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June 16, 2013

Subject: MATH194_SP13_Bowers: Grades Posted to Ted
Date: June 16, 2013 10:14:58 PM PDT

Dear Class,
Your final exam grades, course grades, and letter grades have all been posted to Ted.  The solutions to 
both the midterm exam and the final exam have also been posted to Ted, under "Content".  Thank you all 
for a great quarter!
Doc Bowers

June 5, 2013

Subject: MATH194_SP13_Bowers: Homework 8 Solutions Updated
Date: June 5, 2013 6:31:32 PM PDT

Dear Class,
Oops! It seems that when I was copying the solution to Problem 1 from my notes, I accidentally left out 
a bit in the middle. I have now updated the solution and it can be found under "Content" in Ted.

June 4, 2013

Subject: MATH194_SP13_Bowers: Final Week Announcements
Date: June 4, 2013 8:37:59 AM PDT

Dear class,
Solutions to all homework assignments (including #8 and #9) have been posted to "Content" in Ted.
Our Final Exam will be: 12 Jun 2013 (Wed) 11:30a - 2:30p (in CSB 001 — our usual lecture hall). We will 
be checking IDs during the exam, so be sure to bring your photo ID. For more information see our class 
syllabus here:
As a reminder, my office hours for today are 12:00-2:00 pm.  My office hours for this week and next 
week can be found here:
Doc Bowers

June 3, 2013

Subject: MATH194_SP13_Bowers: CAPE Over 70%
Date: June 3, 2013 9:42:47 AM PDT

Dear class,

Huzzah! The CAPE response rate has surpasses 70%! This means that everyone will get full credit on 
Homework 8. (In other words, you do not have to turn it in. You still need to do it, though, because 
these are the types of questions you can expect to see on the final exam.) Since there are 3 
questions on Homework 8, everyone will get 15 out of 15 points.  In fact, the scores have already 
been posted to Ted! Good job, everyone! (Solutions to HWs 8 and 9 are forthcoming.)

Doc Bowers

June 1, 2013

Subject: MATH194_SP13_Bowers: Homework 8 posted
Date: June 1, 2013 11:25:02 AM PDT

Dear class,

Homework 8 has finally been posted to "Content" in Ted.  (I apologize for the delay. I was experiencing 
some technical difficulties.) This assignment is scheduled to be due Friday, June 7.  If the CAPE 
response rate reaches 70% (or better) before June 7, then the assignment will not be due, and everyone 
will automatically get full credit. You can check the CAPE response rate here:

I have also posted Homework 9.  This final homework assignment has only one question, taken from the 
textbook. (Exercise 2 in Chapter 3.) This assignment has no due date.  It is worth zero points and is not 
to be turned in.  Even so, solutions will be posted before the final exam.

Doc Bowers

May 29, 2013

Subject: MATH194_SP13_Bowers: CAPEs
Date: May 29, 2013 5:33:38 PM PDT

Dear class,

As you know, the CAPE evaluations are underway.  In order to encourage participation in the CAPE 
process, I will make the following offer: If the CAPE response rate gets to 70% (or above), then 
I will automatically give everyone full credit for the final homework assignment (the one that is 
due on the last day of classes).  You can check the current CAPE response rate here:

Good luck!

Doc Bowers

May 29, 2013

Subject: MATH194_SP13_Bowers: My Office Hours
Date: May 29, 2013 8:08:33 AM PDT

Hi everyone,

I have posted my office hours for the next two weeks (that is, Week 10 and Final Exams Week):

Please note that I have slightly different office hours next week. I have a faculty meeting on 
Tuesday at 2:30, so I changed my office hours to 12-2.

Doc Bowers

May 20, 2013

Subject: MATH194_SP13_Bowers: Math 194 Homework 7
Date: May 20, 2013 10:21:08 AM PDT

Dear class,

Homework 7 is now available in Ted. Since next Monday is a holiday, we do not have class that day. 
Consequently, Homework 7 is due Wednesday, May 29 at noon.  There will be one more homework assignment 
(Homework 8) and that will be due Friday, June 7, the last day of classes. It will be based on the 
material we cover in class this week.

Doc Bowers

May 14, 2013

Subject: MATH 194 - Bowers [SP13]: Homework 6 Typo
Date: May 14, 2013 3:38:11 PM PDT

Oops! There was a typo in Question 3 on the homework! If Y is independent of F, then E[Y|F] = E[Y] and this 
is what you need to show. (This was one of the properties we used in class.) I have corrected the problem on 
the Homework 6 sheet.

May 13, 2013

Subject: MATH194_SP13_Bowers: Homework 6 Posted
Date: May 13, 2013 10:48:09 PM PDT

Dear Class,
Homework #6 has been posted to "Content" in Ted.  This assignment is due Monday, May 20.
Doc Bowers

May 7, 2013

Subject: MATH194_SP13_Bowers: Homework 5 Posted
Date: May 7, 2013 8:39:35 AM PDT

Dear Class,
Homework #5 has been posted to "Content" in Ted. (In fact, it was posted yesterday, but I forgot to send the 
announcement.) This assignment is due Monday, May 13.
Adam Bowers

May 5, 2013

Subject: MATH 194 - Bowers [SP13]: Midterm Solutions
Date: May 5, 2013 12:07:45 AM PDT

In an effort to encourage use of the class Piazza page, solutions to the midterm exam have been posted to Piazza:

May 2, 2013

Subject: MATH194_SP13_Bowers: Homework 4 Comments (continued)
Date: May 2, 2013 3:30:14 PM PDT

And if you have any questions, please ask them in Piazza! In Piazza I can answer your questions using math symbols
instead of just text. Here is the URL:

Doc Bowers

May 2, 2013

Subject: MATH194_SP13_Bowers: Homework 4 Comments
Date: May 2, 2013 3:27:17 PM PDT

Dear Class,

I thought it might be a good idea to say a few things about the problems from Homework 4.  In each of the problems, 
you are asked in Part (a) to compute the manufacturing cost of the contingent claim X.  You can do this in two ways:

1. You can use the Manufacturing Cost Lemma, but please be aware that E*[X*] has a slightly different interpretation 
in this case, because there are now TWO periods instead of one.  That means that X*=X/B_2 = X/(1+r)^2. Also, X can 
take on more than two values in the two-period case, so you need to make sure you find all of the possible values and 
the probabilities for each. Remember that p*=P*(stock goes up). You will need that to compute the probabilities.

2. You can also compute the manufacturing cost for X by first finding the replicating strategy phi* and then computing
V_0(phi*). You actually have to find phi* in Part (b), anyway, so this is actually what I was expecting you would do.

April 27, 2013

Subject: MATH194_SP13_Bowers: HW4 and Midterm Exam Information
Date: April 27, 2013 7:39:53 PM PDT

Dear class,

Homework #4 has been posted to "Content" in Ted.  This assignment is due Monday, May 6. Our midterm exam is 
Friday, May 3.  It will include material covered in lecture up to and including Friday, April 26. That means 
you need to know everything up to and including the theorem stating that the unique arbitrage cost process 
for a European contingent claim in the T-period binomial model is given by the value of the replicating strategy 
at all times t.  The exam will be similar in style and content to the homework problems, but will not be the 
same questions.

Doc Bowers

April 22, 2013

Subject: MATH194_SP13_Bowers: Homework 3 Posted
Date: April 22, 2013 5:33:09 PM PDT

Dear Class,
Homework #3 has been posted to "Content" in Ted.  This assignment is due Monday, April 29.
Doc Bowers

April 15, 2013

Subject: MATH194_SP13_Bowers: Homework 2 Posted
Date: April 15, 2013 4:56:53 PM PDT

Dear Class,
Homework #2 has been posted to "Content" in Ted.  This assignment is due Monday, April 22.
Doc Bowers

April 8, 2013

Subject: MATH194_SP13_Bowers: Homework 1 (correction)
Date: April 8, 2013 10:07:51 AM PDT

There was a typo in Question 3.  The probabilities should be 4/7 and 3/7, respectively.  The error has been fixed
on the downloadable file.

April 8, 2013

Subject: MATH 194 - Bowers [SP13]: Homework 1 Posted
Date: April 8, 2013 9:23:15 AM PDT

Homework #1 has been posted to "Content" in Ted.  This assignment is due Monday, April 15.

April 2, 2013

Subject: Math 194 Webpage
Date: April 2, 2013 9:02:17 AM PDT

Dear Math 194 Class,

Here is the link to the Math 194 class webpage:

You can find the syllabus there.  Also, there is a link to Piazza, which is an online discussion forum we
will be using this quarter.  Make sure you register for the class on Piazza if you want to discuss the
course.  It is a much better way to communicate with me than email.  (We can actually use math symbols in

I forgot to talk about homework in class yesterday.  Usually, we will have one homework assignment per week.
(But not this week.) I will generally give you a list of problems on Monday and it will be due on the
following Monday in your TA's homework dropbox in the basement of AP&M before class.  Your first assignment
will be given to you next Monday.  I will post it online.

Doc Bowers