Many people's impression of mathematics is that it is an ancient edifice built on centuries of research. However, modern quantitative finance, an area of mathematics with such a great impact on all our lives, is just a few decades old. The Isaac Newton Institute quickly recognised its importance and has already run two seminal programmes, in 1995 and 2005, supporting research in the field of mathematical finance.
In the first part of this article we explored Landau's theory of phase transitions in materials such as magnets. We now go on to see how this theory formed the basis of the Higgs mechanism, which postulates the existence of the mysterious Higgs boson and explains how the particles that make up our Universe came to have mass.