At this advanced-level workshop, participants will learn how to develop and implement advanced financial models in MICROSOFT™ Excel™ and Visual Basic™ for Applications. We shall start with the estimation of yield curves and advanced cash flow analysis. Participants will learn how to "bootstrap", smooth and interpolate the swap-curve (using the Cubic Spline technique), and they will use this curve to price selected instruments. We will then explain how Excel/VB can be used to perform historical simulations and scenario analysis. We will also show how "Stress Testing" can be performed using Extreme Value Theory analysis. After that, we will explain and work hands-on with the Monte Carlo Simulation. Participants will learn to generate random numbers and samples from uniform and normal distributions. We will define the stochastic differential equations (SDEs) for various processes for equities prices, interest rates etc., and use these SDEs in conjunction with Monte Carlo simulation routines to price and risk-assess various financial instruments, including path-dependent exotic options. We will show how to use "Cholesky Decomposition" when sampling from multivariate distributions, and we will discuss possible ways of achieving "variance reduction". The techniques are then used to price a range of complex financial products, such as exotic options. Finally, participants will learn how to implement "Principal Components Analysis" and how to combine PCA with Monte Carlo simulation in order to create efficient pricing and risk management applications that can be used in practice.