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Mathematical Finance: overlapping programs?

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  • Sehrlich@telocity.com
    Although a few American universities - for example, CMU and Princeton - have set up PhD programs in Mathematical Finance, most seem to have Masters programs
    Message 1 of 2 , Aug 25 10:59 AM
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      Although a few American universities - for example, CMU and
      Princeton - have set up PhD programs in Mathematical Finance, most
      seem to have Masters programs only. To get a PhD that focuses on
      math finance at most places, it seems you have to pick a department -
      and it's not always clear which one.

      For example, NYU has its Math Finance Masters housed within the
      Mathematics Department at Courant. Clearly, one could study
      mathematical finance within that department at the PhD level as
      well. However, the Statistics/OR department at the Stern Business
      School seems to be at least as viable a choice for a mathematical
      finance PhD.

      Columbia is interesting, too. They have *two* mathematical finance
      programs - one in the Math Department and one in the IEOR
      Department. Yet it seems that the Math Department's PhD program is
      not as well suited for specialization in finance as, say, the
      statistics department is.

      My questions are

      1. Does anyone know how to figure out which department to apply to
      when looking to study what is still considered a "cross-disciplinary"
      field? (Feel free to reference particular programs in particular
      universities.)

      2. Why do so many schools offer only a Masters' Degree when the job
      market seems to be thirsty for PhD's?

      Thanks!

      --------------------------------------

      Links to Programs:

      CMU PhD: http://www.math.cmu.edu/math/finance.html

      Princeton PhD: http://www.orfe.princeton.edu/graduate/phd.html

      NYU Masters: http://www.math.nyu.edu/financial_mathematics/
      NYU Courant PhD: http://www.math.nyu.edu/degree/guide/phd.html
      NYU Stern PhD: http://www.stern.nyu.edu/sor/doctor_philo.html

      Columbia Math MS:
      http://www.math.columbia.edu/department/masters_finance.shtml
      Columbia IEOR MS: http://www.ieor.columbia.edu/finance.html
      Columbia Stats: http://www.stat.columbia.edu/a_phdprog.html
    • bob maher
      Look at Finance departments within business schools. At Kellogg, both the Finance department, and my dept - MEDS (Managerial Economics and Decision Sciences)
      Message 2 of 2 , Aug 25 1:36 PM
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        Look at Finance departments within business schools. At Kellogg, both
        the Finance department, and my dept - MEDS (Managerial Economics and
        Decision Sciences) at extremely mathematical.

        No matter where you go for a PhD in Finance, it will be quite
        mathematical. In my first two years of coursework I had a bit of
        overlap with PhD's from the Math dept. (real analysis, probability in
        the Math dept, and Linear / Convex / Integer programming in my dept).

        I suspect that other top business schools are the same.

        Here, and at other universities, there are often overlapping
        departments within different schools. Here we have MEDS, within the
        business school, and the Department of Economics, within the College
        of Arts and Sciences. The overlapping faculty in publish in the same
        journals, go to the same conferences, etc.. The only significant
        difference is that one teaches MBA's, and one teaches undergrads. And
        the B-School profs make $30k more per year.

        Good luck,

        Bob Maher


        At 5:59 PM +0000 on 8/25/01 Sehrlich@... wrote:
        >Although a few American universities - for example, CMU and
        >Princeton - have set up PhD programs in Mathematical Finance, most
        >seem to have Masters programs only. To get a PhD that focuses on
        >math finance at most places, it seems you have to pick a department -
        >and it's not always clear which one.
        >
        >For example, NYU has its Math Finance Masters housed within the
        >Mathematics Department at Courant. Clearly, one could study
        >mathematical finance within that department at the PhD level as
        >well. However, the Statistics/OR department at the Stern Business
        >School seems to be at least as viable a choice for a mathematical
        >finance PhD.
        >
        >Columbia is interesting, too. They have *two* mathematical finance
        >programs - one in the Math Department and one in the IEOR
        >Department. Yet it seems that the Math Department's PhD program is
        >not as well suited for specialization in finance as, say, the
        >statistics department is.
        >
        >My questions are
        >
        >1. Does anyone know how to figure out which department to apply to
        >when looking to study what is still considered a "cross-disciplinary"
        >field? (Feel free to reference particular programs in particular
        >universities.)
        >
        >2. Why do so many schools offer only a Masters' Degree when the job
        >market seems to be thirsty for PhD's?
        >
        >Thanks!
        >
        >--------------------------------------
        >
        >Links to Programs:
        >
        >CMU PhD: http://www.math.cmu.edu/math/finance.html
        >
        >Princeton PhD: http://www.orfe.princeton.edu/graduate/phd.html
        >
        >NYU Masters: http://www.math.nyu.edu/financial_mathematics/
        >NYU Courant PhD: http://www.math.nyu.edu/degree/guide/phd.html
        >NYU Stern PhD: http://www.stern.nyu.edu/sor/doctor_philo.html
        >
        >Columbia Math MS:
        >http://www.math.columbia.edu/department/masters_finance.shtml
        >Columbia IEOR MS: http://www.ieor.columbia.edu/finance.html
        >Columbia Stats: http://www.stat.columbia.edu/a_phdprog.html
        >
        >
        >
        >
        >To unsubscribe from this group, send an email to:
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        >
        >
        >
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