Black-Scholes for scientific computing students

Mathematical finance provides a modern, attractive source of examples and case studies for scientific computing classes. In this installment of Education, I will show how educators can use the Nobel Prize-winning Black-Scholes option valuation theory to motivate exercises in Monte Carlo simulation, matrix computation, and numerical methods for partial differential equations (PDEs)

Black-Scholes option valuation for scientific computing students

Mathematical finance forms a modern, attractive source of examples and case studies for classes in scientific computation. I will show here how the Nobel Prize winning Black-Scholes option valuation theory can be used to motivate exercises in Monte Carlo simulation, matrix computation and numerical methods for partial differential equations

HTC Scientific Computing in a Distributed Cloud Environment

This paper describes the use of a distributed cloud computing system for high-throughput computing (HTC) scientific applications. The distributed cloud computing system is composed of a number of separate Infrastructure-as-a-Service (IaaS) clouds that are utilized in a unified infrastructure. The distributed cloud has been in production-quality operation for two years with approximately 500,000 completed jobs where a typical workload has 500 simultaneous embarrassingly-parallel jobs that run for approximately 12 hours. We review the design and implementation of the system which is based on pre-existing components and a number of custom components. We discuss the operation of the system, and describe our plans for the expansion to more sites and increased computing capacity

Predictions for Scientific Computing Fifty Years from Now

This essay is adapted from a talk given June 17, 1998 at the conference "Numerical Analysis and Computers - 50 Years of Progress" held at the University of Manchester, England in commemoration of the 50th anniversary of the Mark 1 computer