Before revision:  In addition to an efficient numerical scheme for calculating European vanilla and early-exercise option prices, we describe an algorithm for Monte Carlo-based pricing of more generic derivative prices which involves an efficient approximation for the risk neutral drift that avoids having to simulate drifts for every forward settlement date required for pricing.
After revision:  In addition to an efficient numerical scheme for calculating European vanilla and early-exercise option prices, we describe an algorithm for Monte Carlo-based pricing of more generic derivative payoffs which involves an efficient approximation for the risk neutral drift that avoids having to simulate drifts for every forward settlement date required for pricing.