Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Depends on the school.

Economics majors at the vast majority of universities is terrible. It's basically a major for students that cannot excel in any other subject and want something vaguely "technical" for jobs.

For schools with an undergrad business school that requires applying to get into, always go with Finance, and only Economics if Economics is also within the business school (i.e. at Wharton, not the liberal arts college at Penn). At these schools, Economics majors are basically kids who couldn't get into STEM or the business school.

At the Ivies without business schools, generally the Economics major is chosen by kids that would've otherwise done finance. But
even at Harvard and MIT, the Economics majors are relatively bad compared to other majors.

It's a cash cow program, basically.

Very bias view of the Ivies... really bad advice. Econ majors from Ivy League and top Liberal Arts colleges get first dibs at most undergraduate finance, tech and business jobs. They make a lot of $$$ and more than most finance majors coming out of undergrad business schools. Check out feeder schools and majors at Poets & Quants.

No they don't, Math/Physics/Engineering/CS majors get first dibs at finance jobs and Engineering/CS/Math/Physics grads get first dibs at tech jobs (why would Economics majors get looked at for tech jobs...?)

What is true is that many Math/Physics/Engineering/CS majors don't plan to work for Finance/Business, the firms hire the few who do and the rest falls to Econ grads, because students interested in finance/business do Econ in those schools.

The reason that Ivy Econ grads make more than Finance undergrad B-school grads is because of the Ivy branding, not the Econ degree. Ivy grads could do History and make as much doing management consulting

Depends on the applicant’s other qualities... if it’s I-banking, the first crack is going to go to the varsity athlete who majored in Econ or Government.

...That's entirely untrue. Why would Government majors be sought for investment banking? Unless its for government relations, or for management consulting jobs.

I-banking is not quantitatively challenging. But it values connections. It is also a slog that is made easier by having friends in the firm and a certain type of personality. Hence lots of ivy athletes.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Depends on the school.

Economics majors at the vast majority of universities is terrible. It's basically a major for students that cannot excel in any other subject and want something vaguely "technical" for jobs.

For schools with an undergrad business school that requires applying to get into, always go with Finance, and only Economics if Economics is also within the business school (i.e. at Wharton, not the liberal arts college at Penn). At these schools, Economics majors are basically kids who couldn't get into STEM or the business school.

At the Ivies without business schools, generally the Economics major is chosen by kids that would've otherwise done finance. But
even at Harvard and MIT, the Economics majors are relatively bad compared to other majors.

It's a cash cow program, basically.

Very bias view of the Ivies... really bad advice. Econ majors from Ivy League and top Liberal Arts colleges get first dibs at most undergraduate finance, tech and business jobs. They make a lot of $$$ and more than most finance majors coming out of undergrad business schools. Check out feeder schools and majors at Poets & Quants.

No they don't, Math/Physics/Engineering/CS majors get first dibs at finance jobs and Engineering/CS/Math/Physics grads get first dibs at tech jobs (why would Economics majors get looked at for tech jobs...?)

What is true is that many Math/Physics/Engineering/CS majors don't plan to work for Finance/Business, the firms hire the few who do and the rest falls to Econ grads, because students interested in finance/business do Econ in those schools.

The reason that Ivy Econ grads make more than Finance undergrad B-school grads is because of the Ivy branding, not the Econ degree. Ivy grads could do History and make as much doing management consulting

Depends on the applicant’s other qualities... if it’s I-banking, the first crack is going to go to the varsity athlete who majored in Econ or Government.

...That's entirely untrue. Why would Government majors be sought for investment banking? Unless its for government relations, or for management consulting jobs.

Because assuming they are at Harvard or similar, they would rather have a varsity athlete that did government for i-banking. It's not rocket science.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Depends on the school.

Economics majors at the vast majority of universities is terrible. It's basically a major for students that cannot excel in any other subject and want something vaguely "technical" for jobs.

For schools with an undergrad business school that requires applying to get into, always go with Finance, and only Economics if Economics is also within the business school (i.e. at Wharton, not the liberal arts college at Penn). At these schools, Economics majors are basically kids who couldn't get into STEM or the business school.

At the Ivies without business schools, generally the Economics major is chosen by kids that would've otherwise done finance. But
even at Harvard and MIT, the Economics majors are relatively bad compared to other majors.

It's a cash cow program, basically.

Very bias view of the Ivies... really bad advice. Econ majors from Ivy League and top Liberal Arts colleges get first dibs at most undergraduate finance, tech and business jobs. They make a lot of $$$ and more than most finance majors coming out of undergrad business schools. Check out feeder schools and majors at Poets & Quants.

No they don't, Math/Physics/Engineering/CS majors get first dibs at finance jobs and Engineering/CS/Math/Physics grads get first dibs at tech jobs (why would Economics majors get looked at for tech jobs...?)

What is true is that many Math/Physics/Engineering/CS majors don't plan to work for Finance/Business, the firms hire the few who do and the rest falls to Econ grads, because students interested in finance/business do Econ in those schools.

The reason that Ivy Econ grads make more than Finance undergrad B-school grads is because of the Ivy branding, not the Econ degree. Ivy grads could do History and make as much doing management consulting

Depends on the applicant’s other qualities... if it’s I-banking, the first crack is going to go to the varsity athlete who majored in Econ or Government.

...That's entirely untrue. Why would Government majors be sought for investment banking? Unless its for government relations, or for management consulting jobs.

Anonymous wrote:

Anonymous wrote:Economics is actually a very difficult degree at most colleges, so I am not sure where many of these posters are coming from. The easy path is the “business” or “management” type majors.

My Econ major kid has to take almost as much math as a math major in addition to all of the econ requirements...
Calc 1,2, and 3
Three semesters of statistics
Linear Algebra
2 semesters of Computer Programming

My kid is double majoring in epidemiology, so is also taking biostat and all of the requirements for that degree. Thinking about a career in health economics, but could go either way.

What school is this? The vast majority of schools don't require Calculus 3, Linear Algebra, computer programming or more than 1 semester of statistics. There are some 'top' schools that don't even require Calculus 2 for Econ majors.

Regardless, those courses are basic introductory courses for STEM majors, but would be considered above-and-beyond for an Econ major, which shows the kind of degree that Econ is.

Not pp, but Lehigh offers a BS in Econ in their school of arts and sciences and their school of business. The A & S one is much harder. It requires calc 1 and 2, econ stat 1 & 2, Linear Algebra, Econometrics, and a couple CS classes. The degree through their business school only requires one semester of calc, two of econ stat, no linear algebra, no programming, no econometrics.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If your kid is going to a school where the business school is a separate college, it matters. This usually applies to big state universities. At some schools Econ is in the college of arts and sciences, which is usually less selective than the undergrad business college (where finance) is. So it depends on your kid’s interests. I would investigate the differences between Econ and finance (as subjects, not employment prospects).

I’d argue you have it exactly backwards. The “real” economics majors, those who take high level math like multivariable calc, linear algebra, probability, econometrics, real analysis, generally are in A&S. It’s also much more difficult than the B-school variety of Econ.

Anyone can take those classes if they like, and they are definitely not required for an Econ major.

They are for a mathematical Econ major, which is the point of the distinction. Econ is a cake major. Math Econ is not.

What school? At mine it was a joint in Applied Math and Econ. You could also in a few cases do a combined BA and MA in Econ with extra courses and if your entered with enough APs.

Anonymous wrote:Law vs. MBA are pretty different long-term career paths. What is it about Econ that got your kid excited? That matters a lot to which school and major to pick. Not to mention, most kids change their minds at least somewhat after being exposed to a breadth of subjects in college.

I agree. I did both and in retrospect, see the difference in career paths and in what skill sets it takes to be a success in law vs. business. If the kid really wants a social science degree, and to not delve into heavy numbers, etc., then go econ. It's mainly theoretical stuff but has limited, different career paths outside of a PHd or Masters. Econ and policy work well together, and usually in larger urban cities or think tanks. Think DC based everything.

Finance gives you broader exposure to the corporation and entire corporate function. You crunch numbers, evaluate assets, can delve into investments and of course, lots of cross-over into accounting. Think spreadsheets, projections, budgets, reporting. That can be done at any company or organization. For specialty fields like banking, you have even greater options.

All depends on what the kid really wants and their talents.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If your kid is going to a school where the business school is a separate college, it matters. This usually applies to big state universities. At some schools Econ is in the college of arts and sciences, which is usually less selective than the undergrad business college (where finance) is. So it depends on your kid’s interests. I would investigate the differences between Econ and finance (as subjects, not employment prospects).

I’d argue you have it exactly backwards. The “real” economics majors, those who take high level math like multivariable calc, linear algebra, probability, econometrics, real analysis, generally are in A&S. It’s also much more difficult than the B-school variety of Econ.

Anyone can take those classes if they like, and they are definitely not required for an Econ major.

They are for a mathematical Econ major, which is the point of the distinction. Econ is a cake major. Math Econ is not.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Depends on the school.

Economics majors at the vast majority of universities is terrible. It's basically a major for students that cannot excel in any other subject and want something vaguely "technical" for jobs.

For schools with an undergrad business school that requires applying to get into, always go with Finance, and only Economics if Economics is also within the business school (i.e. at Wharton, not the liberal arts college at Penn). At these schools, Economics majors are basically kids who couldn't get into STEM or the business school.

At the Ivies without business schools, generally the Economics major is chosen by kids that would've otherwise done finance. But
even at Harvard and MIT, the Economics majors are relatively bad compared to other majors.

It's a cash cow program, basically.

Very bias view of the Ivies... really bad advice. Econ majors from Ivy League and top Liberal Arts colleges get first dibs at most undergraduate finance, tech and business jobs. They make a lot of $$$ and more than most finance majors coming out of undergrad business schools. Check out feeder schools and majors at Poets & Quants.

No they don't, Math/Physics/Engineering/CS majors get first dibs at finance jobs and Engineering/CS/Math/Physics grads get first dibs at tech jobs (why would Economics majors get looked at for tech jobs...?)

What is true is that many Math/Physics/Engineering/CS majors don't plan to work for Finance/Business, the firms hire the few who do and the rest falls to Econ grads, because students interested in finance/business do Econ in those schools.

The reason that Ivy Econ grads make more than Finance undergrad B-school grads is because of the Ivy branding, not the Econ degree. Ivy grads could do History and make as much doing management consulting

Depends on the applicant’s other qualities... if it’s I-banking, the first crack is going to go to the varsity athlete who majored in Econ or Government.

Anonymous wrote:

Anonymous wrote:If your kid is going to a school where the business school is a separate college, it matters. This usually applies to big state universities. At some schools Econ is in the college of arts and sciences, which is usually less selective than the undergrad business college (where finance) is. So it depends on your kid’s interests. I would investigate the differences between Econ and finance (as subjects, not employment prospects).

I’d argue you have it exactly backwards. The “real” economics majors, those who take high level math like multivariable calc, linear algebra, probability, econometrics, real analysis, generally are in A&S. It’s also much more difficult than the B-school variety of Econ.

Anyone can take those classes if they like, and they are definitely not required for an Econ major.

Anonymous wrote:Economics is actually a very difficult degree at most colleges, so I am not sure where many of these posters are coming from. The easy path is the “business” or “management” type majors.

My Econ major kid has to take almost as much math as a math major in addition to all of the econ requirements...
Calc 1,2, and 3
Three semesters of statistics
Linear Algebra
2 semesters of Computer Programming

My kid is double majoring in epidemiology, so is also taking biostat and all of the requirements for that degree. Thinking about a career in health economics, but could go either way.

What school is this? The vast majority of schools don't require Calculus 3, Linear Algebra, computer programming or more than 1 semester of statistics. There are some 'top' schools that don't even require Calculus 2 for Econ majors.

Regardless, those courses are basic introductory courses for STEM majors, but would be considered above-and-beyond for an Econ major, which shows the kind of degree that Econ is.

Anonymous wrote:

Anonymous wrote:If your kid is going to a school where the business school is a separate college, it matters. This usually applies to big state universities. At some schools Econ is in the college of arts and sciences, which is usually less selective than the undergrad business college (where finance) is. So it depends on your kid’s interests. I would investigate the differences between Econ and finance (as subjects, not employment prospects).

I’d argue you have it exactly backwards. The “real” economics majors, those who take high level math like multivariable calc, linear algebra, probability, econometrics, real analysis, generally are in A&S. It’s also much more difficult than the B-school variety of Econ.

A lot of the “real” Econ majors who have grad programs in their sights are double majors (often math, sometimes statistics). Some schools have an Applied Math and Econ major/combo. Some have a combined Bachelor’s and Master’s option.

Anonymous wrote:

Anonymous wrote:Depends on the school.

Economics majors at the vast majority of universities is terrible. It's basically a major for students that cannot excel in any other subject and want something vaguely "technical" for jobs.

For schools with an undergrad business school that requires applying to get into, always go with Finance, and only Economics if Economics is also within the business school (i.e. at Wharton, not the liberal arts college at Penn). At these schools, Economics majors are basically kids who couldn't get into STEM or the business school.

At the Ivies without business schools, generally the Economics major is chosen by kids that would've otherwise done finance. But
even at Harvard and MIT, the Economics majors are relatively bad compared to other majors.

It's a cash cow program, basically.

Very bias view of the Ivies... really bad advice. Econ majors from Ivy League and top Liberal Arts colleges get first dibs at most undergraduate finance, tech and business jobs. They make a lot of $$$ and more than most finance majors coming out of undergrad business schools. Check out feeder schools and majors at Poets & Quants.

No they don't, Math/Physics/Engineering/CS majors get first dibs at finance jobs and Engineering/CS/Math/Physics grads get first dibs at tech jobs (why would Economics majors get looked at for tech jobs...?)

What is true is that many Math/Physics/Engineering/CS majors don't plan to work for Finance/Business, the firms hire the few who do and the rest falls to Econ grads, because students interested in finance/business do Econ in those schools.

The reason that Ivy Econ grads make more than Finance undergrad B-school grads is because of the Ivy branding, not the Econ degree. Ivy grads could do History and make as much doing management consulting

Law vs. MBA are pretty different long-term career paths. What is it about Econ that got your kid excited? That matters a lot to which school and major to pick. Not to mention, most kids change their minds at least somewhat after being exposed to a breadth of subjects in college.

Also most sociology kids are intensely interested in the subject, rather than just choosing it cause it vaguely sounds like it makes money as Econ kids do.

Anonymous wrote:

Anonymous wrote:Depends on the school.

Economics majors at the vast majority of universities is terrible. It's basically a major for students that cannot excel in any other subject and want something vaguely "technical" for jobs.

For schools with an undergrad business school that requires applying to get into, always go with Finance, and only Economics if Economics is also within the business school (i.e. at Wharton, not the liberal arts college at Penn). At these schools, Economics majors are basically kids who couldn't get into STEM or the business school.

At the Ivies without business schools, generally the Economics major is chosen by kids that would've otherwise done finance. But
even at Harvard and MIT, the Economics majors are relatively bad compared to other majors.

It's a cash cow program, basically.

I agree with your points. But you could say the same about entrepreneurship, marketing, communications, and sociology majors (the easy sounding majors) but you’d be wrong. They get jobs. Not $$$ jobs, but jobs nonetheless.

I'm not talking about getting jobs necessarily, I'm talking about the quality of the average students - the students that your kid will be taking classes with. Many of whom don't want to do Econ and are doing it because they didn't make it in a STEM or business school.

And I disagree. Entrepreneurship and Marketing majors at schools like Berkeley, UVA, etc. need to get into the business school, which tends to mean maintaining a 3.7+ GPA and having a lot of leadership/extracurriculars. The majors may not be all that intellectually challenging (but still better than Econ) but those students are type A socially outgoing students - they have to be to pass the business school admissions filter.