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Financial Modeling

Financial Modeling, fifth edition

by Simon Benninga and Tal Mofkadi

$125.00 Hardcover
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1048 pp., 7 x 9 in, 925 figures

Hardcover
9780262046428
Published: February 1, 2022
Publisher: The MIT Press

$125.00

eBook
9780262368247
Published: February 1, 2022
Publisher: The MIT Press

$124.99

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A substantially updated new edition of the essential text on financial modeling, with revised material, new data, and implementations shown in Excel, R, and Python.

Financial Modeling has become the gold-standard text in its field, an essential guide for students, researchers, and practitioners that provides the computational tools needed for modeling finance fundamentals. This fifth edition has been substantially updated but maintains the straightforward, hands-on approach, with an optimal mix of explanation and implementation, that made the previous editions so popular. Using detailed Excel spreadsheets, it explains basic and advanced models in the areas of corporate finance, portfolio management, options, and bonds. This new edition offers revised material on valuation, second-order and third-order Greeks for options, value at risk (VaR), Monte Carlo methods, and implementation in R. The examples and implementation use up-to-date and relevant data.

Parts I to V cover corporate finance topics, bond and yield curve models, portfolio theory, options and derivatives, and Monte Carlo methods and their implementation in finance. Parts VI and VII treat technical topics, with part VI covering Excel and R issues and part VII (now on the book's auxiliary website) covering Excel's programming language, Visual Basic for Applications (VBA), and Python implementations. Knowledge of technical chapters on VBA and R is not necessary for understanding the material in the first five parts. The book is suitable for use in advanced finance classes that emphasize the need to combine modeling skills with a deeper knowledge of the underlying financial models.

The late Simon Benninga was Professor of Finance and Director of the Sofaer International MBA program at the Faculty of Management at Tel-Aviv University. For many years he was a Visiting Professor at the Wharton School of the University of Pennsylvania.

Tal Mofkadi is an Assistant Professor in the School of Finance in the Faculty of Management at Tel Aviv University, University of Amsterdam, and Nagoya University of Business and Commerce, and the managing partner of Numerics, an economic and financial consultancy firm.

“Financial Modeling demonstrates how Excel and other computational tools facilitate complex problem-solving. The fifth edition clarifies the exposition of some earlier material and adds R and Python to the toolkit. It's a must-have for finance students, scholars, and modeling professionals.”
Robert A. Taggart, Professor Emeritus, Finance, Carroll School of Management, Boston College

“Financial Modeling is the most comprehensive Excel textbook for finance applications. I have consistently used previous editions of this book in my modeling courses over the last 15 years. The detailed coverage of VBA and R in this edition is ideal for finance students at any level.”
Patrick Cusatis, Associate Professor of Finance, Penn State University

“An excellent resource on modeling for corporate finance, bonds, portfolio theory, options, and Monte Carlo simulation methods. Financial Modeling is valuable for instructors and students at both undergraduate and graduate levels, and I highly recommend it.”
Cara Marshall, Lecturer and Director of the Risk Management Graduate Program, Queens College, CUNY

Supplemental Excel, R, and Python files

Part VII: Visual Basic for Applications

Table of Contents

Transition Guide