MATHS REFRESHER

Course Outline

Mathematics is at the heart of financial techniques, but many finance texts and courses assume a lot of prior knowledge. This programme aims to bridge the gap between mathematical theory and financial practice by providing a practical and visual approach to the most useful theories and methods. Calculations will be fully explained, and Excel spreadsheets will be used as a supporting resource to provide further examples.

Who The Course is For

Anyone who needs to develop their understanding and use of mathematics in a financial context.

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Prior Knowledge:

The maths that you knew at school and some basic familiarity with Excel.

This program is eligible for 16 Continuing Education credit hours from the CFA Institute. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.

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Day One

Algebraic Functions

• Linear, quadratic, polynomial functions and splines
• Gradients, rates of change and differential calculus

Workshops:
     - Applications of optimisation
     - Yield curves, duration and convexity

Matrix Algebra

• Matrix rules and operations
• Simultaneous equations and solutions

Workshops:
      - Covariance matrix, risk and return
      - Matrices for hedging calculations

Day Two

Probability

• Sets, diagrams, notation and probability laws
• Normal, binomial and other probability distributions

Workshops:
      - Probability of bond default
      - Stochastic processes in markets

Forecasting and Regression

• Correlation, linear and multiple regression
• Real data and cautions in forecasting

Workshops:
      - Forecasting models
      - Time series of prices and volatility