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I'm a second year student, interested in financial mathematics, who's trying to plan out his degree path currently. There's a stochastic processes unit offered in year 3 and a stochastic calculus unit offered in year 4 (as an honours post-grad unit).

I was wondering if it is necessary for me to study stochastic calculus after I study stochastic processes. I was also wondering if someone could explain to me their differences and how often I will be using these skills in financial maths.

Thank you

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put on hold as off-topic by Pace Nielsen, user44191, Chris Godsil, LSpice, Dominic van der Zypen Jul 16 at 13:34

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  • "This question does not appear to be about research level mathematics within the scope defined in the help center." – Pace Nielsen, user44191, Chris Godsil, LSpice, Dominic van der Zypen
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In my opinion, based on my exposure in our department, maybe take both, if you have time, despite the considerable overlap in course material.

In Sto Calc, most of the applications will be towards finance and options pricing, while in stochastic processes, you'll find the applications to be towards more diverse areas, like in physics and bio.

If you want to be a quant eventually, doing both courses would be great for depth and breadth.

When you become unimaginably rich, I want 10% of your earnings, including your bonuses.

Thanks,

Robert Kiyosaki

Author of Rich Dad, Poor Dad

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