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Books > Business & Economics > Economics > Econometrics
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An Introduction to Quantitative Finance (Hardcover, New)
Loot Price: R2,583
Discovery Miles 25 830
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An Introduction to Quantitative Finance (Hardcover, New)
Expected to ship within 12 - 19 working days
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The worlds of Wall Street and The City have always held a certain
allure, but in recent years have left an indelible mark on the
wider public consciousness and there has been a need to become more
financially literate. The quantitative nature of complex financial
transactions makes them a fascinating subject area for
mathematicians of all types, whether for general interest or
because of the enormous monetary rewards on offer. An Introduction
to Quantitative Finance concerns financial derivatives - a
derivative being a contract between two entities whose value
derives from the price of an underlying financial asset - and the
probabilistic tools that were developed to analyse them. The theory
in the text is motivated by a desire to provide a suitably rigorous
yet accessible foundation to tackle problems the author encountered
whilst trading derivatives on Wall Street. The book combines an
unusual blend of real-world derivatives trading experience and
rigorous academic background. Probability provides the key tools
for analysing and valuing derivatives. The price of a derivative is
closely linked to the expected value of its pay-out, and suitably
scaled derivative prices are martingales, fundamentally important
objects in probability theory. The prerequisite for mastering the
material is an introductory undergraduate course in probability.
The book is otherwise self-contained and in particular requires no
additional preparation or exposure to finance. It is suitable for a
one-semester course, quickly exposing readers to powerful theory
and substantive problems. The book may also appeal to students who
have enjoyed probability and have a desire to see how it can be
applied. Signposts are given throughout the text to more advanced
topics and to different approaches for those looking to take the
subject further.
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