What are Some Accessible Books on Financial Mathematics for Undergraduates?

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Discussion Overview

The discussion centers around identifying accessible books on financial mathematics suitable for undergraduate students. Participants explore various aspects of financial math, including its definitions, relevant mathematical concepts, and specific book recommendations.

Discussion Character

  • Exploratory, Debate/contested

Main Points Raised

  • One participant seeks recommendations for books that cover the basics of financial mathematics in an accessible manner.
  • Another participant questions the definition of financial math, suggesting it may refer to different areas such as accounting or modeling economic systems.
  • A participant mentions the Black-Scholes equation and topics like financial derivatives and options as relevant to financial mathematics.
  • It is suggested that knowledge of calculus and differential equations is sufficient for understanding some aspects of financial mathematics.
  • Another participant defines financial mathematics as involving time series, simulations, and stochastic differential equations.
  • A specific book recommendation is made for "theory of interest and life contingencies with pension application" by Parmenter from Actex Publication as a good resource.

Areas of Agreement / Disagreement

Participants express differing views on what constitutes financial mathematics, with no consensus on a single definition or approach. Various topics and resources are proposed, but the discussion remains unresolved regarding the most suitable materials for undergraduates.

Contextual Notes

Participants have not clarified the specific mathematical prerequisites or the scope of financial mathematics they are referring to, leading to ambiguity in the discussion.

gravenewworld
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Does anyone know of any good books on financial math? I am interested in something that covers the basics of financial math and is accessible to undergraduates. I don't want anything that takes a phd to understand.
 
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It is not clear what you mean. If you are referring to accounting then there is not much math required, it is all orgainization.

If you are referring to modeling economic systems then you must learn about nonlinear dynamic systems (Chaos) .

What is financial math?
 
I had something in mind like Black-scholes equation (which is very famous), financial derivatives, options, etc.
 
Last edited:
Calculus and Differential equations will do what you need for that.
 
Integral said:
What is financial math?
financial mathematics usually refer to time series, simulations, stochastic differential equations, and etc.
 
"theory of interest and life contingencies with pension application"

by Parmenter,Actex Pbublication...is very good book about f.math
 

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