Financial engineering doesn't change??

Financial engineering doesn't change??


Well in the sense of some of the principles, like most natural based sciences, it is not supposed to change from it's core base. 1+1=2. Sounds like a discipline with a base plan to me.

Every time there's a new advance in math, there's a new advance in FE. There were several new instruments created in the last 5 years.

Every time there's a new advance in math, there's a new advance in FE. There were several new instruments created in the last 5 years.


Really. I did not know that. Explain for me? And does it change the entire fundamental principles? 1+1=2?

1 + 1 = 2 doesn't really have much to do with financial engineering, not any more so than it has to do with any other discipline. But if it makes you feel better to pretend that you know what you're talking about rather than simply accepting that you don't, then so be it.

1 + 1 = 2 doesn't really have much to do with financial engineering, not any more so than it has to do with any other discipline. But if it makes you feel better to pretend that you know what you're talking about rather than simply accepting that you don't, then so be it.


Oh my Gawd. I am asking a serious question about your discipline, and all you can do is get personal. Jeesuz....

Ya see...it een me BI...It een me at all. LOL....

Relax Ting-um...I een inta you or anyone dat deep!
:shhh:

We've been through this already.

We've been through this already.


I don't know what you are talking about in particular; you mean your discipline? Is so, then refresh me.

Its not my discipline, my discipline is accounting/finance, dual bachelors and masters. I'm applying for doctoral programs. Financial engineering seems more appealing than the others. Most PhD programs that have a concentration in economics, finance, or accounting are basically the same program comprised of economic theory, statistics and probability. The only difference is maybe 12 out of the 90 credits needed to complete - not regarding the 39 hours for thesis. I don't see the point in earning a phd in economics when there's only going to be 4 classes that teach me something different than a finance or accounting focus would teach. I don't see the point in getting a finance phd for the same reason, plus completing the cfa charter is close to the same thing. I also don't see the need to earn a phd in accounting for the same reason again, plus earning the cpa is close to the same thing. So the only discipline that focuses on something new and interesting is financial engineering.

A quantitative analyst is a person who works in the financial markets developing mathematical models to assist the activities of traders and risk managers within banks and other large corporate institutions. Throughout the industry, such professionals are known as quants.

The disciplines of finance, mathematics, statistics and computer science are now linked. A corporation whose risk management policy compels it to lock in a foreign exchange rate must deal with a foreign currency derivatives trader. The trader bases his pricing and hedging decisions on the behavior of a Brownian motion, determined by statistical estimation of parameters and simulated under probabilities that differ from those of the real world, a simulation justified by the profound mathematical and financial dual ideas of change-of-measure and risk-neutral pricing.

This linkage has led to the creation of specialized Masters and PhD courses in mathematical finance, computational finance, and/or financial reinsurance. In particular, Masters degrees in financial engineering and financial analysis are becoming more popular with students and with employers. Carnegie Mellon's Tepper School of Business, which created the Masters degree in financial engineering, reported a 21% increase in applicants to their MS in Computational Finance program, which is on top of a 48% increase in the year before[2]. This surge in popularity has led other schools (the Massachusetts Institute of Technology, the University of California at Los Angeles, Rutgers University and the University of Minnesota) to add Masters level degrees. These Masters level programs are generally one year in length and more focused than the broader MBA degree.


Although the original "quants" were concerned with risk management and derivatives pricing, the meaning of the term has expanded over time to include those individuals involved in almost any application of mathematics in finance. An example is statistical arbitrage.


Here's some notes from some well known professors.

http://www.econphd.net/notes.htm

Actually, there's a lot of stuff on micro/macro economic theory, game theory and international trade that may interest you econ guys. I'm focusing more on the math, programming and econometrics.

Its not my discipline, my discipline is accounting/finance, dual bachelors and masters. I'm applying for doctoral programs. Financial engineering seems more appealing than the others. Most PhD programs that have a concentration in economics, finance, or accounting are basically the same program comprised of economic theory, statistics and probability. The only difference is maybe 12 out of the 90 credits needed to complete - not regarding the 39 hours for thesis. I don't see the point in earning a phd in economics when there's only going to be 4 classes that teach me something different than a finance or accounting focus would teach. I don't see the point in getting a finance phd for the same reason, plus completing the cfa charter is close to the same thing. I also don't see the need to earn a phd in accounting for the same reason again, plus earning the cpa is close to the same thing. So the only discipline that focuses on something new and interesting is financial engineering.
Here's some notes from some well known professors.
http://www.econphd.net/notes.htm
Actually, there's a lot of stuff on micro/macro economic theory, game theory and international trade that may interest you econ guys. I'm focusing more on the math, programming and econometrics.


Pretty neat stuff. Thanks!

So Phd huh....sounds good to me. I mean, people need to be challenged especially if they are academics at heart. You just want to see how far you can go!

Go for it.