This book represents one of the first modern day treatments of Monte Carlo Methods (MCM). Since the publication of the first edition, dramatic changes have taken place in the entire field. This long awaited second edition gives a fully updated and comprehensive account of the major topics in Monte Carlo simulation since the early 1980's. The book is geared to a broad audience of readers in engineering, the physical and life sciences, statistics, computer science, and mathematics. The authors aim to provide an accessible introduction to modern MCM, focusing on the main concepts, while providing a sound foundation for problem solving. For this reason, most ideas are introduced and explained by way of concrete examples, algorithms, and practical experiments.