The Monte Carlo method has extended into many different aspects of the world, including, but not limited to physics and finance. The Ising model models ferromagnetism using the concept that an electron can either be spin up or spin down. A practical way to solve the Ising model is to use the Monte Carlo method, which calculates probabilities for a discrete number of iterations. Elias Kim and I want to investigate how the Ising model and the Monte Carlo method aid economists in making decisions on portfolios and risk analysis. The Ising model, which uses complex interactions between electrons and energy, can be translated to the complex parameters associated with stock volatility. To begin we will use MatLab to model the simple Ising model in chapter 8 of Computational Physics, by Nicholas J. Giordano and Hisao Nakanishi. Ultimately, we hope to compare our results in MatLab to studies that have already been published.