Doing a Masters in Economics

pok3rplaya

Hi. I'm a final year Mechanical Engioneering student graduating this year. I'm considering doing a bunch of different things next year including a Masters in Economics in Trinity College (where I'm doing engineering atm). Is there anyone here who has done this course or any information general advice you could give me about being an engineer looking to get intop finance fields.

Thanks.

Time Magazine

I take it you're considering the M.Sc. course in Trinity?

pok3rplaya

Yeah thats the one.

shakeydude

I was looking into something similar myself, but I wanted to do something in environmental economics at the Imperial College, London. Sometimes banks etc take engineering graduates straight off the bat. You have to stay true to yourself no matter what

fobster

What area in finance are you aiming to get into? There are a few more appropriate courses available for making the switch from engineering to finance.

DCU have two one-year full-time courses, the M.Sc. in Finance and Capital Markets and the M.Sc. in Financial and Industrial Maths.

UCD have a two-year full-time course, the M.Sc. in Quantitative Finance. There's also the one-year MBS in Finance

Those are the courses I'm aware of, at the Smurfit School open day I was told that the MSc in Quant Finance in UCD has had its modules switched around a bit and is subject to change so it might not be as you see it on the website. Also financial maths in DCU would be the most technical of the lot with Quant Finance in UCD second, and based on what I've heard the MBS in UCD would be the least technical of the four, but still pretty technical in its own right.

Here's a few thread links that may help you.

http://www.askaboutmoney.com/showthread.php?t=54611

http://www.boards.ie/vbulletin/showthread.php?t=2055090726

Taking the economics course on its own, if you're aiming to become a trader for instance I know that game theory is a major tool used in developing trading strategies etc. and that is one area that would not be taught on the other courses mentioned above.

Three out of the four course I've linked to have two econometrics modules each, they would focus on cross-sectional and time series data but wouldn't deal with some areas covered in the Trinity course i.e. panel data.

Now in general if you want to move into finance by doing a masters in finance/economics any course that does not give you a solid grounding in derivative securities (options, futures etc.) and the methods used to price them is not a course I would recommend for making the transition into finance as this area is the major force driving the world of finance. I don't see any mention of them being taught on the masters in economics.

My advice to you would be to look at the other courses I've mentioned as they would be more suited for making the transition. Also I know the director of the MSc in Quant Finance was an engineer who also made the transition into finance maybe try and get in touch with him and see if he can offer you some more advice on making the transition, Dan Golden

Time Magazine

Excellent post, fobster.

From the people I know who've taken the course, they've found the maths a very hard slog. It was often theoretical and the only person who didn't struggle was a guy who studied pure Maths in Cambridge, and got a First. It's as geared to preparing you for life as an academic as much as it is geared into making you a professional.

The course director will be leaving Trinity this year but I don't imagine the course will change at all though.

Pythia

Personally I think you'd be better off doing a Masters in Finance than Econ if you want to get into the finance field.
But I would also look into applying now, with the Engineering degree.
I have just finished B.Sc Economics & Finance. I did all the maths options, got a first overall and have found it relatively easy to get the jobs I wanted.
I've decided on Risk Management in a bank.
They were very keen on the fact I am good at numerical/quantative fields and I think would have taken grads from non finance backgrounds too.
I also got a job offer for an actuarial consultancy firm in London and at the interviews there were Physics, Chemistry, Engineering, Economics, Stats graduates.
If I were you (if you haven't already done so), I'd try and narrow down what exactly it is you want to do before making decisions.

fobster

Pythia wrote:

I've decided on Risk Management in a bank.
They were very keen on the fact I am good at numerical/quantative fields and I think would have taken grads from non finance backgrounds too.

What kind of position did you get, market/credit risk etc.? I'm trying to get into either a risk management or treasury role myself.

Pythia

fobster wrote:

What kind of position did you get, market/credit risk etc.? I'm trying to get into either a risk management or treasury role myself.

Credit.
I think they're still looking for people.
PM me if you want the link.