Download e-book for kindle: An Undergraduate Introduction to Financial Mathematics by Buchanan J Robert

By Buchanan J Robert

This textbook presents an creation to monetary arithmetic and monetary engineering for undergraduate scholars who've accomplished a 3- or four-semester series of calculus classes. It introduces the speculation of curiosity, discrete and non-stop random variables and likelihood, stochastic techniques, linear programming, the elemental Theorem of Finance, choice pricing, hedging, and portfolio optimization. This 3rd variation expands at the moment through together with a brand new bankruptcy at the extensions of the Black-Scholes version of choice pricing and a better variety of workouts on the finish of every bankruptcy. extra history fabric and workouts further, with suggestions 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 resolution, homes, and functions. The textual content makes an attempt to be as self-contained as attainable with no hoping on complex mathematical and statistical subject matters. the cloth provided during this e-book will properly arrange the reader for graduate-level research in mathematical finance.

Contents:

  • The thought 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 choice Prices
  • Hedging
  • Extensions of the Black-Scholes Model
  • Optimizing Portfolios
  • American Options

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

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