Mastering Mathematical Finance Online Courses - Discrete Models of Financial Markets


Program Description

The courses are based on 8 books from the "Mastering Mathematical Finance" (MMF) series published by Cambridge University Press. There are 8 individual courses - each covering the contents of one of the books.

Delivery is by means of one-to-one tutorials conducted via Skype by the authors and editors of the series, and regular coursework.

Who are the courses aimed at?

The courses are designed to meet the continuing professional development and training needs of:

  • Finance or IT professionals working in quantitative finance and risk management
  • Individuals seeking a career change, managers who need to keep abreast with progress in these fields
  • Prospective students who would like to prepare for entry to relevant postgraduate degree programmes

Pre-sessional course

(Pre-sessional course "Mathematics for Quantitative Finance" - This course is suitable for candidates who need to consolidate their mathematics background before embarking on some or all of the 8 courses. Cost - £1500)

Method of Delivery List of Courses

  • Each online course to be based on a book from the MMF series, with an additional set of exercises, and involves 10 rounds of activities culminating in 10 one-to-one online sessions. Each course takes approximately 4 - 8 months to complete.
  • Each of the 10 rounds consists of:
    • self-study based on the book,
    • problem-solving: solutions submitted and marked electronically,
    • model solutions to the problems attempted,
    • written feedback on the work submitted,
    • one-hour one-to-one online session via Skype with screen sharing, conducted by one of the authors of the MMF series, tailor-made for individual requirements, a combination of lectures and tutorials.
  • Additionally, each module to provide:
    • an online discussion forum,
    • email support,
    • final test.
  • Induction meeting via Skype to cover technical matters before the start of the first module (including help in using the software needed for online delivery). Each student will need a decent internet connection (broadband standard), a Windows or Mac computer and a Skype account. There is some additional free software to install such as the LyX mathematical editor.
  • Additional pre-sessional course available for delegates who need to revise or acquire relevant mathematical background.

About the Discrete Models of Financial Markets

This book explains in simple settings the fundamental ideas of financial market modeling and derivative pricing, using the no-arbitrage principle. Relatively elementary mathematics leads to powerful notions and techniques - such as viability, completeness, self-financing and replicating strategies, arbitrage and equivalent martingale measures - which are directly applicable in practice. The general methods are applied in detail to pricing and hedging European and American options within the Cox–Ross–Rubinstein (CRR) binomial tree model. A simple approach to discrete interest rate models is included, which, though elementary, has some novel features. All proofs are written in a user-friendly manner, with each step carefully explained and following a natural flow of thought. In this way, the student learns how to tackle new problems.

Written specifically at the Master's level by experienced lecturers, so readers can dive in directly The mathematics is rigorous but also motivated, so readers see how to apply what they learn Clear, concise and short, so readers can master the whole topic

Last updated Feb 2018

Keystone Scholarship

Discover the options our scholarship can give you

About the School

Founded on principles of excellence, equality and opportunity for all, the University of York opened in 1963 with just 230 students. Since then we have become one of the world's leading universities, ... Read More

Founded on principles of excellence, equality and opportunity for all, the University of York opened in 1963 with just 230 students. Since then we have become one of the world's leading universities, carving out a reputation as an academic powerhouse where a clear focus on excellence has secured national and international recognition alongside longer established institutions. Read less