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Updated in [March 06th, 2023]

This course provides an introduction to financial risk management with R. Participants will learn how to retrieve data from FRED, calculate daily returns, calculate longer returns, and use a simple example to understand the concepts.

[Applications]
After completing this course, participants can apply the knowledge they have gained to analyze financial data using R. They can use the skills they have learned to retrieve data from FRED, calculate daily and longer returns, and create a simple example. Additionally, participants can use the knowledge they have gained to develop more complex financial models and analyze financial risk.

[Career Paths]
1. Financial Risk Analyst: Financial Risk Analysts are responsible for assessing and managing the financial risks associated with investments, loans, and other financial transactions. They use quantitative and qualitative analysis to identify, measure, and manage potential risks. As the financial industry continues to evolve, the demand for Financial Risk Analysts is expected to grow.

2. Quantitative Analyst: Quantitative Analysts use mathematical and statistical models to analyze financial data and make predictions about future market trends. They are responsible for developing and implementing quantitative models to assess risk and optimize investment strategies. With the increasing complexity of the financial markets, the demand for Quantitative Analysts is expected to grow.

3. Data Scientist: Data Scientists use data to develop insights and solutions to complex problems. They use a variety of techniques, such as machine learning, to analyze large datasets and uncover patterns and trends. As the financial industry continues to rely more heavily on data-driven decision making, the demand for Data Scientists is expected to grow.

4. Financial Modeler: Financial Modelers use quantitative models to analyze financial data and make predictions about future market trends. They are responsible for developing and implementing financial models to assess risk and optimize investment strategies. With the increasing complexity of the financial markets, the demand for Financial Modelers is expected to grow.

[Education Paths]
1. Bachelor of Science in Financial Risk Management: This degree program provides students with a comprehensive understanding of financial risk management principles and practices. Students learn how to identify, assess, and manage financial risks in a variety of contexts. They also gain an understanding of the legal and regulatory frameworks that govern financial risk management. This degree program is becoming increasingly popular as organizations become more aware of the importance of managing financial risks.

2. Master of Science in Financial Risk Management: This degree program provides students with an advanced understanding of financial risk management principles and practices. Students learn how to identify, assess, and manage financial risks in a variety of contexts. They also gain an understanding of the legal and regulatory frameworks that govern financial risk management. This degree program is becoming increasingly popular as organizations become more aware of the importance of managing financial risks.

3. Master of Business Administration in Financial Risk Management: This degree program provides students with an in-depth understanding of financial risk management principles and practices. Students learn how to identify, assess, and manage financial risks in a variety of contexts. They also gain an understanding of the legal and regulatory frameworks that govern financial risk management. This degree program is becoming increasingly popular as organizations become more aware of the importance of managing financial risks.

4. Doctor of Philosophy in Financial Risk Management: This degree program provides students with an advanced understanding of financial risk management principles and practices. Students learn how to identify, assess, and manage financial risks in a variety of contexts. They also gain an understanding of the legal and regulatory frameworks that govern financial risk management. This degree program is becoming increasingly popular as organizations become more aware of the importance of managing financial risks.

Course Syllabus

Distribution of Returns

Value-at-Risk (VaR)

Expected Shortfall (ES)

Using Simulation to Estimate VaR and ES