Tuckman, Chapter 9, The Art of Term Structure Models: Drift is a 44 minute instructional video analyzing the following concepts:

* Describe the process and effectiveness of the following models, and construct tree for a short-term rate using the following models: A model with normally distributed rates and no drift (Model 1); A model incorporating drift (Model 2)

* Calculate the short-term rate change and standard deviation of the change of the rate using a model with normally distributed rates and no drift.

* Describe methods for handling negative short-term rates for term structure models.

* Describe the process of and construct a tree for a short-term rate under the HoLee Model with time dependent drift.

* Describe uses and benefits of the arbitrage-free models and assess the issue of fitting models to market prices.

* Describe the process of and construct a simple and recombining tree for a short-term rate under the Vasicek Model with mean reversion.

* Calculate the Vasicek Model rate change, standard deviation of the change of the rate, expected rate in T years, and half-life.

* Describe the effectiveness of the Vasicek Model.