<p>I'm heading off to U. Nebraska next year, where I will be majoring in Economics. I'm curious to what it's like being an econ major. Is the coursework challenging, what material is being covered, are they happy they choose economics?</p>
<p>Thanks</p>
<p>I was an econ major as an undergrad. I loved it. I liked that it was unlike anything I'd had as a high school student, I liked that people assumed it was a challenging major, and I liked the way it framed problems. It was a nice combination of quantitative stuff and theoretical stuff--and majors generally had a choice in whether they wanted to lean more one way or another. </p>
<p>I feel it has served me well in life after college, too, although it drove me crazy the way everyone assumed I could give stock tips right after graduation. I still don't balance my checkbook. Although I loved the major, I confess I didn't feel like "an economist." I still don't, really, but when I got into an interdisciplinary grad program my advisor pointed out to me that my approach to problem-solving was influenced by my background in economics. I've since had several bosses who were economists and I see the similarities in how we tackle things. But I think it's the combination of quantitative and qualititative stuff that ended up being a great prep for work life.</p>
<p>My son is a sophomore at Swarthmore. He has changed his mind many times from majoring in Philosophy to Political Science to Economics but now plans to major in Econ and to do a Concentration in Public Policy as well. The two subjects are not exactly related but he's feeling his way around the social sciences and he thinks Public Policy is interesting and interdisciplinary using Economics as well as Political Science, Psychology etc.</p>
<p>Anyway, he finds Economics the most interesting of all the social sciences. He says it is grounded in the real world and gives people insight into capital markets, people's spending habits, how governments react to economic conditions, how Federal Reserve tries to reign in adverse conditions in the US economy and a whole slew of other things. He's taken quite a few courses in Econ so far even though he is just a sophomore with 1.5 years in college. It is a big field with many areas to concentrate in. Last semester, he had quite a challenging course load with 2 econ subjects at once.</p>
<p>The course work is challenging, quantitative as well as needs analysis skills. He has prepared himself a lot even before he decided on the major. He reads a lot of magazines that have economists contributing like the Economist, the WSJ etc. and he's been reading them since high school. I'd suggest you could do the same to get a feel for what economics is like.... and good luck with your choice, it is a wonderful and very interesting subject.</p>
<p>As hoedown pointed out, my son doesn't really know if he wants to be an economist by profession but I think it will stand him in good stead in many many career choices when he graduates and knows what he wants to do with his life. Right now, he certainly takes an economists point of view in arguments we have!</p>
<p>My son majored in Econ at UChicago. It was just the right major for him, both theoretically oriented and demanding in math and stats. He took a lot of polisci courses, too; and, of course, he completed "the core." He also spent a year abroad in London. He's made the most of his econ degree so far, uses stats and economic analysis almost every day in his work (originally as an economic consultant for a large international firm, now doing baseball statistics and writing about baseball for the leading baseball analysis group).</p>
<p>Studying Economics taught me how to think, to organize my thoughts and to assign values to the intangible. I learned to accept the concept of a range of acceptable answers instead of a singular yes or no. Applied economics became interesting to me and I focused on two study areas, the economics of the public sector and natural resource economics. I learned to approach the question, how would you create a cost benefit comparison of the advantages and disavantages of building a dam and blocking a river. As an environmentalist I was interested in what causes a government to make poor decisions; I wondered was the process wrong or corrupted? </p>
<p>Other students learn economic modeling, the impact of decisions on your decisions...not unlike a convoluted chess game. It is more than guns vs. butter decision making, but that is in there too! Good luck.</p>
<p>"I learned to approach the question, how would you create a cost benefit comparison of the advantages and disavantages of building a dam and blocking a river. As an environmentalist I was interested in what causes a government to make poor decisions; I wondered was the process wrong or corrupted?" </p>
<p>Woot, Mr. B, please tell us why some think New Orleans should be rebuilt! Will the decision to rebuild be poor or the the result of a wrong or corrupt process.</p>
<p>Could it be that, when it comes to politics, the only use for economics is when it is self-serving and accomodates the party line.</p>
<p>PS As far as the OP's questions, studying economics is fascinating. It provides a great foundation for many different careers. I do, however, consider it only a partial foundation and would make sure to complement it with a number of other classes -usually found in a liberal arts core curriculum. Economists without great analytical and communications skills are rather incomplete, and alas not so uncommon.</p>
<p>This is certainly a nice thread to pop up, seeing as how I was considering posting something similar. Thanks Kinglin.</p>
<p>Son, a Junior, is considering Econ as a major. Of course, he is only a Junior so a lot can change -- a lot already has. I've seen a few previous threads on good Econ programs, but the schools usually mentioned (Chicago, MIT, Claremont, etc.) would be huge reaches. What should he be looking for in an Econ department at solid but non-elite LACs (say Centre, Wofford, Furman, Roanoke, Rhodes) or small universities (Mary Washington, Elon, Winthrop)? Is it more a matter of finding a good overall fit first and foremost? Are there any things to definitely watch out for? Is AACSB accreditation, which is primarily for business, a good indicator? </p>
<p>Any thoughts would be greatly appreciated.</p>
<p>AACSB has little to do with econ although some smaller schools have both in one dept. It is a good indicator for business majors.</p>
<p>"Is it more a matter of finding a good overall fit first and foremost? Are there any things to definitely watch out for?"</p>
<p>Finding a good fit is probably the most important. After that, I would check the faculty size and recognition. Since Economics is popular major -just a bit less than majoring in business- I'd like to check the resources given to the department and see the trend. Is the department increasing or decreasing in size? Are their talks to land a specific chair? Are there possibilities to intern or work with professors on research? The best way to find about the department is to communicate directly with the teachers, after googling their name to find published papers or specialization.</p>
<p>Xiggi gives good advice here, try to find a faculty that is involved in some form of research that is relevant to your interests, whether it is small business economics, theory, or water resources... It is a good idea to approach education with questions in your mind...what is it you want to know.</p>
<p>xiggi - If I were king of the forest, and I think we can all take a collective sigh of relief that I am not, the rebuilding of New Orleans would create a modern city, built up and around public transportation, employment, shopping and schools. Green spaces that doubled as levees and holding ponds useful during excessive rain. The process is corrupt...we will re-establish vacation mansions on wet lands along the ocean with the help of federal tax dollars, I don't think New Orleans will ever be the same and that is not all bad.</p>
<p>Mr. B, more than probably, the issue that will remain unaddressed is the long term chances of survival of the entire region. Without a comprehensive package that includes the rerouting of the Mississippi towards its natural bed, the rebuilding of the natural protection areas, the city of New Orleans would be rebuilt on borrowed time. In less than 100 years, what is now the city of New Orleans will be an island floating 4-5 miles in the Guld of Mexico. Actually, it will be worse than an island since its center will be ten feet below sea level. </p>
<p>And rebuild is exactly what we will do by succumbing to the political pressure to rebuild, and avoiding the starker economic reality. The industrial future of the city should be rebuilt in a different area, and the ancillary residential needs should follow the jobs. This would leave the city depending from an elusive commercial success, akin to a mega Disneyland whose sole survival comes from the largesse of the other states. </p>
<p>Stated in the most simplistic way, there is absolutely no way to justify the expenses to rebuild the city as ... it was, and this does even account for the fact that the city should be rebuild with local resources and not become an even greater magnet for US welfare than it was. And, again that is exactly what we will do: we will probably spend money to trust an overwhelmed if not incompetent Corps of Engineers to rebuild levees that will again crumble at the next Category 3 hurricane and rebuild a city of "have a lot" next to the "have little." And, while WE may not witness the next cataclysm that will finally claim New Orleans for good, there is little doubt that it will happen in the lifetime of our children. </p>
<p>The price we will pay for our current shortsightness will be astronomical. And yet, we will end up doing what feels right instead of what is right.</p>
<p>How many cities can actually withstand the "worst case scenario"?. I'm all for hard headed economics but sometimes things are not purely economic decisions. Not drilling in ANWR was an uneconomic decision supported by many. We make these decisions all the time for many good reasons. So I have come around to the rebuild a smaller slightly improved NOLA and pray a little they stay lucky for another 100 years. In that time so many things will happen to make this decision unimportant in the future.</p>
<p>I'm already pretty much set on Nebraska for a few reasons. Nice campus, won't cost much to attend, economics majors are able to do a semester at Oxford (granted grades are decent), and Nebraska really promotes doing research with professors, in fact they pay you. I've already got some nice internships lined up at Scottrade and AG Edwards. I'm going to try and dual major in economics and finance.</p>
<p>kinglin, congratulations on thinking out your choice. I urge you to study with a variety of professors who have divergent approaches to economics so you can get a broad feel for the subject. One of my favorite economics courses was taught by two professors who debated their way through the course.</p>
<p>Xiggi and Barrons - New Orleans like many tragedies could have been viewed as an opportunity. Unfortunately, a lack of vision, thought and sense will just set us up for another disaster sooner than later. I would think in the least they could do is to require parking garages on the ground floor of rebuilt homes so living space would be elevated above flood zones. This is an accounting stance problem..The people writing the checks are not the people worrying about the future flood and storm problems.</p>
<p>I can't help but wonder what Disney's imagineers would do with the reconstruction. Maybe New Orleans should be rebuilt in Arizona near the London Bridge!</p>
<p>How does Stanford's undergrad economics program fair?</p>
<p>Kinglin, you may want to check the details of your semester at Oxford. I believe that your program is a 4 week summer program organized by Nebraska.</p>
<p>lderochi,</p>
<p>I went to a school very much like the ones you are describing. I really liked the professors, which was great, and I probably wouldn't have majored in econ if I didn't. But I didn't enter knowing my major (the college encouraged exploration anyway) so I wouldn't have known which faculty to check out before enrolling. It just worked out. In contrast, I really loved philosophy once I got there, and wanted to minor in it, but there was one prof whose brain and mine just worked differently. I could never quite grasp him (or he me) and in the end I couldn't complete the minor without taking more classes with him. So I fell 3 hours short. Not a tragedy, but it is important at a small school that you like the faculty in your department because it's not easy to avoid one if you don't click. That said, I could easily have majored in any of 3 or four other fields and been quite happy with the courses, the faculty, the preparation for life after college.</p>
<p>Nor, obviously, did I check research interests out. That wasn't a big issue for me; it wasn't in grad school, either, frankly. Maybe I'm malleable, but I knew my interests would be shaped by my education and I was willing to see what developed. It all worked out--I found people who were interested in what I became interested in.</p>
<p>I don't think some sort of business accreditation would be a signifier of quality. In fact, in a liberal arts school I might even question why they had it or sought it.</p>
<p>I think the strength of being an econ major at a small liberal arts college like the ones your son is looking at is that I did graduate well-rounded, with good writing skills, strong analytic skills, and a grounding in a lot of other fields. </p>
<p>I interviewed with a lot of corporate banks my senior year and I confessed to one HR person that I didn't feel like an economist or a banker. Were they really interested in me when I'd had one Money & Banking course and was a generalist? She said they didn't expect me to know banking; that's what the first year of training was about, so they could teach me what they wanted me to know. She said the key thing was that they knew I was smart, analytic, and knew how to learn. That was reassuring.</p>
<p>hoedown, my son is in the same situation you were when you were an undergrad and thanks for posting. He is feeling his way around like you did.....seems like a reasonable way to proceed. Your post is very reassuring..</p>
<p>Ditto. Thanks for the detailed post, hoedown.</p>