Nizar TouziAfter a Grande Ecole program at ENSAE, I prepared a PhD in applied mathematics at CREST, and then did post-doctorate training at the University of Chicago. I started my academic career at Paris Dauphine University in 1994 as a lecturer. In 1999, I obtained my first position as Professor at Paris I University, Panthéon-Sorbonne, and then CREST. After a chair position in mathematical finance at Imperial College London, I finally joined Ecole Polytechnique in September 2006.
I teach the theory of arbitrage, which implements the mathematical tools required for pricing and hedging any derivatives. It’s a technical course in which we look at stochastic processes, Ito’s formula, Girsanov’s theorem, etc., and which therefore requires good grounding in mathematics, but it is also a highly practical course because it provides the link between these techniques and the reality of market finance professions.
Finance is an extremely wide-ranging field which demands skills at the interface between several domains: economics, management, and applied mathematics. It therefore requires a minimum amount of knowledge in each of these three fields. Students should think carefully about their positioning within the field of finance according to their previous schooling and their professional objectives. Some professions in finance require huge technical abilities in mathematics, while others demand solid knowledge of accountancy and financial analysis, etc. Finally, do not limit your learning to the courses given in the Specialized Master; and dedicate the most of your free time to further your knowledge using your own means.