About the Centre

Specific Topics

Financial Mathematics (fast developing new area): pricing and hedging financial derivatives in energy markets and other non standard markets, prediction and estimation of volatility, interest rates models, volatility swaps, exotic option.
Spatial processes: high-resolution three-dimensional numerical models to study tropical convection (an example of a stochastic system), dynamics and stochastic of bushfires, use of particle systems models for spread of fire ants.
Modelling with stochastic differential equations (theoretical research applicable across all disciplines): estimation of coefficients, model identification, long term behaviour of systems.
Simulation of Stochastic Processes (essential for numerical studies of complex systems): computer simulations of diffusions, and other stochastic systems.
Use of chromatograms in medical diagnosis.

to develop the modelling part of the theory of stochastic systems, which is an integral step towards applications to practical problems in industry
to promote cooperation in research and graduate supervision in these areas and other more established areas across different groups in the School and across the two Faculties
to develop an Actuarial program at Monash University.