<p>Hey, what do you think is the better major, finance or economics, for someone who wants to a) go to business school and b) go into trading/portfolio management as a career?</p>
<p>Definitely finance. But it you're going to Wharton, it doesn't even matter.</p>
<p>Finance will definitely be the better choice and it is the most highly recruited business major other than accounting from what I know.</p>
<p>Thanks for your replies guys. But is there any reason why a good amount of money managers I have looked into have degrees in economics? Also I've had people tell me that economics is for the more intelligent individual while finance is a very mechanical thing.</p>
<p>You cannot go wrong wiht economics + it is more versatile. I am very much a fan of the liberal arts degree while taking a few business specific classes. Besides, you will learn way more "business" at your first job in business than in 4 years of undergrad school.</p>
<p>Most money managers have economics degrees because they are very versatile and how should I say....unique thinkers? Some would even call them rogue...Just look at George Soros, he attended LSE and did econ.</p>
<p>George Soros' performance has more to do with his application of his philosophical ideas to speculation than to do with his understanding of typical economic theories.</p>
<p>^Yeah, but did he major in econ or not? Also, LSE is properly called the London School of Economics and Political Science so philosophy probably was a big part too.</p>
<p>He probably did although I can't remember the details. Philosophy was his biggest part. He spends considerable amount of time explaining his theories in his book Alchemy of Finance which draws considerable influence from the work of Karl Popper. Its been a while since I have read it but the basic notion is that the underlying itself is affected by the prevailing sentiment (which is different from the view that the prevailing sentiment is simply a view of the underlying).</p>
<p>Wt* mahras? This is getting too complicated lets talk about the market today or something...lmao</p>
<p>No worries its more simply explained in the book. Markets were okay today rather nice movements.</p>
<p>AAAAAAAAAAAAAAAAAAAAAAAAAHHHHH BRAIN OVERLOAD TRYIN TO COMPREHEND!!! WHAT IS UNDERLYING and PREVAILING STATEMENT!!! AAAAAAAH ( brain just exploded and is splattered all over the computer screen) lol</p>
<p>hrm why is it that fianance would be better for a trader then economics?</p>
<p>^Economics is much more general , I guess that's why?</p>
<p>I doubt there is a difference. You learn most of the stuff that actually makes money at work and in practice. If professors could make money they would be trading instead of teaching (of course there are a few exceptions Andrew Lo for example).
If someone wants to be more of a quantitative trader (which is most people in the business nowadays with the increase of automation and use of computers) then a working knowledge of programming would help as well as mathematics.</p>
<p>Whats a good minor for business majors?</p>
<p>Mathematics/sciences (bio, chem, phys)/computer science/statistics</p>
<p>uhh what if I dont like science math or engineering... </p>
<p>What about a business major minoring in </p>
<p>Economics?
Politics?
Psychology?
Sociology?
Historical Studies?
Crime and Justice Studies?</p>
<p>Well it depends on what you want to accomplish. Get a grounding on international business/trade? Get a grounding on quantitative tools?</p>
<p>Its all about what you want to do homie....</p>