Hello again,
So I'm currently wrapping up senior year. Due to going to a liberal arts school, I have to complete some core credits in fine arts (kill me) and am having trouble fitting it into my schedule.
I am taking an applied econometrics course that I am considering dropping due to my already large course load/difficulty and wondering how useful it actually is.
To be blunt, I doubt that econometrics at my school is much up to scratch. That being said, I wanted the opinions of knowledgeable people on here:
How useful is econometrics to getting a masters in quantitative finance or financial engineering?
I plan on completing my UG in mathematics at some point and then hopefully doing masters in a quant finance field.
Should I stay in econometrics? Or drop it?
Thank you!
I would drop it if it you don't think that you can even get a B in the course.
if u r sorta math/stats savvy, u can safely ignore econometrics in ug level and simply pick it up with a book later down the road.
@abhi7; I could easily get an A and many of my friends have said that it's a good class, however the fact that we have to do a project where we run our own regression between two variables and write about it, etc is just a lot of work on top of my Chem class, Calc II and looking for a job and my other classes.
Calianalyst; I could probably learn it pretty easily (at least the core methods), however am curious if it is something that is a prereq for many MSF programs?
Are we talking MSF or MFE.... two completely different animals.
Sorry for confusion. MFE; and in regards to your earlier info., the econometrics is "applied" and as the instructor says, not that much quantitative analysis or mathematics involved.
I am up to Calc II, however plan on continuing my UG education part time at a better university if I have the time when I'm working. Depending on the job I get of course. If I get a good job in IB or something that opens up a lot of windows anyways, I won't have the time. However if it's something not so time consuming, I'd def try to do evening classes.
Also, since you seem knowledgeable, is the MFE equivalent to a MQF (masters quant finance)?
Also, what is the large diff between MFE and MSF?
Don't want to sound like an idiot that wants MFE but doesn't know what it is, but applying and learning about it aren't at the top of my list of things to do right now; and it'll be a long ways off regardless.
Thanks!
MFE = MQF = MSQF = MSCF = Math finance... and the list goes on...
MFE is a multi-disciplinary degree combining math, computer science, and finance (specifically, derivative pricing). Emphasis tends to be on the computer science as your projects will be programming models to price derivative products; thus, MFE is a very technical degree. MFEs will get jobs as quant analysts, risk analysts, statisticians, software engingeers, etc.
NOTE: if you want DEVELOP models, that is a job for PhDs in hard sciences. MFEs generally review/debug these models.
MSF is just as it sounds, a graduate degree in finance. You'll take some corporate finance, some accounting, a few generic investments courses, etc. MSFs will generally get jobs in corporate finance, IB, corporate accounting.
Exceptions for MSFs would be the Princeton or MIT programs, as both are very quantitative. Given the right background, one could fight for quant jobs coming from either of these two programs.
Here is a guide of useful information for MFE programs (though, it's slanted for international applicants). https://www.quantnet.com/threads/quantnet-2012-2013-international-guide…
Minimum req.s for top MFEs will be: Calc 1-3 ODE & PDE Linear Algebra Probability & Stats Stochiastic Calc
That said, a rigorous proof-based econometrics class will add value to your MFE application. If it's not a proof-based class chances are it's not too difficult.
Remember, MFE is really a combination of three fields (math, computer science, finance); you need to have a firm grounding in a least two of the three to have a shot at top programs.
To answer the question, if you're an applied math major you could probably drop the class. If you're an econ major, you should take it to strengthen the math component of your application.
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