This course focuses on the measurement and management of market risk. The first part of the course looks at how financial institutions manage their market risk in the equity, fixed income and derivatives trading portfolios. The second part examines dynamic models to capture volatility and correlation in the return on traded assets. Copula models will also be developed as a tool to integrate market, credit risk, and operational risk as well as other risks facing the organization. Finally, we consider how market risk is measured and managed at the enterprise level.