An Undergraduate Introduction to Financial Mathematics by Buchanan J Robert PDF

By Buchanan J Robert

ISBN-10: 9814407445

ISBN-13: 9789814407441

This textbook presents an advent to monetary arithmetic and fiscal engineering for undergraduate scholars who've accomplished a 3- or four-semester series of calculus classes. It introduces the idea of curiosity, discrete and non-stop random variables and chance, stochastic tactics, linear programming, the basic Theorem of Finance, alternative pricing, hedging, and portfolio optimization. This 3rd variation expands at the moment by means of together with a brand new bankruptcy at the extensions of the Black-Scholes version of alternative pricing and a better variety of routines on the finish of every bankruptcy. extra history fabric and routines extra, with options supplied to the opposite chapters, permitting the textbook to raised stand on my own as an advent to monetary arithmetic. The reader progresses from a high-quality grounding in multivariable calculus via a derivation of the Black-Scholes equation, its answer, houses, and functions. The textual content makes an attempt to be as self-contained as attainable with out counting on complex mathematical and statistical subject matters. the fabric offered during this e-book will competently arrange the reader for graduate-level research in mathematical finance.

Contents:

  • The conception of Interest
  • Discrete Probability
  • Normal Random Variables and Probability
  • The Arbitrage Theorem
  • Random Walks and Brownian Motion
  • Forwards and Futures
  • Options
  • Solution of the Black-Scholes Equation
  • Derivatives of Black-Scholes alternative Prices
  • Hedging
  • Extensions of the Black-Scholes Model
  • Optimizing Portfolios
  • American Options

Readership: Undergraduate scholars in finance, economics, and utilized arithmetic; execs in banking, coverage and finance.

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