WClasses
ACTSC 446 - Mathematics of Financial Markets
This course covers mathematical techniques for no-arbitrage pricing and hedging financial derivatives. Topics to be covered can be classified into three broad areas: derivatives markets (options; forwards and futures; other derivatives; put-call parity), discrete-time financial models (binomial models; general multi-period models; Fundamental Theorems of Asset Pricing; risk-neutral probability), and continuous-time financial models (basic stochastic calculus and Itô's lemma; Black-Scholes model; interest rate models and bond pricing).
Prerequisites
(ACTSC372 or BUS393W), (STAT333 or STAT334); Actuarial Science, Math/FARM, Math Fin, STAT students only.
Corequisites
None
Antirequisites
AFM322, BUS423W, ECON372, MATBUS470
Offerings
Winter 2026 [1261]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5757 | 90 / 120 | 13:00 - 14:20 | T,Th |
Fall 2025 [1259]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 6400 | 27 / 90 | 14:30 - 15:50 | M,W | ||
| LEC 001 | 6400 | 27 / 90 | 14:30 - 15:50 | M,W | ||
| TUT 101 | 7035 | 27 / 90 | 10:30 - 11:20 | F | ||
| TUT 101 | 7035 | 27 / 90 | 10:30 - 11:20 | F |
Spring 2025 [1255]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 4836 | 33 / 110 | 08:30 - 09:50 | T,Th | ||
| TUT 101 | 4838 | 33 / 110 | 14:30 - 15:20 | W |
Winter 2025 [1251]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5838 | 80 / 145 | 14:30 - 15:50 | T,Th | ||
| TUT 101 | 6565 | 80 / 145 | 13:30 - 14:20 | F |
Winter 2024 [1241]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5859 | 119 / 150 | 14:30 - 15:50 | M,W | ||
| TUT 101 | 6679 | 119 / 150 | 10:30 - 11:20 | F |
Fall 2023 [1239]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 6258 | 39 / 56 | 08:30 - 09:50 | T,Th | ||
| TUT 101 | 8867 | 39 / 56 | 12:30 - 13:20 | F |
Winter 2023 [1231]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5986 | 60 / 80 | 16:00 - 17:20 | M,W | RCH 110 | Mikko Pakkanen |
| LEC 002 | 7969 | 34 / 80 | 14:30 - 15:50 | M,W | RCH 305 | Mario Ghossoub |
| TUT 101 | 8728 | 60 / 80 | 13:30 - 14:20 | M | MC 2054 | Mikko Pakkanen |
| TUT 102 | 8756 | 34 / 80 | 12:30 - 13:20 | M | MC 1056 | Mario Ghossoub |
Fall 2022 [1229]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 7363 | 67 / 150 | 10:00 - 11:20 | M,W | B1 271 | Bin Li |
Winter 2022 [1221]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5850 | 90 / 150 | 16:00 - 17:20 | T,Th | MC 2066 | Ruodu Wang |
Fall 2021 [1219]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 6369 | 118 / 150 | Christiane Lemieux |
Winter 2021 [1211]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 041 | 5901 | 133 / 150 | Ruodu Wang |
Fall 2020 [1209]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 041 | 6265 | 144 / 150 | Bin Li |
Spring 2020 [1205]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 4983 | 117 / 130 | Mario Ghossoub |
Winter 2020 [1201]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5746 | 62 / 80 | 13:00 - 14:20 | M,W | E2 1736 | Mario Ghossoub |
| LEC 002 | 6363 | 48 / 80 | 14:30 - 15:50 | M,W | E2 1736 | Mario Ghossoub |
| LEC 003 | 9653 | 1 / 1 | ||||
| TUT 101 | 5874 | 110 / 160 | 12:30 - 13:20 | F | DC 1350 | Mario Ghossoub |
Fall 2019 [1199]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 6087 | 64 / 125 | 14:30 - 15:50 | T,Th | MC 2066 | Alexander Schied |
| LEC 002 | 9913 | 1 / 1 | ||||
| TUT 101 | 8914 | 64 / 125 | 16:30 - 17:20 | T | STC 0060 | Alexander Schied |
Winter 2019 [1191]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5621 | 47 / 80 | 10:00 - 11:20 | T,Th | AL 208 | Ruodu Wang |
| LEC 002 | 6301 | 81 / 95 | 14:30 - 15:50 | T,Th | MC 2054 | Ruodu Wang |
| LEC 003 | 9381 | 3 / 1 | ||||
| TUT 101 | 5750 | 128 / 175 | 17:30 - 18:20 | T | MC 2066 | Ruodu Wang |
Fall 2018 [1189]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5935 | 58 / 125 | 10:00 - 11:20 | M,W | STC 0040 | Mario Ghossoub |
| LEC 002 | 9670 | 1 / 1 |
Spring 2018 [1185]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 4950 | 66 / 80 | 08:30 - 09:50 | T,Th | MC 2038 | Chengguo Weng |
| TUT 101 | 4951 | 66 / 80 | 13:30 - 14:20 | M | MC 2038 | Chengguo Weng |
Winter 2018 [1181]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5673 | 72 / 95 | 10:00 - 11:20 | T,Th | RCH 307 | Ruodu Wang |
| LEC 002 | 7911 | 43 / 95 | 11:30 - 12:50 | M,W | RCH 307 | Mario Ghossoub |
| LEC 003 | 9586 | 2 / 1 | ||||
| TUT 101 | 5806 | 115 / 190 | 13:30 - 14:20 | F | DC 1351 | Ruodu Wang |
Fall 2017 [1179]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 6042 | 80 / 120 | 08:30 - 09:50 | T,Th | STC 0010 | Chengguo Weng |
| TUT 101 | 6043 | 80 / 120 | 13:30 - 14:20 | W | MC 4059 | Chengguo Weng |
Winter 2017 [1171]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5404 | 136 / 175 | 16:00 - 17:20 | T,Th | MC 2065 | Alexander Schied |
| LEC 002 | 9984 | 2 / 1 | ||||
| TUT 101 | 5538 | 136 / 175 | 15:30 - 16:20 | W | MC 2065 | Alexander Schied |
Fall 2016 [1169]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 6028 | 104 / 108 | 11:30 - 12:50 | M,W | STC 0060 | Chengguo Weng |
| LEC 002 | 9292 | 1 / 1 | ||||
| TUT 101 | 6029 | 104 / 108 | 16:30 - 17:20 | T | MC 4059 | Chengguo Weng |
Winter 2016 [1161]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5943 | 96 / 100 | 13:00 - 14:20 | T,Th | DWE 1501 | Chengguo Weng |
| LEC 002 | 8385 | 34 / 80 | 08:30 - 09:50 | M,W | RCH 112 | Shengchao Zhuang |
| TUT 101 | 6079 | 130 / 180 | 16:30 - 17:20 | T | B1 271 | Chengguo Weng |
Fall 2015 [1159]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 6301 | 75 / 105 | 08:30 - 09:50 | T,Th | MC 4021 | Christiane Lemieux |
| LEC 002 | 8994 | 1 / 1 | ||||
| TUT 101 | 6302 | 75 / 105 | 14:30 - 15:20 | M | MC 2066 | Christiane Lemieux |
Winter 2015 [1151]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5731 | 162 / 205 | 08:30 - 09:50 | M,W | DC 1350 | Bin Li |
| TUT 101 | 5867 | 162 / 205 | 08:30 - 09:20 | F | DC 1350 | Bin Li |
Fall 2014 [1149]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5972 | 112 / 120 | 13:30 - 14:50 | T,Th | RCH 301 | Ruodu Wang |
| LEC 002 | 8744 | 4 / 0 | ||||
| TUT 101 | 5973 | 112 / 120 | 09:30 - 10:20 | F | MC 1085 | Ruodu Wang |
Winter 2014 [1141]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5542 | 182 / 205 | 08:30 - 09:50 | T,Th | DC 1350 | Javid Ali |
| LEC 002 | 8603 | 2 / 1 | ||||
| TUT 101 | 5681 | 182 / 205 | 16:30 - 17:20 | M | M3 1006 | Javid Ali |
Fall 2013 [1139]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5629 | 98 / 120 | 11:30 - 12:50 | T,Th | DC 1350 | Bin Li |
| LEC 002 | 8193 | 3 / 1 | ||||
| LEC 003 | 8274 | 1 / 1 | ||||
| TUT 101 | 5630 | 98 / 120 | 13:30 - 14:20 | F | M3 1006 | Bin Li |
Winter 2013 [1131]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5298 | 171 / 190 | 14:30 - 15:50 | T,Th | AL 113 | Ruodu Wang |
| LEC 002 | 8295 | 1 / 1 | ||||
| LEC 003 | 8305 | 1 / 1 | ||||
| LEC 004 | 8393 | 1 / 1 | ||||
| TUT 101 | 5439 | 171 / 190 | 16:00 - 16:50 | T | AL 113 |
Fall 2012 [1129]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5574 | 115 / 115 | 11:30 - 12:50 | T,Th | MC 1085 | Chengguo Weng |
| LEC 002 | 8472 | 3 / 1 | ||||
| TUT 101 | 5575 | 115 / 115 | 15:30 - 16:20 | W | DC 1351 | Chengguo Weng |
Winter 2012 [1121]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5076 | 165 / 150 | 14:30 - 15:50 | T,Th | DC 1350 | Adam A Kolkiewicz |
| LEC 002 | 8200 | 5 / 1 | ||||
| TUT 101 | 5227 | 165 / 150 | 16:00 - 16:50 | T | DC 1351 | Adam A Kolkiewicz |
Fall 2011 [1119]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5421 | 96 / 100 | 11:30 - 12:50 | T,Th | MC 2066 | Christiane Lemieux |
| LEC 002 | 8316 | 2 / 1 | ||||
| TUT 101 | 5422 | 96 / 100 | 15:30 - 16:20 | W | MC 2065 |
Spring 2011 [1115]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 4930 | 1 / 1 |
Winter 2011 [1111]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5030 | 88 / 130 | 14:30 - 15:50 | T,Th | MC 2066 | Xiaorong Zou |
| LEC 002 | 5534 | 89 / 100 | 11:30 - 12:50 | T,Th | MC 4059 | Robert Keith Freeland |
| LEC 003 | 8127 | 1 / 1 | ||||
| LEC 004 | 8136 | 2 / 1 | ||||
| LEC 005 | 8149 | 0 / 1 | ||||
| TUT 101 | 5196 | 88 / 130 | 16:00 - 16:50 | T | MC 2066 | |
| TUT 102 | 5535 | 89 / 100 | 16:00 - 16:50 | T | MC 4059 |
Fall 2010 [1109]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5485 | 95 / 97 | 13:30 - 14:20 | M,W,F | MC 1085 | Christiane Lemieux |
| LEC 002 | 5711 | 77 / 85 | 10:30 - 11:20 | M,W,F | MC 4045 | Robert Keith Freeland |
| LEC 003 | 8047 | 4 / 1 | ||||
| TUT 101 | 5486 | 95 / 97 | 15:30 - 16:20 | F | MC 1085 | |
| TUT 102 | 7221 | 77 / 85 | 15:30 - 16:20 | F | MC 4045 |
Winter 2010 [1101]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 4980 | 110 / 110 | 11:30 - 12:50 | T,Th | MC 1085 | Jean-Francois Renaud |
| LEC 002 | 6984 | 75 / 75 | 11:30 - 12:50 | T,Th | MC 2017 | Xiaorong Zou |
| TUT 101 | 5177 | 110 / 110 | 16:00 - 16:50 | T | MC 1085 | |
| TUT 102 | 6985 | 75 / 75 | 16:00 - 16:50 | T | MC 2054 |
Fall 2009 [1099]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 5246 | 99 / 90 | 13:30 - 14:20 | M,W,F | MC 1085 | Adam A Kolkiewicz |
| LEC 002 | 7451 | 53 / 64 | 13:30 - 14:20 | M,W,F | MC 4042 | Xiaorong Zou |
| TUT 101 | 5247 | 152 / 154 | 15:30 - 16:20 | F | AL 113 |
Spring 2009 [1095]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 4684 | 0 / 1 |
Winter 2009 [1091]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 4189 | 74 / 74 | 14:30 - 15:20 | M,W,F | MC 4059 | Jean-Francois Renaud |
| LEC 002 | 4646 | 88 / 82 | 11:30 - 12:50 | T,Th | MC 4045 | Carole Bernard |
| LEC 003 | 8281 | 1 / 1 | ||||
| TUT 101 | 4412 | 74 / 74 | 16:30 - 17:20 | W | MC 4045 | |
| TUT 102 | 4571 | 88 / 82 | 15:30 - 16:20 | W | MC 4021 |
Fall 2008 [1089]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3634 | 67 / 70 | 13:30 - 14:20 | M,W,F | RCH 103 | Jean-Francois Renaud |
| LEC 002 | 4205 | 47 / 60 | 09:30 - 10:20 | M,W,F | MC 4021 | Jean-Francois Renaud |
| TUT 101 | 3815 | 67 / 70 | 16:30 - 17:20 | F | MC 4021 | |
| TUT 102 | 4206 | 47 / 60 | 15:30 - 16:20 | F | MC 4021 |
Winter 2008 [1081]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3352 | 47 / 46 | 11:30 - 12:20 | M,W,F | MC 4042 | Carole Bernard |
| LEC 002 | 3801 | 57 / 57 | 14:30 - 15:20 | M,W,F | MC 4060 | Carole Bernard |
| LEC 003 | 4956 | 51 / 52 | 11:30 - 12:50 | T,Th | MC 2035 | Carole Bernard |
| TUT 101 | 3579 | 47 / 46 | 16:30 - 17:20 | W | MC 4042 | Carole Bernard |
| TUT 102 | 3802 | 57 / 57 | 15:30 - 16:20 | W | MC 2038 | Carole Bernard |
| TUT 103 | 4957 | 51 / 52 | 16:00 - 16:50 | Th | MC 4040 | Carole Bernard |
Fall 2007 [1079]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3336 | 66 / 61 | 13:30 - 14:20 | M,W,F | MC 4045 | Christiane Lemieux |
| LEC 002 | 5324 | 48 / 45 | 09:30 - 10:20 | M,W,F | RCH 309 | Christiane Lemieux |
| LEC 003 | 5326 | 43 / 40 | 13:00 - 14:20 | T,Th | MC 4058 | Carole Bernard |
| TUT 101 | 3532 | 66 / 61 | 16:30 - 17:20 | F | PHY 313 | Christiane Lemieux |
| TUT 102 | 5325 | 48 / 45 | 15:30 - 16:20 | F | MC 4042 | Christiane Lemieux |
| TUT 103 | 5327 | 43 / 40 | 15:30 - 16:20 | F | MC 2035 | Carole Bernard |
Winter 2007 [1071]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3286 | 82 / 78 | 11:30 - 12:20 | M,W,F | MC 4045 | David Landriault |
| LEC 002 | 5040 | 74 / 66 | 14:30 - 15:20 | M,W,F | MC 4045 | David Landriault |
| TUT 101 | 3533 | 82 / 78 | 16:30 - 17:20 | W | RCH 307 | David Landriault |
| TUT 102 | 5041 | 74 / 66 | 15:30 - 16:20 | W | MC 4045 | David Landriault |
Fall 2006 [1069]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3212 | 87 / 85 | 13:00 - 14:20 | T,Th | RCH 302 | Adam A Kolkiewicz |
| TUT 101 | 3424 | 87 / 85 | 15:30 - 16:20 | F | RCH 103 | Adam A Kolkiewicz |
Winter 2006 [1061]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3158 | 108 / 105 | 11:30 - 12:20 | M,W,F,R,C,H | Weidong Tian | |
| TUT 101 | 3436 | 108 / 105 | 16:30 - 17:20 | W,M,C | Weidong Tian |
Fall 2005 [1059]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3112 | 79 / 85 | 13:00 - 14:20 | T,Th,D,W,E | Weidong Tian | |
| TUT 101 | 3367 | 79 / 85 | 16:30 - 17:20 | W,D,W,E | Weidong Tian |
Winter 2005 [1051]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3099 | 59 / 60 | 11:30 - 12:20 | M,W,F,M,C | Ken S Tan | |
| TUT 101 | 3398 | 59 / 60 | 16:30 - 17:20 | W,M,C | Ken S Tan |
Fall 2004 [1049]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3092 | 72 / 70 | 13:00 - 14:20 | T,Th,D,W,E | Weidong Tian | |
| TUT 101 | 3364 | 72 / 70 | 16:30 - 17:20 | W,D,W,E | Weidong Tian |
Winter 2004 [1041]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 2948 | 63 / 60 | 11:30 - 12:20 | M,W,F,M,C | Weidong Tian | |
| TUT 101 | 3267 | 63 / 60 | 16:30 - 17:20 | W,M,C | Weidong Tian |
Fall 2003 [1039]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 2999 | 54 / 55 | 13:00 - 14:20 | T,Th,O,P,T | Adam A Kolkiewicz | |
| TUT 101 | 3289 | 54 / 55 | 16:30 - 17:20 | W,M,C | Adam A Kolkiewicz |
Winter 2003 [1031]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 3538 | 44 / 60 | 08:30 - 09:20 | M,W,F,M,C | Adam A Kolkiewicz | |
| TUT 101 | 4600 | 44 / 60 | 16:30 - 17:20 | M,M,C | Adam A Kolkiewicz |
Fall 2002 [1029]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 2855 | 44 / 60 | 09:30 - 10:20 | M,W,F,M,C | Adam A Kolkiewicz | |
| TUT 101 | 3173 | 44 / 60 | 11:30 - 12:20 | M,M,C | Adam A Kolkiewicz |
Winter 2002 [1021]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 1096 | 24 / 40 | 08:30 - 09:20 | M,W,F,M,C | Rogemar Mamon |
Fall 2001 [1019]
| Section | Class | Enrolled | Time | Days | Location | Instructor |
|---|---|---|---|---|---|---|
| LEC 001 | 1513 | 23 / 30 | 09:30 - 10:20 | M,W,F,E | Rogemar Mamon | |
| TUT 101 | 3566 | 23 / 30 | 11:30 - 12:20 | M,M,C | Rogemar Mamon |