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CS or econ??

Joined
4/3/12
Messages
9
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11
I'm an undergrad right now. If I want to apply to MFE program and hopefully be a trader in the future, do you guys think I should chose computer science minor or econ major (in addition to my math major)?
I think CS would be helpful for applications of MFE but that econ knowledge might be more useful for being a trader... Is my intuition correct?
 
Keep the basic understanding of micro/macro econ and toss out all the calculus and lagrange multiplier optimization problems. Perhaps understanding econometrics/time-series and game theory can help. Take a basic finance course. Minoring in CS should allow you to do this.
 
Yes and no. But I advocate CS

The current trend in the market is market automation. Although DominiConnor once pointed out that finance is now saturated with developers, the major as a whole will continue to see demand (and with more career options) because to 1) people don't like studying hard math/programming, and 2) people don't like studying hard math/programming. Given the rise in competition, however, you need to be very good and very thorough.

In terms of becoming a trader, CS is not a necessity and econ / intuition can very much help you make a lot of money. However, you also need to take the recruitment process into consideration. Different desks look for different traits from their traders, and I have seen no evidence of any particular major producing better traders. Desk just want to recruit someone who's smart, dedicated, open-minded, and isn't going to lose them money. You need to show you've done your homework about trading and answer interview questions, but managers tend to focus on your strength and how you may add value to the desk RIGHT NOW. A developer can produce more visible impact than an economist. Everything you'll really need to know about becoming a good trader is often gained through apprenticeship and observation while you're working either as a developer, middle office, trading assistant, and related roles. Similarly, your mentor / desk mandates will likely have much great influence on your trading style then your major.

CS obviously has the quant touch to it and hiring managers tend to look favorably on students of hard science background (so says the rumor). Desk don't hire econ majors exclusively, so you just need the basics to get through your interviews while focusing on your strength. You should place more concerns over your grades and whether you're attending a target school. If you still have extra time thinking about your major, go to company presentations and contact alumni in the industry. Those will help you more than mere decision on your major.
 
Thanks guys! I really appreciate your advices. I personally prefer CS over Econ (just because I find it interesting...), and I think bullion made a great point of choosing CS. But if I do CS minor, the only econ class I have will be Intro to Micro/Macro and Intro to Game theory (and probably an intro to finance course as well). Will grad school want someone knows so little about economics??
 
as an econ/finance major i can tell you that the intro econ courses are basically useless, if you're applying to an mfe i think the cs courses will be more useful since an mfe usually is pretty heavy with programming, however why don't you try taking some econ courses in the summer, since you are a math background, you can skip a lot of the prep math courses for econ since you are already learning all the math anyway with your math major, the main courses i would try to get in as far as econ would be game theory and adv micro/macro(if you have time why not take during the summer) and if your applying to mfe programs the econ courses will be nice to have but i would think the cs courses will be looked as more favourably than econ courses
 
I have a severe economics bias so look out! Haha.. Let's be honest. Asset values are highly correlated with macroeconomic conditions. They aren't correlated with having a CS degree! And on the same token, you can get all the programming exposure you need with a minor in CS. So combine being able to understand the macroeconomy and the way it moves markets along with being able to code is a pretty baller combo of skills. And forget the intro econ! Dig into econometrics and you'll be a SAS programming/regression warrior.
 
as an econ/finance major i can tell you that the intro econ courses are basically useless, if you're applying to an mfe i think the cs courses will be more useful since an mfe usually is pretty heavy with programming, however why don't you try taking some econ courses in the summer, since you are a math background, you can skip a lot of the prep math courses for econ since you are already learning all the math anyway with your math major, the main courses i would try to get in as far as econ would be game theory and adv micro/macro(if you have time why not take during the summer) and if your applying to mfe programs the econ courses will be nice to have but i would think the cs courses will be looked as more favourably than econ courses
Thanks for the response. I was a psych major before and really have no time to take any more classes if I want to graduate on time (I'm taking two math courses during the summer). But I'll try to take some of the econ/finance courses online!
 
I have a severe economics bias so look out! Haha.. Let's be honest. Asset values are highly correlated with macroeconomic conditions. They aren't correlated with having a CS degree! And on the same token, you can get all the programming exposure you need with a minor in CS. So combine being able to understand the macroeconomy and the way it moves markets along with being able to code is a pretty baller combo of skills. And forget the intro econ! Dig into econometrics and you'll be a SAS programming/regression warrior.
Haha everyone is telling me to forget the intro econ.. Thanks, even though I don't have time, I'll take more macro classes!
 
you did a complete 360 moving from psych to math and cs, i find that interesting since half my friends at uni are psych majors; what prompted this change of heart ?
 
you did a complete 360 moving from psych to math and cs, i find that interesting since half my friends at uni are psych majors; what prompted this change of heart ?
I know it sounds insane =) Well, a short answer would be that psych is not what I thought it was. After taking a few psych courses, I found the ongoing researches are rather boring (at least for me). You can't do much about human brain because of the limitation of technology. I'm always good at math, and it seems exciting (and challenging of course) to be a trader.
 
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