Advice for undergraduate students

There's an old saying: free advice is worth what you paid for it. There's something to that, and in any case you should make your own decisions. But we (meaning myself and several of my faculty colleagues) have put together a FAQ sheet giving you some things to think about as you plan your undergraduate career and beyond. None of this reflects official Stern or department policy, but we nevertheless believe it to be good advice.

NYU offers what you might call "the curse of choice": there are so many courses to choose from that it's hard to know where to start. We think you should take lots of things while you're here, expose yourself to a broad range of perspectives. But while you're doing that, leave some time to take courses that (i) have lasting value and (ii) develop skills that you can’t pick up yourself, either on the job or on your own. That’s the beauty of courses, they provide the structure for you to learn effectively.

We think quantitative courses would head the list. If you have a particular talent for math, you might want to take lots of them, but we think every student would benefit from taking a few. Developing your quantitative skills will increase your market value and prepare you for almost anything you might do in the future. If that doesn't persuade you, look at these links.

Q2. Quantitative course options

Here's a quick overview, but if you're interested in information about specific courses, take a look at our guide to quantitative courses and guide to other courses (both works in progress). If you you come up with good ideas on your own, please pass them on.

Mathematics. The Stern School requires one semester of calculus -- but we think you're capable of more than that. We recommend three semesters of calculus and one of linear algebra. (Or the equivalent: there are apparently some combination classes in the works.) They’re the foundation of economics, finance, and data analysis of all kinds. Once you’ve done that, you're well positioned to do lots of things. You might also consider doing more.

Programming and computer science. Everyone uses software in the modern world, but you have a huge advantage if you can do more than Excel. That said, it doesn’t matter as much what programming you do as long as you do some. If you like it, you can always do more. Two good places to start are Introduction to Computer Programming (CSCI-UA.0101, uses Python) and Numerical Analysis (MATH-UA.0252, uses Matlab). Stern may have its own programming courses in the near future, but does not at present.

Data analysis. The modern world generates data by the gigabyte. Whatever you do in the future, it will be extremely helpful to you to develop the skills to make sense of it: probability and statistics, data bases, data mining, and so on. Some people call the emerging area "data science," but whatever you call it, it involves marketable skills. See the guides mentioned above for specific courses.

Good question! See Q1 above: quantitative and data skills are invaluable in both fields -- and many more besides. It's no accident that they hire people with math and science backgrounds as well as business students. A business school education is a wonderful starting point, but business school + strong quant skills is an unbeatable combination.

Grading in math courses tends to be less forgiving than in less quantitative subjects. That's one of the reasons math is so helpful: you learn to think precisely and get clear feedback on whether you have done that.

Could this lower my GPA? Sure it could, although we find that many of our students do well in these courses. But even if your GPA falls a little, you're likely to expand your career options and raise your earning potential.

One last thing: It can be a mistake to take math courses that are too advanced -- and there are always math courses that are too advanced. Take a course that stretches you but doesn't kill you. Once you’ve done that, take another one.

You can learn a lot outside the classroom -- and usually have some fun doing it. NYU is loaded with active student clubs, but we're more familiar with faculty activities. You have access to 200+ faculty members at Stern and many more throughout the University. Many of them are happy to include students in their work. Whether your interests are economics, finance, marketing, social psychology, or something else, you should be able to find a faculty member with similar interests who could use help in research or course development. Some students find that their experiences in such projects are the highlights of their undergraduate careers.

We suggest you do the following:

• Skim the personal home pages of the faculty in a department that interests you.
• Note those whose work sounds interesting.
• Knock on their doors and ask if they could use help in any of their projects.
• If that doesn’t work, return to the previous step. Continue as needed.
• If you get discouraged, come see me. Or see Professor Foudy, who's right next door and knows many of you from the EGB course.

Lots of people have found work this way. Often you will have to start by working for free, but once you've established your value you may be able to get paid. But remember: the value here isn't the money, it's the experience.

There are also research opportunities outside NYU. Federal Reserve banks typically have both summer internships and full-time research positions for students who graduate. Fed jobs are an established route to success: students who do this for a couple years often move to good jobs in industry or apply to graduate school.

Q7. Should I take economics courses?

Q8. How does the economics concentration work?

I wish I knew! The place to start is your advisor. If that doesn't work to your satisfaction, my recommendation would be to speak to Professors Wachtel and Foudy.

Q9. What if I plan to go to graduate school in economics or finance?

Q10. Related questions about PhD programs

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(c) NYU Stern School of Business | Address comments to Dave Backus.

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