商品描述
Teach Your Students How to Become Successful Working Quants
Quantitative Finance: A Simulation-Based Introduction Using Excel provides an introduction to financial mathematics for students in applied mathematics, financial engineering, actuarial science, and business administration. The text not only enables students to practice with the basic techniques of financial mathematics, but it also helps them gain significant intuition about what the techniques mean, how they work, and what happens when they stop working.
After introducing risk, return, decision making under uncertainty, and traditional discounted cash flow project analysis, the book covers mortgages, bonds, and annuities using a blend of Excel simulation and difference equation or algebraic formalism. It then looks at how interest rate markets work and how to model bond prices before addressing mean variance portfolio optimization, the capital asset pricing model, options, and value at risk (VaR). The author next focuses on binomial model tools for pricing options and the analysis of discrete random walks. He also introduces stochastic calculus in a nonrigorous way and explains how to simulate geometric Brownian motion. The text proceeds to thoroughly discuss options pricing, mostly in continuous time. It concludes with chapters on stochastic models of the yield curve and incomplete markets using simple discrete models.
Accessible to students with a relatively modest level of mathematical background, this book will guide your students in becoming successful quants. It uses both hand calculations and Excel spreadsheets to analyze plenty of examples from simple bond portfolios. The spreadsheets are available on the book's CRC Press web page.
商品描述(中文翻譯)
教導您的學生如何成為成功的量化分析師
量化金融：基於 Excel 的模擬入門 為應用數學、金融工程、精算科學和商業管理的學生提供了金融數學的入門介紹。這本書不僅使學生能夠練習金融數學的基本技術，還幫助他們對這些技術的含義、運作方式以及當它們失效時會發生什麼有更深刻的直覺。
在介紹風險、回報、不確定性下的決策以及傳統的折現現金流項目分析後，本書涵蓋了抵押貸款、債券和年金，並結合了 Excel 模擬和差分方程或代數形式。接著，它探討了利率市場的運作方式以及如何對債券價格進行建模，然後討論均值方差投資組合優化、資本資產定價模型、期權和風險價值 (VaR)。作者接下來專注於用於期權定價的二項模型工具和離散隨機遊走的分析。他還以非嚴謹的方式介紹隨機微積分，並解釋如何模擬幾何布朗運動。該文本接著詳細討論期權定價，主要是在連續時間下進行。最後以關於收益曲線的隨機模型和使用簡單離散模型的不完全市場的章節作結。
這本書適合數學背景相對較淺的學生，將指導您的學生成為成功的量化分析師。它使用手動計算和 Excel 試算表來分析許多簡單債券投資組合的例子。試算表可在本書的 CRC Press 網頁上獲得。
