Describe the unique qualities that attract you to the specific undergraduate College or School (including preferred admission and dual degree programs) to which you are applying at the University of Michigan. How would that curriculum support your interests? (500 words max)
The Mathematics of Finance and Risk Management program appeals to me because it combines my love of mathematics and my interest in finance. My passion for math was sparked by playing with my Rubik’s cube as a child, as I wondered how to solve it in the fewest number of moves. The seemingly impossible task became easy once I understood the logical set of mathematical formulae behind it. The simple logic behind math, the concreteness, and the fact that there is always one right answer is what appeals to me. Over time, as I took financial accounting and microeconomics courses, my interest in finance stemmed from my love of math, as I discovered that finance is an application of math.
I can see myself at University of Michigan, researching under the guidance of Dr. Sergey Nadtochiy within the UROP program, expanding my interest in math and finance. I am particularly interested in his research constructing “Market-based Models” for derivative prices, because mark-to-market pricing of derivative products contributed to the 2008 economic downfall. I am also interested in Dr. Nadtochiy’s research in Optimal Investment approach, the favorable allocation of capital among available financial assets. Last year, my calculus teacher Dr. Kane had further inspired my passion for math with his enthusiasm and intriguing content. I was amazed by the analysis of different graphs and functions to understand characteristics of a mathematical relationship, and I seek to apply complex mathematical concepts in a real world market setting. As I was inspired by Dr. Kane, I know I will also be inspired by college professors, and I would be thrilled to research under Dr. Nadtochiy to learn about financial mathematics and investment strategies.
I am also interested in joining the Alternative Investments club to broaden my exposure to alternative asset classes involving hedge funds, private equity, real estate, through means of interactive competitions. I seek to learn how to keep my money safe and earn money through interest. Throughout high school, my finance interest grew as I shadowed the finance department at Verizon, fascinated by the analysis of numbers behind company’s projects to maximize its margins and profit. Some classes in this program stimulate my mind and inspire me to learn more about them. For example, the class Math 472 - Numerical Methods with Financial Applications shows the application of math to solve the financial problems.
As a student in the Mathematics of Finance and Risk Management program, I will be able to broaden my knowledge of financial mathematics in order to solve financial problems for individuals and companies using the highest applications of mathematics. But before that, I would have the opportunity to learn in a social environment where the campus is intertwined with the beautiful town of Ann Arbor, creating an atmosphere that would appeal to any college student. I dream of spending my weekdays in East Hall and going to Crisler Center on weekends watching Coach Beilein and the Wolverines take on any team.