFDVWLQJ6RFLR-K\GURORJ\+\GURORJLFPRGHOOLQJ0DFKLQHOHDUQLQJ

(GXFDWLRQ07HFK:DWHU5HVRXUFHV(QJLQHHULQJ1,75RXUNHOD

CURRENT STUDENTS 1DPDQ*XSWD

6XSHUYLVRUV3URI7UXSWL0LVKUD3URI'3DUWKDVDUDWK\

3K' WRSLF WLWOH $VVHVVPHQW RI 0DQJURYH (FRV\VWHP DQG ,QFHQWLYH-%DVHG0HFKDQLVPV WR8QGHUVWDQG7KHLU5ROH LQ&OLPDWH0LWLJDWLRQDQG$GDSWDWLRQ$FDVHRI0XPEDL0HWURSROLWDQ5HJLRQ

5HVHDUFK LQWHUHVW &OLPDWH SROLF\ FOLPDWH ILQDQFH HFRV\VWHP VHUYLFHV FOHDQHQHUJ\

(GXFDWLRQ 03KLO (QYLURQPHQWDO 3ODQW 3K\VLRORJ\ +LJK $OWLWXGH 3ODQW3K\VLRORJ\5HVHDUFK&HQWUH*DUKZDO8QLYHUVLW\

33DOODYL

6XSHUYLVRU3URI'3DUWKDVDUDWK\

3K'WRSLFWLWOH&RDVWDO6RFLR-HFRORJLFDOYXOQHUDELOLW\IURP&OLPDWHFKDQJH

5HVHDUFKLQWHUHVW&OLPDWHFKDQJHLPSDFWV

(GXFDWLRQ06F(QYLURQPHQWDO6FLHQFHV-DZDKDUODO1HKUX8QLYHUVLW\

3RRMD0DQZDQL

6XSHUYLVRUV 3URI+DULVK3KXOHULD3URI&KDQGUD9HQNDWDUDPDQ

3K' WRSLF WLWOH &KDUDFWHUL]DWLRQ DQG VRXUFH DSSRUWLRQPHQW RI DPELHQW ILQHSDUWLFXODWHPDWWHU

5HVHDUFK LQWHUHVW $WPRVSKHULF 6FLHQFH $LU 3ROOXWLRQ $WPRVSKHULF $HURVROV$HURVRO &KDUDFWHUL]DWLRQ 6RXUFH $SSRUWLRQPHQW )DFWRU $QDO\VLV &OLPDWH&KDQJH

(GXFDWLRQ06F$WPRVSKHUHDQG2FHDQ6FLHQFHV,,7%KXEDQHVZDU

1DYLQ\D'LOLS&KLPXUNDU

6XSHUYLVRUV3URI+DULVK3KXOHULD3URI&KDQGUD9HQNDWDUDPDQ

3K' WRSLF &KDUDFWHUL]DWLRQ RI JDVHV DQG DHURVROV HPLVVLRQV IURP WKH QRQFRRNLQJUHVLGHQWLDOVHFWRURYHU,QGLD

5HVHDUFK LQWHUHVW $LU SROOXWLRQ DQG DLU TXDOLW\ DHURVROV DQG UDGLDWLRQLQWHUDFWLRQV$LUTXDOLW\LQVWUXPHQWDWLRQ

(GXFDWLRQ07HFK&OLPDWH6FLHQFHDQG7HFKQRORJ\,,7%KXEDQHVZDU

1DQGLQL6XUHVK

6XSHUYLVRUV3URI7UXSWL0LVKUD3URI'3DUWKDVDUDWK\

3K'WRSLFWLWOH'LVDVWHU5LVN)LQDQFLQJLQ,QGLD

5HVHDUFKLQWHUHVW&OLPDWHILQDQFHFOLPDWHHFRQRPLFV

(GXFDWLRQ06F(FRQRPLFV3RQGLFKHUU\8QLYHUVLW\

CURRENT STUDENTS 3UL\DP3UDVDPELW7ULSDWK\

6XSHUYLVRUV3URI3UDGLS.DOEDU

3K'WRSLFWLWOH$VVHVVLQJ3DWKZD\VIRU,PSURYHPHQWVLQ,URQDQG6WHHOVHFWRUIRU0HHWLQJ,QGLD¶V&OLPDWH*RDOV

5HVHDUFK LQWHUHVW 6XVWDLQDELOLW\ DQDO\VLV RI ,QGLDQ ,QGXVWULHV HFRQRPLFDVVHVVPHQW RI PLWLJDWLRQ RSWLRQV HQHUJ\ VXVWDLQDELOLW\ PDQXIDFWXULQJVXVWDLQDELOLW\

(GXFDWLRQ 07HFK 3URGXFWLRQ (QJLQHHULQJ 9HHU 6XUHQGUD 6DL 8QLYHUVLW\ RI7HFKQRORJ\96687

5DMHVK2&KDXKDQ

6XSHUYLVRUV 3URI6ULGKDU%DODVXEUDPDQLDP3URI0DQDVD5%HKHUD

3K' WRSLF WLWOH 0RGHOLQJ WKH VHDVRQDOLW\ RI VXUIDFH DQG VXE-VXUIDFHSURFHVHVVHVLQDUHJLRQDO,QGLDQ2FHDQXVLQJ0RGXODURFHDQPRGHO

5HVHDUFKLQWHUHVW 2FHDQG\QDPLFVDQGDVVRFLDWHGPL[LQJ

(GXFDWLRQ07HFK(QHUJ\(QJLQHHULQJ.-6RPDL\D&ROOHJHRI(QJLQHHULQJ

5HVKPD6KLQGH

6XSHUYLVRUV3URI<RJHQGUD6KDVWUL3URI$QDQG%5DR

3K'WRSLF,PSDFWVRIFOLPDWHFKDQJHRQWKHSRZHUVHFWRUVRI,QGLD

5HVHDUFK,QWHUHVWVFOLPDWHFKDQJHHQHUJ\VHFWRU/&$VWXGLHVPRGHOLQJDQGVLPXODWLRQZDWHUUHVRXUFHVDQGIXWXUHDYDLODELOLW\

(GXFDWLRQ07HFK&KHPLFDO(QJLQHHULQJ7.,(7:DUDQDQDJDU

3UL\DQND-DMDO

6XSHUYLVRUV 3URI7UXSWL0LVKUD3URI&KDQGUD9HQNDWUDPDQ

3K'WRSLFWLWOH ,QGLDQ&RQVWUXFWLRQ5DZ0DWHULDO,QGXVWU\&OLPDWH(PLVVLRQVDQG7HPSHUDWXUH&KDQJH0LWLJDWLRQ3RWHQWLDO

5HVHDUFKLQWHUHVW (PLVVLRQ0LWLJDWLRQ

(GXFDWLRQ03ODQQLQJ&(378QLYHUVLW\

3XMD7ULSDWK\

6XSHUYLVRUV 3URI (VZDU 5DMDVHNDUDQ 3URI 3HQQDQ &KLQQDVDP\ 3URI5$$- 5DPVDQNDUDQ

3K' WRSLF 5HJLRQDO FURS VXLWDELOLW\ PRGHOOLQJ 7RZDUGV VXVWDLQDEOHFURSSLQJ V\VWHPV XQGHUFOLPDWH FKDQJHDQG IXWXUHZDWHU DYDLODELOLW\

5HVHDUFKLQWHUHVWV&OLPDWH&KDQJH:DWHUDYDLODELOLW\$JULFXOWXUH

(GXFDWLRQ07HFK:DWHU5HVRXUFH(QJLQHHULQJ1,75RXUNHOD

CURRENT STUDENTS

5LSDQ'DV

6XSHUYLVRU3URI6XELPDO*KRVK

3K'WRSLFWLWOH&DUERQVHTXHVWUDWLRQSRWHQWLDORIJUHHQHU,QGLD

5HVHDUFKLQWHUHVW5HPRWHVHQVLQJDSSOLFDWLRQRQ7HUUHVWULDO9HJHWDWLRQ

(GXFDWLRQ06F2FHDQDQG$WPRVSKHULF6FLHQFHV8QLYHUVLW\RI+\GHUDEDG

6DFKLQ%XGDNRWL

6XSHUYLVRUV3URI6XELPDO*KRVK3URI6XEKDQNDU.DUPDNDU

3K'WRSLFWLWOH )HHGEDFNIURPG\QDPLFYHJHWDWLRQWR,QGLDQVXPPHUPRQVRRQ

5HVHDUFKLQWHUHVW/DQG$WPRVSKHUH,QWHUDFWLRQV

(GXFDWLRQ 07HFK 5HPRWH 6HQVLQJ *,6 ZLWK VSHFLDOL]DWLRQ LQ 0DULQH $WPRVSKHULF6FLHQFHV,,56'HKUDGXQ

6DPSHOOL$QRRS

6XSHUYLVRUV 3URI6XELPDO*KRVK3URI6XEKDQNDU.DUPDNDU

3K'WRSLFWLWOH &RQWULEXWLRQVRIVRLOYHJHWDWLRQLQWHUDFWLRQVWR:DWHU&\FOH

5HVHDUFKLQWHUHVW /DQGVXUIDFHSURFHVVHV

(GXFDWLRQ%7HFK3K\VLFDO6FLHQFHV,QGLDQ,QVWLWXWHRI6SDFH6FLHQFHDQG7HFKQRORJ\

5LVKDEK6KDUPD

6XSHUYLVRUV3URI6ZDWDQWUD3UDWDS6LQJK3URI3UDGLS.DOEDU

3K'WRSLFWLWOH'HVDOLQDWLRQDQGDVVRFLDWHGFOLPDWHFKDQJH

5HVHDUFKLQWHUHVW0HPEUDQH6WXGLHV(OHFWURFDWDO\VLV'HVDOLQDWLRQDQGZDVWHZDWHUWUHDWPHQW(PLVVLRQ,QYHQWRU\DQG/LIH&\FOH$VVHVVPHQW/&$

(GXFDWLRQ06F(QYLURQPHQW6FLHQFHV'&58QLYHUVLW\RI6FLHQFH7HFKQRORJ\0XUWKDO+DU\DQD

5RVKDQ-KD

6XSHUYLVRUV3URI$USLWD0RQGDO3URI6XELPDO*KRVK

3K' WRSLF WLWOH 8QGHUVWDQGLQJ WKH UROH RI ODQG DQG DWPRVSKHULF FLUFXODWLRQGXULQJVXPPHUKHDWZDYHVLQ,QGLD

5HVHDUFK LQWHUHVW +\GURPHWHRURORJ\ +HDW H[WUHPHV ODQG-DWPRVSKHUHLQWHUDFWLRQ

(GXFDWLRQ07HFK:DWHU5HVRXUFHV(QJLQHHULQJ,,7%RPED\

CURRENT STUDENTS

6D\DQWDQ0DQGDO

6XSHUYLVRUV 3URI5DDM5DPVDQNDUDQ3URI.DUWKLNH\DQ/DQND

3K'WRSLFWLWOH+LPDOD\DQ*ODFLHUHYROXWLRQXQGHU&OLPDWH&KDQJHVFHQDULR

5HVHDUFKLQWHUHVW*ODFLHUHYROXWLRQHQKDQFHPHQWRIQXPHULFDOJODFLHULFHIORZPRGHOV FOLPDWH FKDQJH VFHQDULRV 'HHS OHDUQLQJ DVVLVWHG JODFLHU LFH IORZPRGHOV

(GXFDWLRQ07HFK&OLPDWH&KDQJH,,7+\GHUDEDG

6LGGKHVK$VKRN7LURGNDU

6XSHUYLVRUV3URI6ULGKDU%DODVXEUDPDQLDQ3URI0DQDVD5DQMDQ%HKHUD

3K'WRSLFWLWOH$VHQVLWLYLW\VWXG\RIYHUWLFDOPL[LQJVFKHPHRQVXUIDFHVXE-VXUIDFHSURSHUWLHVHQHUJHWLFVLQ%D\RI%HQJDO

%URDGUHVHDUFKLQWHUHVWV1XPHULFDOPRGHOOLQJ2FHDQG\QDPLFV%D\RI%HQJDOVWXG\

(GXFDWLRQ07HFK0HFKDQLFDO(QJLQHHULQJ.-6RPDL\DFROOHJHRIHQJLQHHULQJ8QLYHUVLW\RI0XPEDL

6RKDQD'HEEDUPD

6XSHUYLVRUV 3URI+DULVK&3KXOHULD3URI&KDQGUD9HQNDWDUDPDQ

3K'WRSLFWLWOH 5HGXFLQJXQFHUWDLQWLHVLQWKHHVWLPDWLRQRIUHDO-ZRUOGYHKLFXODUIOHHWHPLVVLRQIDFWRURIFDUERQDFHRXVDHURVROV

5HVHDUFKLQWHUHVW $LU3ROOXWLRQ&DUERQDFHRXV$HURVROV9HKLFXODU(PLVVLRQV

(GXFDWLRQ0DVWHUVRI3ODQQLQJ6FKRRORI3ODQQLQJDQG$UFKLWHFWXUH1HZ'HOKL

6KLNKD6LQJK

6XSHUYLVRUV3URI6ULGKDU%DODVXEUDPDQLDQ3URI6XELPDO*KRVK

3K'WRSLFWLWOH$PRGHOLQJVWXG\RQXSSHURFHDQSURFHVVHVPL[LQJG\QDPLFVDQGGHHSRFHDQELDVHVLQWKHWURSLFDO,QGLDQ2FHDQ

5HVHDUFKLQWHUHVW2FHDQRJUDSK\2FHDQ0RGHOLQJ0DFKLQH/HDUQLQJ

(GXFDWLRQ%7HFK&KHPLFDO(QJLQHHULQJ 0RWLODO1HKUX1DWLRQDO,QVWLWXWHRI7HFKQRORJ\$OODKDEDG

6LQGKXMD.DVWKDOD

6XSHUYLVRUV 3URI'3DUWKDVDUDWK\3URI.1DUD\DQDQ3URI$UXQ,QDPGDU

3K' WRSLF WLWOH$VVHVVLQJ FRDVWDO YXOQHUDELOLW\ WR FOLPDWH FKDQJH- WKH FDVHRI0DKDUDVKWUD,QGLD

5HVHDUFK LQWHUHVW &RDVWDO YXOQHUDELOLW\ &RDVWDO SROLFLHV ,QWHJUDWHG &RDVWDO=RQH0DQDJHPHQW

(GXFDWLRQ07HFK'LVDVWHU0LWLJDWLRQDQG0DQDJHPHQW,,75RRUNHH

CURRENT STUDENTS

6RPD6DW\D3UDYHHQ0XW\DOD

6XSHUYLVRU 3URI6XELPDO*KRVK

3K' WRSLF WLWOH ,QIOXHQFH RI 6RLO 0RLVWXUH DQG 6RLO 0RLVWXUH-$WPRVSKHUH)HHGEDFNRQ/DQG&DUERQ8SWDNH

5HVHDUFKLQWHUHVW7HUUHVWULDO&DUERQ&\FOH

(GXFDWLRQ %7HFK 3K\VLFDO 6FLHQFHV ,QGLDQ ,QVWLWXWH RI 6SDFH 6FLHQFH DQG7HFKQRORJ\

6XMLW0DML

6XSHUYLVRUV 3URI&KDQGUD9HQNDWDUDPDQ3URI$EKLVKHN&KDNUDERUW\

3K'WRSLFWLWOH,QIOXHQFHRIDQWKURSRJHQLFHPLVVLRQVHFWRUVDQGRUJDQLFDHURVROIRUPDWLRQPHFKDQLVPVRQDHURVRODEXQGDQFHDQGUDGLDWLYHIRUFLQJRYHU,QGLD

5HVHDUFKLQWHUHVW$WPRVSKHULF&KHPLVWU\$HURVRO&OLPDWH

(GXFDWLRQ06F&KHPLVWU\,,7.DQSXU

6ZDWL6KULQLZDV6KLQGH

6XSHUYLVRUV3URI'3DUWKDVDUDWK\3URI1&1DUD\DQDQ

3K' WRSLF WLWOH &OLPDWH &KDQJH 8UEDQ )ORRGLQJ DQG 7UDQVIRUPDWLRQV LQ0XPEDL

5HVHDUFKLQWHUHVW8UEDQ7UDQVIRUPDWLRQVDQG&OLPDWH&KDQJH

(GXFDWLRQ03ODQ&(378QLYHUVLW\

6UHHQLYDV&KLJXOODSDOOL

6XSHUYLVRU3URI$QDQG%5DR

3K' WRSLF WLWOH 7HFKQR-HFRQRPLF $VVHVVPHQW RI WKH WUDQVSRUWDWLRQ ELRIXHOSURGXFWLRQLQ,QGLD

5HVHDUFKLQWHUHVWV%LRPDVVDQG%LRHQHUJ\&OLPDWH3ROLF\

(GXFDWLRQ07HFK,,7%RPED\

6ULQDWK+DUDQ,\HU

6XSHUYLVRUV3URI$QDQG%5DR3URI5DQJDQ%DQHUMHH

3K'WRSLFWLWOH$VVHVVPHQWRIFDUERQFDSWXUHDQGVWRUDJH&&6WHFKQRORJLHVIRUFRDOSRZHUSODQWVLQ,QGLD

5HVHDUFKLQWHUHVW(QHUJ\DQG(QYLURQPHQW7HFKQR-HFRQRPLFDQDO\VLV/LIHF\FOHDQDO\VLV&DUERQFDSWXUHDQGVWRUDJH

(GXFDWLRQ07HFK0HFKDQLFDO(QJLQHHULQJ,,70DGUDV

CURRENT STUDENTS

7DQQX

6XSHUYLVRUV 3URI$UQDE'XWWD3URI9LNUDP9LVKDO

3K'WRSLFWLWOH 'HYHORSLQJKHWHURVWUXFWXUHSODVPRQLF SKRWRFDWDO\VWVIRU&2UHGXFWLRQLQWRYDOXH-DGGHGIXHOVJUHHQK\GURJHQSURGXFWLRQE\KDUQHVVLQJVRODUHQHUJ\

5HVHDUFKLQWHUHVW3ODVPRQLFQDQRPDWHULDOV+RPRJHQHRXV+HWHURJHQHRXV3KRWRHOHFWURFDWDO\VWV&2UHGXFWLRQ*UHHQ+\GURJHQSURGXFWLRQ

(GXFDWLRQ06F&KHPLVWU\,,7*DQGKLQDJDU

9LNDV.XPDU

6XSHUYLVRUV3URI0DQRUDQMDQ6DKX3URI%DVXGHY%LVZDO

3K' WRSLF 'HYHORSPHQW RI )UDPHZRUN IRU 1HDU 5HDO-7LPH $HURVRO0RQLWRULQJDQG $LU3ROOXWLRQ0DQDJHPHQWLQ 8UEDQ$UHD

5HVHDUFKLQWHUHVW$LU3ROOXWLRQ$LU4XDOLW\0DQDJHPHQW0DFKLQH/HDUQLQJ

(GXFDWLRQ%7HFK0HFKDQLFDO(QJLQHHULQJ1,7$UXQDFKDO3UDGHVK

9LNUDP6LQJK&KDQGHO

6XSHUYLVRUV3URI6XELPDO*KRVK3URI6XEKDQNDU.DUPDNDU

3K' WRSLF WLWOH (YDOXDWLRQ RI ELDV FRUUHFWLRQ WHFKQLTXHV DQG UHGXFLQJXQFHUWDLQW\LQ(DUWK6\VWHP0RGHORXWSXWVXVLQJ(PHUJHQW&RQVWUDLQWV

5HVHDUFK LQWHUHVW +\GURORJLFDO 0RGHOLQJ +LPDOD\DQ +\GURORJ\ %LDV&RUUHFWLRQ DQG 6WDWLVWLFDO 'RZQVFDOLQJ ,QGLDQ 0RQVRRQ DQG LWV7HOHFRQQHFWLRQV(PHUJHQWFRQVWUDLQWV

(GXFDWLRQ07HFK&LYLO(QJLQHHULQJ,,7%RPED\

7DYHHQ6LQJK.DSRRU

6XSHUYLVRUV3URI+DULVK3KXOHULD3URI&KDQGUD9HQNDWDUDPDQ

3K' WRSLF WLWOH 8QGHUVWDQGLQJ RSWLFDO SURSHUWLHV DQG UDGLDWLYH LPSDFW RIDPELHQWDHURVROVDQGDJULFXOWXUDOUHVLGXHEXUQLQJHPLVVLRQV

5HVHDUFK LQWHUHVW $HURVRO PHDVXUHPHQWV $HURVRO RSWLFDO SURSHUWLHV$JULFXOWXUDOUHVLGXHEXUQLQJHPLVVLRQV(PLVVLRQLQYHQWRU\

(GXFDWLRQ%7HFK0HFKDQLFDO(QJLQHHULQJ1,77ULFK\

7XVKDU$UXQNXPDU%RVH

6XSHUYLVRUV3URI3UDGLS.DOEDU3URI$USLWD0RQGDO

3K' WRSLF WLWOH$SSOLFDWLRQRI/RZ ,PSDFW'HYHORSPHQW6WUDWHJLHV IRU8UEDQ)ORRG0DQDJHPHQW

5HVHDUFKLQWHUHVW8UEDQLQIUDVWUXFWXUHLPSDFWDVVHVVPHQWFOLPDWHDGDSWLRQIRUFLWLHV

(GXFDWLRQ03ODQ&(378QLYHUVLW\

CURRENT STUDENTS

9LVKQX8.ULVKQDQ

6XSHUYLVRUV3URI.DUWKLNH\DQ/DQND3URI,QGX-

3K'WRSLF6RLOPRLVWXUHHVWLPDWLRQXVLQJK\SHUUHVROXWLRQODQGVXUIDFHPRGHO

5HVHDUFKLQWHUHVW+\GUR-FOLPDWRORJ\H[WUHPHHYHQWVUHPRWHVHQVLQJ

(GXFDWLRQ07HFK:DWHU5HVRXUFHV(QJLQHHULQJ91,71DJSXU

=LQLD.DU

6XSHUYLVRUV3URI7UXSWL0LVKUD3URI5DQJDQ%DQHUMHH

3K'WRSLFWLWOH'HFDUERQL]DWLRQLQWKHEXLOGLQJVHFWRU

5HVHDUFKLQWHUHVW0LWLJDWLRQLQWKHEXLOWHQYLURQPHQWVRODUSDVVLYHDUFKLWHFWXUHFLUFXODUHFRQRP\

(GXFDWLRQ0$UFK6XVWDLQDEOH$UFKLWHFWXUH1,7+DPLUSXU

$QDQG$FKDUL

6XSHUYLVRUV 3URI7UXSWL0LVKUD3URI%DNXO5DR

3K' WRSLF WLWOH$FKLHYLQJDGDSWLYH WKHUPDOFRPIRUW LQ UHVLGHQWLDOEXLOGLQJV$QDSSURDFKWRZDUGVORZFDUERQFLW\

5HVHDUFK LQWHUHVW &OLPDWH 5HVSRQVLYH 'HVLJQ (QHUJ\ (IILFLHQW 'HVLJQ(QHUJ\ 6LPXODWLRQ %XLOGLQJ 6LPXODWLRQ 6XVWDLQDELOLW\ &RPSXWDWLRQDO )OXLG'\QDPLFV

(GXFDWLRQ0$UFK$FDGHP\RI$UFKLWHFWXUH5DFKDQD6DQVDG

CURRENT POSTDOCTORAL FELLOWS

'U6DQJKLWD%DVX

6XSHUYLVRUV3URI7UXSWL0LVKUDDQG3URI5DQJDQ%DQHUMHH

3RVWGRFUHVHDUFKDUHD 3ROLF\WRZDUGV&OLPDWH&KDQJH0LWLJDWLRQ

5HVHDUFKLQWHUHVWV/RZ&DUERQ6WUDWHJLHVDQG3ROLF\5HVSRQVHVWR&OLPDWH&KDQJH6XVWDLQDELOLW\DQDO\WLFVDQGPRGHOLQJ (FRQRPHWULFVDQG4XDQWLWDWLYH6LPXODWLRQ7HFKQLTXHV4XDOLW\0DQDJHPHQW3URGXFWLRQ3ODQQLQJDQG2SHUDWLRQV3URGXFW'HYHORSPHQW6WUDWHJLHV

(GXFDWLRQ3K'&KHPLFDO(QJLQHHULQJ1,7'XUJDSXU

'U6KUDEDQL6DLODMD7ULSDWK\

6XSHUYLVRUV3URI6XELPDO*KRVKDQG3URI6XEKDQNDU.DUPDNDU

3RVWGRFUHVHDUFKDUHD5HDO-WLPHIORRGULVNIRUHFDVWLQJDQGHYDFXDWLRQ

5HVHDUFKLQWHUHVWV6WDWLVWLFDOPRGHOLQJ)ORRGULVN(YDFXDWLRQVWUDWHJ\2SWLPL]DWLRQ

(GXFDWLRQ3K','3&OLPDWH6WXGLHV,,7%RPED\

'U6LGGKL*DUJ

6XSHUYLVRUV3URI3HQQDQ&KLQQDVDP\DQG3URI5DDM5DPVDQNDUDQ 3RVWGRFUHVHDUFKDUHD$VVHVVPHQWRIFKDQJHVLQ&KHQDEEDVLQJODFLHUVLQUHVSRQVHWRFOLPDWHFKDQJH

5HVHDUFKLQWHUHVWV*HRPRUSKRORJ\*ODFLRORJ\DQG5HPRWHVHQVLQJ

(GXFDWLRQ3K'*HRORJ\%DQDUDV+LQGX8QLYHUVLW\

ALUMNI IN ACADEMIA 'U$SDUQD'ZLYHGL

$VVLVWDQW3URIHVVRU

6LU--&ROOHJHRI$UFKLWHFWXUH

0XPEDL0DKDUDVKWUD,QGLD

'U.ULVKQD0DODNDU

$VVLVWDQW3URIHVVRU

+XPDQLWLHV6RFLDO6FLHQFHV

,,70DGUDV

&KHQQDL7DPLO1DGX,QGLD

'U0DQLVKD-DLQ

$VVLVWDQW3URIHVVRU

,QGLUD*DQGKL,QVWLWXWHRI'HYHORSPHQW5HVHDUFK,*,'5

0XPEDL0DKDUDVKWUD,QGLD

'U'HHSLND6ZDPL

$VVLVWDQW3URIHVVRU

'HSDUWPHQWRI6XVWDLQDEOH(QHUJ\(QJLQHHULQJ

,,7.DQSXU

.DQSXU8WWDU3UDGHVK,QGLD

'U+LWHVKUL6KDVWUL

3URIHVVRU

063DWHO'HSDUWPHQWRI&LYLO(QJLQHHULQJ

&63DWHO,QVWLWXWHRI7HFKQRORJ\&63,7

&KDURWDU8QLYHUVLW\RI6FLHQFH7HFKQRORJ\&+$586$7

$QDQG*XMDUDW,QGLD

'U3DQNDM6DGDYDUWH

6FLHQWLVW-&

65211HWKHUODQGV,QVWLWXWHIRU6SDFH5HVHDUFK

1HWKHUODQGV

'U6XSDQWKD3DXO

$VVLVWDQW3URIHVVRU

'HSDUWPHQWRI&LYLO(QJLQHHULQJ

7,71DUVLQJDUK

$JDUWDOD7ULSXUD,QGLD

'U1LWLQ3DWLO

6SHFLDOLVW6FLHQWLVW

:HDWKHU0RGHOOLQJ*URXS

+HZOHWW-3DFNDUG

%HQJDOXUX.DUQDWDND,QGLD

'U7DUXO8PDNDQW6KDUPD

5HVHDUFKHU-&OLPDWHFKDQJHDQGZDWHUULVNPRGHOHU

,QWHUQDWLRQDO:DWHU0DQDJHPHQW,QVWLWXWH,:0,

1HZ'HOKL,QGLD

/DWH'U3UDVKDQW'DYH

$WPRVSKHULF6FLHQWLVW

1H[W1DY

'U$QNXU3DQGLW

6FLHQWLVW

7DWD&RQVXOWDQF\6HUYLFHV7&65HVHDUFK,QQRYDWLRQ

0XPEDL0DKDUDVKWUD,QGLD

ALUMNI IN INDUSTRY

ALUMNI IN RESEARCH & DEVELOPMENT

'U$QMDQD'HYDQDQG

3RVWGRFWRUDO5HVHDUFK)HOORZ

&HQWUHRI([FHOOHQFHIRU&OLPDWH([WUHPHV

&OLPDWH&KDQJH5HVHDUFK&HQWUH&&5&

8QLYHUVLW\RI1HZ6RXWK:DOHV816:

6\GQH\$XVWUDOLD

'U3DQNDM.XPDU

3RVWGRFWRUDOIHOORZ

4DWDU(QYLURQPHQWDQG(QHUJ\5HVHDUFK,QVWLWXWH

4DWDU

'U3L\DOL&KRZGKXU\

6HQLRU&RDVWDO3URFHVVHV6FLHQWLVW

&HQWUHIRU(QYLURQPHQW)LVKHULHVDQG$TXDFXOWXUH6FLHQFH&HIDV

8QLWHG.LQJGRP

'U-D\DVDQNDU7

5HVHDUFKHU

1RUWKXPEULD8QLYHUVLW\

1HZ&DVWOH8.

'U1DPLWD6LQJK

5HVHDUFK$VVRFLDWH

7KH,QWHUQDWLRQDO&RXQFLORQ&OHDQ7UDQVSRUWDWLRQ

*XZDKDWL$VVDP,QGLD

ALUMNI IN RESEARCH & DEVELOPMENT

'U3UDWLPDQ3DWHO

3RVWGRFWRUDO)HOORZ

1DWLRQDO8QLYHUVLW\RI6LQJDSRUH

6LQJDSRUH

'U5DNHVK6LQKD

6SHFLDOLVW&DWDVWURSKLF$GYLVRU\

0DUVK0F/HQQDQ

0XPEDL0DKDUDVKWUD,QGLD

'U6KUDEDQL6DLODMD7ULSDWK\

3RVWGRFWRUDO)HOORZ

,'3LQ&OLPDWH6WXGLHV

,,7%RPED\

0XPEDL0DKDUDVKWUD,QGLD

'U6ZDWL6LQJK

5HVHDUFK(QJLQHHU

8QLYHUVLW\RI5HXQLRQ

)UDQFH

STAFF MEMBERS

$5&+,60,7$%$1(5-((

3URMHFW0DQDJHU 'HSDUWPHQWRI6FLHQFHDQG7HFKQRORJ\VSRQVRUHG&HQWUHRI([FHOOHQFHLQ&OLPDWH6WXGLHV'67-&R(&6,,7%RPED\

$5,-,7$3$/

3URMHFW0DQDJHU 1DWLRQDO&DUERQDFHRXV$HURVROV3URJUDPPH-&DUERQDFHRXV$HURVRO(PLVVLRQV6RXUFHDSSRUWLRQPHQWDQG&OLPDWH,PSDFWV1&$3-&2$/(6&(3URMHFW ,,7%RPED\

.$/<$1,621$:$1(

6\VWHP$GPLQLVWUDWRU6RIWZDUH(QJLQHHU (6(','3&6 ,,7%RPED\

0$18%+$1'$5,

$VVLVWDQW3URMHFW0DQDJHU 1DWLRQDO&DUERQDFHRXV$HURVROV3URJUDPPH-&DUERQDFHRXV$HURVRO(PLVVLRQV6RXUFHDSSRUWLRQPHQWDQG&OLPDWH,PSDFWV1&$3-&2$/(6&(3URMHFW ,,7%RPED\

35,<$1.$.+27

3URMHFW$VVLVWDQW 1DWLRQDO&DUERQDFHRXV$HURVROV3URJUDPPH-&DUERQDFHRXV$HURVRO(PLVVLRQV6RXUFHDSSRUWLRQPHQWDQG&OLPDWH,PSDFWV1&$3-&2$/(6&(3URMHFW ,,7%RPED\

1,50$/$6$7+(

2IILFH$WWHQGDQW ,'3&6 ,,7%RPED\

6+((%$6(.+$5$1

5HVHDUFK$VVRFLDWH 'HSDUWPHQWRI6FLHQFHDQG7HFKQRORJ\VSRQVRUHG&HQWUHRI([FHOOHQFHLQ&OLPDWH6WXGLHV'67-&R(&6,,7%RPED\

*$1(6+*837$

3URMHFW5HVHDUFK$VVRFLDWH 1DWLRQDO&DUERQDFHRXV$HURVROV3URJUDPPH-&DUERQDFHRXV$HURVRO(PLVVLRQV6RXUFHDSSRUWLRQPHQWDQG&OLPDWH,PSDFWV1&$3-&2$/(6&(3URMHFW ,,7%RPED\

&RQYHQHU

,QWHUGLVFLSOLQDU\3URJUDPPHLQ&OLPDWH6WXGLHV3KRQH

,QGLDQ,QVWLWXWHRI7HFKQRORJ\,,7%RPED\

0XPEDL-H-PDLORIILFHFOLPDWH#LLWEDFLQ

REACH OUT TO US

$VKRUW9LGHRDERXW,'3&6KWWSVYLPHRFRPLLWERPED\LGSFV

)DFHERRNZZZIDFHERRNFRP,,7%FOLPDWH

7ZLWWHUKWWSVWZLWWHUFRP&OLPDWH,,7%

2IILFLDO<RX7XEH&KDQQHOKWWSVZZZ\RXWXEHFRPF,'3LQ&OLPDWH6WXGLHV,,7%RPED\

)RUPRUHGHWDLOVDERXWWKH3K'SURJUDPPHSOHDVHYLVLWRXURIILFLDOZHEVLWHKWWSVZZZFOLPDWHLLWEDFLQ

GET TO KNOW US

,17(5',6&,3/,1$5<352*5$00(,1&/,0$7(678',(6,'3&6 ,1',$1,167,787(2)7(&+12/2*<%20%$<