Glasgow, United Kingdom

Applied Statistics in Finance

Master's
Language: EnglishStudies in English
Subject area: mathematics and statistics
Qualification: MSc
Kind of studies: full-time studies
Master of Science (MSc)
University website: www.strath.ac.uk
Finance
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management. Market participants aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be broken into three sub-categories: public finance, corporate finance and personal finance.
Statistics
Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data. In applying statistics to, for example, a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model process to be studied. Populations can be diverse topics such as "all people living in a country" or "every atom composing a crystal". Statistics deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments. See glossary of probability and statistics.
Finance
There’s no longer any reason to believe that the wizards of Wall Street actually contribute anything positive to society, let alone enough to justify those humongous paychecks. ... It’s hard to think of any major recent financial innovations that actually aided society, as opposed to being new, improved ways to blow bubbles, evade regulations and implement de facto Ponzi schemes.
Paul Krugman, "Money For Nothing," The New York Times, April 26, 2009
Statistics
The rise of biometry in this 20th century, like that of geometry in the 3rd century before Christ, seems to mark out one of the great ages or critical periods in the advance of the human understanding.
Sir R.A. Fisher (Sept 1948). "Biometry". Biometrics 4: 217-219.
Statistics
Politicians use statistics in the same way that a drunk uses lampposts — for support rather than illumination.
Andrew Lang, in a 1910 speech: as quoted in Alan L. Mackay, The Harvest of a Quiet Eye (1977), and reported in Chambers Dictionary of Quotations (2005), p. 488.
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