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QtrLifeCrisis · 2009 October 19th, 04:44 AM

I will be applying to Finance Phd programs for Fall 2011. I was going to apply this year but it is not happening. I'm not looking at top tier schools, more middle of the road programs. My question is, what Math classes do I need to apply and which ones can I take together in a semester? Cal I, Calc. II, Linear Algebra? Anything else? I have 2 stats courses from undergrad and MBA. Also, I was told by one program that I don't need a Linear Algebra course, that I could study that on my own over a month or so and be fine.

zshfryoh1 · 2009 October 19th, 04:57 AM

Generally speaking I would say that you need calc III (multivariate calc), lin alg and a stats or econometrics course covering single and multiple regression. In theory you can teach yourself what you need to know from lin alg in a few weeks of study, but many schools still require a course, and even at those schools that don't you will be at a severe disadvantage in the application process to those who have it (especially considering that many or most serious applicants even to lower ranked schools do), and you will use linear algebra right away in the first semester of PhD econometrics. ODE's is useful but not necessary for the range of schools you are looking at, as is a good undergrad level calc based prob course. The other stuff that people talk about here like real analysis, stochastic processes, PDE's etc are good for people looking at top 30's and are nearly necessities for top 10's, but if you are looking at mid-ranked schools (which I assume means 30-60 range) they are not so important.

PhDCPA · 2009 October 19th, 04:58 AM

I'm in accounting but I take all the same courses as the finance guys, so here's my opinion.

You absolutely positively need Calc I-III up through partial differentiation. You'll die in micro without it. You also need linear algebra for econometrics and micro to some extent. That's the bare minimum. I'd also strongly recommend a mathematical (calc based) statistics course (unlike the ones you would've taken as an undergrad or MBA student). All the finance guys in my program have math degrees, so they've likely had analysis, too.

I'd say you can take Calc I and linear algebra at the same time, then Calc II and III. You can teach yourself linear algebra but it's better to take the course if you don't have a strong quant background since that's what finance programs are looking for.

QtrLifeCrisis · 2009 October 19th, 03:59 PM

My college offers Engineering Calculus I-III and then regular Calculus I-III. Also, they offer Engineering Linear Algebra and Differential Equations and then regular Linear Algebra. Do you have any advice as to which courses would be more helpful for a Finance Phd? Also, I wonder if it's possible to apply if you haven't receieved a grade yet in a course. For instance if I take Calc III netx Fall but want to apply can I just say "I'm currently taking Calc III"?

longshot · 2009 October 19th, 06:09 PM

Quote:

Originally Posted by QtrLifeCrisis

For instance if I take Calc III netx Fall but want to apply can I just say "I'm currently taking Calc III"?

Yes, you can do that without a problem. As far as the difference between "Engineering Calculus" and regular calculus, take whatever the math majors take.

auditing · 2009 October 19th, 08:01 PM

A little question to phdcpa..

I wanna apply to accounting and right now I have taken lineal algebra, cal through Multivaribles and statistics (regression, inference, etc)....and I was thinking about getting a economist master (strong quant program)...da ya think is better to apply now (with an accounting underg. and a MBA) or wait to get the eco master?

Quote:

Originally Posted by PhDCPA

I'm in accounting but I take all the same courses as the finance guys, so here's my opinion.

You absolutely positively need Calc I-III up through partial differentiation. You'll die in micro without it. You also need linear algebra for econometrics and micro to some extent. That's the bare minimum. I'd also strongly recommend a mathematical (calc based) statistics course (unlike the ones you would've taken as an undergrad or MBA student). All the finance guys in my program have math degrees, so they've likely had analysis, too.

I'd say you can take Calc I and linear algebra at the same time, then Calc II and III. You can teach yourself linear algebra but it's better to take the course if you don't have a strong quant background since that's what finance programs are looking for.

QtrLifeCrisis · 2009 October 20th, 02:37 PM

What about an Econometrics course? One program I was at said I need that in addition to a mathematical economics course.

zshfryoh1 · 2009 October 20th, 06:39 PM

Quote:

Originally Posted by QtrLifeCrisis

What about an Econometrics course? One program I was at said I need that in addition to a mathematical economics course.

Any UG statistics or econometrics course covering single regression, multiple regression and hypothesis testing should suffice for that and will use a textbook like Gujarati or Stock and Watson. The UG course does not have to be one that uses linear algebra and matrix notation (though that will be how it will be covered in a PhD econometrics course), and in fact will usually not use such notation. A good UG course will likely have calculus I and an intro level stats or prob course (covering basic probability distributions, variance, correlation and possibly simple sampling, basic hypothesis testing, etc.) as a prerequisite.

madhatter11 · 2009 October 21st, 04:19 PM

I was just looking at the math classes I will be able to fit in before I graduate, and I was wondering if there are any schools that I will have trouble getting into (because I don't have certain classes, etc.). I have taken/will take the following (hopefully):

Calc 1, 2, and 3.
Linear Algebra
Real Analysis
Ordinary Differential Equations
Partial Differential Equations
A two semester sequence of Business Statistics

I don't particularly see myself going to a top 10 school (unless I do very well on the GMAT in a few months). Would this group of math classes be a good preparation for a top 30 program?

zshfryoh1 · 2009 October 21st, 05:40 PM

Quote:

Originally Posted by madhatter11

I was just looking at the math classes I will be able to fit in before I graduate, and I was wondering if there are any schools that I will have trouble getting into (because I don't have certain classes, etc.). I have taken/will take the following (hopefully):

Calc 1, 2, and 3.
Linear Algebra
Real Analysis
Ordinary Differential Equations
Partial Differential Equations
A two semester sequence of Business Statistics

I don't particularly see myself going to a top 10 school (unless I do very well on the GMAT in a few months). Would this group of math classes be a good preparation for a top 30 program?

As long as the business stats courses cover multiple regression, then yes, assuming you get good grades in those courses. If you are aiming for a top 30 I would advise also taking a good calc based probability course from a math or statistics department but it is not necessary.

2009 October 19th, 04:44 AM	#1 (permalink)
QtrLifeCrisis I JUST got here. Join Date: Oct 2009 Posts: 10	Math Courses for Finance Phd I will be applying to Finance Phd programs for Fall 2011. I was going to apply this year but it is not happening. I'm not looking at top tier schools, more middle of the road programs. My question is, what Math classes do I need to apply and which ones can I take together in a semester? Cal I, Calc. II, Linear Algebra? Anything else? I have 2 stats courses from undergrad and MBA. Also, I was told by one program that I don't need a Linear Algebra course, that I could study that on my own over a month or so and be fine.

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2009 October 19th, 04:57 AM	#2 (permalink)
zshfryoh1 Within my grasp! Join Date: Sep 2008 Posts: 385	Generally speaking I would say that you need calc III (multivariate calc), lin alg and a stats or econometrics course covering single and multiple regression. In theory you can teach yourself what you need to know from lin alg in a few weeks of study, but many schools still require a course, and even at those schools that don't you will be at a severe disadvantage in the application process to those who have it (especially considering that many or most serious applicants even to lower ranked schools do), and you will use linear algebra right away in the first semester of PhD econometrics. ODE's is useful but not necessary for the range of schools you are looking at, as is a good undergrad level calc based prob course. The other stuff that people talk about here like real analysis, stochastic processes, PDE's etc are good for people looking at top 30's and are nearly necessities for top 10's, but if you are looking at mid-ranked schools (which I assume means 30-60 range) they are not so important.

2009 October 19th, 04:58 AM	#3 (permalink)
PhDCPA Within my grasp! Join Date: Nov 2008 Posts: 177	I'm in accounting but I take all the same courses as the finance guys, so here's my opinion. You absolutely positively need Calc I-III up through partial differentiation. You'll die in micro without it. You also need linear algebra for econometrics and micro to some extent. That's the bare minimum. I'd also strongly recommend a mathematical (calc based) statistics course (unlike the ones you would've taken as an undergrad or MBA student). All the finance guys in my program have math degrees, so they've likely had analysis, too. I'd say you can take Calc I and linear algebra at the same time, then Calc II and III. You can teach yourself linear algebra but it's better to take the course if you don't have a strong quant background since that's what finance programs are looking for.

2009 October 19th, 03:59 PM	#4 (permalink)
QtrLifeCrisis I JUST got here. Join Date: Oct 2009 Posts: 10	My college offers Engineering Calculus I-III and then regular Calculus I-III. Also, they offer Engineering Linear Algebra and Differential Equations and then regular Linear Algebra. Do you have any advice as to which courses would be more helpful for a Finance Phd? Also, I wonder if it's possible to apply if you haven't receieved a grade yet in a course. For instance if I take Calc III netx Fall but want to apply can I just say "I'm currently taking Calc III"?

2009 October 20th, 02:37 PM	#7 (permalink)
QtrLifeCrisis I JUST got here. Join Date: Oct 2009 Posts: 10	What about an Econometrics course? One program I was at said I need that in addition to a mathematical economics course.

2009 October 21st, 04:19 PM	#9 (permalink)
madhatter11 I JUST got here. Join Date: Oct 2009 Posts: 8	I was just looking at the math classes I will be able to fit in before I graduate, and I was wondering if there are any schools that I will have trouble getting into (because I don't have certain classes, etc.). I have taken/will take the following (hopefully): Calc 1, 2, and 3. Linear Algebra Real Analysis Ordinary Differential Equations Partial Differential Equations A two semester sequence of Business Statistics I don't particularly see myself going to a top 10 school (unless I do very well on the GMAT in a few months). Would this group of math classes be a good preparation for a top 30 program?

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