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23 May 2005 What physicists should know about finance
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Proceedings Volume 5848, Noise and Fluctuations in Econophysics and Finance; (2005) https://doi.org/10.1117/12.613074
Event: SPIE Third International Symposium on Fluctuations and Noise, 2005, Austin, Texas, United States
Abstract
There has been growing interest in Econophysics, i.e. analysis and modeling of financial time series using the theoretical Physics concepts (scaling, fractals, chaos). Besides the scientific stimuli, this interest is backed by perception that the financial industry is a viable alternative for those physicists who are not able or are not willing to pursue an academic career. However, the times when any Ph.D. in Physics had a chance to find a job on the Wall Street are gone (if they ever existed). Indeed, not every physicist wields the stochastic calculus, non-normal statistical distributions, and the methods of time series analysis. Moreover, now that many universities offer courses in mathematical finance, the applicants for quantitative positions in finance are expected to know such concepts as option pricing, portfolio management, and risk measurement. Here I describe a synthetic course based on my book [1] that outlines both worlds: Econophysics and Mathematical Finance. The course may be offered as elective for senior undergraduate or graduate Physics majors.
© (2005) COPYRIGHT Society of Photo-Optical Instrumentation Engineers (SPIE). Downloading of the abstract is permitted for personal use only.
Anatoly B. Schmidt "What physicists should know about finance", Proc. SPIE 5848, Noise and Fluctuations in Econophysics and Finance, (23 May 2005); https://doi.org/10.1117/12.613074
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