ECONOMICS AND ADVANCED CALCULATION METHODS OF FINANCIAL ENGINEERING

Abstract

Topicality. The article defines the place and implementation of the tasks of financial engineering. In recent years, against the background of the active use of trade and financial instruments, the complexity of monetary relations between enterprises and financial institutions and the wide spread of computer technologies increase the relevance of the topic.Aim and tasks. The main purpose of the article is to determine the possibility of misuse of financial instruments reflecting the system of risk management, which is an element of financial engineering, which is considered as a means of achieving the competitiveness and strategic advantage of organizations.Research results. In the modern world, the processes of making managerial decisions are becoming more and more complex, while it is necessary to take into account an increasing number of factors that affect the financial results of an enterprise. Decision-makers are required to use mathematical skills in the design of financial transactions, knowledge of the basics of computer modeling. Today, not a single major financial institution in the world, including central banks, can work without computer mathematical models of modern financial science. From this point of view, a new direction in the training of specialists is relevant - financial engineering.Materials and methods. While conducting the research, sources related to financial engineering were examined, articles related to the complexity of monetary relations between enterprises and financial institutions and the wide spread of computer technologies were analyzed. Content analysis, induction, deduction, and comparative analysis methods were used during the research.Conclusion. The conclusion of the study is that the use of innovative financial technologies or the borrowing and use of advanced financial instruments from us requires a qualitatively new arrangement of cooperation, which is not possible under implementing sanctions. The final result is that the use of innovative financial technologies, the organization of the professional association of economists and financiers of the country, the creation and development of self-regulating organizations, the formation of a community of highly qualified specialists and the development of the quality management system of educational services are necessary for the development of machine building in Azerbaijan.