<p>Its seen as more of a science and tech focused university at least by the masses. Would it be worth it?</p>
<p>It is a great place to study economics. I've been told that in the Gourman Report (a ranking of undergraduate programs by department), MIT has the number one undergraduate economics program. The one famous alumni from MIT's undergraduate economics program I can think of off the top of my head is Lawrence Summers (former Treasury Secretary and former President of a certain unmentionable school).</p>
<p>The graduate program is especially prolific. The graduate program is ranked first in the nation, tied with the University of Chicago. A good portion (if not majority) of top economists have been at MIT. A few famous alumni from the Ph. D. program are Paul Krugman (Prof at Princeton), Ben Bernanke (chair of the Fed), N. Gregory Mankiw (Prof at Harvard), and Steven Levitt (Prof at UChicago and author of Freakonomics).</p>
<p>Eleven Nobel prize winners have been associated with MIT's economics department. Robert Solow and Paul Samuelson are Nobel prize winning emeritus professors at MIT who still hold offices at MIT. I don't feel like counting how many people associated with MIT have won the John Bates Clark Medal; just take my word that there are a lot. </p>
<p>A great aspect of coming to MIT for any program is the ability to participate in UROPs, or the Undergraduate Research Opportunities Program. Yes, there are research opportunities for undergraduates in economics, something unavailable at basically all other schools. Almost everyone who wants to do research in economics with a professor can.</p>
<p>cool! i wanna do that perhaps :]</p>
<p>Well, it's good if being the #1 ranked program in the country many years running is good enough for you..</p>
<p>UChicago is at least equal, if not slightly better, to MIT in terms of its economics program. And its heck at lot easier to get into UChicago than MIT (a good essay can get you into UChicago).</p>
<p>"Its seen as more of a science and tech focused university at least by the masses."</p>
<p>Economics is a science.</p>
<p>^ Economics is a social science. There is a big difference between social science and hard science such as physics or biology.</p>
<p>@friedrice</p>
<p>Completely true. But I have no doubt the "famous" alumni of MIT would disagree (e.g. Levitt, Samuelson, and Krugman) and believe that dynamic social interactions can be boiled down to econometric models.</p>
<p>(/end rant)</p>
<p>Yes, MIT is a good place to study economics. But I hope you realize the level of math involved in such a major. If you aren't getting straight A's in all your math courses now, I would not recommend such a major.</p>
<p>Sloan. 10char</p>
<p>Business is more practical whereas economics is more theoretical.</p>
<p>"There is a big difference between social science and hard science such as physics or biology."</p>
<p>Not really...sure the contents are vastly different, but they all require analytical problem solving skills. Economics at MIT is taught with a mathematical and analytical emphasis. I don't see how that's much different than the mindset you need for physics or math.</p>
<p>Well, that is the wrong approach. You can't model social interactions with math. But alas, that is how they do it. I'd personally call the modern approach pseudo-science, but by all looks of it, modern economics seems like a hard science.</p>
<p>Re: UChicago vs. MIT - it's really up to you whether you want a really liberal-arts based core vs. a science- and math-based core.</p>
<p>MIT MIT MIT! :] hehe</p>
<p>
[quote]
You can't model social interactions with math.
[/quote]
You can model anything with math, just not necessarily with any great accuracy or precision.</p>
<p>Uh, is this post a joke? MIT is probably the best economics program in the world, and has been for a long time. Whether or not one argues that economics is a science or something else, economics papers are these days a long string of equations typically. It is true there has been a merging of parts of microeconomics with increasingly rigorous looks at psychology...this was initiated at Berkeley and Princeton -- or at least they were big proponents. But no, one should not doubt MIT's prowess in the field.</p>
<p>You can model anything with math, just not necessarily with any great accuracy or precision.</p>
<p><3 Mollie</p>
<p>Why would it be a joke? I didn't know MIT"s ranking and wanted to hear something from people who have had experience in that major.</p>
<p>lolol 9854 don't you think you're playing this thread out a little too far?</p>
<p>i mean, OK haha funny joke you got us.. now let's move on to serious discussions kay?</p>
<p>
[quote=River Phoenix] <3 Mollie
[/quote]
;)</p>
<p>And happy birthday!</p>