Since the pioneering work of Black, Scholes, and Merton in the
field of financial mathematics, research has led to the rapid
development of a substantial body of knowledge, with plenty of
applications to the common functioning of the world 's financial
institutions.
Mathematics, as the language of science, has always played a
role in the development of knowledge and technology. Presently, the
high-tech character of modern business has increased the need for
advanced methods, which rely to a large extent on mathematical
techniques. It has become essential for the financial analyst to
possess a high degree of proficiency in these mathematical
techniques.
General
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