Maybe your time is better spent talking to the back office boys after work and figuring out the internal control system. Then once you bypass that, you can do a reverse Jerome Kerviel and end up $7billion in the money.§eraphim said:
Seriously though, I probably wouldn't bother with the part time Masters - it couldn't hurt though. What model did you want to look at empirically? I'd say that it would be helpful if you researched the same model being used on your particular desk. I have heard from a possibly unreliable source that Hull and White's extension of the Vasicek model is really popular in the banks because it gives you closed form solutions to bond prices.