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Financial modeling is the task of building an abstract representation (a model) of a real world financial situation. [1] This is a mathematical model designed to represent (a simplified version of) the performance of a financial asset or portfolio of a business, project, or any other investment. Typically, then, financial modeling is understood ...
Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling in the financial field. In general, there exist two separate branches of finance that require advanced quantitative techniques: derivatives pricing on the one hand, and risk and portfolio ...
Computational finance is a branch of applied computer science that deals with problems of practical interest in finance. [1] Some slightly different definitions are the study of data and algorithms currently used in finance [2] and the mathematics of computer programs that realize financial models or systems. [3]
Bachelier model; Barone-Adesi and Whaley; Binomial options pricing model; Bjerksund and Stensland; Black model; Black–Derman–Toy model; Black–Karasinski model; Black–Litterman model; Black–Scholes equation; Black–Scholes model; Black's approximation; Bootstrapping (finance) Brace-Gatarek-Musiela model; Brownian model of financial ...
Hard coding requires the program's source code to be changed any time the input data or desired format changes, when it might be more convenient to the end user to change the detail by some means outside the program. [1] Hard coding is often required, but can also be considered an anti-pattern. [2]
IFPS was an essential financial model-development tool for long range planning and strategic planning, popular business practices in the 1980s. As an "English-like" language, IFPS made it very simple to express relationships among financial concepts without having to worry about sequential logic, as the program would figure out dependencies ...
The number and size of programs has grown rapidly, to the extent that some now use the term "financial engineer" to refer to a graduate in the field. [7] The financial engineering program at New York University Polytechnic School of Engineering was the first curriculum to be certified by the International Association of Financial Engineers.
The analyst program includes 7 optional prerequisites to review the fundamentals, 11 core courses to build a foundation in financial modeling and valuation, plus a minimum of 3 elective courses that allow more focus on specific topics and skills (14 required courses in total).