The finance industry has undergone a transformation thanks to mathematics. Financial mathematics first emerged in the early 1970s through the pioneering work of Black, Scholes, and Merton, and has since grown into a trillion-dollar industry. Financial mathematics is crucial to the derivatives market, and mathematical risk management principles are widely used throughout the financial sector. Since the financial crisis in 2008, there has been an increased demand for sound risk management and realistic modelling.
Financial mathematics is a multidisciplinary field that combines various branches of pure and applied mathematics, such as probability, optimisation, functional analysis, partial differential equations, statistics, geometry, complex systems, and numerical analysis. Moreover, financial mathematics benefits from collaborations with other disciplines such as economics, operations research, theoretical physics, and computer science. The relevance of financial mathematics extends beyond finance, even to areas like healthcare.
Department Members in This Field
Faculty
- Prof Chisara Peace Ngozi Ogbogbo Financial Mathematics, Commodity Modeling, Interest Rate Modeling, Mathematical Modeling
- Dr Seth Okyere Sarfo Commodity Derivatives Modeling, Pricing, Risk Management, Data Analytics, Analysis of Complex Structured and Unstructured Data Sets
- Dr Edward Korveh Mean-variance portfolio selection, risk-indifference pricing of financial derivatives
Graduate Students
- Isaac Quayson (MPhil Candidate),
- Daniel Okyere (MPhil Candidate),