<p>Can you guys tell me about the different careers that Economics and Statistics opens up? Which one generally leads to more lucrative careers? Which one is looked upon more favorably for entry level jobs in the corporate world?</p>
<p>I have interests in working in the public sector, and also in Asia/China (at least for a few years after College). I'm also planning on studying Chinese and maybe do a minor in Asian studies as well. Would either major suit me better?</p>
<p>What graduate school paths do these 2 degrees set me on?</p>
<p>Statistics is a lot more mathematical and quantitative, obviously, and Econ isn’t that mathematical in the undergrad level. But Econ at the graduate school level is really quantitative, and a major like Statistics is good preparation if that’s what you want to do. </p>
<p>Stat might look more impressive to corporate employer, because it’s more rigorous than Econ, and on paper, Stat majors may look “smarter.” Also, Statistics may be more flexible, since it applies in so many different fields. </p>
<p>If you go the econ route, you can take more emphasis in the international econ courses that are in the degree plan. I’m double majoring in econ and stat.</p>
<p>Thanks a lot foreignrelations, I guess I really am looking for flexibility, because I’m not too sure yet on my career plans. I just know I have interests in Stats, Econ and Asia. I’m not sure if you know, but what would Asian/Chinese companies look at more favorably? Stats or Econ?</p>
<p>Also if I want to work in the public sector, can stats or econ get me there, or will I have to go back for a degree in like Public Policy or something like that?</p>
<p>I was an econ and stats major in college. Stats will give you more marketable skills, and both are very flexible. If you want to work in the public sector, however, I’d go with econ. Couldn’t tell you about what Asian companies would look for, though.</p>
<p>Thanks jaysorenson19. So overall, statss is more marketable, but econ is better for the public sector? So does that mean stats is better for the private/corporate sector?</p>
<p>Hey since both of you guys took Econ and Stats, which did you guys find yourself using more in your jobs?</p>
<p>Far less people have Statistics degrees, which should make it more in demand on a strictly supply and demand level. A Stats degree really a degree in Applied Mathematics.</p>
<p>I went to a large school. Within the past year there were 10x’s as many degrees in Economics awarded as there were degrees in Statistics.</p>
<p>However, most employers want a minimum of a Masters if you are doing anything with significant quantitative analysis on the corporate level. </p>
<p>There’s probably one small advantage for getting a degree in Economics: you run a better chance of the person sitting across from you in an interview actually knowing what getting a degree in Econ covers (I’m talking about the HR “recruiters”, “hiring managers”, etc). </p>
<p>I’m finding that I frequently have to explain to people what a degree in Statistics covers. I actually had a recent graduate from a decent undergrad business school ask me “What do you learn in Statistics, I know nothing about it?”. Pretty sad.</p>
<p>I found statistics far more useful in my job, but that’s because I’m an actuary, so that doesn’t really count. Overall though, statistics will give you skills you can use day-to-day in an analytical role, while economics really only teaches you a way of thinking about problems. The theories you learn in undergraduate economics are dumbed down so that students won’t get lost in the math, so you really don’t get the full picture of what they mean. As a result, most of the theories only hold in certain situations, which makes it much less applicable. The skills you learn in a stats major (especially things like SAS) will be far more useful in day-to-day work.</p>
<p>If stats degree= applied math degree , what is an applied stats degree, then? lol j/w because i’m planning to major in applied stats (well, the uni calls it stats, but it requires you to choose an emphasis and there are only 30 semester units in the core stats classes.)</p>
<p>I do not know about what jobs you could pursue with a statistics degree, but I certainly know there are many opportunities with an economics degree. On the career pages of several large private firms I have seen positions for “economic analysts” and the like. Since you are interested in opportunities in China and Asia I would suggest that you major in economics with a concentration in international economics.</p>