The course introduces the elements and techniques of risk engineering spanning the following: Probabilities and their distributions and data analysis and statistics as well as Monte Carlo simulation. Throughout, these techniques are demonstrated through special problems and cases providing the necessary tools and concepts for dealing with major problems in risk engineering, decision-making under uncertainty, and financial management and pricing. The course is based on multiple sessions in a Financial Laboratory environment, using computational-risk software, statistical and financial econometric software, and simulation programs and software.
Prerequisite: FIN 2203. Co-Registration Requirements: FIN 2003, FIN 2103.