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Author: Aaron Stevens Publisher: CreateSpace ISBN: 9781506199443 Category : Mathematics Languages : en Pages : 224
Book Description
Applied Mathematics for Personal Finance provides a general introduction to the ways that mathematics can be applied to personal financial decision-making. This book is suitable for college students with no previous background in economics or finance; only familiarity with high school algebra is assumed.This book demonstrates how you can utilize math skills you already know in application areas that may be unfamiliar; it also introduces some new math skills that you can apply to familiar problems. The book emphasizes the development and application of the economic life-cycle model as the framework for evaluating all of your personal financial decisions. Economists, including six Nobel Laureates, have spent close to a century developing the concept of life-cycle consumption smoothing. “Smoothing” refers to the need to spread your economic resources over your lifetime, taking into account that your future is highly uncertain.
Author: Aaron Stevens Publisher: CreateSpace ISBN: 9781506199443 Category : Mathematics Languages : en Pages : 224
Book Description
Applied Mathematics for Personal Finance provides a general introduction to the ways that mathematics can be applied to personal financial decision-making. This book is suitable for college students with no previous background in economics or finance; only familiarity with high school algebra is assumed.This book demonstrates how you can utilize math skills you already know in application areas that may be unfamiliar; it also introduces some new math skills that you can apply to familiar problems. The book emphasizes the development and application of the economic life-cycle model as the framework for evaluating all of your personal financial decisions. Economists, including six Nobel Laureates, have spent close to a century developing the concept of life-cycle consumption smoothing. “Smoothing” refers to the need to spread your economic resources over your lifetime, taking into account that your future is highly uncertain.
Author: McGraw-Hill Education Publisher: McGraw-Hill Education ISBN: 9780078805059 Category : Business & Economics Languages : en Pages : 0
Book Description
Glencoe’s Mathematics for Business and Personal Finance is the only text on the market that offers teachers point-of-use online professional development, interactive online help for students and the option of purchasing an interactive online text with a grade book. As always, we have maintained our exclusive coverage of key core academic content, and our research-based reading strategies.
Author: Ioannis Karatzas Publisher: Springer Science & Business Media ISBN: 0387948392 Category : Business & Economics Languages : en Pages : 427
Book Description
This monograph is a sequel to Brownian Motion and Stochastic Calculus by the same authors. Within the context of Brownian-motion- driven asset prices, it develops contingent claim pricing and optimal consumption/investment in both complete and incomplete markets. The latter topic is extended to a study of equilibrium, providing conditions for the existence and uniqueness of market prices which support trading by several heterogeneous agents. Although much of the incomplete-market material is available in research papers, these topics are treated for the first time in a unified manner. The book contains an extensive set of references and notes describing the field, including topics not treated in the text. This monograph should be of interest to researchers wishing to see advanced mathematics applied to finance. The material on optimal consumption and investment, leading to equilibrium, is addressed to the theoretical finance community. The chapters on contingent claim valuation present techniques of practical importance, especially for pricing exotic options. Also available by Ioannis Karatzas and Steven E. Shreve, Brownian Motion and Stochastic Calculus, Second Edition, Springer-Verlag New York, Inc., 1991, 470 pp., ISBN 0-387- 97655-8.
Author: Kevin J. Hastings Publisher: CRC Press ISBN: 9781032262369 Category : Business & Economics Languages : en Pages : 0
Book Description
The second edition of this successful and widely recognized textbook again focuses on discrete topics. The author recognizes two distinct paths of study and careers of actuarial science and financial engineering. This text can be very useful as a common core for both. Therefore, there is substantial material on the theory of interest (the first half of the book), as well as the probabilistic background necessary for the study of portfolio optimization and derivative valuation (the second half). The material in the first two chapters should go a long way toward helping students prepare for the Financial Mathematics (FM) actuarial exam. Also, the discrete material will reveal how beneficial it is to know more about loans in student's personal financial lives. The notable changes and updates to this edition are itemized in the Preface, however, overall, the presentation has been made more efficient. One example is the chapter on discrete probability, rather unique in its emphasis on giving the deterministic problems studied earlier a probabilistic context. Probably is now a subsection on Markov chains. Sample spaces and probability measures, random variables and distributions, expectation, conditional probability, independence, and estimation all follow. Optimal portfolio selection coverage is reorganized and the section on the practicalities of stock transactions has been revised. Market portfolio, and Capital Market Theory coverage is expanded. This book, like the first edition, was written so that the print edition could stand alone. At times we simplify complicated algebraic expressions, or solve systems of linear equations, or numerically solve non-linear equations. Also, some attention is given to the use of computer simulation to approximate solutions to problems. A course in multivariable calculus is not required. The entire text is available digitally from the publisher in the form of a series of Mathematica notebooks, which can be loaded into Mathematica, and which include complete executable commands and programs, and some additional material.
Author: Marek Capinski Publisher: Springer ISBN: 1852338466 Category : Business & Economics Languages : en Pages : 317
Book Description
This textbook contains the fundamentals for an undergraduate course in mathematical finance aimed primarily at students of mathematics. Assuming only a basic knowledge of probability and calculus, the material is presented in a mathematically rigorous and complete way. The book covers the time value of money, including the time structure of interest rates, bonds and stock valuation; derivative securities (futures, options), modelling in discrete time, pricing and hedging, and many other core topics. With numerous examples, problems and exercises, this book is ideally suited for independent study.
Author: Victor Goodman Publisher: American Mathematical Soc. ISBN: 0821847937 Category : Capital market Languages : en Pages : 274
Book Description
The book begins with binomial stock price models, moves on to multistage models, then to the Cox-Ross-Rubinstein option pricing process, and then to the Black-Scholes formula. Other topics presented include Zero Coupon Bonds, forward rates, the yield curve, and several bond price models. The book continues with foreign exchange models and the Keynes Interest Rate Parity Formula, and concludes with the study of country risk, a topic not inappropriate for the times."--pub. desc.
Author: David Ruppert Publisher: Springer ISBN: 1493926144 Category : Business & Economics Languages : en Pages : 736
Book Description
The new edition of this influential textbook, geared towards graduate or advanced undergraduate students, teaches the statistics necessary for financial engineering. In doing so, it illustrates concepts using financial markets and economic data, R Labs with real-data exercises, and graphical and analytic methods for modeling and diagnosing modeling errors. These methods are critical because financial engineers now have access to enormous quantities of data. To make use of this data, the powerful methods in this book for working with quantitative information, particularly about volatility and risks, are essential. Strengths of this fully-revised edition include major additions to the R code and the advanced topics covered. Individual chapters cover, among other topics, multivariate distributions, copulas, Bayesian computations, risk management, and cointegration. Suggested prerequisites are basic knowledge of statistics and probability, matrices and linear algebra, and calculus. There is an appendix on probability, statistics and linear algebra. Practicing financial engineers will also find this book of interest.
Author: Guojun Gan Publisher: John Wiley & Sons ISBN: 1118831969 Category : Mathematics Languages : en Pages : 54
Book Description
An introduction to the mathematical theory and financial models developed and used on Wall Street Providing both a theoretical and practical approach to the underlying mathematical theory behind financial models, Measure, Probability, and Mathematical Finance: A Problem-Oriented Approach presents important concepts and results in measure theory, probability theory, stochastic processes, and stochastic calculus. Measure theory is indispensable to the rigorous development of probability theory and is also necessary to properly address martingale measures, the change of numeraire theory, and LIBOR market models. In addition, probability theory is presented to facilitate the development of stochastic processes, including martingales and Brownian motions, while stochastic processes and stochastic calculus are discussed to model asset prices and develop derivative pricing models. The authors promote a problem-solving approach when applying mathematics in real-world situations, and readers are encouraged to address theorems and problems with mathematical rigor. In addition, Measure, Probability, and Mathematical Finance features: A comprehensive list of concepts and theorems from measure theory, probability theory, stochastic processes, and stochastic calculus Over 500 problems with hints and select solutions to reinforce basic concepts and important theorems Classic derivative pricing models in mathematical finance that have been developed and published since the seminal work of Black and Scholes Measure, Probability, and Mathematical Finance: A Problem-Oriented Approach is an ideal textbook for introductory quantitative courses in business, economics, and mathematical finance at the upper-undergraduate and graduate levels. The book is also a useful reference for readers who need to build their mathematical skills in order to better understand the mathematical theory of derivative pricing models.
Author: Rachel S. Siegel Publisher: ISBN: 9781453334805 Category : College students Languages : en Pages : 0
Book Description
"Personal Finance was written with two simple goals in mind: to help students develop a strong sense of financial literacy and provide a wide range of pedagogical aids to keep them engaged and on track. This book is a practical introduction that covers all of the fundamentals and introduces conceptual frameworks, such as the life cycle of financial decisions and basic market dynamics, in a way that students can easily grasp and readily use in their personal lives." --Provided by publisher.
Author: Aaron Stevens
Author: Aaron Stevens
Author: Mary Hansen
Author: McGraw-Hill Education
Author: Ioannis Karatzas
Author: Kevin J. Hastings
Author: Marek Capinski
Author: Victor Goodman
Author: David Ruppert
Author: Guojun Gan
Author: Rachel S. Siegel