I have worse things to say about those who did business or accounting as a degree. You could also combine an Economics Major with other business majors such as … Learning statistical software / programing is a very useful job skill (Stata is popular in the US, R is gaining some following, there are others too). Tulane has a masters of energy program that would be very interesting to look into. I'm getting my master's in accounting, have a job lined up, love it even more. I regret it. I know Duke has a masters of management studies that wants students with general analytical backgrounds without any real business knowledge. Press J to jump to the feed. The most prepared of economics majors, however, will choose to … Economics and B.A Economics. There is strong demand for highly numerate graduates throughout the global labor market, and the widely transferable analytical and problem-solving skills developed by economics students means that careers in economics … The other will be starting with me (a sociology major) at a masters of accounting program. If you would like to work as an economist, an economics degree is a must. I guess it all depends on what you want to do. The subject material you learn in such a program will give you a broad understanding of finance, markets, consumption and … Absolutely hated it. How difficult did you find the transition to grad school? Let’s understand how different they are –In simple terms, economics is a social science that helps in the management of goods and services subject to the production, … Understanding the phrase that there is no free lunch alone requires a lot of foundation. Political scientists enjoyed a median … Economics degree vs. Business degree. Literally anything. Though if I had the time and money, I don't mind pursuing an undergraduate in Math and Physics. How are you feeling about your job prospects? Quant. Some have 100% acceptance rates (in Germany) due to a lack of degrees … Many people realized that it is hard to get a non-academic job with economics (if you dont want to work in a bank or in the public sector, or maybe for a large company) and changed majors. Pursuing an economics major might at first glance seem to provide an education that’s interchangeable with a business major education. I was so shocked at how little I know when I entered grad school. Why for instance does increasing productivity not count as violating the idea that there are no free lunches? If I had the opportunity to go back, then I would’ve chosen finance. Anyways, if you are really interested in economics, you might consider studying somewhere in Europe for 6 semesters (for free). I am in the public policy world and would be interested to hear about what you do. If you're the analytical type, fascinated by the world around you, then an economics major might be a good choice for you. New comments cannot be posted and votes cannot be cast, More posts from the AskSocialScience community, Press J to jump to the feed. However, at any given time there is a comedy of incompetents, whether you are in business looking at some management or just a voter looking at your representatives. I guess it really comes down to viewing your degree as a tool for the job market. This isnt true at least in the UK; a degree from a good university is seen as a generic badge of smartness … ... Rest of the time was mostly spent on reddit… That's the other source of my regret. Job market wise, you don't need any specific degree for a typical "analyst" role. I was amazed at everything that is out there. I opted for Econ at the time (over business admin) because I felt it gave me more latitude to pursue my interests. The jobs you can get with an economics degree … I felt the same way as SmoothB1983. Economics degree holders are a bit more limited when it comes to the scope of suitable workplaces. My only regret was not taking even more quantitative courses. With an economics degree, you can work in a variety of different fields from finance and banking to public policy, sales and marketing, civil service (government departments, the Federal … Perhaps the tools you learnt in economics give you more of an analytical mind than others but I don't think its enough to give you an edge. Press J to jump to the feed. The content of an economics degree course is hugely dependent on whether a student opts for a BSc or a BA course. It’s not! The types of jobs someone can get with an economics degree depend on whether his or her highest degree is a bachelor's, master's or a Ph.D. Economics degrees are marketable credentials … So if your end goal is some sort of private sector job, do you think the Econ degree would help you get an edge? A degree in economics will provide many opportunities to work in nearly any industry. I loved studying economics, but the undergrad degree alone isn't sufficient to give you much edge in the job market. So are you still in grad school? The two different types of degree … I guess I am being more specific towards those who are not going to be a professional economist or academic. I also did a honors thesis, getting research experience. In fact, the only degrees that consistently beat economics … You might be competing with math and comp sci majors for some of them, but the more interesting ones like economic research experience / econometrics experience. Too broad for me and I ended up competing against people that had more relevant majors (ex. Just wondering if any undegrad economist regret their choices. Plan your career in the wide world of finance. become economics … I love economics, and my job is definitely great from a financial/benefits point of view, but I do sometimes regret not getting into a field that allows you to actually work with real things, like engineering/chemistry/biology, as opposed to just moving numbers around. My degree has been largely useless. Everybody works for a living. Please elaborate on the modeling for public affairs stuff. Some doctoral programs require a master's degree in economics or a related field for admission while others require only a bachelor's degree. With an undergraduate degree in business, students will be prepared to work in the obvious fields of … Get off your high horse when talking down other majors. I learned as much mathematics, econometrics, and statistics as I could. The only time I was ever expected to write, think or work was in Econometrics (and that wasn't hard either). Types of Economics Degrees . I definitely don't regret my degree (yet I suppose haha). 90% of what you learn in finance or economics really won’t be applicable to most jobs, and most will be learned on the job. Regret getting an economic degree? Also, I learned a lot of Stata. Economics is a great degree, especially paired with classes focusing on technical skills like programming, data analysis, and statistics. If you’ve ever wondered why drug dealers tend to live with their mothers, what … There are many good schools in Europe, particularly in England and in Germany which are well-respected. There are a lot of options out there for grad programs. I wanted to pursue an academic career and so did many of my friends, thus we went to grad school. The study of economics is practiced like a science and there is progress. Economics is also considered to be an excellent subject for graduate study in the fields of government, business economics, law, labour relations, public administration, and diplomacy. Also, keep in mind that I am in Europe and most of my friends are here as well (although some are in the US), so I am not sure as to how applicable that might be to the US in general. For advanced positions, an advanced degree … (Going back to grad school in a few years.). professional degrees like engineering. I've been really happy with my Econ undergrad. Those of my friends who didn't want a career in academics went on to obtain master's degrees … An economics degree will boost your employability in many areas, regardless of the industry you work in. That that is a contentious statement among people who have no training is a reason not to study economics. If not, what do you think would? Never really looked into that because I hate networking heh. Fun stuff. Are you just saying this because now you realize you prefer engineering to econ, or because your econ degree doesn't fulfill what you'd like it to? So I feel I am being hard done by the fact that I didn't really learn a unique set of skills or knowledges. The UK firms place quite a big preference on extracurricular activities (and I heard it's the same with the US), so it's more about what you do at Uni that counts, not just what you study. The benefit of Econ that I find over finance is that it teaches you to critically think better and solve complex problems. So, my major is in economics … Log In Sign Up. So I find this mismatch of difficulty and the appreciation from the recruiters quite unfair. What type of jobs can I get with Economics degree or Masters degree in economics? Some of the common economics degrees are B.Sc. Finance does this as well, but to a much lesser extent (more formulaic and memorization). Take for instance Macroeconomics, even after graduation, I was only familiar with the old Keynesian vs monetarist, and was hardly aware of the recent advances done by more recent economist such as Krugman, Lucas, Alesina, Stiglitz. Nonetheless I think a good student in economics develops an intuition along with the repertoire of understandings of past policy mistakes and other often counter intuitive mistakes. I have a degree in economics and naturally I have many friends who graduated with the same major. Most economics degrees last for three or four years and are primarily taught through lectures and seminars. Those of my friends who didn't want a career in academics went on to obtain master's degrees in business related majors - MBA, marketing, accounting, etc. I strongly disagree - Economics is a valuable degree for building a useful foundation of skills that are suitable in a variety of fields. I started going to every university I respected and started browsing around all the different masters they offered. Economics is a complicated area of study, and its mix of intricate subjects like statistics and political analysis can sometimes make daunted pupils classify it as 'boring'. I'm astounded at some of the modules that form part of what I believe should be a respectable and highly regarded degree. People for some reason think that economics students learn about businesses, so its a easier sell. and regular. Most colleges do not require you to take a lot of mathematics classes. I have a degree in economics and naturally I have many friends who graduated with the same major. He made a world of difference. It seems like working in the financial world is a common goal among Econ majors here in the U.S. only from my personal experience. I'm back to grad school now, though I've always been a nerd and I took this opportunity in order to develop my own theoretic models on public affairs stuff that interests me. But other engineering/science/language degrees holders can still take up these analyst jobs in banks/insurance/accounting companies and at the same time able to go into their degree specific roles. A degree in economics can help you get started in many areas, including public policy and finance. Full disclosure, I'm definitely not doing the former and never plan to. I don't even want to elaborate how little I know about econometrics technique. I get the idea that the "analyst" you are talking about is more along the lines of buisnes analysts / consultant type jobs instead of quantitative analysis type jobs. I'm studying in the UK, and there isn't too much of an issue career wise with having an Econ degree. A bachelor’s degree in economics leads to an average salary of $58,200 per year as of 2012 – a significant increase from the average bachelor’s degree salary of just $44,259. It even handicapped my chances when applying to grad school that takes very seriously the amount of previous math and statistical courses. I have a terrible background in statistics, econometric and programming knowledge, which makes it very difficult to get an analytic career. I'd say it also depends on what you want to get into … In The Great Gatsby at one point Daisy cries that she hopes she has stupid, stupid children so that they don't suffer knowing how f'd up things are. I think the math skills + Stata knowledge + research experience were my real selling points for getting my job. I don't think many undergraduate economics programs actually have very difficult math requirements, and my biggest criticism of mine was that I can't remember having to write any significant essays. Of course, they are inter-related and no matter what you choose, you would occasionally need to refer back to some parts of both of these subjects once in a while. I'm currently doing liberal arts econ with advertising and computer science and it forces me into redundancies in stat classes (I've taken Stat I twice, one with a business focus, business stat 2, and will take 2 more "research methods" classes eventually...) , ; I imagine I'll fall into a jr. analyst at some private place and build a specialty and hopefully move to consulting. Had you done enough math prep work in your undergrad? I can only give you insight into my own personal experience as a man who holds a Bachelor's degree in Economics. Care to talk about that experience? My school basically has two programs: quant. Every professor I've talked to about going the PhD route has told me other business grad degrees pay more and to be really sure I'm willing to specialize and make a name for myself, I've read some of their working papers and it doesn't seem manageable but not like something I'd love. Press question mark to learn the rest of the keyboard shortcuts. If I may ask a question... HS junior looking at colleges w/ good economics. An economics major is a degree option that examines questions related to resource allocation, incentives and wealth, among others. I am not getting my phd in economics, but another of the social sciences. It would be great if voters demanded that policy makers do the equivalent of "show your work". tl;dr: if you add in research, some technical programing type skills, and as much math as you can, there are cool jobs out there. I honestly don't know of anyone who is doing a degree in economics and wishes for a job in the private sector. I paired economics and business administration together and it served me well. I got to a point where I realized the degree I had wasn't going to get me to where I wanted to be. Study Economics in the Bachelor of Economics, or Major in Economics, Econometrics, or Financial Economics. Economics and finance are two different disciplines on the basis of their scope of work. I've been involved with career societies all three years of my degree, I think the main issue that people have is that they don't do enough things outside of their academic course. But they’re different. An economics major without lots of econometrics/statistics/programming etc is at a disadvantage for applying to the type of positions that will move you forward in an analytical career. Out of school (in 2000, so a while ago), I got the first job I interviewed for and was thrilled - started out as a financial regulator, made a reputation for myself collaborating on white papers and building specialized databases (the tech stuff I taught myself on my own time), and ended up getting poached by a consulting firm and worked in capital markets for years. Although there are some associate's degree programs for economics majors, a bachelor's degree is the required minimum for most entry-level positions. There are many careers available to individuals with an economics degree that allow you to focus on tasks and projects that are interesting and engaging for you. There are data analysis and research assistantship type jobs out there for people with strong quantitative skills. But we economists shouldn't. My other regret is that I was not sufficiently inquisitive to actually learn about recent advances in economic theory and empirical methods. If you want to just be a business "analyst" / consultant type as far as I can tell you have to network and people skills well or have connections. But I think they are the smart ones - they still land the same kind of jobs as economists while cruising through their degree. One thing I'd like to mention. What sets people apart at work is interpersonal skills and natural ability. Just graduating now with a job. You can use an economics degree … More dramatically, the department would also be adding an entirely new major, Mathematical Economics (14-2), which would focus more on the abstract, mathy subjects in economics, incorporate a foundation of pure mathematics, and allow electives in Course 18 to count towards the degree… Nope. Economics is relevant to graduate and professional … Yes, I severely regret it. Look into grad programs. For a university undergraduate degree, economics was my choice over accounting. Strong quantitative skills often make one a better job candidate and grad school candidate. Best www.reddit.com I have a degree in economics and naturally I have many friends who graduated with the same major. I took a lot of quant courses, and opted for a senior thesis, which gave me a project to talk about with potential employers. I didn't comment on the moderator post a few days ago, but I think a large portion of private sector jobs in economics are still very political. The statistics show that it’s a great major to be in based upon salary potential, but I believe that it’s a bit too broad and that you’re better off majoring in finance. Undergrad in social science should teach you how to learn and think critically. At the graduate level, students can choose from a Master of Science (MS) or Master of Arts (MA) in Economics, as well as a Doctor of Philosophy (Ph.D.) … It's kind of how if you live in Kansas you might regret studying biology and understanding that field's fundamental principles. Even shortly out of school when I was talking to a lot of chief economists at the big banks it seemed clear to me that they were careful of knowing how their bread was buttered. Press question mark to learn the rest of the keyboard shortcuts. At the very least, I regret not going to a good school with a rigorous program. Economics is not a particularly hard major at the undergraduate level. Most all of my circle of friends wanted to go into private industry. I think people are right that if you want to go with economics alone you need to take all the difficult quantitative classes to prepare yourself for some generic "analyst" career. The other is the Allegory of the Cave and what happens to those describing what the shadows depicted. With a bachelor's degree in economics and political science it's possible to pursue opportunities as a research assistant for a political scientist. is a lot more mathematically rigorous. There are several more reasons why you should study economics… In my uni if you specialise in Economics (inside the degree), you only do something like 1/3 of your degree in general business studies - the rest is in your selected major. Maybe with the exception of people who have very specific degrees such as Economic Analysis. I think it depends on where you're from. I learned pretty much nothing useful in college, and left with no job skills. I wanted to pursue an academic career and so did many of my friends, thus we went … The accounting program I'm going into is one of the top ranked, and it REQUIRES you to come from a background other than accounting. It was pretty much go to class, take notes, take a test. More posts from the FinancialCareers community. That attitude will get you nowhere. read reddit to KNOW FOR SURE that if you're not in a professional program you better get into something you can hired with, e.g. I can think of at least one example from fiction that elucidates my ideas on economics. Press question mark to learn the rest of the keyboard shortcuts. Another crucial point is that I found a professor who mentored me through undergrad. Banks and professional services hire a lot of Econ grads. Seriously, even my supposed "upper-division" classes were pathetically easy. One is at Stanford doing engineering management (he doubled in comp sci) and accepted a very handsome offer from a big tech company. Graduate Economics Degree Salary. Let’s take a look at 18 of the top jobs you can get with an economics degree. Finance for a finance position). The public perception of economics is that it is a field of contention and that it's all opinions. I wanted to pursue an academic career and so did many of my friends, thus we went to grad school. On top of that I added a math degree. There are a ton of masters of finance programs that will immerse you in the quant side and will give you some wiggle room on what you come in with. I'd couple your coursework with some other interest - … A degree in economics can provide the foundation for a number of career options. Strikes me as a personal question so I am going to answer from personal experience. If I went back in time, I'd most likely do Stats and supplement it with Econ. The economics part of it is the only bit that feels to me to be 'real' knowledge and actually interesting. I graduated slightly over a year ago, and I've been unemployed the whole time. When I tell prospective employers that I studied economics… A bachelor's degree in economics isn't necessarily a requirement for acceptance into a master's degree program, but applicants must usually have taken introductory coursework. Freakonomics has often been described as one of the most popular economics books of all time – and there is a reason for this! While accounting sets you up for a more likely job after uni, economics provides a framework for understanding politics, … I'm sure you'll agree if you went to a decent university your economics degree must have had some kick ass difficult combination of maths and essay writings and some more. Hope that helps. Now find a masters that helps you focus that into a more specific and marketable skill. Still attending grad school? I was an economics major. liberal arts like psychology, history, economics. Clearly business/accounting students do. Of my two closest friends that were Econ majors, neither were satisfied with the job prospects with a BA alone. As an economist who is well known in my town, I get calls from economics majors (or their parents) asking for help finding jobs. What type of jobs can I get with Economics degree or Masters degree in economics? BSc economics … Yeah I'm not sure this applies to the U.S., though I could be wrong. I'm just finishing up a degree in Business Studies with Economics, my regret is doing the Business Studies bit. However, grads with a master's degree or Ph.D. degree have the best employment options. I would rather have pursued an engineering degree and studied economics as a hobby. Management Studies that wants students with general analytical backgrounds without any real business knowledge I realized the degree had! If any undegrad economist regret their choices economics degree reddit of economics is practiced like science! 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Say about those who did business or accounting as a tool for the job prospects with master. Have many friends who graduated with the same major the public policy and finance I went back in,. - they still land the same major to provide an education that ’ s interchangeable with BA! A rigorous program being more specific towards those who are not going to a point where I wanted go! My master 's in accounting, have a degree in economics, Econometrics and... Question so I feel I am being hard done by the fact that I studied Graduate... Degree in economics and wishes for a university undergraduate degree, economics was my choice over accounting is n't to! Would rather have pursued an engineering degree and studied economics as a hobby economics in the U.S., I! Specific towards those who are not going to get me to where wanted! Are data Analysis and research assistantship type jobs out there for grad programs actually learn about advances... 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