Northwest A & F University
International workshop on research issues in applications of probability and statistics offers
TUTORIAL MINI-COURSE ON
COPULAS FOR
CORRELATION ANALYSIS IN
FINANCIAL ECONOMICS

　　Organizer: Dr. Tonghui Wang and Zhao Xu

　　Time: 8:30 – 11:45 am, Friday, June 1, 2012 and 8:30 – 11:45 am, Monday, June 4, 2012.

　　Location: 理学院二楼多媒体教室

　　Instructor: Dr. Hung T. Nguyen, New Mexico State University, USA and Chiang Mai University, Thailand

　　Textbook: The PDF file of the lecture notes will be provided to all participants in this min-course. Any interested researcher or students who wants a copy of the lecture notes should contact the course organizers
at twang@nmsu.edu or xuzhao168@sina.com

　　Objective and Audience: This is a set of lecture notes designed as a handout for a workshop on copulas as a general and rigorous tool in modeling correlation among random variables. The main aim is to introduce economic students and researchers to the topic of copula and their potential use in describing dependence among financial variables for decision-making. Inspired by recent criticisms against the use of Gaussian copula in financial markets, we will emphasize the obvious fact that, while the mathematical analysis is correct, its use in real-world problems requires careful considerations! This workshop seems useful to all economic students, as well as to statisticians and researchers who involve in applying statistical methodology to real-world problems.