Date Added: Aug 2009
The recent crisis has shown that financial risk management not only lies at the core of the economy, but at the heart of the modern society. Increasingly strong links between international markets and various sectors in the economy make the quantification and monitoring of financial risks essential for the health of the financial system and thus for the functioning of the entire society. Financial risk affects all the things which are most precious to all of us: our health care system, our retirement date and income, the overall quality of education and even the performance of our favorite football club. As a consequence, measuring, monitoring and managing risk have become increasingly important and the field of finance is the axis in many decision making processes.