africaecon

Starting today, I will be posting questions... let start with a warm up!! Suppose X1,X2,...Xn is a random sample from Uniform[-1,1] distribution. Clearly, the true population mean and median are both equal to mu=0. Now if we would like to estimate mu using sample mean Xbar, sample median m and trimmed mean X(10%), which one is the most efficient and which one is the least efficient.

I think it's better for you to sort things out: Do you really love economics? Is it something you want to do for the rest of your life? I'm struggling with that question myself. They wouldn't have admitted you if you didn't have the potential; So You need reexamine your motivations and your goal....HONNESTLY. Be honnest with yourself!!

Hi Guys, I'm planning on taking Advanced Macro (with Phd students) next semester. I'm quite sure I will do well in it. However someone told me Macro is useless in finance. I will be applying to finance( business school ) or financial economics programs. Is it true?

Will it help my profile if i audit advanced econometrics? I will be taking financial econometrics and time-series econometrics next semester, so I don't know if taking advanced econometrics(not auditing) has that much of a marginal value.

i think many schools require you to have a list of math, stat and econ classes taken,courses descriptions ,textbooks used and grades.

I'll recommend Mankiw for macroeconomics, and Robert Franck Micro's book. Those books will give you the intuition. For Econometrics I recommend Wolldridge econometrics. Also there is a lot of notes available in MIT OPENCOURSEWARE online. econphd.net has economics graduate classes available online. Good luck.

Is there a difference between time-series analysis and time series econometrics?

i will be giving up applied bayesian or applied nonparametric. I'm taking the time series course( time series econometrics Phd in the econ department)

Do you guys think experimental design is a useful class? an excerpt from the syllabus says the following:"Analysis of randomized and incomplete block designs; factorial and nested designs using fixed, random, and mixed effects models." My research interets: Financial econ, Financial econometrics, Macro.

If I was you i 'll listen to blodwolf. The rest of the guys are just joking around!!!

If I was you, I would apply to a master in stat or econ, with your GRE(1500 is excellent) there is a school that will take you for sure. Just explain everything to them. After that I will consider law school or economics Phd. Do not lose hope. N.B.:Make sure You excel in your master's program at least a 3.7 GPA.

I honestly believe that GRE is way OVERRATED. I think the adcoms know that GRE Q does not say how good is someone at Math. I don't know If I already said this but, when I was undergrad , of all my friends, the one who got 760 was actually the best at Math. I don't know how he managed to get 760, but he destroyed the subject test in math and went to a top 5 math Phd. How he got in, letter of recommendation from a Norbert Wiener Prize winner . I think it's the same in economics. If you get 760 or even 740 and Greg Mankiw recommends you and says you are the smartest of all his student he ever had, you will get in all top5 with fellowship for the rest of your life( i'm exaggerating a bit here). But you get the point...

I think I might get B+ in my theory of the firm class. How bad it looks on a transcript?

@averageaverage Dude there is a price to pay for everything. May be it's sacrificing some time with ur girlfriend. But tomorrow you will reap the benefits. May be you need to manage your time better.

I know arizona AREC's take classes with econ Phd students. Same thing with Berkeley ARE. I don't know much about maryland and Davis. You want to make sure you go to a program with a good or decent econ program, because Ag econ is just applied economics.

I don't think GRE Q matters much as long as you have 760. I had 800, a friend of mine got 770 like you guys, and I know that he is better mathematician than I am ( believe me). Someone once said in a thread that, schools(top30) reject anything below 760 and then take a look at the rest of the pile. 800 does NOT guarantee a place in a top 20 school. I think you should focus on the math classes you take and the grades you get in them. If you score above 760 and you ace all your hard math classes, you get in any program you want. -----------------------------------------------------------------------

Your GRE will give you a good shot at top 50 programs. I think you should consider Brown, georgetown, Uvirginia, Umaryland and Gwash.

GRE scores seems really good to me. Now it will be nice if you can take some real analysis and Linear Algebra. Is your econometrics class a grad level one? May be take Phd level Micro I and macro I. I think you have a shot at a top 20 econ program...

Why are you looking down on yourself? If they asked to apply to these schools, it's because they believe you have a shot at them. I think you shouldn't settle apply to these schools and some safeties schools. Even Harvard accepted someone with 770Q in 2006. So do not rule yourself out.If you don't get in top schools you still can do well and reach the top if you work hard and are passionate by your work. example: Roland Fryer professor at Harvard graduated from Penn State, This year Harvard hired someone from Utoronto. so everything is possible...

if you want to want to make money, apply to law school. economics and law overlap: you need analytical skills for both. As a lawyer you will be makin 140k plus if you get in a top 20 law school. But be ready to say goodbye to vacations, friends and week ends and hello to 70hours+ week at the office!! In 10 years if you work really hard you will make partner and reach the 1million mark.

Looking online both bayesian and non parametric methods are used in finance especially in asset pricing. Well I guess I will take both...

I asked a friend of mine and they use Simon and Blume. typical first year mathematics for economist in a econ Phd program: Kuhn Tucker, Optimization and all that

My brother went to an econ Phd program, failed the qualifiers and then applied Boalt(uc berkeley law) and georgetown law, went to Boalt and now is a lawyer in Boston. He is happy!! Allow me to make some suggestions: First ask yourself if you really want to be an economist. You need to be honest with yourself. Are you sure you exhausted all your chances to take the qualifiers( they usually give you two chances)?

@jeeves0923 I've taken optimization and did well in it. But I thought math for economist was more impressive than Combinatorics&Graph theory(Phd in math level) since, math for economist is the class Phd in econ take their first semester. If you do well in it before even applying,then you proved you belong to a Phd program. No? Your advice are welcomed!!

The following works for me the best: Study for 50 minutes, take a 10 minutes break, do it four times and then I eat lunch or work out or tv for 30 minutes and then do it again at night.