Friday, June 09, 2006

The Summer Reading Process


You might ask what an actuary/Ph. D. student reads over the summer. I'll give you a look at my summer reading.

Linear Algebra Made Easy, by Sheldon Axler. It's my primary book of the summer, and I'm sawing my way through the propositions and proofs. I don't intend to complete the book, just the "important parts" outlined by Dr. S.

Optimization by Vector Space Methods, by David Luenberger. A master text in the field in solving problems in economics. Very difficult, I'll be ecstatic if I can get through a few chapters.

Recursive Macroeconomic Theory, by Lars Ljungqvist, 2nd ed., 2004. (red cover) Supposely a major book in the field. I'll have to buy it and therefore, it can wait -- Dr. S says this book is too frequently checked out to easily find.

Economic Literacy: What Everyone Needs to Know about Money and Markets, by Jacob De Rooy. About ten years out of date, but a great simple explanation of economic terms (my econ skills are just about nonexistent).

The Undercover Economist, by Tim Harford. FINISHED. A book about real world examples of economic reasoning.

Against the Odds: The Remarkable Story of Risk, by Peter L. Bernstein. Basically, the history of probability and risk management, from the ancient Greeks to Black-Schoeles.

Short Changed, by Howard Karger. The world of "alternative financial services": pawnshops, check cashers, and rent-to-own stores, and how their usurious practices prey on the vulnerable.

A comment from the Good Frank S. asked how I'm doing with the Axler book. Fairly well. My questions are answered. I didn't do the question that asks:

"For U, V, W subspaces, is dim (U + V + W) = dim U + dim V + dim W - (dim U intersect V) - (dim U intersect W) - (dim V intersect W) + dim (U intersect V intersect W)?"
I suspect the proof is just like the simpler case, but more laborious.

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