Computational Finance Assignment Help
Computational finance is sometimes referred to as financial engineering. It is an interdisciplinary course comprising numerical methods, mathematical finance, and computer simulations. It is an applied computer science branch that deals with practical problems in finance. Alternatively, it can be defined as the study of algorithms and data used in finance and computer simulations to develop models, which help a company increase profits while at the same time reducing risk.
The main role of computational finance practitioners is to value financial instruments like a hedge, options, and financial derivatives. In addition, they create an optimal portfolio for the financial instruments and evaluate the risk in the portfolios. This makes the computational finance practitioners an asset to companies such as banks, insurance, data providers, financial software providers, and fund managers.
Skill acquired from studying computational finance
In most universities, the course is offered by the department of computer science and economics. By enrolling for this course, students can get a master's degree in computational finance. Thus, the knowledge and skills gained by studying computational finance are a mix of two disciplines (computer science and economics).
Some of the skill sets acquired by the students of computational finance are mentioned below –
- They develop analytical skills, which are essential for applying computational finance methods in real and practical problems such as financial derivatives.
- They are able to work with statistical software such as R and Matlab.
- They start working with database systems such as SQL
- They develop the expertise to apply computational finance knowledge in machine learning.
With these skills, the demand for computational finance practitioners is buoyant. It is one of the attractive courses that can be pursued after graduating. But this course needs a good prior exposure to programming knowledge in statistical software, engineering, computer science, economics, and finance.
Computational finance job titles.
Below are some job titles that anyone with a master’s degree in computational science can work in.
- Quantitative analyst
- Data analyst
- Senior data analyst
- Financial engineer
- Risk analyst
- Financial associate
- Credit risk analyst
- Quantitative strategist
- Fixed income quantitative analyst
- Quantitative investment analyst.
History of computational finance
The first case when computational finance methods were applied was in the 1950s by Harry Markowitz, who conceived a portfolio using the mean-variance technique. However, at this time, there was little advancement in computer power. Together with a group of hedge fund managers, Harry Markowitz pioneered the use of computers in arbitrage pricing in the 1960s.
Computational finance development got a large boost in the 1980s after the cold war when a large group of displaced physicists joined finance. This led to an increase in the range of applications of computational finance, which resulted in it being recognized as a distinct academic course. In 1994, Carnegie Mellon University offered the first known degree in computational finance. Since then, computational finance has grown tremendously and has established itself as a vital course in the financial domain.
Units in college that teach computational finance methods.
- Data mining
- Quantitative Finance 1
- Credibility theory
- Financial economics
- Stochastic processes
- Interest rates models
- Financial management
- Methods of computational finance
- Deep learning
- Advanced deep learning.
Computational finance assignment helper.
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