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A: No, I would put it under activities B: Doing answer to A will solve this.
You pretty much have to have it chronologically.
You need to get creative with your description of the Microsoft internship since firing microsoft tshirts out of a pneumatic stadium cannon may not be transferable to investment banking.
-Dealing with fans=client interaction -Deciding where to fire while everyone begs for a shirt=making quick decisions under considerable
You could put it either in Experience, but must be chronological, or in Activities section. If you put it in the Experience section, don't worry about having it before the hedge fund, they'll notice the dates. You won't have much to say since you'll be firing off your resumes for IB interviews shortly, but if you have any sense of how competitive it was (i.e. sole campus rep selected from a pool of 200 applicants)make sure to include that.
I would opt for putting it in Experience if you can make the experience distinctive. If you really are doing things like devising marketing programs, using sales skills, and responsible for driving $X in revenue from your campus, that's good stuff that should be in the Experience section. If you're just shooting t-shirts out of a pneumatic cannon, then put it in Activities.
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