申请专业：金融(适用MSF方向)
Finance is the lifeline of modern economy and if there is no finance globalization, there is no economy globalization. Finance globalization promoted to enlarge international finance market; multinational trade species and the scale, to make finance innovative appeared, strengthen international capital function and to play an important role on the resource distribution in the world. With the communication among nations increase and the technology information development, the development of finance tends to globalization. Finance globalization is the motor of economy globalization, finance and economy was one of the important factors for holding for the whole world, information, technology and other industry were developed on the base of finance and economy.
The economy strength of a nation decided its place in the world. In the future, the world finance market would present themselves with different styles; non-essential economy began to play an important role in the world, the development of information industry made finance market develop more quickly. Moreover, finance influenced largely on the daily life of common people and made common people more concern the development tendency of finance then before and made out the relevant reaction according to getting information from all aspects, for example, the change of inflation, stock and exchange rate etc. All that influenced common peoples (people’s) lives and economical programs.
I began to realize that finance in fact was the different (difference) between microcosmic and microeconomic and macroeconomic knowledge through my learning in the university, and it owned strong practice and was not abstract knowledge. For instance, currency banking, investment and international finance etc. all offered many cases and made me realize the meaning of finance. Then I knew that finance covered a wider scope and researcher needed strong academic background and ability on macro-control by practices and analysis of cases. For example, I acted as a leader of group, each group represents an enterprise and discussed whether open new produces instead of old produces, I told every member to answer for a part and consult materials, then we talked about them together and found some materials had superposition and didn’t have close logic, even each member had different emphasis and expressions which made me know cooperation was very important in a enterprise. So I held the second meeting to talk about these questions. I asked all members to look for materials relevant to this case respectively and then analyzed them together. During the process, we thought about them deeply and fully, finally we got a best scheme.
Through this experiment, I became lover finance major than before, because it not only brought me model and data but also interest on (in) connecting knowledge with practices to make data and model vivid. Even each new idea produced different result. Finance is not a material concept but is social science, which contains a wider scope. I am very glad to involving discovering unknown things in this field. Just like discussion, many members’ thoughts inspired me and we got satisfied results. Finance is a social science which embodied human being is the essential. We could cultivate our academic taste during the learning symposia and academic discussion process. In the practices we could cultivate intuition added combination with academic background and mathematic theory; we could understand finance better.
So I pay attention to connect theory and practices more than before, in my spare time I took part in social practices, for example I visited “international finance” of newspaper office and “Shanghai stock exchange”, besides I took part in planning for the “second finance year meeting” in Shanghai University of Finance and Economics. During the process, I met many finance people and got a chance for visiting Holland bank. Moreover I often consulted lots of finance journals and website materials etc. In order to connect theory with practices better, I carried on special researches on these problems.
For example, I began to research “RMB Globalization problem” and its aim was to review substantial economy and non-substantial economy how to influence currency international globalization from demonstration and theory angle to help us understand the experiences and lessons happened on the process of each national currency globalization and offered some feasible references for RMB international globalization. I connected the fact of our national economy development, especially, the base fact of RMB used by some nations around China, through researching the general rule of currency internationalization globalization, to discuss the problem on RMB international globalization process.
First, I reviewed the main countries’ currency globalization process in the world, and found that currency globalization must have two basic conditions. The first was rich economy strength; the second was to keep valuta long stabilization. Second, I pointed out RMB globalization was the necessity choice of our national economy persisting development and the benefit of currency globalization according to the impersonality requirement of economical globalization development, and RMB globalization would more enlarge the degree for opening to foreign.
At the same time I thought that stable, quickly developmental national economy and larger economical scope made RMB of our country globalization strengthens and higher ability against risk, the last part emphasized the process of RMB globalization and the research on keeping away from risk. The process of RMB internationalization was: first implement RMB regional strategy on the basis of East Asia currency cooperation and East Asian free trade, then implement RMB globalization stratagem under many perfect factors influence.
But during this process, it was very difficult for me to research non-substantiality economy in China. At present familiar to us, it was the stock market, while in China the stock market system did not very perfect and exist some problems on efficiency, security and fair. For example, I consulted many materials and knew several stages of Chinese stock issue, international paper department how to issue stock and the relative policy and system of stock market, then I asked my advisor how to comment on it and collected some comments of experts on the website. Besides I logged in MARKET WATCH and bought several stocks to do experiment to find out the conclusion that China it was more perfect, so Chinese stock market needed to be improved.
Finance is very important in all fields and no other field can exist with breaking away from finance, so the requirements for financer should be improved in the future. Above all, in the future society, the requirement for financer was higher than before, the talent only mastered profession will unfit the future society. Because in China there are limit resources for me and I am impressed by your esteemed university, so I decided to go abroad for my future education.
申请专业：数理金融
When asked why I like Mathematical Finance, I realized that it is all down to my personality. Being a composed, explicit person, I enjoy the challenge of questions with unequivocal answers. My character’s orderly side draws me enthusiastically towards neat solutions; my creativity gives rise to my acceptance of new ideas and my positive mind results in my wish to succeed. All questions have definite answers; we just need to construct ways of reaching them.
Now, I would like to pursue my higher studies for the want of further knowledge in the mathematical finance. Due to the advanced technology and higher standard of education at USA, I would like to apply for [学位名称] Degree in your prestigious University as I would like to be a big-man in the field of Mathematical Finance. I am quite confident of doing exceptionally well in my further studies. I believe that [申请课程] program in申请领域will provide me with a strong background for rapid professional advancement in Department of系名称in 大学名称University which attracts me with its famous faculty resources, advanced research areas, integrity in education and a free academic atmosphere.
I believe studying in 大学名称University will prepare me for a more extensive knowledge background, more advanced professional method and more reasonable ways of carrying out research in my future career Mathematics opened my mind to several new areas of algebra, sequences and series, and functions while Mathematical Finance broadened my horizon in fields of financial analysis, entrepreneur finance and micro-economics and others.
I keenly welcomed the new techniques and enjoyed all aspects of the course. In addition to retaining a strong interest in computers, my fascination for mathematical finance has grown. My decision to apply for the Mathematical Finance was gradually confirmed with the thirst grew to know more about the forces that could have such a significant impact of people’s day-to-day economic lives.
The reason why I am interested in Mathematic Finance also came from one of my uncle’s failure experience in option buying. It is often said that “experience is the best teacher”, but my uncle is a rookie who neglected the exercise issue of option, so he is out of money due to his missing in exercise schedule. My uncle is type of person who plays on a universal to “get something for nothing” and to “get rich quick". From that, I came to realize that a successful trader will always seek to improve the risk-reward characteristics of his position by looking for profit opportunities with the greatest possible margin for error. Since then I began to take notice of the trend in the development of financial products, in fact, the birth of option can be dated back to 1973 while option in this IT era has been a hot focus that attracted attentions.
During college, I read a lot of books related to the topics, especially in risks, I also attended some classes; these include Entrepreneur Financing, Exchange Basics and Foreign Exchange Trading. In courses of Entrepreneur Financing, I conducted a presentation upon HONEST TEA, a venture investing company, and I discussed in detail with my teammates about the risk and influence brought by RMB Exchange rate revaluation; in these discussion and analysis, I put what I learned in courses, including Foreign Exchange Fundamentals and Exchange Trading, to practice, and exerted an efficient effect. I am glad to say that other students in my team all major in Finance or MBA, in contact with them, I learned that the risk issue, especially risk avoidance has been a course that attracted my intense attention. The entire area of risk management is an extensive subject. I looked at over dozens of books and seminar notebooks. I learned the risk avoidance approaches and analytical procedures in the field of Mathematical Finance. As for me, the relationship between risk and return seems straight forward. In a process of case analyzing, I discovered that the risk and return move in the same direction, in other words, if one accept a higher risk, it is possible to achieve higher returns. It is amazing that high-risk investments invariably promise a high return.
I have also obtained an understanding of what it is like to be amongst a large group of people through working at CAS (China Academy of Science) Risk Financial Risk Management Lab. I particularly benefited from my financial analysis experiences at Wuliangye Group, Tsingdao Brewery and GreatWall Wine as they introduced me to many fields, such as Financial Analysis and Forecasting, Risk Avoidance, Trading, accountancy and exchange, and taught me to appreciate the evident need for teamwork.
In [时间] , I came to Wei Xianhua, the director of Reuters-Financial Risk Management Lab, at CAS, for the possible of attending his program of Financial Risk Management and Practice course, and then he agreed, and let me to assist him on analysis upon the IPO process of New Oriental Education & Technology Group Inc, from prospectus analysis to its Roadshow. Prior to the analysis, Mr. Wei introduced me a book entitled (Guide to the IPO Value Journey by The Ernst & Young). I used the calculation approaches in this book to conduct a P/E analysis (Price-Earning Ratio analysis) for New Oriental by dividing the company’s stock price by the company’s earning per share, or “EPS”, through calculation, it gives me an indication of how many times the stock buyers are paying for the company’s stock verse the company’s earning. Through analysis and calculation processes, I discovered that a company with a high (or large) P/E ratio is expensive verse a company with a low P/E ratio, since with a high P/E ration a buyer paying a larger multiple verse a company’s earnings.
In my opinion, as a would-be undergraduate who want to pursue education in the field of mathematical finance, it is very important to possess a solid knowledge of advanced mathematics, especially in normal differential eguation and matrix algebra. In college, I learned what is reinforcement learning algorithm and its application, I discovered that one of strength with Q-learning is that it is able to compare the expected utility of the available actions without requiring a model of environment. During the process, I also contacted with Stochastic Process, Monte Carlo method and NN (Neural Network), all of which benefit me not only in solving practical mathematical problems but also in opening my mind. Through my hardworking, I got excellent 91 points in Optimal Control Theory in end of semester.
A bachelor degree in Computer Science (Signal and Information Processing) has given me many transferable skills needed in Mathematical Finance. Worthy of notice is that Research on Reinforcement Learning Methods and Neural Network Algorithm, through which I contacted with much professional knowledge including Random Processes, Monte Carlo Method, and acquired a solid knowledge in the field Neutral Network. I used rreinforcement learning algorithms to find an approach for maximizing cumulative reward over the course of the problem. I am currently investigating a number of regions that appeal to me, which include [目前正在从事的领域活动]. For now, I intend to approach the future positively and have many exciting thoughts. I hope to encounter new opportunities, and rise to the challenge of [申请课程名称] program in your university!
Looking back on my academic career, it definitely taught me how to think for myself and make my own decisions. Success is not simply a matter of luck, I feel that my passion for mathematical finance makes me worthy of a place in your esteemed program, and I look forward to getting involved in both academic and social aspects of your university life.
申请专业：金融数学
Applied Program: Financial Mathematics
In the deepest recesses of my memories is the boulevard lined with Chinese parasol trees located outside my house. When I was just ten years old, my father put me at the back of his bicycle and rode me every weekend to attend English classes in the nearby community center (English was not part of elementary school education in China at that time). On this road of questing for my first western education, I, as a girl who loved to indulge in observations and meditations, kept an observant eye on the changing colors of the leaves all the year round. The rotation of seasons and the cyclical changes of the trees impressed me with the transitoriness of life and the urgency of making my life substantial within its transitory span. My present application for an advanced degree program at your esteemed university is by far the most important step in my relentless efforts to make my life substantial.
Dealing with figures has been our family tradition. As my mother is a statistician and my grandma a certified public account, as a teenager I had also commenced my observations and reflections on figures and calculations in the statements and reports that they had prepared with strong curiosity and interest. This interested strengthened my love for mathematics, often described as the “gymnastics of abstract thinking.” From elementary school to middle school, it was virtually a rule for me to achieve straight A’s in almost every course related to mathematics, a talent which has always made me feel proud of myself. Deep in my subconscious, I knew that a career related to mathematics would fit me most perfectly. Therefore, when I gained my undergraduate admission, I chose to specialize in Mathematics at Beijing Normal University. I believe that this specialty has provided me with a perfect arena to give vent to my passion for mathematics. My dedication to studies in mathematics and effective strategies of learning, plus voluminous readings of technical literature in various academic journals, have led to my top third ranking in my class and a number of major scholarships.
My greatest passion for learning mathematics was stimulated when I came to discover the foundational importance in social sciences, the essential function of mathematics behind its abstract concepts and number theories. When I first studied Advanced Mathematics, I was not clear about the real use of abstract mathematical theories. This kind of puzzlement lasted until I found that the genuine function of mathematics lied in its ability to solve problems in the real world objectively and scientifically, to develop human wisdom, to enable one to arrive at higher horizons and to examine problems with insights and discriminations. The courses that have particularly fascinated me most are Mathematical Analysis, Higher Geometry, Probability Theory, Mathematical Statistics, and Matrix Construction in Mathematics. Those courses allowed me to experience the charm of mathematics’ symbolic language and that of mathematical thinking, in addition to its omnipresent utility.
As an undergraduate, I am most proud of my experience of constructing the Social and Economic Growth Model as a team member representing our university during a mathematical modeling contest in Beijing. As our three-person team lacked the experience of applying theoretical knowledge to practical problems, we felt at an impasse in the face of the challenging task. I took some time to examine in detail all the mathematical models we had learned in class and proposed the idea of dividing the entire modeling into individual modules and piecing them together to form a complete model. Eventually our team was awarded second prize at this provincial contest. In retrospect, it is precisely this experience that aroused my serious interest in the application of mathematics in the realms of economics and finance. To further develop myself in this direction, I studied a lot of optional courses including macroeconomics, microeconomics, e-commerce, etc. Thenceforward, I developed a new objective—to combine my knowledge of mathematics with economics and finance and to exploit the function of mathematics in social life.
My undergraduate thesis, entitled Vector Quantity and Geometry, though purely theoretical in appearance, is actually a vivid description of how mathematical theories can be applied to reality. It focuses on precise analysis of those potential yet absolute relationships between different entities and how we can uncover and examine those relationships from mathematical perspectives. Rated by the department academic council as “Class A”, the thesis has been accepted by the editorial board of our departmental journal for publication.
Apart from cultivating my rigorous attitude for scientific research and developing my analytical and problem-solving abilities, I have taken an active part in extracurricular activities. With my strengths in mathematics, I passed a number of certification tests with much facility, including Microsoft Certified Professional, Microsoft Office-Use Specialist, and LOTUS 1-2-3. I have been correspondent and editor for our campus radio broadcasting station and campus website. My English proficiency qualified me as a volunteer working for the Beijing Worldwide Chinese Businessmen Meeting. In summer vacation, I worked part-time at a local accounting firm where I exercised my knowledge of mathematics and skills of electronic computation to establish for the firm a financial database. I also worked on preparing business accounting plans and digitalized financial management plans for the firm’s clients.
My experiences of social practices have permitted me to understand how mathematics can best be used. As far as I am concerned, my lack of advanced academic knowledge, especially my lack of in-depth understanding of economics and finance, and my lack of formal and systematic trainings in those fields, have constituted my “bottleneck” for further academic development. The overall situation in China is that there is an oversupply of theoretical mathematicians while applied mathematicians are sorely needed. Interdisciplinary subjects between mathematics and economics, such as financial mathematics, actuary science, economic engineering, and mathematical economics, are virtually nonexistent in China. The consequence is that China’s economic development will be seriously hampered for the lack of those important sciences. Great Britain plays a leading role in the world both in financial sciences and in education. Those two factors have motivated me to seek advanced studies there.
In this Personal Statement, I would like to indicate to you unequivocally my intention to specialize in financial mathematics, mathematical economics, or similar programs of an interdisciplinary nature. My choice is motivated by the consideration that in China virtually all financial professionals do not possess a strong background in mathematics, thus they rely heavily on foreign technical models and concepts. However, China’s economic conditions and models differ from those in Western countries and any unquestioning importation would be counterproductive. My plan is to probe into the possibility of developing some economic and financial models that best fit in with China’s circumstances based on a critical analysis of Western models and extensive practices. Projects in those areas will be what I am most concerned with and interested in.
London School of Economics and Politics is reputed for its time-honored history, respected for its distinctive status in economics and finance, along with its unparalleled research and pedagogical standards. Advanced educational concepts and methodologies there would undoubtedly broaden my vision and perspectives, enhance my fundamental skills in devising and launching large-scale cases. Most importantly, for a woman like me who has a penchant for English culture in general and English literature in particular, going to study in Britain will foster my spirit of independence the way Jane Eyre did. Nothing can delight me more than to observe and to experience, with heart and soul, the historical, cultural legacies of such a great country.
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