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This textbook offers an easily understandable introduction to the fundamental concepts of financial mathematics and financial engineering. The author presents and discusses the basic concepts of financial engineering and illustrates how to trade and to analyze financial products with numerous examples. Special attention is given to the valuation of basic financial derivatives. In the final section of the book, the author introduces the Wiener Stock Price Model and the basic principles of Black-Scholes theory. The book¿s aim is to introduce readers to the basic techniques of modern financial mathematics in a way that is intuitive and easy to follow, and to provide financial mathematicians with insights into practical requirements when applying financial mathematical techniques in the real world.

The textbook discusses risk management in capital markets and presents various techniques of portfolio optimization. Special attention is given to risk measurement and credit risk management. Furthermore, the author discusses optimal investment problems and presents various examples. In the last section, the book includes numerous case studies based on the author¿s own work as a fund manager, court-appointed expert and consultant in the field of quantitative finance. This book is the third volume of the quantitative finance trilogy by the author and builds on the theoretical groundwork introduced in the previous books. The volume presents real-life examples of the successful application of the introduced techniques and methods in financial services and capital markets.

This book covers a lot of ground in contemporary macroeconomics, from fundamental theories such as market structures and equilibrium to emerging concepts that reflect the most critical challenges of modern times, including economic slowdowns, the resilience of public health systems, digitalization, environmental footprints, and many more. The COVID-19 outbreak has aggravated the recurrent problems of poverty and income inequality between countries, food insecurity and hunger, unemployment, and social disorders that have resulted in the exacerbation of political, economic, and trade tensions between countries. In view of the damaging consequences of the pandemic for the entire global economy, the book examines how existing macroeconomic tools and policies could be adapted to the new normal to ensure sustainable post-pandemic development and growth.The main text is interspersed with real-life illustrations and cases that demonstrate practical implications of the concepts under study. This makes the reading relevant and active. Every chapter starts with learning objectives and ends with a series of questions and quizzes that enable easier reinforcement of the course content. This book is written mainly for students, but it would be much useful to the broader public audience, including postgraduates, researchers, and business people who will be able to learn all recent updates about macroeconomics and the post-pandemic perspectives of the global economy.

This textbook provides a comprehensive introduction to portfolio management and investments. Focusing on four core areas ¿ portfolio management, equities, bonds, and derivatives ¿ it is primarily intended for undergraduate and graduate students alike. However, it will also benefit practitioners working in the fields of financial analysis and portfolio management and professionals who aspire to such professional activities in the financial industry. To ensure its high practical relevance, the book includes a host of case studies and examples from real-world practice, mainly from the German and Swiss financial markets. Additionally, the book shows how to implement the models in Microsoft Excel.

This textbook offers a detailed account of analytical models used to solve complex supply chain problems. It introduces a unique risk analysis framework that helps the reader understand the sources of uncertainties and use appropriate models to improve decisions in supply chains. This framework illustrates the complete supply chain for a product and demonstrates the supply chain's exposure to demand, supply, inventory, and financial risks. Step by step, this book provides a detailed examination of analytical methods that optimize operational decisions under different types of uncertainty. It discusses stochastic inventory models, introduces uncertainty modeling methods, and explains methods for managing uncertainty. To help readers deepen their understanding, it includes access to various supplementary material including an online interactive tool in Python. This book is intended for undergraduate and graduate students of supply chain management with a focus on supply chain analytics. It also prepares practitioners to make better decisions in this field.

This book introduces the reader to the business of clothes, with flashbacks into the past, business models of today, and ideas for a sustainable future. Historical perspectives discuss the cotton industry in India, Bangladesh, Greece, and Central Asia, which help trace the evolution of the clothing industry during the 20th century. Chapters also discuss fashion marketing, greenwashing, blockchain in the fashion supply chain, social media, sustainability issues, and sensory models. Several business models are explained; topics covered include blue ocean strategy, the unstitched market, the luxury sector, access-based consumption, and ethics. Among other topics explored are the future retail experience, consumer value creation, technology, and the impact of virtual atmospheres. The book also includes helpful case studies in understanding the country and culture-specific nuances of the clothing business.

This is the very first book to explicitly both detail the core general principles of institutional and evolutionary political economy and also apply the principles to current world problems such as the coronavirus crisis, climate change, corruption, AI-Robotics, policy-governance, money and financial instability, terrorism, AIDS-HIV and the nurturance gap. No other book has ever detailed explicitly such core principles and concepts nor ever applied them explicitly to numerous current major problems. The core general principles and concepts in this book, which are outlined and detailed include historical specificity & evolution; hegemony & uneven development; circular & cumulative causation; heterogeneous groups & agents; contradiction & creative destruction; uncertainty; innovation; and policy & governance. This book details the nature of how these principles and concepts can be used to explain current critical issues and problems throughout the world. This book includes updated chapters that have won two journal research Article of the Year Awards on climate change (one from the European Association for Evolutionary Political Economy, EAEPE); as well as a Presidential address to the Association for Evolutionary Economics (AFEE) on corruption.The structure of the book starts with two chapters on the principles of institutional and evolutionary political economy: firstly their history, and secondly a chapter on the contemporary nature of the principles and concepts. This is followed by nine chapters applying some of the core principles to current world problems such as the coronacrisis, climate change, corruption, AI-robotics, policy, money & financial instability, terrorism, HIV-AIDS and the nurturance gap. The book finishes with a conclusion, a glossary of major terms and an index. The author¿s principles are well established in the literature and this book provides a detailed exposition of them and their application.

This introductory textbook on social choice theory makes the social choice theoretic framework and its main results, that have a direct bearing on the discourses on electoral rules and policy evaluation, accessible to a larger audience. The text is essentially self-contained. No previous knowledge of mathematical logic or relational algebra is assumed. Whatever technical prerequisites are needed, are developed in the text itself. Although the text is at an introductory level, there has been no compromise on rigor. Unlike most introductory books, the relevant proofs are not omitted; rather, they have been explained in detail. The text has a large number of examples so that the concepts and results become clear to the reader. There is a large number of exercises with full solutions provided at the end of the text, so that the reader can check her/his understanding of the material.

This book gives an overview of the most common techniques used by analysts and experts to assess and value banks in all phases of a Bank¿s life, from licensing to resolution. These include licensing procedures, going concern market valuation techniques, liquidation, and resolution methodologies. The author sheds light on financial institutions¿ reporting and financial statements and explains how to interpret the data. Special attention is given to the different valuation approaches for financial institutions ranging from the basic PE and PBV methodologies to the more sophisticated ones such Discount cash flow (DCF), Dividend discount model (DDM), excess return models (EVA), and their variant, the warranted equity value (WEV) method. The authors also illustrate how to build a sum-of-the-parts model (SOTP) and how to treat capital in the process as well as developing a bottom-up approach for the cost of equity. The book provides numerous real-world examples which will hopefully help practitioners build their own MS Excel models. Furthermore, this publication investigates some of the critical aspects of banking M&A and its valuation implications.This book also takes a deep dive into valuation for Banks in gone concern status, describing the basis for three different types of valuation of Banks in resolution: to inform a decision on whether to put a bank into resolution; to inform the choice of resolution tools and the extent of any bail-in of liabilities; and to determine whether any creditors would have been better off had the bank gone into insolvency. Special attention is given to the valuation of non-performing loans (NPLs) and financial assets focusing on some operational aspects of winding-down a bank¿s loan and trading book portfolio.

This textbook introduces quantitative methods in operations management, based on operational research. Written for undergraduate and graduate students as well as practitioners, this book serves as a valuable compendium of essential tools for project planning, control, and strategic decision-making.Drawing from the expertise of both experienced scientists and seasoned practical managers, the descriptions of each tool are a harmonious blend of theoretical insights and real-world applicability. With a focus on accessibility, the authors have thoughtfully combined abstract concepts with easy-to-follow examples and detailed case studies.Readers will benefit from the abundance of well-explained recommendations and practical problem-solving approaches, where the book offers guidance on how to solve presented issues by using commercial software. Whether one seeks to refine project management, optimize operations, or make strategic choices, this book equips readers with theknowledge and proficiency required to excel in the dynamic field of operations management.

This textbook provides a one-semester introduction to mathematical economics for first year graduate and senior undergraduate students.