The Mathematics of Derivatives. Tools for Designing Numerical Algorithms

Quantitative Finance is expanding rapidly. One of the aspects of the recent financial crisis is that, given the complexity of financial products, the demand for people with high numeracy skills is likely to grow and this means more recognition will be given to Quantitative Finance in existing and new course structures worldwide. Evidence has suggested that many holders of complex financial securities before the financial crisis did not have in-house experts or rely on a third-party in order to assess the risk exposure of their investments. Therefore, this experience shows the need for better understanding of risk associate with complex financial securities in the future. The Mathematics of Derivative Securities with Applications in MATLAB provides readers with an introduction to probability theory, stochastic calculus and stochastic processes, followed by discussion on the application of that knowledge to solve complex financial problems such as pricing and hedging exotic options, pricing American derivatives, pricing and hedging under stochastic volatility and an introduction to interest rates modelling. The book begins with an overview of MATLAB and the various components that will be used alongside it throughout the textbook. Following this, the first part of the book is an in depth introduction to Probability theory, Stochastic Processes and Ito Calculus and Ito Integral. This is essential to fully understand some of the mathematical concepts used in the following part of the book. The second part focuses on financial engineering and guides the reader through the fundamental theorem of asset pricing using the Black and Scholes Economy and Formula, Options Pricing through European and American style options, summaries of Exotic Options, Stochastic Volatility Models and Interest rate Modelling. Topics covered in this part are explained using MATLAB codes showing how the theoretical models are used practically. Authored from an academic’s perspective, the book discusses complex analytical issues and intricate financial instruments in a way that it is accessible to postgraduate students with or without a previous background in probability theory and finance. It is written to be the ideal primary reference book or a perfect companion to other related works. The book uses clear and detailed mathematical explanation accompanied by examples involving real case scenarios throughout and provides MATLAB codes for a variety of topics.

Throughout the book, readers take a journey throughout time and observe how people around the world have understood these patterns of quantity, structure, and dimension around them. The Development of Mathematics Throughout the Centuries: A Brief History in a Cultural Contex provides a brief overview of the history of mathematics in a very straightforward and understandable manner and also addresses major findings that influenced the development of mathematics as a coherent discipline. This book: Highlights the contributions made by various world cultures including African, Egyptian, Babylonian, Chinese, Indian, Islamic, and pre-Columbian American mathematics Features an approach that is not too rigorous and is ideal for a one-semester course of the history of mathematics. Includes a Resources and Recommended Reading section for further exploration and has been extensively classroom-tested

Understand the design factors of campus environmental theory that impact student success and create a campus of consequence Designing for Learning is a comprehensive introduction to campus environmental theory and practice, summarizing the influence of collegiate environments on learning and providing practical strategies for facilitating student success through intentional design. This second edition offers new coverage of universal design, learning communities, multicultural environments, online environments, social networking, and safety, and challenges educators to evaluate the potential for change on their own campuses. You'll learn which factors make a living-learning community effective, and how to implement these factors in the renovation of campus facilities. An updated selection of vignettes, case scenarios, and institutional examples help you apply theory to practice, and end-of-chapter reflection questions allow you to test your understanding and probe deeper into the material and how it applies to your environment. Campus design is no longer just about grassy quads and ivy-covered walls—the past decade has seen a surge in new designs that facilitate learning and nurture student development. This book introduces you to the many design factors that impact student success, and helps you develop a solid strategy for implementing the changes that can make the biggest difference to your campus. Learn how environments shape and influence student behavior Evaluate your campus and consider the potential for change Make your spaces more welcoming, inclusive, and functional Organize the design process from research to policy implementation Colleges and universities are institutions of purpose and place, and the physical design of the facilities must be undertaken with attention to the ways in which the space's dimensions and features impact the behavior and outlook of everyone from students to faculty to staff. Designing for Learning gives you a greater understanding of modern campus design, and the practical application that brings theory to life.

The Handbook of Portfolio Mathematics «For the serious investor, trader, or money manager, this book takes a rewarding look into modern portfolio theory. Vince introduces a leverage-space portfolio model, tweaks it for the drawdown probability, and delivers a superior model. He even provides equations to maximize returns for a chosen level of risk. So if you're serious about making money in today's markets, buy this book. Read it. Profit from it.» —Thomas N. Bulkowski, author, Encyclopedia of Chart Patterns «This is an important book. Though traders routinely speak of their 'edge' in the marketplace and ways of handling 'risk,' few can define and measure these accurately. In this book, Ralph Vince takes readers step by step through an understanding of the mathematical foundations of trading, significantly extending his earlier work and breaking important new ground. His lucid writing style and liberal use of practical examples make this book must reading.» —Brett N. Steenbarger, PhD, author, The Psychology of Trading and Enhancing Trader Performance «Ralph Vince is one of the world's foremost authorities on quantitative portfolio analysis. In this masterly contribution, Ralph builds on his early pioneering findings to address the real-world concerns of money managers in the trenches-how to systematically maximize gains in relation to risk.» —Nelson Freeburg, Editor, Formula Research «Gambling and investing may make strange bedfellows in the eyes of many, but not Ralph Vince, who once again demonstrates that an open mind is the investor's most valuable asset. What does bet sizing have to do with investing? The answer to that question and many more lie inside this iconoclastic work. Want to make the most of your investing skills Open this book.» —John Bollinger, CFA, CMT, www.BollingerBands.com

A user-friendly presentation of the essential concepts and tools for calculating real costs and profits in personal finance Understanding the Mathematics of Personal Finance explains how mathematics, a simple calculator, and basic computer spreadsheets can be used to break down and understand even the most complex loan structures. In an easy-to-follow style, the book clearly explains the workings of basic financial calculations, captures the concepts behind loans and interest in a step-by-step manner, and details how these steps can be implemented for practical purposes. Rather than simply providing investment and borrowing strategies, the author successfully equips readers with the skills needed to make accurate and effective decisions in all aspects of personal finance ventures, including mortgages, annuities, life insurance, and credit card debt. The book begins with a primer on mathematics, covering the basics of arithmetic operations and notations, and proceeds to explore the concepts of interest, simple interest, and compound interest. Subsequent chapters illustrate the application of these concepts to common types of personal finance exchanges, including: Loan amortization and savings Mortgages, reverse mortgages, and viatical settlements Prepayment penalties Credit cards The book provides readers with the tools needed to calculate real costs and profits using various financial instruments. Mathematically inclined readers will enjoy the inclusion of mathematical derivations, but these sections are visually distinct from the text and can be skipped without the loss of content or complete understanding of the material. In addition, references to online calculators and instructions for building the calculations involved in a spreadsheet are provided. Furthermore, a related Web site features additional problem sets, the spreadsheet calculators that are referenced and used throughout the book, and links to various other financial calculators. Understanding the Mathematics of Personal Finance is an excellent book for finance courses at the undergraduate level. It is also an essential reference for individuals who are interested in learning how to make effective financial decisions in their everyday lives.

As the first book to share the necessary algorithms for creating code to experiment with design problems in the processing language, this book offers a series of generic procedures that can function as building blocks and encourages you to then use those building blocks to experiment, explore, and channel your thoughts, ideas, and principles into potential solutions. The book covers such topics as structured shapes, solid geometry, networking and databases, physical computing, image processing, graphic user interfaces, and more.

Mathematics for Physicists is a relatively short volume covering all the essential mathematics needed for a typical first degree in physics, from a starting point that is compatible with modern school mathematics syllabuses. Early chapters deliberately overlap with senior school mathematics, to a degree that will depend on the background of the individual reader, who may quickly skip over those topics with which he or she is already familiar. The rest of the book covers the mathematics that is usually compulsory for all students in their first two years of a typical university physics degree, plus a little more. There are worked examples throughout the text, and chapter-end problem sets. Mathematics for Physicists features: Interfaces with modern school mathematics syllabuses All topics usually taught in the first two years of a physics degree Worked examples throughout Problems in every chapter, with answers to selected questions at the end of the book and full solutions on a website This text will be an excellent resource for undergraduate students in physics and a quick reference guide for more advanced students, as well as being appropriate for students in other physical sciences, such as astronomy, chemistry and earth sciences.

Get in the game of developing successful apps for the iPad Designing for the iPad presents unique challenges for developers and requires an entirely different mindset of elements to consider when creating apps. Written by a highly successful iPad software developer, this book teaches you how to think about the creation process differently when designing iPad apps and escorts you through the process of building applications that have the best chance for success. You'll learn how to take advantage of the iPad's exciting new features and tackle an array of new design challenges so that you can make your app look spectacular, work intuitively, and sell, sell, sell! Bestselling iPad app developer Chris Stevens shares insight and tips for creating a unique and sellable iPad app Walks you through sketching out an app, refining ideas, prototyping designs, organizing a collaborative project, and more Highlights new code frameworks and discusses interface design choices Offers insider advice on using the latest coding options to make your app a surefire success Details iPad design philosophies, the difference between industrial and retail apps, and ways to design for multiple screen orientations Designing for the iPad escorts you through the steps of developing apps for the iPad, from pencil sketch all the way through to the iPad App Store.

Mathematics for Dyslexics: Including Dyscalculia, 3rd Edition discusses the factors that contribute to the potential difficulties many dyslexic learners may have with mathematics, and suggests ways of addressing these difficulties. The first chapters consider the theoretical background. The later chapters look at practical methods, which may help dyslexic learners. The book is designed to be comprehensive and to help teachers, support assistants, and parents understand the learner and to learn a range of skills and thus develop confidence and competence in working with dyslexic pupils.

This book offers comprehensive coverage of all the mathematical tools needed by engineers in the field of processing and transport of all forms of information, data and images – as well as many other engineering disciplines. It provides essential theories, equations and results in probability theory and statistics, which constitute the basis for the presentation of signal processing,information theory, traffic and queueing theory, and reliability. The mathematical foundations of simulation are also covered. The book's accessible style will enable students, engineers and researches new to this area to advance their knowledge of communication and other engineering technologies; however, it will also serve as a useful reference guide to anyone wishing to further explore this field.