Little bit of maths+economics vs accounting major
Hi, I've been trolling these forums for a while now. I previously wanted to pursue a career in auditing but, from what I've read on these forums, a career in trading seems more interesting to me. I'm fairly new to the world of finance so I don't know much yet.
I'm currently a uni student in Australia doing a Bachelor of Commerce. And I'm having a bit of trouble deciding what subjects to do. I have decided that I want to major in finance. And with the remaining subjects I have available, I can decide to do a major in accounting or I can use those subjects to study a mixture of economics and maths but with no majors in them (btw: I don't think we have such things as minors at my uni). Basically, I have 8 spare subjects available. To get a major in accounting I need to study 8 subjects. So I can use those 8 on accounting or a mix of maths and economics.
I have read that maths is a plus when applying for jobs in trading but how much of a plus is it compared to a major in accounting?
The maths subject Im listing here has 2 other pre-requisite maths subjects so I cannot just take it on it's own. I need to devote 3 spare subjects to it. The maths subject that I wanted to take and that I felt was useful had this description:
"Mathematical definition of options and other financial derivatives; probability models; mathematical models of random processes; applications; numerical methods; Monte Carlo methods.
Objectives
The learning objectives of this unit are to:
* develop an understanding of the modern approach to evaluation of uncertain future payoffs;
* develop an understanding of the <span class='keyword_link'><a href="/resources/skills/trading-investing/arbitrage" target="_blank">concepts of arbitrage</a></span> and fair games and their relevance to finance and insurance;
* develop an understanding of concept of conditional expectation and martingales and their relation to pricing of financial derivatives;
* develop an understanding of the random processes such as Random Walk, Brownian Motion and Diffusions and be able to apply them for modelling real life processes and risk models;
* obtain skills to use Ito's formula ;
* develop the skills to price options by using the Binomial and Black-Scholes models;
* ability to simulate the price process and obtain prices by simulation;
* ability to formulate discrete time Risk Model in Insurance and use it for control of probabilities of ruin."
I am leaning towards the maths subjects and a bit of economics but am pretty clueless. So would this maths subject be much more relevant and useful than an accounting major? I already have some basic knowledge of accounting because I've already taken 2 accounting subjects.
Sorry if this is kind of confusing to read.
Thanks
edit: woops I really shouldve said econometrics instead of maths since the subject is listed under econometrics.
If you're interested in going into trading, I would definitely recommend taking the math and econ courses. Accounting would be more useful were you to go into banking instead. When hiring for trading, banks look for people with strong quantitative backgrounds as opposed to those with accounting skills. The class you outlined seems like it would be very relevant for a career in trading and would teach you a lot about what you need to know to interview and understand the fundamentals behind the market.
Beatae nisi velit magni deleniti quo dolorum. Rerum alias dolorum laborum qui velit libero distinctio. Sunt consequatur quis in repellendus qui non. Commodi et saepe non ut ratione aperiam. Nisi repellat fugit dicta cumque qui exercitationem. Nobis aliquid ducimus eos debitis.
Soluta officia deleniti esse qui qui. Asperiores consectetur molestiae ducimus et quod ut. Voluptates voluptas dolorem facilis. Fugiat maiores quos quis dolorum neque reiciendis iure voluptatem. Facilis esse in laborum tempora voluptatem. Voluptatem autem animi facilis animi consequatur.
Atque omnis minus reprehenderit et id magni. Ut sit aut voluptas minima recusandae esse.
Dicta ea eaque et sit esse optio non. Voluptatem laudantium qui odit quis enim iusto iste.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...