At some universities, Econ is under social sciences. At other universities it's within business school. Social science or more aligned with business?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:International macro (sometimes called international finance). I help lend money to countries.

Here is a list of the different fields: https://www.newyorkfed.org/medialibrary/media/education/MxE_01_%20Fields%20of%20Study%207.22.13.pdf

Thanks for the list. My son is a freshman economics major. My son is torn about what to do. If he stays economics (his school has a choice BA or BS in Economics or a BS in "Economics and Statistics", kind of a mix of the two) he will likely add a global policy minor. If he transfers to the business school. Maybe finance and another major? The school really pushes the double or dual major if in the business school.

Does he know what he might want to do?

He hasn't figure that out yet. He joined the behavioral economics club and a business fraternity. Hasn't been to a lot of the economics meetings because they conflict with the business fraternity meetings. Getting into the business fraternity was a big deal. It gave him an instant set of friends and "mentors", so he had to prioritize that. He knows if he majors in Economics, he will have to minor in something. His school makes it very easy to pick up minors and double majors and most kids do it. Just thankful that he is finding things to do. Will see what clubs he joins next semester.

Anonymous wrote:Can those who know the field provide some descriptions of what a Bachelor's or a Master's graduate would be doing in a job immediately out of undergrad or grad school?

Undergraduate degree? You’re mostly going off to work in Consulting, banking, etc. A few baby analysts get to work at economic research institutions.

Your kid should get to know advanced Excel formulas, Python and SQL.

Anonymous wrote:

Anonymous wrote:International macro (sometimes called international finance). I help lend money to countries.

Here is a list of the different fields: https://www.newyorkfed.org/medialibrary/media/education/MxE_01_%20Fields%20of%20Study%207.22.13.pdf

Thanks for the list. My son is a freshman economics major. My son is torn about what to do. If he stays economics (his school has a choice BA or BS in Economics or a BS in "Economics and Statistics", kind of a mix of the two) he will likely add a global policy minor. If he transfers to the business school. Maybe finance and another major? The school really pushes the double or dual major if in the business school.

Does he know what he might want to do?

I majored in Economics at UMD and worked at Morgan Stanley out of undergrad. I went back to get my MBA and now have a high-level role at a local tech company. I didn't want to gamble with the chance of not getting into the B-School in undergrad, so I settled on Economics. This was a little over 10 years ago, so it's still a viable path for a high-achieving student.

Anonymous wrote:Can those who know the field provide some descriptions of what a Bachelor's or a Master's graduate would be doing in a job immediately out of undergrad or grad school?

It’s a really wide field. Here are some possibilities but this list isn’t exhaustive:

-Kid is interested in finance/investing/making lots of money, majors in econ (and maybe double in finance or math), gets an IB analyst or PE job.

-Kid is really into econ, wants to go to grad school, hits the math classes hard and goes on to a PhD.

-Kid is really into econ but not good at math, goes to DC for a policy job and/or goes to grad school for a master’s in policy/IR/soft econ.

-Kid doesn’t care about econ, wants to signal that he is practical or business minded and ends up in a F500 management program. If really a top student he ends up in management consulting.

-Kid doesn’t care about econ but is kind of quanty and ends up as a data analyst.

-Kid decides halfway through that he wants to go to law school instead and does that.

Is a PhD necessary? Only if you want to go into professorship?

Micro, macro, and metrics. The first two use econometrics, the last one is closer to statistics or pure maths than econ. If you want to be an econometrician, take as much real analysis and graduate level probability/stats/metrics classes as you can.

If you want a PhD in any field of econ, you need a math major's worth of courses minus the abstract algebra. Hence, it can be advantageous to take a math major + grad level econ classes rather than an econ major + math electives. If you check out the appendix to Jehle and Reny microeconomics (a popular grad level micro book) it's basically a summary of real analysis.

Anonymous wrote:International macro (sometimes called international finance). I help lend money to countries.

Here is a list of the different fields: https://www.newyorkfed.org/medialibrary/media/education/MxE_01_%20Fields%20of%20Study%207.22.13.pdf

Thanks for the list. My son is a freshman economics major. My son is torn about what to do. If he stays economics (his school has a choice BA or BS in Economics or a BS in "Economics and Statistics", kind of a mix of the two) he will likely add a global policy minor. If he transfers to the business school. Maybe finance and another major? The school really pushes the double or dual major if in the business school.

Can those who know the field provide some descriptions of what a Bachelor's or a Master's graduate would be doing in a job immediately out of undergrad or grad school?

Development economics; work in international development, various specializations, e.g., private sector development, poverty reduction, and gender equality. An advanced degree would be beneficial.

International macro (sometimes called international finance). I help lend money to countries.

Here is a list of the different fields: https://www.newyorkfed.org/medialibrary/media/education/MxE_01_%20Fields%20of%20Study%207.22.13.pdf

There is micro and macro. Theory and applied (empirical).

Do you have educational or work experience in the field of economics? What do you do in your job? What are the various branches of economics? There's Labor, Econometrics. Etc. What else?