Baruch MFE Hey, can you please help me decide between two undergrad MFin courses?

[roni]

I am a Baruch student and there are two undergrad MFin courses offered at Baruch and CCNY.

These are the courses:


MTH 4500- Baruch:

"This course is an introduction to the mathematical methods used in finance and their practical applications. The course begins with a review of discrete and continuous probability, including brownian motion. The finite difference methods, Monte Carlo simulation, Newton's method, and the least squares problem will be studied. These methods will be applied to solve the Black-Scholes equation, price Americann options, price exotic options, and find the zero curve. Other topics include forwards and futures, arbitrage pricing theory, bonds and swaps, bootstrapping, European and American options, put-call parity, binomial trees for options pricing, and exotic options."

MATH 38200- CCNY:

"Review of discrete time models and binomial trees. Cox, Ross, Rubinstein approach to the Black-Scholes model; Black-Scholes equation and option pricing formulae; Brownian motion and stochastic differential equations; Ito's calculus and Ito's lemma; stopping times; the heat equation; option pricing and the heat equation; numerical solution of parabolic partial differential equations; interest rate models; simulation and financial models."

Which one will benefit me most ?
I am a finance major and am trying to prepare myself best for the MFE program.
I never took 381 (the professor who is teaching 381 said that I have the necessary background to take straight 382)

here is the description for 381:

"Definitions of options and exotic options on stocks, interests rates and indices; binomial trees; volatility and methods to estimate volatility; continuous models and Black-Scholes; hedging; bond models and interest rate options; spreadsheet methods and computational methods including difference methods and Monte Carlo simulations."

Actually, taking 4500 is more comfortable for me since I am a Baruch college student. However, if 382 is better, I don't mind traveling to CCNY :\


Thanks,
Roni.

 

[AlexandreB]

I just finished the 1st semester of my MFE, and I wished I took a class of the flavour of the MATH 38200- CCNY one.

 

[roni]

I just finished the 1st semester of my MFE, and I wished I took a class of the flavour of the MATH 38200- CCNY one.

So , you think 382 is going to better for me than 4500 ?


Thanks.

 

[AlexandreB]

I think it mostly depends on 3 things:

1 - Are you aiming at a quant job or Sales&Trades/IB? For quant job, the MATH 38200- CCNY class appears much better, it's easier to learn theory/maths early on and then learn the finance details after. However, the MTH 4500- Baruch class seems more aimed at applications, thus might be the right choice for Sales&Trades/IB target jobs (very few Sales&Trades/IB people use 'complex', stochastic simulations)

2 - Your learning style. I entered my MFE straight out of a science undergrad, and during some classes this semester I understood the math but I didn't understand the motive (how the equations will help me make money in the finance world). I doubt you'll encounter this difficulty since you've been taught what are interest rates, options, forwards, etc during your finance undergrad. Personally I prefer to take 3 easy, progressive classes than 1 uber-hard one, but for some of my friends it's the other way around. I prefer to master the basics, from that point of view you might want to take MTH 4500- Baruch, I suspect it is maybe not be easier, but not as complex.

3 - Your lifestyle. If travelling makes you lose 1 hour 3 times a week, plus all the red tape involved in taking a class from another university, maybe you would benefit from investing these hours in taking the baruch class, get better grades and more time to polish your applications or do some (valuable) extracurricular stuff...

Good luck!

 

[roni]

Hey,
thanks for your response...
I still can't decide ... :/
I think I'll take 382...

Thank you

 

[e.kosygina]

There are several things to consider about MTH 4500.

(1) It is listed as full, so it may not be possible to get in.
(2) The course description is long outdated: in the Spring 2010 Prof. Zamfirescu will use the textbook
http://www.amazon.com/Mathematics-F...3?ie=UTF8&s=books&qid=1262054656&sr=1-3-spell
If you look at the content you will have a good idea about the course topics.
(3) The probability prerequisite MTH 3120 or better MTH 4120 is very essential. I would not recommend to take MTH 4500 if you did not take probability, even though over the years I had several good students from Zicklin without this prerequisite.
(4) If you would like to enroll in a good MFE program and you have never taken probability - take it. It is even more important that taking financial math. As was mentioned in one of the above replies: getting a good math background now is more essential for you, since you are a finance major.

Unfortunately I know nothing about the CCNY course. It is good that you talked to the instructor. If she says that you can take it then it may be a good idea to take it.
One remark though: at CCNY it is a 3-hour course and at Baruch 4-hour. If you were an actuarial science major at Baruch this would matter for getting a course credit.

 

[roni]

Hello,

I'm actually registered for 4500.
And, I actually decided to stay with 4500 (more comfortable for me) and if you are saying that the description is outdated, it's even better.

Also, I took 3020 and 4120 this semester.'

Perhaps, I'll take 382 at CCNY next sping.

Thanks,
Roni.