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This volume describes in detail teaching philosophies, curricular structures, research approaches and organizational models used in European countries. It offers concrete teaching strategies and examples: from individual tutorials to large classes, from face-to-face to web-based teaching, and addresses educational and cultural differences between writing instruction in Europe and the US.

The Paris-Princeton Lectures in Financial Mathematics, of which this is the second volume, will, on an annual basis, publish cutting-edge research in self-contained, expository articles from outstanding - established or upcoming - specialists. The aim is to produce a series of articles that can serve as an introductory reference for research in the field. It arises as a result of frequent exchanges between the finance and financial mathematics groups in Paris and Princeton. This volume presents the following articles: "Hedging of Defaultable Claims" by T. Bielecki, M....