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How bad is an Economics Degree

Anonymous Wed 28 Oct 17:19:00 2020 No.12282673 View Reply Original Report

Quoted By: >>12283086 >>12286202

Which is better?

Double major in Accounting and Economics with required math courses up to Real Analysis to get into a Data Science / Stats / Actuarial Masters program.

or

Transform current major into a minor and Speedrun an entire Math Degree to get my masters.

Anonymous

Anonymous Wed 28 Oct 2020 17:21:12 No.12282678 Report

Quoted By: >>12282718

if youve taken math through analysis youll be fine in a masters for any of those.

Anonymous

Anonymous Wed 28 Oct 2020 17:35:28 No.12282718 Report

Quoted By: >>12282725 >>12282770

>>12282678
But is Econ enough for a job?

Anonymous

Anonymous Wed 28 Oct 2020 17:37:56 No.12282725 Report

Quoted By:

>>12282718
in data science if I supplant the required knowledge.

Anonymous

Anonymous Wed 28 Oct 2020 17:58:12 No.12282770 Report

Quoted By: >>12282779 >>12284271

>>12282718
If you know accounting and some finance (corporate finance, valuation) you have a few possibilities: you can work in accounting at a company, you can do audit in a Big 4, you can try to do investment banking and eventually get into private equity or hedge funds, you can also try to become an Economist through a PhD or work at some public institution or research institutions (if you go to a good school). I think Econ + some real math + some Accounting/Finance is a good combo to be honest. You can learn some programming on the side if you want but honestly your prospects at the top of the field are just as good or better than in tech or data jobs...some of these jobs require long hours relative to what they pay though, but they open up a lot of possibilities if youre smart

Anonymous

Anonymous Wed 28 Oct 2020 18:00:48 No.12282779 Report

Quoted By: >>12282782 >>12284271

>>12282770
Full disclaimer I'm an Econ/finance guy who loves pure mathematics, has some programming knowledge (know some C, python and also some of algorithm complexity concepts from CS) but I hate computer programming and think its overrated (though clearly important in an increasingly automated society)

Anonymous

Anonymous Wed 28 Oct 2020 18:01:55 No.12282782 Report

Quoted By: >>12282789 >>12284271

>>12282779
I also think the whole data science hype is overrated....mostly because I dont like it....But I could be wrong

Anonymous

Anonymous Wed 28 Oct 2020 18:02:57 No.12282789 Report

Quoted By:

>>12282782
(The last 3 posts are all me, the same guy)

Anonymous

Anonymous Wed 28 Oct 2020 19:36:21 No.12283086 Report

Quoted By: >>12283435

>>12282673
Depends
What's the goal after the Masters?

Anonymous

Anonymous Wed 28 Oct 2020 21:04:32 No.12283435 Report

Quoted By:

>>12283086
Get any job that pays well and isn't at the risk of automation. Can range from computer to anything. Most likely will become a data scientist or a statistician.

Anonymous

Anonymous Thu 29 Oct 2020 00:08:52 No.12284271 Report

Quoted By: >>12284301

>>12282770
>>12282779
>>12282782
>>12282770
Are you sure that a stronger focus on Pure math isn't better.

Anonymous

Anonymous Thu 29 Oct 2020 00:18:57 No.12284301 Report

Quoted By: >>12284428

>>12284271
For the job market? Try to see what people who study pure math end up doing as jobs...i didnt do pure math as a degree (though my econ grad degree was pretty heavy on proofs) but as I understand, its not very practical. Maybe it can open you up the doors to becoming a quant...thats certainly something youd have a harder time doing with a basic Econ background. Im sure you can find a job both ways though

Anonymous

Anonymous Thu 29 Oct 2020 01:07:08 No.12284428 Report

Quoted By:

>>12284301
Loosely quant jobs come in two flavours:
1. PhD quants
2. MSc/BSc

People in category can study whatever they like be it physics or pure math because they have a PhD and can pick up any subject reasonably quickly so what they study isn't so important

In Category 2 you need a solid command of statistics and programming and so the degree you do doesn't matter so much unless you take copius amounts of stats and programming courses at which point you're not doing "Pure Math" anymore

Anonymous

Anonymous Thu 29 Oct 2020 06:20:03 No.12285152 Report

Quoted By: >>12285179

Economics isn't real.

Anonymous

Anonymous Thu 29 Oct 2020 06:36:03 No.12285179 Report

Quoted By:

>>12285152
The best economic policy is no economic policy

Noko

Noko Thu 29 Oct 2020 16:07:07 No.12286202 Report

Quoted By:

>>12282673
You don’t need a masters in actuarial sciences to become an actuary. Get a job as an actuarial analyst at an insurance company with your bachelors degree (in math, Econ, doesn’t really matter- one of the best actuaries I worked with was a theater major, albeit with a math minor).
The company will pay you decent wages (I think ~60k starting about 10 years ago) and you get paid study time, time off to take actuarial exams, and they cover the exam costs). You stay in the program as long as you pass most exams (it’s ok to fail a few) You get raises/bonuses each time you pass an exam and a big jump when you hit ACAS and an even bigger jump at FCAS. At the company I was at, actuaries in training had a 6-12 month rotations to the various actuarial roles in the company. This was nice because you could figure out if you liked rate making or hated reserving etc.

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