...Brief Introduction of Financial Risk Management Financial risk management is an interdiscipline with various researching subfields including the studies of mathematical methods to maximum the profits, quantitative analysis of financial databases and investment decisions. In other words, it is aimed to bridge the gap between mathematical theories and practical financial analysing tools (Nawrocki 1999). It could also be defined as“Living with the possibility that future events may cause adverse effects” (Kloman 1999). Risk and profit are always an integral. The variety of risks including portfolio risk, credit risk and liquidity risk became a financial conundrum which equalled to a group of destructive nuclear bombs hidden in the monetary market. Consequently, the risk management represents the core competence in insurance and banking industries. With the innovation of IT technology, more advanced computer software has been introduced in financial area which results that the risk management has made impressive strides in last decade. As the academic field mature constantly, the abstract mathematical and statistic concepts reifies to accessible programs which could predict the trends of investment returns, for example, the expected earnings at the end of next week after buying certain amount of stock at next Monday (Chapman 1996, iv). The origin of risk management could date back to the game theories introduced by two French mathematicians...
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...Minor Programmes available for non-FBE students Programme School of Business Business School of Economics and Finance Economics Finance Major X √ √ Minor √ √ √ II. GPA Requirement A yearly GPA of 3.0 of above as of August 31 (excluding Summer Semester) at the end of the first year of study must be obtained for eligibility to declare any major or minor offered by the Faculty of Business and Economics. For students who fail to meet the GPA requirement at the end of their second year of study, their declaration of FBE major/minor will be removed from the SIS by their home Faculty. III. Requirements for Major Programmes Students are required to complete 60 credits of prescribed courses for each major as follows: (A) Majors offered by the School of Economics and Finance 1. Major in Economics (60 credits) Course code Course Credits Year 1 courses: 12 credits ECON1001 Introduction to economics I 6 ECON1002 Introduction to economics II 6 Year 2 and Year 3 courses: 48 credits ECON2101 Microeconomic theory or 6 ECON2113 Microeconomic analysis 6 ECON2102 Macroeconomic theory or Macroeconomic analysis ECON2114 ECONxxxx/ Year two/Year three courses listed in Economics 36 FINAxxxx or Finance electives Total: 60 2. Major in Finance (60 credits) Course code Course Year 1 courses: 18 credits BUSI1002 Introduction to accounting ECON1001 Introduction to economics I FINA1003 Corporate finance Year 2 and Year 3 courses: 42 credits ECON2101 Microeconomic theory or ECON2113 Microeconomic...
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...Future of Finance Finance is the study of how investors allocate their assets over time under conditions of certainty and uncertainty. The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th 20th and early 21st centuries, many financial crises were associated with banking fears, and many recessions coincided with these fears. Other circumstances that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth; they do not directly result in changes in the real economy unless a recession or depression follows. The 2007–2012 global financial crisis, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. It resulted in the threat of total collapse from large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of US dollars, and a downturn in economic activity leading to the 2008–2012 global recession...
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...of Mathematics in Economics Article authored during M.A. degree between 1987-1989. Introduction Traditionally, application of mathematics had been restricted to the physical sciences, and the theories in the social sciences had been neglected, but in these days we notice that mathematical economics is flying high. We also observe that the articles on mathematical economics and fewer points on economic theory, occupy more prominent place in the economics journals. Arguments given in the favor of mathematics look attractive in the first instance but they are not free of problems. It is argued by many economists that mathematical models are recognized in providing a rational approach to solving many of the problems in decision making, allocation, and forecasting1. Mathematical models present theoretical work in their own language, which is a tool of communication, but we know that a language must be simple and easily understood to be appreciated, but as a language, mathematics is not simple and easy. In this paper, an attempt is made to discourage the excessive use of mathematics in economics, by describing its drawbacks in the economic theory. Attention is given to the scientific nature of the economics. In the beginning some definitions are given and comparison between different models are given, to develop an understanding in the subject. Mathematisation of Economics The major development of the second quarter of 20th century in the field of economics was the mathematization...
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...that are applicable to real-world problems today. There is no consensus as to what the various branches of applied mathematics are. Such categorizations are made difficult by the way mathematics and science change over time, and also by the way universities organize departments, courses, and degrees. Many mathematicians distinguish between "applied mathematics," which is concerned with mathematical methods, and the "applications of mathematics" within science and engineering. A biologist using a population model and applying known mathematics would not be doingapplied mathematics, but rather using it; however, mathematical biologists have posed problems that have stimulated the growth of pure mathematics. Mathematicians such as Poincaré and Arnold deny the existence of "applied mathematics" and claim that there are only "applications of mathematics." Similarly, non-mathematicians blend applied mathematics and applications of mathematics. The use and development of mathematics to solve industrial problems is also called "industrial mathematics".[2] The success of modern numerical mathematical methods and software has led to the emergence of computational mathematics, computational science, and computational engineering, which use high-performance computing for the simulation of...
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...I developed interest in studying Economics the very day I was introduced to the subject in my first year in the secondary school. Although I had the penchant to become a Financial Management Specialist, I realized that I could hardly become a successful one without studying Economics. This underpinned my resolve to combine Economics with Accounting during my undergraduate studies. My exposure to the intermediate level of Economics broadened my reasoning and decision-making skills which further deepened my interest in Economics. I have realized that Economics is important in every aspect of human life and that the study Economics offers a plethora of Vista. As Finance Manager, I employ both micro and macro economic data in taking financial decisions that will be in the best interest of my employers and stakeholders of the firm. For example, I consider economic factors such as inflation, interest and exchange rates and the principle of opportunity cost when performing my financial planning and treasury management functions. Apart from helping an individual to make rational choices, decisions or maximize any resources no matter how small, the study of Economics enables one to evaluate the effect of economic policies on the welfare of citizens. It also helps to evaluate government policies on...
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...CLASS Introduction: I look forward to have a fruitful and meaningful interaction with each one of you during the term. This will however depend on your active participation and attention during the class sessions and an active follow up afterwards. Course Description: The course will stress mainly on developing basics concepts of mathematics. It will include basic mathematical operations, factorization, solving first and second-degree equations, solving first and second-degree inequalities, analytical geometry (graph, linear equation – slope-intercept form), solving simultaneous equations, mathematical functions (concept of domain and range), quadratic functions, mathematics of finance and matrices. All topics will be discussed along with their applications. Some features of Microsoft Excel on graph and matrices are also included in the course. Course Objective: This is the first course in mathematics and the main objective of this course is to improve the level of quantitative abilities possessed by students and prepare them for the applications of mathematics in the courses like finance, economics, operations research, etc. Teaching Methodology & Requirements: Please arrive and leave on time. Class will begin promptly five minutes after the hour and will end exactly on the hour. Late arrivals and early departures disrupt class and ruin the presentations of others. They are unprofessional. Do your own work. Plagiarism and cheating will lead to dismissal....
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...the 2:1 level or higher 工科: IELTS of 6.5 (no component under 6.0) or equivalent [pic][pic][pic] TOEFL: Internet-based score of 92 (minimum 19 listening, 21 speaking, 19 writing and 20 reading) PTE (Pearson): 62 (minimum 55 in all components) Test dates should be within two years of the course start date. 2. ST ANDREWS 圣安Scotland MLitt International Business MLitt Marketing MSc Economics MLitt English Studies MSc Finance MLitt Finance and Management MLitt Human Resource Management MLitt International Business and Strategy MLitt Management MSc Management and Information Technology MSc Computing and Information Technology MSc Information Technology MLitt TESOL with Distance Learning 2:1 (UK), 2:2 or B+ (Europe), 3.6 GPA (USA), 85% (China), 70% (India) IELTS 7.0 with minimum 6.0 in writing or TOEFL 600PBT/100IBT £17,500 NO GMAT Requirement, 2+2 students’ IETLS may can be waived. 3. Bath 巴斯 England The School of Management: No 1 for Accounting and Finance in UK No. 1 for Student Satisfaction in Business Study in UK No 1 for Graduate Jobs in Business No 2 and No 11 in UK and World Ranking in MBA study Management: 44 (0) 1225 386742 MSc in Management MSc in Human Resource Management and Consulting MSc in Sustainability and Management MSc in International Management MSc in Advanced...
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...students to the principles, uses and interpretation of regression analysis most commonly employed in applied economics; to provide participants with sufficient knowledge of regression methods to critically evaluate and interpret empirical research. On completion of this module students should be able to: demonstrate understanding of the assumptions and properties underlying regression analysis and the principle of ‘least squares’; interpret and manipulate the coefficients of multiple regression and performance criteria; conduct diagnostic checking of the validity of regression equations coefficients; appreciate the problems of misspecification, multicollinearity, heteroscedasticity and autocorrelation. Content: 1. Simple Regression Analysis 2. Multiple Regression Analysis 3. Dummy Variables 4. Heteroscedasticity 5. Autocorrelation Main Textbook: Dougherty, C. (2011). Introduction to Econometrics, 4th edition, Oxford. 2. Module Name: Computational Finance Code: P12614 Credits: 10 Semester: Spring 2011/12 Programme classes: 12 1-2 hour lectures/workshops Aims: The module aims to describe and analyse the general finance topics and introduces students to implement basic computational approaches to financial problems using Microsoft Excel. It stresses the fundamentals of finance; provides students with a knowledge and understanding on the key finance subjects such as money market, return metric, portfolio modelling, asset pricing, etc.; and equips students...
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...Neuro-finance and stock trading Experiment tests A preliminary research proposal Paul Farah Contents Introduction ............................................................................................................................................ 3 Procedures and methodology .................................................................................................................. 4 Experiments ............................................................................................................................................ 5 References .............................................................................................................................................. 7 Introduction The ability to attribute mental states, including beliefs, desires, intentions, and emotions to others is a crucial social ability. Known as Theory of Mind (ToM), it is the capacity to use a working model that attributes internal mental states to others in order to manage interpersonal relations, regulate one’s own behavior, and predict the behavior of others (Premack and Woodruff (1978)). It is the ability to think about what another person is thinking about, even if the latter makes no sense in one’s own mind; and it is the ability to think about what another person thinks about you; etc. (Hampton, Bossaerts and ] O'Doherty (2007)). A variety of behavioral tests have been developed to measure ToM abilities (Baron-Cohen, Jolliffe, Mortimore and Robertson...
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...COURSE: MATHEMATICS I (MTH 101) SYLLABUS I. Basic algebra: Linear and quadratic equations, Solving linear and quadratic equations, Application of equations: profit, pricing, savings, revenue, sales tax, investment, bond redemption, linear inequalities, applications of inequalities: profit, renting verses purchasing, leasing versus purchasing, revenue, current ratio, investment, Maple session on solving linear, quadratic and higher degree equations, solving inequalities II. Functions and Graphs: Introduction to functions, domain and range of a function, Applications: demand, supply and profit functions, demand and supply schedule, value of business, depreciation, Special functions: polynomial, rational, piecewise defined functions, Absolute value function, and evaluation of such functions. Combination of functions. Applications: cost, investment, sales, profit, business, Graphs of functions: linear, quadratic, piecewise defined functions, graphing of quadratic functions by finding vertex, Applications on graphs: inventory, debt payment, pricing, revenue and profit, demand and supply curves, Maple session on functions and graphs III. Lines and Systems: Equation of a straight line, slope and intercept of a line, parallel and perpendicular lines, Applications: price-quantity relationship, production levels, cost, revenue, demand and supply equations, isocost line, isoprofit line, depreciation, appreciation, systems of linear equations, solution of system...
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...then it changes, dramatically. Living in Hong Kong, it is clear to see how the economy here continues to evolve, adapt and transform itself. With Hong Kong being one of the fastest growing international finance centers in the world, I hope to gain expertise in this challenging field. ACADEMIC BACKGROUND Academically, I have always been regarding as being extremely motivated, having completed my Associate in Arts when I graduated High School at age eighteen and continuing on to complete my Undergraduate Education from the University of Central Florida by the age of twenty. I then decided to pursue an education in law at Florida Coastal School of Law; however, after two years of study came to the realization that my area of interest had changed to finance. AREA OF INTEREST Finance, as a field, had always fascinated me right from my undergraduate college days. I believe that my fondness for this field stems from the fact that finance is very analytical. I have always enjoyed and been strong in areas that require problem solving, analytical and mathematical skills, and I am anxious to combine the knowledge of, and aptitude for, these skills with my interest in finance. I really want to explore finance while intend to gain specialized knowledge in the field of corporate finance. PREPARATION FOR POSTGRADUATE STUDY The two years I spent studying at Florida Coastal School of Law has prepared me for continuing my educational elsewhere. The rigorous demands of law school have...
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...Abstract This research assesses the fundamental causes of the current financial crisis that hit the USA in 2008. A Close look at financial analysis specifies that theoretical modeling based on unrealistic anticipations led to serious problems in mispricing in the enormous unregulated market for credit default swaps that exploded upon catalytic rises in residential mortgage defaults. Latest academic research suggests solutions to the economic crisis that are appraised to be far less costly than bailing out investors who made poor decisions with respect to credit analysis. Introduction The financial crisis that occurred in 2008 is of such epic proportions that even astronomical amounts spent to address this issue have by far been not able to resolve it. This economic crisis is the worst to ever hit USA since the great depression and is utmost important to economists since this led to 2.6 million unemployed furthermore 3.4 trillion dollar were lost in real estate wealth and the stock market also lost 7.4 trillion according to the Federal Reserve. Besides the $700 billion bill approved by Congress, the Federal Reserve has bailed out institutions and markets by generating about $1.3 trillion in investments in various risky assets, also including loans to otherwise bankrupt organizations & collateralized debt obligations which were completely backed by subprime mortgages that were defaulting at rapid rates. Furthermore a $900 billion is in the process of being proposed...
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...Bachelor of Commerce: Finance & Economics Specialist (Effective 2012/13) 1. Program Overview & Required Courses Overview and Summary •This is a four-year honours program which leads to the Bachelor of Commerce •This Specialist requires 10.0 RSM + 10.0 non-RSM, with 13.5 specified FCEs •10 RSM = 4.0 required + 2.0 specified electives + 4.0 unspecified electives •10 non-RSM = 1.0 MAT + 6.5 ECO + 2.5 unspecified FAS electives •RSM100Y Introduction to Management •ECO100Y Introduction to Economics •MAT133Y Calculus and Linear Algebra * First-Year Requirements Upper-Year ECO Requirements (i) Upper-Year ECO Requirements (ii) •ECO204Y/ECO206Y Microeconomic Theory and Applications •ECO208Y/ECO209Y Macroeconomic Theory •ECO220Y/ECO227Y Quantitative Methods in Economics ** •2.5 from any 300+ ECO Upper-Year RSM Requirements (i) •RSM219H Introduction to Financial Accounting •RSM222H Management Accounting I •RSM230H Financial Markets •RSM330H Investments •RSM332H Capital Market Theory •RSM333H Introduction to Corporate Finance •0.5 from: •RSM250H Principles of Marketing •RSM260H Organizational Behaviour •RSM270H Operations Management •RSM392H Strategic Management •1.0 from: •RSM430H Fixed Income Securities •RSM432H Risk Management for Financial Managers •RSM433H Advanced Corporate Finance •RSM434H Financial Trading Strategies •RSM435H Futures and Options Markets •RSM437H International Finance •0.5 from: •RSM295Y/296Y/395Y Special Topics: Summer Abroad •RSM437H International...
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...Distinguished Alumni of IITD Indian Institute of Technology Delhi is one of the premier engineering institutes of India. IITD is one of the seven IITs created as centres of excellence for higher training, research and development in science, engineering and technology in India. For many years, excellently trained batches of students are being given by IITD to the world. These alumni go ahead in life and make significant contributions to our society, bringing glory for themselves and for the institute. It is always an honour to be a part of such a great institute and, to be a distinguished alumnus amongst such a lot is something whose greatness could not be expressed only in words. Professor Arogyaswamy Paulraj is such a distinguished alumnus who has achieved remarkable success in his field. He received his Doctoral degree in Electrical Engineering from the Indian Institute of Technology Delhi in 1973 while on deputation from the Indian Navy. During his deputation, he led the development of an improved version of antisubmarine sonar for the Indian Navy. Later, he headed a team at the Naval Oceanographic Laboratory, Cochin to develop very large sonar systems giving India the most advanced sonar technology. He also supervised the development of a large systems software suite for parallel computers at the Centre for Development of Advanced Computing, Bangalore and the development of radar and communications systems at Bharat Electronics. He was the founding Director of the Centre...
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