This text is intended as an introduction to the mathematics and models used in the valuation of financial derivatives. It is designed for an audience with a background in standard multivariable calculus. Otherwise, the book is essentially self-contained: the requisite probability theory is developed from first principles and introduced as needed, and finance theory is explained in detail under the assumption that the reader has no background in the subject.
The book is an outgrowth of a set of notes developed for an undergraduate course in financial mathematics offered at The George Washington University. The course serves mainly majors in mathematics, economics, or finance, and is intended to provide a straightforward account of the ...
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