Average customer rating:
- Absolutely Great!
- A Cookbook for Financial Modellers
- Not really satisfying
- Advanced modelling in finance using Excel and VBA
- Highly Recommended
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Advanced modelling in finance using Excel and VBA
Mary Jackson , and
Mike Staunton
Manufacturer: Wiley
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Similar Items:
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Financial Modeling - 2nd Edition: Includes CD
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Financial Modeling Using Excel and VBA (Wiley Finance)
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Principles of Finance with Excel: Includes CD
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The Complete Guide to Option Pricing Formulas
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ASIN: 0471499226 |
Book Description
This new and unique book demonstrates that Excel and VBA can play an important role in the explanation and implementation of numerical methods across finance. Advanced Modelling in Finance provides a comprehensive look at equities, options on equities and options on bonds from the early 1950s to the late 1990s.
The book adopts a step-by-step approach to understanding the more sophisticated aspects of Excel macros and VBA programming, showing how these programming techniques can be used to model and manipulate financial data, as applied to equities, bonds and options. The book is essential for financial practitioners who need to develop their financial modelling skill sets as there is an increase in the need to analyse and develop ever more complex 'what if' scenarios.
- Specifically applies Excel and VBA to the financial markets
- Packaged with a CD containing the software from the examples throughout the book
Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
Customer Reviews:
Absolutely Great!.......2006-01-11
Advanced Modeling is a fantastic book, and pretty easy to follow with relatively few coding errors. There are some books out there that have errors in the code that they use, which makes it difficult or someone to learn the techniques. Even for those without a solid background in VBA, this book can benefit you to start learning how to code properly. Anyone who is relatively proficient with Excel can definitely gain a new trick or two from reading this book. All you really need to start using this book is a basic understanding of finance concepts (e.g. portolio theory, capital budgeting, binomial options pricing, Black-Scholes, etc.). The techniques that are taught are also useful in other modeling exercises, and not necessarily just for finance-related topics.
A Cookbook for Financial Modellers.......2005-10-19
Yes, the book won't teach you CAPM, Black-Scholes, or much financial theory. But there is NO shortage of those books. There is a shortage of books with real-world Excel solutions to applying financial theory to data. I've had this book for a couple of years and have probably only used 10% of it, only because I don't have time, real business need, to do the rest. I sometimes take it to bed to read and dream of having the time to try out some of their other models. That's the only thing I can add to the other reviews here, the amount of love and passion for the subject put into this book. There's not one extra padded word or graphic in this book. Yes, if there was one book I'd have to take to a desert island with Excel and some financial data this would be it.
Not really satisfying.......2004-06-05
One of the main points of programming books is to help the reader understand the models being programmed. On this count, "Advanced modelling in finance using Excel and VBA" fails miserably. There is very little explanation of the financial concepts and models. Anyone hoping to learn finance from this book will be very disappointed.
The result is a series of programming black boxes and ugly spreadsheets having only limited usefulness.
Although the level of his book is somewhat lower, Benninga's "Financial Modeling" book is much better at explaining the conceptual basis of financial models. A good programmer will be better off with Benninga than with Jackson-Staunton.
Advanced modelling in finance using Excel and VBA.......2004-03-15
This is probably the best book written on financial modeling in excel, definitely worth the $50. Comes with a great CD-ROM. The books strength is its illustration of financial models and implantation in Excel. Since the models focus on static solutions the book is probably of greater use in academics than in industry. It would be great if there was instruction about how to input real time data into Excel and implement the models dynamically. Of particular interest to me is the great VBA code given on the CD, namely the code to calculate autocorrelation, cubic spines, eigenvalues and eigenvectors. This alone was worth the 50 bucks.
There are some major deficiencies in this book. Noticeably absent topics include: bond portfolio immunization; swap pricing; forwards and futures hedging; the ARCH, GARCH and CHARMA models.
My background is in finance, mathematics and computer science. Unlike the guy above, I don't see any need for advanced mathematics in order to study this book. In fact I am sure you don't. The point is to make excel do it for you. However it will a lot easier for those who understand the finance and mathematics behind what they are telling excel to do. I am assuming that those who are considering this book most likely have taken at least one college level calculus course and one statistics course. But I don't think even that is necessary and definitely not stochastic calculus.
Highly Recommended.......2003-03-06
VBA is one of those tools I long knew I should be proficient in but never got around to learning. That is, not until I found this book. It makes it easy for a financial professional to quickly come up to speed and start coding VBA within spreadsheets. The fact that the focus is on financial applications means that you learn coding techniques that will be useful on the job. I highly recommend the book!
Book Description
Everyone knows the small-world phenomenon: soon after meeting a stranger, we are surprised to discover that we have a mutual friend, or we are connected through a short chain of acquaintances. In his book, Duncan Watts uses this intriguing phenomenon--colloquially called "six degrees of separation"--as a prelude to a more general exploration: under what conditions can a small world arise in any kind of network?
The networks of this story are everywhere: the brain is a network of neurons; organisations are people networks; the global economy is a network of national economies, which are networks of markets, which are in turn networks of interacting producers and consumers. Food webs, ecosystems, and the Internet can all be represented as networks, as can strategies for solving a problem, topics in a conversation, and even words in a language. Many of these networks, the author claims, will turn out to be small worlds.
How do such networks matter? Simply put, local actions can have global consequences, and the relationship between local and global dynamics depends critically on the network's structure. Watts illustrates the subtleties of this relationship using a variety of simple models---the spread of infectious disease through a structured population; the evolution of cooperation in game theory; the computational capacity of cellular automata; and the sychronisation of coupled phase-oscillators.
Watts's novel approach is relevant to many problems that deal with network connectivity and complex systems' behaviour in general: How do diseases (or rumours) spread through social networks? How does cooperation evolve in large groups? How do cascading failures propagate through large power grids, or financial systems? What is the most efficient architecture for an organisation, or for a communications network? This fascinating exploration will be fruitful in a remarkable variety of fields, including physics and mathematics, as well as sociology, economics, and biology.
Customer Reviews:
All the details you need to know to understand Watts' and Strogatz' famous article.......2007-03-12
The book basically gives all the details needed to understand Watts and Strogatz famous Nature article 'Collective Dynamics of Complex Networks' in 1998. I think that it is basically Watts PhD-thesis and as such it is of course nicely written, but nothing for the laymen who is rather referred to Watts other, more story-telling book 'Six Degrees', Barabasi's book 'Linked', or to another book that I would recommend most, namely the one by Mark Buchanan titled 'Small Worlds'. Mark is a skillful scientific writer and his book has a broader scope that makes it more interesting than each of the two monographs that are a bit more focused on the scientists own contribution.
Not enough contents to be a good book.......2005-07-08
Networks are since a couple of years object of intense research in several different disciplines. One reason therefore is certainly the outstanding article by Watts and Strogatz, Collective dynamics of small world networks, Nature, 393:440--442, 1998. Unfortunatelly, this book can not continue the high level of this article. Actually, it does not really provide much more information than the article itself. I would suggest to read the article cited above and either decide for another book or to look directly in the literature and read the origninal articles.
To summarize, this book is not terribly weak, but one can clearly sees that it swims on the current 'complex networks' wave without providing enough justification for its existence. Of course, if you do not have access to the original literature and just what to have a general overview of complex networks and what be done with them, you may consider buying this book.
Good, but some typos.......2005-06-02
Mathematical level: Moderate; there's no calculus, and little high level math, but the book is quite mathematical in tone, and some of the arguments may be difficult to follow without a good "math sense". There are MANY equations and graphs.
Good points: Watts covers an area that will interest those who deal with mathematical models of social networks e.g. models of disease-spread, especially HIV. It might, however, cover other things that can spread through networks as well. He presents analysis of graphs (or networks) that are neither random nor highly structured; and begins to examine ways that the degree of structure v. randomness can be measured.
Bad points: There are more than the usual number of typos. The models presented are a "first step", only.
Inspiring.......2001-07-24
The author believes that human thought might be a small world, in the sense that one could reach any idea if he/she finds the right associations and "short-cut"s. The small-world theory is indeed one of those short cuts itself. It links many different domains and uncovers some interesting common behavior.
The theory is developed in a scientific manner with extensive numerical support. Rich literature reviews and many open questions make this book a good research reference. Complex observations are generally followed by qualitative explanations. However, some of the simpler derivations are not fully clear. I believe that adding a few lines here and there can turn this book into a textbook.
The book spans many different areas of science and a deep understanding of the related results may require some background. However, each chapter ends with a brief summary, allowing the reader to move forward if he/she finds the chapter difficult. In summary, as the author puts it, the book is simply the "end of the beginning" in an exciting new field.
Great scientific synthesis.......2000-07-12
The book takes a systematic look at the 'small world' graphs. These natural graphs have been discovered by graph theoretist as erly as 60's, but were not properly understood. The graphs are remarkable in their ability to cluster and scale lengths. There are fundumental connections between these graphs and complex systems, discrete dynamical systems, computation and information processing. Duncan has done a tremendous job in building experimetal and theoretical models trying to understand how these graphs come about and sustain themselves. Read this book.
Book Description
A comprehensive guide to financial econometrics
Financial econometrics is a quest for models that describe financial time series such as prices, returns, interest rates, and exchange rates. In Financial Econometrics, readers will be introduced to this growing discipline and the concepts and theories associated with it, including background material on probability theory and statistics. The experienced author team uses real-world data where possible and brings in the results of published research provided by investment banking firms and journals. Financial Econometrics clearly explains the techniques presented and provides illustrative examples for the topics discussed.
Svetlozar T. Rachev, PhD (Karlsruhe, Germany) is currently Chair-Professor at the University of Karlsruhe. Stefan Mittnik, PhD (Munich, Germany) is Professor of Financial Econometrics at the University of Munich. Frank J. Fabozzi, PhD, CFA, CFP (New Hope, PA) is an adjunct professor of Finance at Yale University’s School of Management. Sergio M. Focardi (Paris, France) is a founding partner of the Paris-based consulting firm The Intertek Group. Teo Jasic, PhD, (Frankfurt, Germany) is a senior manager with a leading international management consultancy firm in Frankfurt.
Book Description
The Advanced Planner and Optimiser (APO) is the software from SAP dedicated to supply chain management. This book provides an overview about the supported SCM processes and explains how to implement APO in a company. It is written from a long years' experience in implementation projects and provides project managers and team members with the necessary know-how for a successful implementation project. The focus of the book is on introducing modelling approaches and explaining the structure and interdependencies of systems, modules and entities of APO based on the release mySAP SCM 4.1. Another concern is the integration with R/3, both technically and from a process point of view. Since APO projects differ significantly from other SAP projects, some key issues and common mistakes concerning project management are mentioned as well.
Customer Reviews:
APO Concepts.......2007-01-25
It's the best book about APO I've ever read. For people that already have an idea of APO principles, it's a mix of technical and practical concepts. I recommend.
Good Overview of APO.......2006-08-24
Very useful information on APO. I have been an APO consultant for several years, and its a good source of information. Lots of information that is not readily available or known without searching for it. Recommended.
Book Description
Advanced International Trade is the first major graduate textbook in international trade in a generation. Trade is a cornerstone concept in economics, taught in all departments both in the United States and abroad. The past twenty years have seen a number of new theoretical approaches that are essential to any graduate international trade course, and will be of interest in development economics and other fields. Here, Robert Feenstra steps beyond theory to consider empirical evidence as well. He covers all the basic material including the Ricardian and Hecksher-Ohlin models, extension to many goods and factors, and the role of tariffs, quotas, and other trade policies; recent material including imperfect competition, outsourcing, political economy, multinationals, and endogenous growth; and new material including the gravity equation and the organization of the firm in international trade.
Throughout the book, special emphasis is placed on integrating the theoretical models with empirical evidence, and this is supplemented by theoretical and empirical exercises that appear with each chapter. Advanced International Trade is intended to bring readers to the forefront of knowledge in international trade and prepare them to undertake their own research. Both graduate students and faculty will find a wealth of topics that have previously only been covered in journal articles, and are dealt with here in a common and simple notation. In addition to known results, the book includes some particularly important unpublished results by various authors. Two appendices describe empirical methods applicable to research problems in international trade, methods that draw on (i) index numbers and (ii) discrete choice models. Thoroughly up-to-date and marked by clear, straightforward prose, this book will be used widely--and enthusiastically.
Professors: A supplementary Solutions Manual is available for this book. It is restricted to teachers using the text in courses. For information on how to obtain a copy, refer to: http://pup.princeton.edu/class.html
Customer Reviews:
Excellent Condition & On time.......2005-09-25
It is on time and the book is in good condition.
The current standard.......2004-06-03
In my opinion this is the best book currently available for a graduate course in real-trade theory. I have already used it twice in class and my students have invariably preferred it to other recent works available, e.g., K.Y. Wong or Bhagwati et al. Compared to these, this book is better written and focuses judiciously on the models that yield the sharpest conclusions and most relevant insights. Discussions of the significance of gravity models, foreign investments, political economy, free trade areas, and institutional factors in trade (e.g., ethnic networks) are particularly clear and up to date compared with other texts.
The required mathematical apparatus (e.g., envelope and duality results) is introduced naturally, intuitively, and only as and when it is needed. The English flows easily, and the interweaving of theoretical and empirical material is especially novel and welcome.
This book should set the standard for writing graduate texts.
Advanced International Trade: Theory and Evidence.......2004-05-05
I really expected far more from this textbook. It adds very little to already existing graduate textbooks on trade. It is not useful for graduate students that want to understand the literature of the 2000s. It assumes you already know the material. It debotes a lot of space to the old literature at the expense of the new one. This is a field that has changed significantly. Frankly, I find hard to see its value added.
Average customer rating:
- Excellent Micro book
- The best book for Micro
- Fantastic
- I wish I knew about this book before grad micro...
- Disappointed
|
Advanced Microeconomic Theory (2nd Edition)
Geoffrey A. Jehle , and
Philip J. Reny
Manufacturer: Addison Wesley
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ASIN: 0321079167 |
Customer Reviews:
Excellent Micro book.......2007-06-29
This book is excellent. If you are a graduate student in economics I widely recommend it. I particullarly like the chapters on game theory, general equilibrium, asymmetric information, and auctions.
The best book for Micro.......2005-03-16
Firstable, this is a Graduate Micro book, nobody could properly say that it is not good if she is trying to get some stuff of this topic for the first time, this is not the goal of this book, it was created to make first year econ-grad students lives better.
I used MWG (Mas Colell) for the first semester Micro of the Phd program and most of my partners and I hated it, it is so complicated and has some excessive and wording detail for even simple things, however I should recognize that it is more complete than the rest of books, now in the second Micro we're using Jehle and Reny and we love it, to be honest this is the best book in Micro now (according to my knowledge and point of view), we also use Silberberg sometimes (very good) and Varian (has a lot of gaps even though it is easy to understand too) but this is the best, it is not probably as complete as MWG but it is more neat, precise and far more understandable, general equilibrium part has one third of the pages of MWG but it is better, it doesn't have Offer curves neither other minor things but the proofs of existence of Walrasian equilibrium and the welfare theorems are incredibly powerful and far shorter than those of MWG. For Game Theory it is also very very good, clear and precise without excessive wording.
I almost forgot....the Math appendix is the best I've ever found in any other Micro book, it gives you precisely what you need to get into the business.
This book is like "pure gold" no regrets of any kind.
Aldo.
Fantastic.......2005-02-28
While the book is certainly aimed more at grad students, I've found it to be invaluable in my undergraduate studies. It delves deep into the analytical mathematics behind microeconomics, where Varian and Nicholson brush lightly across the surface.
Good for both undergraduates and graduates. Familiarity with the structure of analytic mathematical arguments required. Not for the economically or mathematically faint-of-heart.
I wish I knew about this book before grad micro..........2004-05-18
The assigned text in my graduate micro theory class was Mas-Collel/Whinston/Green (MWG), a book that I couldn't wait to get rid of. However, I have a much better appreciation of MWG after having read Jehle and Reny (JR). JR is strong where MWG is weak and vice versa. JR provides a clear, self-contained introduction to key concepts in advanced micromicroeconomic theory but is not comprehensive in its coverage. MWG on the other hand is more terse and requires a greater level of math preparation, but is truly the encyclopedia of micro. Regarding the comments of the disappointed reader from Cambridge MA, it's true that there are not many applications in J&R, but that's not really the point of this book. As the title indicates, this is a theory book. Nicolson's or even Varian's intermediate texts are good places to look for applications. But for grad micro theory, I would recommend reading both JR and MWG, in that order.
Disappointed.......2003-12-21
I am a Finance Ph.D. student and I bought this textbook for my Micro class, and I found that this book did a very poor job in explaining the Micro concepts to a student like me with solid math background but little micro one. The authors, for some reason, use a more than difficult language to explain even the simple things. I believe that great teacher is the one who can explain even the most complicated concepts in simple way. Obviously I do not put Jehle- Reny in this teacher category. If you want to get a simple yet meaningful concept explanation, check out Walter Nicholson's book. I highly recommend that book for the introduction to Micro.
If you want to buy a Micro textbook, do not take these people's feedbacks instantly. Chances are WE ALL ARE DIFFERENT that we have different opinions, so compare the books and decide for yourself !
Happy hunting !
Average customer rating:
- Helpful
- A solid introduction
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Schaum's Outline of Mathematical Methods for Business and Economics
Edward T. Dowling
Manufacturer: McGraw-Hill
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ASIN: 0070176973 |
Book Description
This Schaum's Study Guide is the perfect tool for getting a handle on mathematical methods used in business and economics. Fully stocked with solved problemsÑ1066 of themÑit shows you how to solve problems that may not have been fully explained in class. Plus you get hundreds of additional problems to use for practice, with answers at the back of the book. Ideal for independent study, brushup before an exam, or preparation for professional qualifying tests, this Schaums Guide is clear, complete, and well-organized. It's the perfect supplement for your course in mathematical methods for business and economics and a path to mathematical adeptness for the math-challenged.
Customer Reviews:
Helpful.......2007-01-04
I found this book helpful in the course that I took in Mathematical Economics. It was a useful accompaniment to the text used in the course, Fundamentals of Mathematical Economics by Alpha Chiang.
A solid introduction.......2000-05-12
...to the topic, although a bit more depth would be the only thing lacking it. I recommend it to anyone who is studying business and is struggling with the math side of it, although as you progress in your studies, you will notice that the book doesnt go into enough depth, especially in the area of differential geometry.
Book Description
This book describes and demonstrates how SAP
® APO can be used to tackle real optimization problems arising in industry. In a unique combination it deals with the aspects of model-building as well as with the implementation in commercial supply chain management software, SAP
APO being a typical example of an advanced planning system (APS).
The authors address readers involved in optimization projects in which SAP and, particularly, SAP
APO are implemented in companies. These are the project designers, projects leaders, the IT personnel inside the companies, but also operations research practitioners, supply chain management consultants, and decision makers in the area of tool selection for optimization tasks.
Customer Reviews:
Nice Overview, Not a Manual.......2007-01-11
This is a good overview of the SNP Optimizer and other modules in APO. It also goes into other optimization models (outside SAP), and has valuable examples of these in industries where optimization modeling long preceded SAP and SAP APO like the chemical and petroleum industries. Walking through the decisions of how these clients decided to either convert their models to an SNP implementation or use the external model as a bolt-on (the authors and SAP people prefer the term "plug-in") was enlightening.
This book will save you some grief in the decision-making process up-front, but it is not a how-to manual. At the time of writing the authors did not know of many live implementations of the SNP optimizer. The focus is on pre-implementation decisions and implementation. There is a lot of talk about what in SNP is technically possible, but not advised and could yield an impractical implementation. The book provides a good perspective for experienced practitioners of optimization modeling.
Good overview of SNP Optimizer.......2006-08-24
Good overview of SNP Optimizer. Does not get into details, but does show explain how optimizer works. Good examples of implementations for clients in various industries. Strictly concerned with SNP Optimizer. Good reference material but would not use on an on-going basis.
Book Description
Written in a reader-friendly manner, this reference is designed to meet the needs of readers who want to master the interest theory and finance topics addressed in the Financial Mathematics exam.
Requires an algebra background; calculus not a prerequisite. Encourages readers to practice writing throughout, and more than 30 end-of-chapter writing exercises are included. Provides more than 240 worked examples in a wide range of difficulty. Features abundant examples, discussion, and problems throughout.
A useful guide for readers planning to take the Financial Mathematics exam.
Mathematical Interest Theory, 1/E
James W. Daniel
Leslie Jane Federer Vaaler
Customer Reviews:
One of the worst books .......2007-05-23
I'm a computer engineering and math double major. I took a math class about interest and this is the book associated with the class. This is one of the worst books, the sections do not prepare you for the end of chapter problems. The questions are unclear it's either that they need to improve the questions or the sections. This book sucks, I rated it 1 star because there are no negative stars. This is the worst book ever. I was so angry at this book I actually burnt it after I was done with that class. Waste of money, waste of time. Infact my I.Q. probably decreased after reading this book and attempting the excersises at the end of the chapter.
Purchase at your own risk.......2007-05-05
To begin with, I think that this book is written for those who already have a familiarity with the material. Just so you know my experience with this book, I took a college math course where this was the required text. I soon found out, that the examples through the chapter were decent, but the questions at the end had little or no correlation to those previously read in the chapter. I should add that what made these questions decent is that you could decipher the meaning of the chapter examples because the examples solutions were directly after.
I think that if the author spent a little more time making the review problems a little more understandable and similar to those seen previously, than thinking up different names for the people in every single problem, He may have written a decent book. And that is a BIG MAYBE!
If you are thinking of purchasing this book to prepare for the Actuary FM Exam, DON'T. Stick to the ones on the SOA recommended list, or one of the Temple or Actex study manuals.
Stick to SOA/CAS Syllabi.......2007-03-20
I used this text in a class designed to prepare me for my FM exam. It didn't. The text has some usefull calculator exercises but the homework problems are not comensurate with the level of difficulty in the section examples. If you are preparing for the actuarial FM exam, don't use this book. Stick to the texts reccomended by the SOA and CAS.
Perfect for FM exam.......2006-07-26
I highly recommend this book for students studying for the FM exam. I read the book cover to cover and passed the exam. It is easy to read and is full of examples to illustrate the concepts. The difficulty levels presented make a nice range; there are a good mix of problems designed to reinforce the concept as well as problems using a combination of concepts (much like the FM exam).
Where to get more information.......2006-03-24
Of course I like the book---I'ma co-author. For sample sections and more information, see http://www.actuarialseminars.com/book.html .
Book Description
This valuable text provides a comprehensive introduction to VAR modelling and how it can be applied. In particular, the author focuses on the properties of the Cointegrated VAR model and its implications for macroeconomic inference when data are non-stationary. The text provides a number of insights into the links between statistical econometric modelling and economic theory and gives a thorough treatment of identification of the long-run and short-run structure as well as of the common stochastic trends and the impulse response functions, providing in each case illustrations of applicability. This book presents the main ingredients of the Copenhagen School of Time-Series Econometrics in a transparent and coherent framework. The distinguishing feature of this school is that econometric theory and applications have been developed in close cooperation. The guiding principle is that good econometric work should take econometrics, institutions, and economics seriously. The author uses a single data set throughout most of the book to guide the reader through the econometric theory while also revealing the full implications for the underlying economic model. To test ensure full understanding the book concludes with the introduction of two new data sets to combine readers understanding of econometric theory and economic models, with economic reality.
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