Stat GU 5261 at Columbia

[Qui-Gon]

I was wondering whether anyone has taken this course and if so whether they could comment on it. The course title is Statistical Methods in Finance.

 

[Andy Zhang]

I've taken it. It was honestly super easy. I've attached the syllabus I had. We went through time series but it wasn't part of the midterm. I'd say take the time series course offered by the stats department instead if you want something more rigorous.

 

[Qui-Gon]

Thanks man! The course description here STAT W5261 - Statistical Methods In Finance at Columbia University | Coursicle Columbia made it look like a neat class, glad I know it’s more basic than it first appeared.

 

[Andy Zhang]

It's useful as a GPA booster tbh.

 

[Qui-Gon]

It's useful as a GPA booster tbh.

That's not really what I think about when choosing a course tbh -- I'm paying them to put me through the wringer. On the surface it looked like a nice second course in statistics driven by apps to finance which is what drew me in.

 

[Andy Zhang]

That's not really what I think about when choosing a course tbh -- I'm paying them to put me through the wringer. On the surface it looked like a nice second course in statistics driven by apps to finance which is what drew me in.

Yeah, I know what you mean. I meant that in a more sarcastic sense though I know ppl who take courses to boost GPA... Did that somewhat a long time ago in undergrad...

 

[IntoDarkness]

a course is usually very basic and only touch the subject surface if its description has "introduction" in it

 

[WorkofArt]

That's not really what I think about when choosing a course tbh -- I'm paying them to put me through the wringer. On the surface it looked like a nice second course in statistics driven by apps to finance which is what drew me in.

Is this an elective for the MS Financial Economics program? That's the only reason you'd be interested in it I reckon. For someone with your background this should be like a prerequisite course tbh

 

[Qui-Gon]

Is this an elective for the MS Financial Economics program? That's the only reason you'd be interested in it I reckon. For someone with your background this should be like a prerequisite course tbh

It is listed as an elective on the MAFN website, though I think as a fin econ student I would be able to request to enroll. I would think stats/OR/MSFE (Eng) masters students could also take it. I had been looking at some of the stats courses listed here Ph.D. Specialization in Data Science - The Data Science Institute at Columbia University , but the stats methods in finance class appealed to me because of the focus on finance applications. It seemed like more than an intro course when I first was looking at it; the syllabus @Andy Zhang attached above shows otherwise.

 

[Andy Zhang]

It is listed as an elective on the MAFN website, though I think as a fin econ student I would be able to request to enroll. I would think stats/OR/MSFE (Eng) masters students could also take it. I had been looking at some of the stats courses listed here Ph.D. Specialization in Data Science - The Data Science Institute at Columbia University , but the stats methods in finance class appealed to me because of the focus on finance applications. It seemed like more than an intro course when I first was looking at it; the syllabus @Andy Zhang attached above shows otherwise.

I'd only take it if you need a GPA booster. Otherwise, I think taking machine learning, deep learning or time series electives would be better for interviews. IEOR has both machine learning (Alonso) and deep learning (Hirsa) though some OR students go for the EE-version machine learning course taught by John Paisley.

 

[Qui-Gon]

I already have machine learning, AI, dynamic programming and reinforcement learning, and NLP on my list all through the business school. I'm also required to take a year long financial econometrics course, 1/2 on time series and 1/2 on panel data. I've been looking at Bayesian stats, computational stats, and a couple other stats courses -- stats methods in finance being one -- just to get more breadth.

 

[Andy Zhang]

I already have machine learning, AI, dynamic programming and reinforcement learning, and NLP on my list all through the business school. I'm also required to take a year long financial econometrics course, 1/2 on time series and 1/2 on panel data. I've been looking at Bayesian stats, computational stats, and a couple other stats courses -- stats methods in finance being one -- just to get more breadth.

Did you check here (it'll take some time before Fall 2021 schedules come...)? CU Directory of Classes

 

[Qui-Gon]

Did you check here (it'll take some time before Fall 2021 schedules come...)? CU Directory of Classes

I hadn't seen this before, thanks a lot!

 

[xzhang]

Are you choosing courses for the first year? I thought we have a fixed schedule that is listed on the website. Are we allowed to take whatever we want in the first year?

 

[Qui-Gon]

Assuming you’re looking at Track B, you can take 3.5 units (1 full course and a half course or 3 half courses) of electives in the 2nd semester of your first year. That said, I was looking at the stats methods in finance course for 1st semester of 2nd year.

There are some typos on the new program website that appeared in the last ~2 weeks when they made some updates. Continuous time finance and advanced derivatives are only required in fall term, it also lists them under spring for the 1st year as if you need to take them again. Big Data in finance is listed as half term when its actually full term.

 

[xzhang]

Thanks! Do you know if we can take fewer classes for 1st semester of 1st year and take these required courses later? Cause it'll be the recruiting season in the fall semester so it's been my biggest concern. Sorry I got another question; I've contacted the director but he is on a vacation now so haven't got any response yet.

 

[Qui-Gon]

Thanks! Do you know if we can take fewer classes for 1st semester of 1st year and take these required courses later? Cause it'll be the recruiting season in the fall semester so it's been my biggest concern. Sorry I got another question; I've contacted the director but he is on a vacation now so haven't got any response yet.

While I’m not positive, I think the answer is likely no (aside from opting out of the computing for business research course). “The Master of Science in Financial Economics is a STEM eligible degree that requires four semesters (fall and spring) of full-time study at Columbia Business School.” — I think the minimum number of courses to be considered a full-time student is 4.

 

[xzhang]

Sorry, I meant taking the required course later while take some master courses in the first semester. Cause I think master courses are better during a recruitment season?

 

[Qui-Gon]

Sorry, I meant taking the required course later while take some master courses in the first semester. Cause I think master courses are better during a recruitment season?

I’m not really sure. Perhaps reach out to some current students/recent graduates on LinkedIn and see what their first semester experience was like. In my opinion, the main value add of this program over other quant finance programs is the PhD level curriculum (I know you can take PhD courses at other programs but nowhere else are you getting 10 of them), and this absolutely can be used as a selling point in interviews in order to distinguish yourself from candidates from other quant masters programs. Why shoot yourself in the foot and take masters level coursework in your first semester?

 

[xzhang]

Totally got your point! I was thinking masters courses cuz it takes time to prepare for interviews and also just the job hunting process in general takes lots of time. And the stuff we learned in the 1st semester is not helpful for interviews. Taking masters courses maybe a way to have less workload?