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- 2014-3-12
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a bit comment on programming side:
1. VBA.
VBA is very very very important in practise, but it is easy to learn. From a science and engineering student point of view, it is too easy to be include in any course and been taguht formally.
Their student are expected to get their hand dirty, work on it through a few projects, and things should be done.
The biggest concern is indeed.......they wont realize this importance..
Only business school will really host course in this as business student are general not that good in foundation of programming logic.
(indeed quite many business have VBA included in finance, and claim it is quantitative by it.....what a joke is this)
2. SAS
SAS is....well very useful but just in some field as you said.
and thus I dont that it is a good idea to put it as a core, but just as a elective
and let those interested in these application choose them on their own view.
3. MATLAB and C++
MATLAB, and more for C++ really take times to practise. It will be quite horrible for an MFE student to start learning them through the master year, or just at the summer before the MFE.
well prepared candidate should have been using them (or at least one of them) for some semesters in their bachelor already.
some others part:
1. theoretical pricing in an MFE is not for preparing their student for model validation or theoritical development indeed.
those department likely require a PhD, or a really mathematical and solide applied/fina math master from a much topper school than fordham (and not business school)
the major reason of include those stochastic calculus stuffs into an MFE is to help students to under the proof, and the logic behind models better in subsequent courses.
2. a board coverage on pricing of various type of product (from equity to interest rate, and credit to IV surface), and various statistical method for risk measure is basically a must for any MFE.
and thus holds well for most top MFE indeed, no matter it is from business/math/stat department.
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