j2018 Posted January 29, 2018 Share Posted January 29, 2018 Hi, I am trying to decide on which undergrad math courses to take for PhD econ. I have three classes in mind: probability, stat inference, and stochastic op research. Ideally, I would take all, but I'd need to drop one. I've been thinking that probability is the most important one out of them, but it's with a notoriously bad professor. So, my heart tells me that i should drop probability, but I am not sure how important it is to have probability on the list of classes I took in undergrad. Any advice/opinion on this? Thanks in advance! Quote Link to comment Share on other sites More sharing options...
greg3 Posted January 29, 2018 Share Posted January 29, 2018 None of the courses you've mentioned are maths, unless your probability classes are measure theoretic. Any of these classes should be fine, and perhaps none of them are really fundamental apart from inference. Quote Link to comment Share on other sites More sharing options...
AppliedMicro92 Posted January 29, 2018 Share Posted January 29, 2018 Probability > stat inference >>>>> stochastic op research. I was told by multiple economists to become intimately familiar with probability and statistics (e.g., Bayes, distributions and moments, maximum likelihood, CLT, MSE). Quote Link to comment Share on other sites More sharing options...
greg3 Posted January 30, 2018 Share Posted January 30, 2018 Probability > stat inference >>>>> stochastic op research. I was told by multiple economists to become intimately familiar with probability and statistics (e.g., Bayes, distributions and moments, maximum likelihood, CLT, MSE). You're very wrong in discrediting stochastic OR. Depending on syllabus, it might include Markov chains and processes, Poisson processes etc, which are quite crucial and often very proof-based (again, depends on syllabus). Quote Link to comment Share on other sites More sharing options...
chateauheart Posted January 30, 2018 Share Posted January 30, 2018 You need a proof-based probability course for econ PhD. Not having one means you'll crash in first year metrics and perhaps micro/macro, regardless of admissions results. If a particular probability class sucks, try to find a probability course at either a higher level or a lower level. There are not many colleges where only one level of proof-based probability course is offered. Go take one based on measure theory if you really have to. Stochastic op research might be useful but it's not clear to me that you actually satisfy the prerequisites, considering you don't have any dedicated probability course on your transcript. Stat inference seems like a softer stats course which is not needed in the typical trajectory of an econ PhD applicant. Quote Link to comment Share on other sites More sharing options...
greg3 Posted January 30, 2018 Share Posted January 30, 2018 You need a proof-based probability course for econ PhD. Not having one means you'll crash in first year metrics and perhaps micro/macro, regardless of admissions results. If a particular probability class sucks, try to find a probability course at either a higher level or a lower level. There are not many colleges where only one level of proof-based probability course is offered. Go take one based on measure theory if you really have to. Stochastic op research might be useful but it's not clear to me that you actually satisfy the prerequisites, considering you don't have any dedicated probability course on your transcript. Stat inference seems like a softer stats course which is not needed in the typical trajectory of an econ PhD applicant. Well said, I'd stick to that piece of advice. Though statistical inference (at least at my uni) was quite a poweful course, without which advanced econometrics would not be managable. Quote Link to comment Share on other sites More sharing options...
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