I'm an undergrad finance major and registering for classes tonight. They gave me a shitty registration time so my top choices are getting filled up. I'm looking at this differential equations class, but I'm not sure if I should take it or not. Is it useful for finance? Same question for Calc 3. Is taking the whole calculus sequence helpful? Thank you!
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I'm surprised you can take Diff EQ before Calc 3, it's usually a pre req for DEQ. I don't really see how Calc 3 can help you in banking, it's usually multivariate calculus which is mostly teaching you how to find the volume of 3+ dimensional shapes. Both classes can have some relevance if you are in a quant heavy position otherwise you won't really need them.
I think Cruncharoo is right about it being a pre req. I know that I had to take Calc 3 before DEQ. They won't really be useful to you unless you are planning on becoming a Quant. Maybe if you want to get deep into risk.
Thanks guys for the comments. The prereq for DiffEq is Calc 2 which I have taken already. Any relevance to corporate finance or asset management (I'm looking mostly into these)? Also read that taking those two classes makes your life easier if you are doing MSF later.
I wouldn't know about CF, but it would definitely make your life easier if you're doing MSF as long as you understand it. The marginal benefit just may not be worth the amount of time spent on the semester. I may be wrong though. I'd need more feedback from my MSF friends on the rigour of the math.
The math you need for most finance positions you learned in fifth grade.
Differential equations are useful if you want to take some continuous time finance classes later on. I would actually recommend that even if you don't plan on going into trading or being a quant because it provides some good insides into financial markets, derivatives, the BS formula and so on.
I'm looking at trading as well, so it might be helpful. How do employers look at a (kind of) math heavy background (calc 3 + diff eq). Is that gonna give me some edge?
Is there any reason to take Partial Differential Equations? (Originally Posted: 09/24/2011)
Well, is there? Would there be any benefit gained from taking this class (for a person interested in Finance?) I know that a lot of models/equations in Finance are derived from PDEs, but is there really any point to take the class?
If you want to be a quant, yes. Otherwise, no.
Derivative pricing is built upon partial diff. If you are interested in quant or teaching, take it. If not, don't waste your time. I am sure it is required for math minors at most schools . First semester won't give you too much trouble. Second semester gets tough.
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