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- 5/30/10
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Hey everyone. First post!
I came across a pdf lecture on google (can't find the link right now), and it said there were basically two approaches to mathematical finance: 1) stochastic analysis and statistics, and 2) partial differential equations (PDE). The lecture said the PDE approach wasn't as popular as it was often harder to do.
I was surprised at reading this as I'm currently studying for a masters degree in financial mathematics, and I was planing on incorporating a few courses on PDE in my degree. Is this a mistake/waste of time on my part? Are PDE's and SPDE's really not particularly important?
Looking forward to reading your answers! As I'm still a student, I don't really have a great insight in what people actually do in practice when it comes to financial mathematics. Please, enlighten me.
I came across a pdf lecture on google (can't find the link right now), and it said there were basically two approaches to mathematical finance: 1) stochastic analysis and statistics, and 2) partial differential equations (PDE). The lecture said the PDE approach wasn't as popular as it was often harder to do.
I was surprised at reading this as I'm currently studying for a masters degree in financial mathematics, and I was planing on incorporating a few courses on PDE in my degree. Is this a mistake/waste of time on my part? Are PDE's and SPDE's really not particularly important?
Looking forward to reading your answers! As I'm still a student, I don't really have a great insight in what people actually do in practice when it comes to financial mathematics. Please, enlighten me.