cial markets to the completeness, effective rate and financial market general equilibrium research financial markets, and the whole market system in the position and functions of research and so on. The four levels from the micro to macro summarized the research scope of the financial engineering.
summary
Worth explanation is, financial engineering in the practical application, and even exceed the financial and financial field. Some industrial enterprise has the financial engineering technical method used in enterprise management, marketing, commodity pricing, patent value estimation, the employee welfare policy formulation, the commercial contract negotiation, etc, has obtained the unexpected success. And often is only a simple financial engineering technology can solve was quite complicated problem. In fact, as long as it is referred to by the returns and risk weigh the choices and the problem of the transfer of distribution, financial engineering is useful. That is, the theory and practice of the financial work, can be expanded to the more extensive fields. In addition, in a sense, financial engineers in plays three roles: deal makers (market participants), new concepts creator (creator) and economic law who play outside.
Edit this paragraph brief http://www.51lunwen.org/malasia_area.html
review
From the development of the history of science research, each a real may call it science subject (mainly refers to the original natural science, now has extended to social science disciplines), the growing process goes through three stages: the first stage is descriptive, the second stage is analytical, and the last stage is the engineering. Such as modern biological project and the rise of genetic engineering, marking the biology and genetics engineering. In fact, a scientific discipline only in engineering, to large-scale created that economic and social benefits. Financial science as the science, descriptive analysis and experience stage of after the stage, in the late 1980 s to the development of the engineering stage-the financial engineering. That is, financial engineering is the scientific development of financial third stage-engineering phase. Financial engineering of the financial science push to produce a new level-new and high science and technology of modern financial field.
Descriptive stage
In the early 1950 s, in the 1950 s before before, finance research are mostly depend on experience rather than theory analysis, orthodox discussion, not the number of delicate analysis.
Analytical stage
In the 1950 s to the early 70 s general speaking, the modern financial theory began in the 1950 s Harry MaKeWei watts (Harry Markowitz, 1952195 6195 9) proposed portfolio theory, which not only shaped the modern securities portfolio theory foundation, and is also as analysis of finance start. financial
In fact, MaKeWei watts proved investors optimal portfolio-in established variance level in the maximum yields or in income level has a minimum set of variance, will be a mean square error efficient asset combination, and the choice of assets will investors change into a given target function and constraint conditions of linear programming problem. It is the contribution sparked much of modern portfolio theory analysis research. The early 1960 s, have to rand Johnson (Leland Johnson, 1960) and jay Ross springsteen because, (Jerose Stein, 1961) the card to coil combinatorial theory expanded to hedging, thus forming modern hedging theory; By William sharp (William Sharpe, 1961), John Turner (John Lintner, 1965) and Jane said Mr (Jan Mossin, 1966) as a representative of a group of scholars, attention off MaKeWei watts on individual investors microcosmic research to the whole market research, consider all follow MaKeWei watts assumptio
