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Introduction to Financial Mathematics by Kevin J. Hastings (Hardcover, 2015)

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Kevin Hastings is Professor of Mathematics; Rothwell C. Stephens Distinguished Service Chair at Knox College. He holds a Ph.D. from Northwestern University. His interests include applications to real-world problems affected by random inputs or disturbances.

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Product Information

Introduction to Financial Mathematics is ideal for an introductory undergraduate course. Unlike most textbooks aimed at more advanced courses, the text motivates students through a discussion of personal finances and portfolio management. The author then goes on to cover valuation of financial derivatives in discrete time, using all of closed form, recursive, and simulation methods. The text covers nearly all of the syllabus topics of the Financial Mathematics Actuarial examination, providing students with the foundation they require for future studies and throughout their careers. It begins by covering standard material on the mathematics of interest, including compound interest, present value, annuities, loans, several versions of the rate of return on an investment, and interest in continuous time. The text explains how to value bonds at their issue dates, at coupon times, between coupon times, and in cases where the bonds are terminated early. Next, it supplies a rapid-fire overview of the main ideas and techniques of discrete probability, including sample spaces and probability measures, random variables and distributions, expectation, conditional probability, and independence. The author introduces the basic terminology of stocks and stock trading. He also explains how to derive the rate of return on a portfolio and how to use the idea of risk aversion to model the investor tradeoff between risk and return. The text also discusses the estimation of parameters of asset models from real data. The text closes with a detailed discussion of how to value financial derivatives using anti-arbitrage assumptions. The one-step and multi-step cases are covered, and exotic options such as barrier options are also introduced, to which simulation methods are applied. Many of the examples in the book involve numerical solution of complicated non-linear equations; others ask students to produce algorithms which beg to be implemented as programs. For maximum flexibility, the author has produced the text without adhering to any particular computational platform. A digital version of this text is also available in the form of Mathematica notebooks that contain additional content.

Product Identifiers

Publisher
Taylor & Francis Inc
ISBN-13
9781498723909
eBay Product ID (ePID)
217254832

Product Key Features

Author
Kevin J. Hastings
Publication Name
Introduction to Financial Mathematics
Format
Hardcover
Language
English
Subject
Finance, Mathematics
Publication Year
2015
Type
Textbook
Number of Pages
407 Pages

Dimensions

Item Height
234mm
Item Width
156mm
Item Weight
726g

Additional Product Features

Title_Author
Kevin J. Hastings
Series Title
Advances in Applied Mathematics
Country/Region of Manufacture
United States

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Introduction to Financial Mathematics by Kevin J. Hastings (Hardcover, 2015)

About this product

Product Information

Product Identifiers

Product Key Features

Dimensions

Additional Product Features

Best Selling in Adult Learning & University

Eduqas GCSE (9-1) Religious Studies Route B: Catholic Christianity and Judaism by Deirdre Cleary, Andrew Barron, Joy White, Patrick Harrison (Paperback, 2017)

Polyvagal Exercises for Safety and Connection: 50 Client-Centered Practices by Deb Dana (Paperback, 2020)

Save on Adult Learning & University

Weed Forager's Handbook: A Guide to Edible and Medicinal Weeds in Australia by A

Netter Atlas of Human Anatomy: Classic Regional Approach

Michael Nehls The Indoctrinated Brain (Hardback) (US IMPORT)

Bill Perkins Die With Zero (Paperback)

Havard's Nursing Guide to Drugs

Nelson Senior Maths 11 Mathematics Essential Student Book with 1 Access Code for

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