1. Studying in Hong Kong: the concept of financial mathematics
FinancialMathematics, also known as mathematical finance, mathematical finance and analytical finance, uses mathematical tools to study finance, and makes quantitative analysis such as mathematical modeling, theoretical analysis and numerical calculation, so as to discover the inherent laws of finance and guide practice. Financial mathematics can also be understood as the application of modern mathematics and computing technology in the financial field. Therefore, financial mathematics is a new interdisciplinary subject, which develops rapidly and is one of the most active frontier disciplines at present.
Financial engineering has two concepts: narrow sense and broad sense. Narrow financial engineering mainly refers to the use of advanced mathematics and communication tools, on the basis of existing basic financial products, to carry out different forms of combination decomposition, in order to design new financial products that meet customer needs and have specific profit and loss characteristics. Financial engineering in a broad sense refers to all technological developments that use engineering means to solve financial problems. It includes not only financial product design, but also financial product pricing, trading strategy design, financial risk management and other aspects. This paper explains the concept of financial engineering in a broad sense.
Two, learning financial mathematics, the purpose of the plan is:
1. Graduates with solid financial engineering, actuarial science and risk management;
2. Enable students to master theoretical knowledge, statistical methods and calculation skills, so as to develop financial and insurance actuarial services under the background of international business;
3. Combine the course of acquiring mathematical skills with modern financial theory and information technology;
4. Develop the ability to apply mathematics and calculation skills to quantitative finance and actuarial science; and
5. Cultivate students to reach professional level in finance and actuarial science.
Third, the purpose of financial mathematics course:
1. Explain and analyze the basic principles of actuarial mathematics and finance;
2. Assess and study contemporary issues of financial and insurance actuarial business opportunities;
3. Apply mathematical and statistical tools to analyze complex financial products and actuarial business;
4. Design and evaluate the pricing of derivative securities with quantitative models, manage trading strategies and simulate market scenarios;
5. Engaged in accounting and marketing activities, technical risk management and project portfolio evaluation;
6. Pay attention to and criticize the explanation of business problems and quantify financial risks with the most advanced methods; and
7. Carry out general practice and financial engineering actuarial in an intelligent way.
Four, the core course of financial mathematics:
1. Mathematical methods of financial and insurance actuarial science
2. Financial and insurance actuarial science
investment
4. Actuarial science
5. Numerical method
6. Data Warehouse and Data Mining
7. The advanced theme is financial engineering.
8. Fixed income securities
9. Credit risk management
10. Statistical modeling in risk management
1 1. Business forecasting method
12. Data mining technology
The above courses are for reference only, and the courses of different institutions will be different.
5. Studying financial mathematics in Hong Kong, overseas experts suggest that students can choose the following institutions:
1. University of Science and Technology: Financial Mathematics
2. City University: Financial Engineering/Finance and Actuarial Mathematics/
3. Polytechnic University: Applied Mathematics of Science and Technology (Actuarial and Investment Science)
5. Baptist University: Financial Mathematics/Operations Research and Business Statistics.