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Currently, I am a freshman undergrad student majoring in Applied Math. And I am taking mutivariable calculus and linear algebra. I am just wondering what sequence of classes I should take is bettter? (in preparation of MFE of course )
the following are classes available in my school:
Financial Mathematics 1: The mathematics of measurement of interest, accumulation and discount, present value, annuities, loans, bonds, and other securities.
Financial Mathematics 2: Measurement of financial risk, the mathematics of capital budgeting, mathematical analysis of financial decisions and capital structure, and option pricing theory.
Advanced Financial Math: Advanced topics in financial mathematics such as single-period, multi-period, and continuous time financial models; Black-Scholes formula; interest rate models; and immunization theory.
Advanced Financial Mathematics: An introduction to the standard models of modern financial mathematics including martingales, the binomial asset pricing model, Brownian motion, stochastic integrals, stochastic differential equations, continuous time financial models, completeness of the financial market, the Black-Scholes formula, the fundamental theorem of finance, American options, and term structure models.
Probability: Introduction to the theory of probability. Discussion of some of the probability problems encountered in scientific and business fields.
Elementary Stochastic Processes: A sequel to Math 3160(231). The course covers conditional probability and conditional expectation, Markov Chains in discrete time and continuous time, renewal theory, the Poisson process, and the Brownian Motion process.
From my shallow knowldge, all the classes above seem necessary to learn in order to be a well prepared MFE candidate, am I correct? And in addition, what other classes should I take? complex variable? numerical analysis? Any suggestion would be greatly appreciated. Thanks in advance.
the following are classes available in my school:
Financial Mathematics 1: The mathematics of measurement of interest, accumulation and discount, present value, annuities, loans, bonds, and other securities.
Financial Mathematics 2: Measurement of financial risk, the mathematics of capital budgeting, mathematical analysis of financial decisions and capital structure, and option pricing theory.
Advanced Financial Math: Advanced topics in financial mathematics such as single-period, multi-period, and continuous time financial models; Black-Scholes formula; interest rate models; and immunization theory.
Advanced Financial Mathematics: An introduction to the standard models of modern financial mathematics including martingales, the binomial asset pricing model, Brownian motion, stochastic integrals, stochastic differential equations, continuous time financial models, completeness of the financial market, the Black-Scholes formula, the fundamental theorem of finance, American options, and term structure models.
Probability: Introduction to the theory of probability. Discussion of some of the probability problems encountered in scientific and business fields.
Elementary Stochastic Processes: A sequel to Math 3160(231). The course covers conditional probability and conditional expectation, Markov Chains in discrete time and continuous time, renewal theory, the Poisson process, and the Brownian Motion process.
From my shallow knowldge, all the classes above seem necessary to learn in order to be a well prepared MFE candidate, am I correct? And in addition, what other classes should I take? complex variable? numerical analysis? Any suggestion would be greatly appreciated. Thanks in advance.
