Math Courses for PhD in Finance Question

[xchopysueyz]

I only took Calc I & II as an undergrad. If I'm interested in applying for a PhD in Finance, can I take extra math courses and receive grades at an accredited university as prep work before applying for a PhD program?

What courses should I take? Multivariable Calc, Differential Equations, Linear Algebra, Econometrics, is there anything important missing from this list?

Also, if my undergrad gpa wasn't that strong (3.3/4.0), but I was at a top 15 undergraduate business program, can I offset that weakness by good grades in my MBA program? I'm not looking to get into a top 10 or top 20 school, my main goal is to get into any top 100 PhD Finance program. Thanks!

[desimba]

In the order of importance as far as I understand, it would be 1) Multivariate Calculus; 2) Linear Algebra; 3) Econometrics; 4) Differential Equations.

Regarding your question regarding undergrad GPA, the way to look at it is that at this point, you cannot do anything to change it. So like it or not, it is going to be 3.3 and not a perfect 4.0, even though that is what all of us might have wanted. So focus on what you can control & change, such as your standardized test scores & GPA in the MBA program. If those two components of your profile are strong, you can definitely get into a top 100 Finance program.

SB

[Ancalagon The Black]

What about analysis and linear programming?

[desimba]

Analysis is an important topic. However for someone who is yet to take multivariable calculus, it did not make sense to suggest analysis. Linear programming is relatively unimportant in the field of economics and finance and would come after all of the topics listed above including differential equations.

[shootermcgavin7]

Originally Posted by xchopysueyz

I only took Calc I & II as an undergrad. If I'm interested in applying for a PhD in Finance, can I take extra math courses and receive grades at an accredited university as prep work before applying for a PhD program?

Yes. You might also want to look into UIUC's distance undergraduate mathematics courses.

As a minimum, I'd say Multivar Calc, a Linear Algebra course (one that goes through Eigenvectors/values and matrix decomps....so this might be two courses depending on the school), and a course in Math Stats that covers some basic inference (again, this might be two courses depending on the school).

If you get through these, Real Analysis and some exposure to Differential Equations are helpful (although the UIUC courses teach DiffEq along with the Calculus series).

At a very bare minimum, at least MV Calc and a single Lin Algebra course.

[carolinab]

You have a long way to go but it can be done.

In order of importance:

1. Multivariable Calc, Lin Alg

Most top schools wont even look at you if you dont have these 2 courses.

2. Ordinary Differential Equations, Probability Theory, Econometrics, Math Stats

I am guessing your average top applicant has about 3 out of 4 of these.

3. Real Analysis, Partial Differential Equations, Stochastic Processes

These courses would help set you apart.

Just my advice. FYI, I had only completed 2 semesters of calc by my senior year. Through taking classes my senior year and at night while working, I have managed to take the majority of these courses.

[xchopysueyz]

Thanks everyone for your help! I took two semesters of Business Statistics, will that count for any stats requirements?

[Mr.Keen]

Originally Posted by xchopysueyz

Thanks everyone for your help! I took two semesters of Business Statistics, will that count for any stats requirements?

They certainly won't. You should take the stat classes offered by the math or stats departments, which are more rigurous. A course in probability theory is essential. A course in stochastic processes would look really nice in your application. But you want to take multivariate calculus before you venture into these courses.

[EE570]

I think that a course in calculus based probability is essential. However, I would say probability theory (i.e. measure based) is not, though would of course be nice.

I would say that at the minimum multi-variate calc, linear algebra and diff. equ are required, non of them are difficult. I recently took my first graduate econ course, which was microtheory from Mass-Colell (pretty much a requirement for any finance program), you will need a fair amount of math to get through it.

[xchopysueyz]

one more question, does it make a difference where i take these math courses? For instance, will schools care if I took the courses at a local community college or at Berkeley?