Required math courses for competitive application at top MFE programs

[Mike Luo]

My situation: I graduated from a top 10-12 university with a degree in Econ a few years back. After working in IB for a while I now want to do an MFE program. My problem is that outside of Calc 2, Stats 101, and Econometrics I didn't take any other math courses in undergrad. I plan on "filling in the blanks" so to speak, at a community college. Which courses do I need to have a competitive application?

I know that multivariable calc, linear algebra, differential equations, and a calc based probability course are necessary as well as 1-2 courses in C++. Is there anything else I would need to have a competitive app and how much does it hurt me that I didn't take the bulk of my math at my undergrad?

 

[CGiuliano]

Out of curiosity, which University?

I would make sure the probability at your cc is calc-based.

 

[Mike Luo]

I went to Northwestern.

Think the courses that I listed would be enough?

 

[CGiuliano]

Those are the prerequisites for a good amount of schools, but if you have the chance I would try to take advanced calculus, theory of statistics, stochastic process and PDE.

Financial Mathematics: Admissions Prerequisites - Stanford University

 

[Andy Nguyen]

And make sure you get straight A for those courses. If possible, seek to take the honor, special track offered for each course. I know for a fact that many CC offers these more difficult track for motivated students seeking to standout.

 

[akbar]

If someone has not studied that much mathematics and C++ in undergrad and graduate level. For instance a person majoring in Economics do not study that much mathematics but rather they are offered more courses on econometrics.

Is the GRE Mathematics a best substitute for less number of Maths courses, (given you get some good percent in the test)?

 

[Andy Nguyen]

GRE is never a substitute for lack of math. You can get 800 GRE Math and still not get in if you didn't take the required math courses.

 

[WilliamY]

Hey Mike,

If you have impressive work experiences in IBs, HFs, or the financial/banking industry, I say that will greatly offset any weaknesses in your application. I spoke to many Professors on the admissions committee from some of the top programs; since the quality of a program is primary or is judged by its placement records, the admissions committee quite often will overlook your mathematical background in favor of your demonstrated "employability".

Please note, however, that the more prepared you are, mathematically and computationally, the more you can benefit, absorb, and learn, intellectually, from one of these programs. Consider a seasoned manager versus a student straight out of college in an MBA program, it's obvious who is capable of benefiting, absorbing, and learning more through the program. You can check out students from some of these top programs (http://www.baruch.cuny.edu/math/Students2006.html) and you will see how fundamentally sound and well-prepared some of these students are. Mike, if one is encountering the presumably advanced topics in mathematics or deriving the Black-Scholes formula for the first time in the program, the truth is that he or she is already behind and the nontrivial consequence is that the intellectual benefit that one can get out or derive from one of these programs is then limited. The principles of leverage apply aptly well in this situation: the more you know, the more you'll be able to learn, experience, and enjoy this world. You have the inherent advantage and check mark next to "employability" so my advice to you is to enter a program as prepared as you can so that you will be able to hit the ground running once the program commences.

At the end of the day, you have to ask yourself what you want to accomplish in one of these programs and why you want a degree from one of these programs. (Incidentally, I believe these are the personal statement/essay topics of many programs ). If your goal is to switch roles within your current institution, I wouldn't stress out over your background with regards to the application itself. If you are genuinely interested in improving mathematically, many of the forum participants will gladly guide you to the relevant mathematical subjects in this field/profession.

I'm constantly distressed by applicants asking the wrong questions. (e.g. Is this "enough"? What's the "minimum"? And questions about the venerable three letter word organization I will refrain myself from mentioning. No, it's not the SEC or FBI!) I hope you will find my post helpful.

Good luck!

 

[akbar]

GRE is never a substitute for lack of math. You can get 800 GRE Math and still not get in if you didn't take the required math courses.

Perhaps I was not clear in my earlier post. I was actually talking about the GRE Mathematics Subject Test and not the maths section of the GRE General. Does a good score in subject test will count in my favor despite fewer mathematics courses in previous academic qualifications?

Thanks,

 

[Mike Luo]

Thanks for the replies, they were very helpful.