Financial Modeling. In finance, the most important activity is identifying, measuring, and managing risks. Risks are the adverse outcomes that might happen in the future; however, we can not know whether they actually will. Our inability to know the future makes it very difficult to deal with risk. Therefore, we must use theoretical, logical, and quantitative methods, to approximately identify and measure risks. And then, we must use these same methods to devise ways of controlling and managing the risks we have identified. Using theories, logic, and science to identify, measure, and manage risks is the purpose and the essence of financial modeling. This course introduces to financial modeling. The context of this study is the common risk-management tools (e.g. the Black-Scholes option pricing model, binomial model). And the modeling tool of choice for this study is the Python language, which is literally taking over the industry of quantitative financial modelling.

PhD Assoc. Prof. Robert Savickas is one of the most prominent scientists of Lithuanian origin, in the field of finance and investment. R. Savickas teaches Operational Risk Modeling, Financial Modeling, Investment Portfolio Management, Financial Management, etc. R. Savickas has been developing his academic career since 1990 and carries out his academic activity in the leading universities of United States of America since 1995. Since 2006 he has been working at the George Washington University, which is ranked 352 among the World's universities (according to QS Ranking), 56 among the U.S. Universities, and 201-250 among the World‘s universities (according to World University Rankings).
R. Savickas conducts the financial research in the market of US, which is one of the main leaders in the terms of scientific theory, scientific achievements and practical experience. He is an active scientist and researcher who published more than 30 scientific articles that are appreciated and quoted by other scholars. He is the reviewer for more than fifteen top-level scientific journals, and is a member of the American Financial Association, the Association of Financial Managers, the Financial Studies Community and other organizations.
R. Savickas is the Head of Finance department at the George Washington University.


Paskaitų tvarkaraštis:
 

Diena	Paskaitos tema	Paskaitos tipas	Val.	Data ir laikas	Aud.
1	The nature of risk. The essence of risk modeling. The necessity of theoretical, quantitative, and computing methods. A simple example: the Black-Scholes option model. The basics of Python, with applications to the binomial tree for the Black-Scholes model.	pratybos	2	2018.04.25 10:20-11:55	SRA-II 08
	More advanced Python concepts in the context of the binomial tree of the Black-Scholes model.	paskaita	2	2018.04.25 12:10-13:45	SRA-II 08
2	More advanced Python concepts continued. Introduction to Python packages and object-oriented methods, with applications.	pratybos	2	2018.04.26 8:30-10:05	SRK-I 702
	Object-oriented programming applied to the binomial tree.	paskaita	2	2018.04.26 10:20-11:55	SRK-I 702
	The construction of the binomial tree continued.	paskaita	2	2018.04.26 12:10-13:45	SRK-I 702
3	Completing the binomial tree for the Black-Scholes model. Extensions to American, Bermudan, Asian options.	paskaita	2	2018.04.27 14:30-16:05	SRK-I 623
	Modeling exotic options continued.	pratybos	2	2018.04.27 16:20-17:55	SRK-I 623
4	The nature of risk. The essence of risk modeling. The necessity of theoretical, quantitative, and computing methods. The simplest example: the binomial option model. The basics of Python, with applications to the binomial model.	pratybos	2	2018.04.30 12:10-13:45	SRK-I 704
	More advanced Python concepts in the context of the binomial model.	paskaitos	2	2018.04.30 14:30-16:05	SRK-I 704
5	More advanced Python concepts continued. Introduction to Python packages and object-oriented methods, with applications.	paskaita	2	2018.05.02 10:20-11:55	SRK-I 211
	Completing the binomial model using object-oriented methods in Python.	pratybos	2	2018.05.02 12:10-13:45	SRK-I 211
6	The nature of risk. The essence of risk modeling. The necessity of theoretical, quantitative, and computing methods. The simplest example: the binomial option model. The basics of Python, with applications to the binomial model.	pratybos	2	2018.05.03 8:30-10:05	SRK-I 623
	More advanced Python concepts in the context of the binomial model.	paskaita	2	2018.05.03 10:20-11:55	SRK-I 623
7	More advanced Python concepts continued. Introduction to Python packages and object-oriented methods, with applications.	paskaita	2	2018.05.04 10:20-11:55	SRK-I 623
	Completing the binomial model using object-oriented methods in Python.	pratybos	2	2018.05.04 12:10-13:45	SRK-I 623
8	Extensions of the binomial model to American, Bermudan, and Asian options.	pratybos	2	2018.05.07 12:20-13:45	SRK-I 704
	Closer look at classes of objects in Python.	pratybos	2	2018.05.07 14:30-16:05	SRK-I 704
9	Classifying the objects in the binomial model.	paskaitos	2	2018.05.08 12:10-13:45	SRK-I 704
10	Extension of the binomial model to form a multi-period tree.	paskaitos	2	2018.05.09 10:20-11:55	SRK-I 211
	Completing the multi-period tree model for valuing the cash flows of financial instruments.	pratybos	2	2018.05.09 12:10-13:45	SRK-I 211