MFE program in Australia or Michigan

[CharlesL]

Hi,

What is your opinion on australian's MFE? What are they worth? And what about the Michigan MFE? Which one would you apply? Would you avoid?

As I already said in previous posts, I'm looking for a very quantitative MSc (For instance, I'm considering the possibility of making a PhD after my MFE). Under that light, which one would you choose?

Thanks

Charles.

PS : This master would be my 3rd choice (after Columbia MFE then MAFN), less demanding with english academic tests and general scores, in order to be sure I'm making a MSc next year!

 

[Andy Nguyen]

I'm not sure anyone here is able to answer your question the way you put it. You throw out two programs without any logical reason behind it. I wouldn't apply to any of them because I don't want to move to another continent nor state. What about you?
If you just want to pick another "safe choice" to do a master, there are about few dozens or so around, many are in the NYC area.

QuantNetwork Wiki

 

[daleholborow]

I can tell you that in australia, a masters is considered a poor route to a PhD. There "exists a certain prejudice against masters study", and it is considered better to have taken Honours research study if you intend to continue onto PhD research.

I think that Australian universities are indeed inclined to be lax in their english language requirements, as they increasingly chase higher fee paying international students. That said, any work you produce / publish is, I would think, almost certainly going to have to be in English if you study in Australia, so either way, get used to the idea that you'll be doing extensive amounts of writing in English.

Australia, obviously, has a considerably smaller global footprint in terms of quant finance, and I guess the study options would probably reflect that.

 

[GeorgeE]

australian mfe?? i wish it was called that...its MQF (masters in quantitive finance) at uni technology sydney (my uni)..a few people enrol thinking its "finance with numbers" or "financial accounting" lolll then they see all the maths/c++ programing and start running the other direction.. loll

.i'm not sure about the other uni's in australia but if you havent got a masters degree in a similiar field with a lot of maths under your belt, it'll be hard to get into a PhD research. Most people i know thinking of doing a phd are still trying to get thier masters out of the way and there on high distinctions averages.

why do you want a phd anyway?? for the title?? you should only be choosing to do a phd if theres something you really wanna know...you'll probably be starting on the same money anyways as a graduate if you graduated with just a masters as opposed to completing both (thats anywhere in the world)

 

[tobias elbert]

It is true that you dont have as an abundance of MQFs/ MFMs in Australia as you would have in US or EU. From the top of my head, unis that offer a proper one, are:

- UTS (Uni of Technology, Sydney),
- UNSW (Uni of NSW, Sydney),
- ANU (Australian National Uni, Canberra),
- Uni of Wollongong (small town south of Sydney),
- Uni of South Australia (Adelaide),
- Uni of WA (Perth).

Apart from ANU and UNSW, MQFs/ MFMs are taught under the business schools, not the Maths/ Science departments meaning that they train you for commercial quant type roles. Whilst still rigorous mathematically to the extent required, you won't delve much into very low level maths, e.g. measure theory (very similar to what you'd find in Shreve in terms of rigour).

I am doing the UTS MQF as a part-timer and am quite happy with the course as to the material taught and as to how it is being taught in particular. The faculty are very competent and knowledgable and do understand how to bring the material across. After all, some of the faculty at UTS enjoy a very good reputation such as Alex Novikov, Eckhard Platen, Erik Schloegl and Carl Chiarella - to name just a few.

If it helps you assess in any way, a unit I am taking at the moment, called 'Derivatives' (sort of an introductory to mid-level one in the overall degree) is somewhere between Nefci (Introduction to the Mathematics of Fin Derivatives) and Shreve (Stochastic Calculus for Finance 2) with a strong tendency to the latter in terms of depth and scope. Platen's classes (he teaches Maths of Finance and Numerical Methods) basically revolve around his two books (Benchmark Approach to Quant Finance and Numerical Methods).

I obviously can't make a comparison with eg Baruch, as I dont know much about their program. In terms degree quality, I remember Mark Joshi commenting (in his forum) on the UTS MQF as being a high quality program that sort of falls under the radar in terms of international recognition. I guess it also has to do with OZ being so far away from everyone else :D and with Sydney being a very, very small financial player in the global scheme of things.

 

[GeorgeE]

hey tobias elbert, are you 1st, 2nd yr?? I'm taking eckhards math of finance course at the moment..probably the most interesting subject of the degree..tho financial econometrics is a joke

 

[tobias elbert]

hey tobias elbert, are you 1st, 2nd yr?? I'm taking eckhards math of finance course at the moment..probably the most interesting subject of the degree..tho financial econometrics is a joke

Oh....Hi George, just noticed that you're on here as well :D. Yes, I am taking Eckhard's class and we actually spoke last week in front of the classroom (we were waiting for security to open the door) re scheduling of Advanced Instruments classes and exams in the summer.

Not sure which year I am in as I am not following the proposed study plan but take the units as they are being offered.

 

[GeorgeE]

Oh....Hi George, just noticed that you're on here as well :D. Yes, I am taking Eckhard's class and we actually spoke last week in front of the classroom (we were waiting for security to open the door) re scheduling of Advanced Instruments classes and exams in the summer.

Not sure which year I am in as I am not following the proposed study plan but take the units as they are being offered.

ahh nice, didn't expect you on here either...small world..or maybe not since this is a quant forum, lol.