Any Economics majors out there? I'd love to get some info.

[ThatWasFat]

I'm considering changing my major to Economics. I like the idea that I would be learning about something important to the world, the country, and pretty much every aspect of life. Plus I find money and management pretty entertaining. If I changed majors, I would be taking Economics from Georgia Tech.

If you majored in Economics, what was it like? Was it a good experience? Did you learn things that actually apply? Did you get a job relatively easily? Whats the job market like? Lot's of people to compete with? Who do you work for? What do you do? Do you enjoy your job? If you want to answer this, what do you get paid?

Basically, I just want some information. I know alot more about Computer Engineering than I do Economics when it comes to majors, so I need some real world info to start making a decision on.

Thanks!

 

[PoPPeR]

well I can't speak with experience as I just started college a couple weeks ago, but I'm looking at a business/economics possible double major or minor and so a lot of my classes fulfill both. My macroeconomics teacher asked us in the beginning who was an economics major. She said a couple years ago, no one was and if you told people u were an economics major they laughed at you. Now that people look at our slumping economy more people are majoring in it. Hope that helps a little bit, but probably not

 

[Hector13]

Originally posted by: ThatWasFat
If you majored in Economics, what was it like? Was it a good experience? Did you learn things that actually apply? Did you get a job relatively easily? Whats the job market like? Lot's of people to compete with? Who do you work for? What do you do? Do you enjoy your job? If you want to answer this, what do you get paid?

I wasn't an econ major (I was an engineering major), but I work on wall st. and a lot of my coworkers are either econ or finance majors (mostly finance, actually, but some econ). If you are looking for a major that involves "money and management", I would consider business or finance over econ. But in any case, the job market for econ majors (or anyone else for that matter) is really tough, but there is stuff available (we have been trying to fill a few head count spots for the last year or so.

As for liking what I do, I love it. But the hours are bad (12 hours a day or so). Pay is good (starting analysts will make 65+k their first year), but living in NYC is f*cking expensive (my studio apartment's rent is 2k a month).

 

[ThatWasFat]

Hey thanks guys. That 12 hours a day thing sounds rough

Anyone out there actually major'd in Econ? I would like to know what you guys do. There isnt really a Finance major at GA Tech. Econ is my best bet.

 

[ElFenix]

economics isn't about money and management. thats accounting and management, respectively. and maybe finance. it is about efficiency of markets, how actors in markets react, and high level theoretical problems like, wtf is money anyway? you'll probably get some instruction on how the banking system works, how money moves through the economy, etc, but finance would be far better at explaining that. eco isn't to learn how to make money.

i'm now a law student, and i find myself agreeing with posner a lot.

 

[Orsorum]

I am a senior in economics at the Univ. of Washington. Looking at my interests now, a degree in accounting or finance would have been more conducive to my career goals. However, in terms of studying the fundamentals of the economy and human behavior, economics is an awesome foundation.

As a course for graduate study (and from what I can tell, it is extremely difficult to do much otherwise with just an undergraduate degree unless you're a genius or well-connected), I found I did not enjoy it (did some upper-level micro-macro courses), and that I did not find it as useful - I do not think I would have enjoyed a career as an economic analyst. There is a disconnect between graduate level economics and general applicability, unless you end up studying something like game theory, econometrics, or information theory, and in my opinion advanced study in those areas would be better served by a degree in statistics, mathematics or applied mathematics.

I just have a bit more studying to do before I can become employable (CPA license and law degree, here we come!), but I have found an area of study that I enjoy and I think that economics has served as an outstanding basis for my undergraduate career. If you're interested in it and you find it an intuitive way of viewing the world, go for it! I do not think you will regret it. If you have an interest in finance or accounting, however, I would consider econ as a second degree or a minor only.

 

[BigPoppa]

Hey man, i'm a freshmen at gatech! You might want to look into our Industrial Engineering major. Specialize in the financial area, thats the area i'm looking at. The ISyE dept here ranked #1 in USNews reports (not that rankings are everything, but you can't deny its a good program). If you want your economics fleshed out more, take some econ classes as your open electives.

 

[CanOWorms]

I've always heard that econ/investment type jobs are really dependent upon the name recognition of your university... I also thought that most Econ majors don't get jobs in Econ-related fields since there's so few of them? You may want to check up on that stuff!

 

[ElFenix]

i really hate the term econ. its eco damnit!

 

[Moemar]

I'm a double major in Aerospace Engineering and Econ. Econ's a very broad major, so you can get jobs in a lot of different fields. As far as getting jobs, I'll let you know in spring.

 

[paulee]

Originally posted by: ElFenix
i really hate the term econ. its eco damnit!

no really.. it's econ.. sheesh..

anyways, i got a job in the insurance industry with an econ degree from ucla.. not bad, not great..

 

[Doggiedog]

I went from mech e to econ.

I've been a technology stock analyst for the last 7 years.

When I first started working, employers liked the fact that I had a quant background which helped alot.

In my experience, I honestly don't see one specific type of major on Wall Street. I had 2 bosses that were engineers, 1 econ and 1 history. You see lots of English, MIS, history and journalism majors along with your traditional finance, accounting and econ grads. You will even regularly bump into MDs.

Edit: I forgot to mention you see lots of ex-lawyers too. Apparently they hate their work as lawyers so much, they want to at least get paid well and hate their jobs on WS.

 

[dquan97]

I have a BS in managerial economics from UCD in '01. Looking back, I'm glad that I took accounting classes after I graduated, because that gave me practical knowledge to match the theories and "how things should be" that I learned. Right now, I work for the gov't.

 

[Orsorum]

Originally posted by: ElFenix
i really hate the term econ. its eco damnit!

It's econ. Eco denotes ecology.

 

[Ns1]

if you're an econ major you teach or work for a news corp =P


econ has alot more to do with theory and such, what it sounds like you want to do is finance/business/management

 

[djplayx714]

im a mgmt major and im doin pretty well.

my friends that are econ majors used their degrees as stepping stones to get their MBAs and PHDs. I dont know of anyone that did relatively well on their own with just the BA though.

is this a Bus degree with a focus on Econ?

 

[Orsorum]

Originally posted by: djplayx714
im a mgmt major and im doin pretty well.

my friends that are econ majors used their degrees as stepping stones to get their MBAs and PHDs. I dont know of anyone that did relatively well on their own with just the BA though.

is this a Bus degree with a focus on Econ?

Yep. Using mine as a stepping stone to a LL.B. and a CPA license. w00t!

If I get bored much later in life and I have the time and money, I may go back and try for a graduate degree in econ, but that'd be for kicks.

 

[yoyo25]

Was not an econ major when I was at Tech, but check out the FAT guy, had him for the required econ classes, he is pretty good, even had his class taped so can check it out from the library if you missed a class.

 

My best friend just got his degree from University of Cincinnati this past school year, he is still looking. He has received a few offers in the lower 30's, he plans on going to law school at night to go after companies like Enron.....

 

[ElFenix]

Originally posted by: Orsorum

Originally posted by: ElFenix
i really hate the term econ. its eco damnit!

It's econ. Eco denotes ecology.

not at UT it didn't

 

[PlatinumGold]

i studied Econ, bachelors, masters, now i work in IT. go figure.

I never planned to work in the field tho. the career that tracks best with Econ majors is Actuarial stuff.

If you want to study something that will get you a job however, go accounting and get your CPA.

 

[Orsorum]

Originally posted by: ElFenix

Originally posted by: Orsorum

Originally posted by: ElFenix
i really hate the term econ. its eco damnit!

It's econ. Eco denotes ecology.

not at UT it didn't

Well, you people at UT are weeeird.

I better watch it, considering I may go to UT for law school.

 

[Doggiedog]

Originally posted by: PlatinumGold
i studied Econ, bachelors, masters, now i work in IT. go figure.

I never planned to work in the field tho. the career that tracks best with Econ majors is Actuarial stuff.

If you want to study something that will get you a job however, go accounting and get your CPA.

Wholeheartedly agree.

 

[CPA]

Originally posted by: Doggiedog

Originally posted by: PlatinumGold
i studied Econ, bachelors, masters, now i work in IT. go figure.

I never planned to work in the field tho. the career that tracks best with Econ majors is Actuarial stuff.

If you want to study something that will get you a job however, go accounting and get your CPA.

Wholeheartedly agree.

Another wholehearty agree.

Actuarials make very, very good money, demand is high, but work is very methodical, boring, tedious and difficult.

 

[LunarRay]

In business you'll need MBA

The best route is:

BS - Accounting (maybe sit for the CPA)
MBA - Finance (Sit for the CMA)

If you're still into the academia then DBA - International Finance and Economics (assumes you've retained the math skills needed for Economics)

Then if you're highly situated in an organization take the four year (part time) JD in Law (no need to sit for the BAR at this point)

I've found this to be the ideal track if you can afford it and have the time. I wish the JD could be had first because it teaches one to not only think through issues but be able to articulate them in writing. The DBA is an in depth overview and mainly opens other doors and lends credibility to one seeking international business opportunities.

Edit: I say maybe sit for the CPA because to actually get the state license you'd have to work for one of the 'Big Eight' or however many there are today for two years of Audit experience. You could work at the local Firm but you don't always get the required two years in two years.. more like 3 or 4.