An Undergraduate Introduction to Financial Mathematics by J. Robert Buchanan PDF

By J. Robert Buchanan

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 courses.

It introduces the idea of curiosity, discrete and non-stop random variables and likelihood, stochastic approaches, linear programming, the elemental Theorem of Finance, alternative pricing, hedging, and portfolio optimization. The reader progresses from a fantastic grounding in multi-variable calculus via a derivation of the Black–Scholes equation, its resolution, homes, and applications.


  • The idea 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
  • Optimizing Portfolios
  • American Options

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

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An Undergraduate Introduction to Financial Mathematics by J. Robert Buchanan

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