PH232 Half Unit
Physics and the City: From Quantum Jumps to Stock Market Crashes
This information is for the 2018/19 session.
Dr Balazs Gyenis
This course is available on the BSc in Philosophy and Economics, BSc in Philosophy, Logic and Scientific Method, BSc in Philosophy, Politics and Economics and BSc in Politics and Philosophy. This course is available as an outside option to students on other programmes where regulations permit and to General Course students.
There are no prerequisites for this course; it is accessible to students of all backgrounds.
One of the most surprising discoveries of the 20th century is that many things can be described by tiny atoms moving randomly about. Thinking about the physical world in this way led to the invention of modern particle physics. Thinking about the financial world in this way led to modern financial modeling. This course is about some of the philosophical issues underlying the relationship between physics and finance.
Students in this course will explore some of the most important conceptual and philosophical questions underlying physics and finance, like: How are assumptions about randomness compatible with observed forms of determinism? What does it mean to be an atom? How does the quantum world differ from the everyday world? What explains why physical models have unexpected applications in finance? To what extent do such applications help to underpin how the prices of financial instruments are set?
The course will proceed at a conceptual level that is suitable for students of all backgrounds.
10 hours of lectures and 10 hours of classes in the LT.
Students will be expected to produce 1 essay in the LT.
Students are also required to prepare to discuss a few short questions in each weekly class meeting.
Weekly essential readings will be provided on Moodle, selected individually from various book chapters and journal articles. Some indicative readings include:
- MacKenzie, Donald. An Engine Not a Camera, excerpts.
- Malkin, Burton G. A random walk down Wallstreet, excerpts.
- Norton, John D. Einstein for Everyone, Chapters 34-37 on Brownian motion and the origins of quantum theory.
- Weatherall, James O. The Physics of Wallstreet (optional further reading)
Essay (50%, 1500 words) in the MT Week 11.
Essay (50%, 1500 words) in the ST.
Student performance results
(2015/16 - 2017/18 combined)
|Classification||% of students|
Department: Philosophy, Logic and Scientific Method
Total students 2017/18: 32
Average class size 2017/18: 11
Capped 2017/18: No
Value: Half Unit
- Problem solving
- Application of information skills
- Application of numeracy skills
- Specialist skills