Hi guys,
I'm a sophomore at a Midwest target. It's time I start thinking about my life after the undergraduate, and was wondering if it is possible to prepare for a banking gig and Ph.D program in econ at the same time.
Thanks.
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yes, it is
take linear algebra and vector calculus. those are the bare requirements for a ph.d. application. you will strengthen your application with more classes but upper level math classes at chicago or northwestern are GPA-killers. you need to figure out the sweet spot and be honest with yourself at how well you can do in those classes.
Econ PhD programs at good schools are very competitive (often with lower acceptance rates than the MBA program). In order to be a strong candidate you need math and lots of it. Linear algebra and vector calculus are very basic, so my advice for OP would be to take several real analysis classes. These might be tough, but you must do well on these to have a chance to get into a good program.
economists are extremely insecure about their mathematical prowess, being seen as a soft science by the natural scientists, so are more anal about good math coursework. however, OP is hedging against the possibility that he'd be going into IBD, in which case torpedoing his chances by getting bad grades in measure theory or differential topology closes one door.
it's better if you just commit and do a good job. between the two, prepping for phd leaves the other door wider open than the other way around.
You're just now thinking about your life post-ugrad? Life's gonna be rough.
please don't even compare econ to engineering (econ major here). i remember in one of my upper level microecon classes my engineer friend took the class with me just for fun and destroyed the curve without ANY econ background (versus most people in the class who were econ majors).
oh please cowfoot, you tried to pull rank on me with that "if you'd taken a grad course in micro" bullshit and i called you out.
just let it drop.
OP, these are truly conflicting paths IMHO. I have had friends who made straight "A's" in most Math and Econ classes but were rejected to all top 10 programs. One friend was interviewed at Harvard and asked to explain his B- in a part of Real Analysis, when he had an overall 3.9 math GPA, and was seemingly rejected on those grounds. Unless you can essentially double major in Math and Econ (and if you go to the school that I suspect you go to, this will be very difficult in and of itself) AND maintain a 3.8+ GPA, by all means go for doing both. But if you're rocking a 3.4 at the end of your four years, you'll have explaining to do during IBD interviews and you won't get into a top Econ program.
"tried to pull rank" on you? That's hilarious! I'm just glad you've had a grad micro course because you proved my point that basic math classes aren't enough. Or do you still claim otherwise?
I happen to know a bunch of econ grad students (this is not intended to "pull rank"--I expect you to know some, too) and most of them had majors in math or some closely related field like stats. This is not your average econ major, but it's the kind of students you're competing against if you want to get into a good program. Lin alg and calc can probably only get you a nice no-scholarship spot at NC State, which is great if you intend to waste five years of your life.
look, i'm not itching to get into a pissing match with you. what we can agree on is that it's a good idea to test yourself out with real math courses, but recognize that you can be sinking your IBD chances by hurting your GPA in case you don't do well, in which case both grad school and IBD are both endangered.
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