Terd Ferguson

I doubt abstract algebra is any help, but one could say that measure theory is the foundation of mathematical finance. Mathematical finance relies heavily on stochastic control problems (which is probability, and probability is an application of measure theory).

- Are there paths for Econ MA's (from a PhD program) in consulting, or would you eventually have to get a PhD? - If you got a MA from a PhD program because you didn't pass all of the comps (or decided not to retake a comp), would you be a bad applicant even if it was from a good school?

3 years ago i applied with a 460 verbal and ended up getting an offer with funding, so i'm not sure how strict that minimum is.

do option 1 and study in your down time. grab simon and blume and be comfortable with every chapter before you start math camp. also maybe grab per krusell's macro notes and study those before you start. although i would be careful not to leave your company on a bad start. you always want to keep your doors open.

I think overall your profile looks solid. I wouldn't worry about taking a topology class. I'm not sure why people always recommend that class. Only point set topology is helpful and you pick it up other places. If you wanted to do more math, take a "real" Real Analysis course (Lebesgue integration). Also Functional Analysis and Numerical Analysis would be really helpful. Although you probably should throw a couple of top 10 schools on your list, leave out the really big guys. I feel bad saying it, but places like MIT, Harvard, Princeton, Yale, and Stanford are pretty much a 0% chance. I would look at places like Northwestern and Penn (which are still ridiculously good schools). As for advice on classes, stop taking any undergrad econ courses if you are done with your major requirements. Besides for personal enjoyment, they are a waste of your time. I really think functional analysis and numerical analysis would be good for your application and for preparation. I would also take the graduate level first semester. I'm not sure about taking it for a letter grade though. Although an A in these classes would be great, it is much much harder than you would think. If you have never seen the material before it is hard to get at first and most people in your class will have foreign master degrees. So I guess I'm just saying to stop taking undergrad econ. Sit in on some graduate econ, but don't take it for a letter grade. Get to know a couple of professors well. If you do well in later math classes and on the GRE, I could see you getting to a Michigan/UCLA school. You should definitely get at least top 30. I wouldn't worry at all about your early Calc grades. Your later math courses are the only thing that matters.

Is it accurate to say that salt water schools are becoming fresh? Or are there some people that still don't buy into the whole rational expectation Lucas crap (*cough*) I mean "idea".

Don't worry about Diff Eq. The 4 classes that will help you that you are missing are 1) prob and/or stats 2) real analysis 3) nonlinear programming/optimization (lagrangian, kuhn tucker, etc ...) 4) dynamic programming (bellman eq) If time is an issue, I think just worry about 1 and 2. Real analysis is the number #1 indicator (IMHO) to grad schools about your math efficiency. If you have not taken a proof based course it can be very difficult. Most schools offer an intro to intro real analysis (yes, i purposefully typed intro twice). I would take that and then the undergrad Real Analysis I class.

I would get the math major too no matter what. I was a math and econ double major. In between undergrad and grad I worked. My math major was by far my biggest asset to any job that I was applying to (finance, management consulting, IB, etc ...). Even if you don't want to do PhD in Econ, a math degree will send a great signal to any employer that you are really good at quantitative problem solving. Your Econ major is a nice compliment to the math major to let employers know that you do have some business knowledge (sunk costs, comparative advantage, etc...). Trust me that even if you apply to something like a marketing job, you will end up promoting yourself as a MATH major that also had an econ major. Thats my two cents.

If you are wanting a PhD in Finance, I don't think I would do a masters right now. My reasoning is that you don't have much of a math background, so any masters program that you can get into would be really applied (more like an MBA) and would not prepare you at all for a PhD program. If you are serious about doing the PhD, do a year of math as a non-degree seeking undergrad. Get your Multi-variable Calc, Diff Eq, Prob and Stats, Analysis, etc ... Then apply for PhD programs. I think the CFA tests will help you personally with finance, but I doubt it will help you get into Finance PhD programs and it won't help you succeed there. It will only give you a more applied knowledge base to relate the theory you do to. Once you apply to jobs I think the CFA/PhD combo might look nice, but again ... it won't help you with school IMHO.

If you are sure that you want to do government work, than maybe Georgetown. Otherwise, UT.

Are you Economics because of the questions the field tries to answer, or because of the way they try to answer them? If it is just the questions that intrigue you, maybe look at other related social sciences. Graduate economics is night and day different than undergraduate economics. You cannot say anything without backing up your logic with robust math. This is economics biggest advantage compared to other social sciences, but it is also its weakest point at the same time. It can become very frustrating. If you are sure that you want to do economics, do really well in your math classes. An A in your proof classes (i.e. real analysis) is really big. It is not an easy thing to do.

I imagine that you would have a good chance at taking the Micro I and Macro I course at NYU or Columbia as a non-degree seeking student. If you were to get an A in these courses that would really improve your app. BUT, that isn't easy at all. A lot of your classmates will have foreign master degrees where they have already seen all of the material. If you were to get B's, I think it would actually hurt your application.

I think this small lecture is a solid first look at RBC. I'm not exactly sure if I am attaching it correctly. Hopefully this works.

I agree it would be nice to be at a place where you don't really have to worry about staying in the program (ex: Yale). But UT doesn't do it because a lack of funding. I would say that UT's program actually is more funded than most. I think UT to a small extent goes by the old Chicago idea that you should admit more people that you want to have and then let them naturally decide who stays. Although I know that UT started last year to admit less, so maybe they are going away from this idea.

I think profs get along well. I'm trying to think of a reason why you heard that.