Uusi opinto-opas (sisältäen myös opetusohjelmat) lukuvuodelle 2018-2019 sijaitsee osoitteessa https://opas.peppi.utu.fi . Tältä sivustolta löytyvät enää vanhat opinto-oppaat ja opetusohjelmat.

The new study guide (incl. teaching schedules) for academic year 2018-2019 can be found at https://studyguide.utu.fi. This site contains only previous years' guides.

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Archived Curricula Guide 2013–2014
Curricula Guide is archieved. Please refer to current Curricula Guides
TFYS7001 Econophysics 5 ECTS
Organised by
Theoretical Physics
Person in charge
Jyrki Piilo
Preceding studies
Basic knowledge of probability theory.

Learning outcomes

To understand: 1) why price dynamics in financial markets can be described as a stochastic process, 2) the most important stochastic models of price dynamics, 3) various types of correlations in financial markets, 4) basics of derivative instruments.


Econophysics is a relatively new interdisciplinary research field where the methods of statistical and theoretical physics are used to study the dynamics of financial markets. This includes, e.g., the modeling of stock price dynamics with stochastic processes and the study of various types of correlations in financial time series. The description of the market dynamics by econophysics can be used in financial risk management and also contributes towards the fundamental understanding of the phenomenon which appear in financial markets. The course includes: probability theory and stochastic processes, characterization of financial data, modeling of financial data, correlations between stocks and portfolio taxonomy, options.

Teaching methods

Teaching method Contact Online
Lectures 22 h 0 h
Exercises 12 h 0 h

Modes of study

Option 1
Available for:
  • Degree Programme Students
  • Other Students
  • Doctoral Students
  • Exchange Students
Written exam
  • In English
Written exam


Numeric 0-5.

Recommended year of study

4. year autumn
5. year autumn

Study materials

Lecture material and the appropriate sections from the following literature: H. E. Stanley and R. N. Mantegna, ”An Introduction to Econophysics: Correlations and Complexity in Finance” (Cambridge University Press, 2000). J.-P. Bouchaud and M. Potters, ”The Theory of Financial Risk and Derivative Pricing: From Statistical Physics to Risk Management”, 2nd. ed. (Cambridge University Press, 2006).

Further information

Not offered in 2013-2014.

Belongs to following study modules

Department of Physics and Astronomy
Archived Teaching Schedule. Please refer to current Teaching Shedule.
Implementation details are unavailable.
Department of Physics and Astronomy
DP in Physical Sciences
Finnish Study Modules