Professional Degree courses in Dentistry, Education, Law, Medicine and Theology (MTS, MDiv)
Courses offered by Continuing Studies
Graduate Studies courses
* These courses are equivalent to pre-university introductory courses and may be counted for credit in the student's record, unless these courses were taken in a preliminary year. They may not be counted toward essay or breadth requirements, or used to meet modular admission requirements unless it is explicitly stated in the Senate-approved outline of the module.
1.0 course not designated as an essay course
0.5 course offered in first term
0.5 course offered in second term
0.5 course offered in first and/or second term
1.0 essay course
0.5 essay course offered in first term
0.5 essay course offered in second term
0.5 essay course offered in first and/or second term
1.0 accelerated course (8 weeks)
1.0 accelerated course (6 weeks)
0.5 graduate course offered in summer term (May - August)
0.25 course offered within a regular session
0.25 course offered in other than a regular session
1.0 accelerated course (full course offered in one term)
0.5 course offered in other than a regular session
0.5 essay course offered in other than a regular session
A course that must be successfully completed prior to registration for credit in the desired course.
A course that must be taken concurrently with (or prior to registration in) the desired course.
Courses that overlap sufficiently in course content that both cannot be taken for credit.
Many courses at Western have a significant writing component. To recognize student achievement, a number of such courses have been designated as essay courses and will be identified on the student's record (E essay full course; F/G/Z essay half-course).
A first year course that is listed by a department offering a module as a requirement for admission to the module. For admission to an Honors Specialization module or Double Major modules in an Honors Bachelor degree, at least 3.0 courses will be considered principal courses.
Basic securities, financial market conventions, swaps, arbitrage pricing and hedging of forwards/futures, equity options, bonds, theories of the term structure, factors affecting option prices, arbitrage relations of calls and puts, trading strategies involving options, binomial model for stock prices, option pricing by replication under the binomial model.
Discrete-time market models, option pricing and replication, risk-neutral valuation and martingale measures, and the fundamental theorem of asset pricing. Discrete-time Black-Scholes. Value-at-risk, mean-variance portfolio analysis, capital asset pricing model. Discrete-time interest rate models. Duration, convexity and immunization. Simulation.
An introduction to modern financial mathematics using a differential equations approach. Stochastic differential equations and their related partial differential equations. The Fokker-Planck and Kolmogorov PDEs. No-arbitrage pricing, the Black-Scholes equation and its solutions. American options. Exotic options.
An introduction to linear programming, simplex method, duality theory and sensitivity analysis, formulating linear programming models, nonlinear optimization, unconstrained and constrained optimization, quadratic programming. Applications in financial modelling (investment portfolio selection).
The student will work on a project under faculty supervision. The project may involve an extension, or more detailed coverage, of material presented in other courses. Credit for the course will involve a written report as well as an oral presentation.
Prerequisite(s): Registration in the fourth year of the Honors Specialization in Actuarial Science, Statistics, or Financial Modelling. Students must have a modular course average of at least 80% and must find a faculty member to supervise the project.