Are math classes necessary?

What kind of shitty econ department doesn't even require you to take multivariable calculus? Depending on what parts of S&T you're intersted in, yes there are a lot of classes that would help you.

Agreed. Sounds like a joke of an economics department. Not your fault though, but if you've never heard of Stoke's Theorem, have no idea what a prior and posterior distribution are, or have no concept of a partial derivative (not that any are necessary by any means) then I'd seriously question the worth of the paper your "economics" degree will inevitably (and regrettably) be printed on.

Regards

I'd definitely take Multi and Linear Algebra at least... they come in handy in economic optimization anyway. I'm surprised one, if not both, is required. But its all about if you think you can handle it... How does your department let you get away without taking Calc II?

I never took a math class (just a couple easy intro stats courses) and I have done just fine. I am sure it helps, but you can get by without it. Not requiring math courses for an econ degree is fine, just so long as the students are comfortable doing the math for econ classes.

So the econ major never even requires you to learn integrals? Really should take Calc II at least even if you don't do s&t.

really...yes...everyone graduating with an econ degree from a top20 school should know what an integral is.

Wasn't required for econ at my school either....but integrals....don't you learn that in High School? At least I did.

You learn basic integration in Calc I, but usually don't get into the more complex ones until Calc II.

Math classes are not necessary. I have never taken a math class in college and received an offer in a quantitative role at a BB S+T. That being said, it certainly came up in interviews that I had never taken a math class, and I was given a bunch of brainteasers to show that I had the ability to do the work. I have taken a couple intermediate stats classes, which I would definitely recommend, perhaps even over pure math courses.

I don't know specifically about S&T but the prop trading gigs all want a lot of math. Take calculus up to multi-variable and a year worth of statistics (better from the math dept. than from econ or business). Linear Algebra is less necessary IMO but would definitely help.

I do not think you can take enough math. This is especially true if you want to go back and do grad work in econ some day.

there is a distinction between an economics policy major versus economics theory at least at my school. econ theory required multivar and linear algebra and more quant econ electives

I go to Northwestern; it's a legitimate program.

I need a stats class as well as calc I but calc II is only a prerequisite for econometrics and intro to mathematical economics, neither of which are required courses for the major. Linear algebra isn't necessary for any econ course.

I guess I'll take calc II though. I'm just more interested in the humanities so if i could get by in trading without it I'd rather pass.

"You know I look gangster in my pink polo"

more math is always better - fantastic screening mechanism; I'd encourage everyone and anyone to minor in it, even if you aspire to become a writer / artist / etc (ie - any non-quantitative job)

i find that very hard to believe. Howd you get through econometrics or even your statistics courses? and economics requires superior math skills. This has to be a joke or your just in a shitty program.

i find that very hard to believe. Howd you get through econometrics or even your statistics courses? and economics requires superior math skills. This has to be a joke or your just in a shitty program.

my school doesn't require anything past calc 1 for a basic econ degree either (top target).

one opinion:

taking lots of applied math (as opposed to pure math) will give you access to more complex (ie. less easily replaced by computers) trading: derivatives and algorithmic strategies/platform creation.

rough guide hierarchy of math:

Tier 5) whatever you want, Research issues, Tools and techniques, Scientific-computing type issues (approximating PDE's on a computer)

Tier 4) Real and Complex Analysis, Partial Differential Equations (PDE), (maybe if you want some kind of Abstract Algebra (--> Abstract Algebra leads more into pure math))

Tier 3) Ordinary Differential Equations

Tier 2) Linear Algebra * Multivariable Calculus

Your Base, Tier 1) Calculus

Naturally, you'll want to supplement with a great deal of Stats... Basic Stats, Bayesian Stats, Econometrics, Stochastic Calculus, Time Series Analysis

Lastly, don't forget computer programming skills! and at least basic comp sci stuff (algorithms, in a theoretical sense, from a speed/complexity/mathematical point of view) -- comp sci, formally, is just all math

i interned at a deriv desk at bb this past summer...most traders were former football players. you think they know much calculus? hahaha. only the structured products traders were math/physics/compsci majors. so for ordinary deriv sales or trading position, i think you're fine. only if you want to trade exotics, then would you need calculus/higher maths.

You should at least take some math because people are impressed by it for some reason. Also, it will likely come in handy at some point.

Take game theory, its baller.

Most econ departments only require calc I and a stats course...

Anything beyond Calc I isn't necessary unless you want to go into quant trading, which nowadays requires graduate degree in math/physics/CS which already disqualifies you.

Taking classes like linear algebra and multi variable calculus is a waste of time considering you will forget everything you learned a few weeks after the semester is done. Math is like learning a language; if you don't use it every day it's just going to get sloppy. Unless you really really like math, the only thing these tough courses will accomplish is ruining your GPA.

At the very least, it could make a difference between you and other econ majors (since it seems that a bunch of econ departments don't require any real math) when it comes to recruiting. If you do end up taking higher-level math classes (Tier 3 or higher on 546mpster's scale), there's no reason not to put it on your resume, but I wouldn't make a big deal about Calc 2.

If you have the time, you could try auditing a higher-level math class before you decide to take it the following semester.

Only two things are infinite, the universe and human stupidity, and I'm not sure about the former.

I would agree a bit with what several posters have said. Not everyone can do math. Especially at elite universities like Harvard, MIT, Princeton, Chicago- the upper level math classes are very small and really geared towards the most gifted students- international math olympiad/Putnam caliber. The reality is that these students are too smart for Wall Street (with the possible exception of equity high frequency and IR exotics.)

For example, 95%+ of Princeton econ students aren't really able to handle MAT 218 which uses Baby Rudin- a very difficult text, comparable to masters-level work at most universities. A slightly more accessible introduction to real analysis is Marsden's text. If one goes to an ivy league but is not incredibly talented in math, I would suggest taking summer classes at your local university to get some exposure to math beyond Calc I-II.

In this environment, anything you can do to differentiate yourself is a plus. Knowing math is an excellent way to do this. An economics major is incredibly easy. Getting an A in Complex Analysis isn't.

I was a math major, now I work on a (non algo trading) prop desk.

My very broad advice is to do what you are good at. If you have never been a math rockstar, then you won't be one on the desk, and they aren't hiring you to do that. Find what your competitive advantage is.

That said, math helps for at least a couple reasons.

Math provides a good tool set for solving problems. If you are very comfortable with derivates, integrals, linear optimization, stochastic processes, etc. then you have a good framework to tackle a lot of problems - maybe those that have not been fully modeled yet.

Another benefit is that there is a floor on how poor your reasoning skills can be if you were able to cobble together solid enough proofs to survive a couple analysis and modern algebra classes. It, like physics, is generally respected as being difficult, so people will assume you have the intellectual horsepower for the job. The idea is, "How stupid can you be if you aced quantum mechanics?"

I know that having a math degree conveys a lot about brainpower and reasoning, but to what degree is it used by traders on a regular basis? And I would assume that generating investment/trade ideas is one of the most important aspects of the job, but if you're interested in doing that (generating ideas, etc) and not too well versed in advanced math would you be at any real disadvantage?