Quantitative economics definitely sounds more practical than just economics to me. People major in econ even if they do not intend to find a career in the field. In that sense, quantitative econ sounds more econ career related as well. At least to me. So what can I expect with the degree? (job, salary etc) and also compared to what a general econ major would expect?
I am actually considering trying to become an actuary. Is this the right major for that profession?
Also how does it compare with a finance major?
There’s really no way to predict the future. I don’t think quantitative economics sounds more “econ-related” than regular economics; and whether you have more quantitative coursework and/or different job prospects than another economics major at a different school really depends on 1) the economics curriculum there and 2) how much additional coursework they took. I’m looking at the economics major checklist/requirements at Tufts and really, the math classes required are the calculus sequence through multivariable calculus and linear algebra. That’s not terribly out of the ordinary for regular economics majors at many universities; many of them simply require those classes for all their economics majors (I’m fairly certain that Columbia requires cal 1&2 plus linear algebra for all econ majors, for example). Statistics is pretty standard, too. The difference may be a more quantitative approach towards macroeconomics and that intro to quant econ class, but some colleges may offer a quantitative orientation towards these classes without explicitly noting it in their course name or description.
So, in short, it’s hard to say how your chances compare to other econ majors. They’re probably about the same as econ majors at other top schools that are feeders/target schools for finance careers.
Quantitative skills are highly in demand, both generally and in economics/finance specifically. If you want to be an actuary, you probably can as long as you take the right kinds of classes. You may want to check out the Society of Actuaries website to find out what those are; there also may be an advisor at Tufts (either in the math department or in career services, or both) that can help guide you about which classes are necessary to get VEE and take the exams.
I can say that the base level math classes required by economics major may not be enough, as multivariable calculus and linear algebra are the basic introductory classes for a math major. At minimum, you should add two semesters in calculus-based statistics and probability (it looks like the major requirements might have one) and a class on stochastic processes. If Tufts offers business/finance classes, you’ll probably want to take some of those too.