This is an introductory, undergraduate course in stochastic processes. Its purpose is to introduce students to a range of stochastic processes which are used as modeling tools in diverse fields of applications, especially in risk management applications for finance and insurance. The course covers basic classes of stochastic processes: Markov chains and martingales in discrete time; Brownian motion; and Poisson process. It also presents some aspects of stochastic calculus.
[(MATH 332 with min. grade of D and MATH 475 with min. grade of D) OR (MATH 333 with min. grade of D and MATH 475 with min. grade of D)]