Mathematical Modeling in Economics and Finance

This textbook focuses on financial modeling for economic risk management, blending mathematical concepts with practical applications. Mathematical Modeling in Economics and Finance is ideal for upper-division courses.

This textbook offers a comprehensive exploration of modeling, particularly in the context of financial instruments used for managing economic risk. It merges mathematical modeling with essential tools from probability theory, differential equations, numerical simulation, and data analysis. The primary focus of Mathematical Modeling in Economics and Finance is on the modeling process itself, emphasizing the importance of post-modeling analysis and critique, making it an invaluable resource for upper-division courses in economic sciences.

Students engaging with Mathematical Modeling in Economics and Finance will gain insights into fundamental stochastic processes and the solutions to stochastic differential equations. The text equips learners with the necessary skills to effectively model financial risk management. Through this process, students will cultivate a deep understanding of the modeling journey, learning evaluation and testing methods that are data-driven. This foundation prepares them for entry-level roles in the financial services sector or for advanced studies in finance, economics, or actuarial science.

The clarity of exposition in Mathematical Modeling in Economics and Finance ensures it is accessible and student-friendly. The book includes numerous well-designed exercises that reinforce learning. Authored by Steven Dunbar, a Professor Emeritus of Mathematics at the University of Nebraska, the text reflects his award-winning teaching prowess and ability to communicate complex mathematical concepts effectively, making it a valuable addition to any academic curriculum.