Why you should major in Economics

<p>Amazing, i looked up the article where it said that econ majors have the highest lsat scores. I think that it’d be still useful to note that physics and math majors have very high lsat scores. Its just that not many people pick that major so they aren’t on the list of majors with more than 2200 students.
<a href=“People Web Server”>People Web Server;

<p>1 Physics/math 158.9<br>
2 Philosophy/religion 157.4
3 Economics 156.6</p>

<p>Hi, I’m planning to transfer to UCLA and was wondering if you could give me an analysis of the Business Econ to Econ program as far as str/weaknesses.</p>

<p>economics is awesome (especially microecon <3<3<3<3<3<3<3)</p>

<p>although berkeley and ucla dont require multivariable calculus and differentialequaitions/linear algebra, it is highly recommended that you take those classes. berkeley has 2 series of intermediate econs, the 100’s and the 101’s. The 101’s require the knowledge of multivariable calculus while the 100 only requires single-variable calculus. </p>

<p>I say, if you are an econ major, whether your school requires it or not, it is a must to take multivariable calculus. Not taking it will just be a hindrance to understanding concepts and theories. Math is just a tool in economics. You don’t need to love math in order to like economics (you just have to be … slightly good at it?) lol</p>

<p>I say, if you are an econ major, whether your school requires it or not, it is a must to take multivariable calculus. Not taking it will just be a hindrance to understanding concepts and theories. Math is just a tool in economics. You don’t need to love math in order to like economics (you just have to be … slightly good at it?) lol</p>

<p>I would say it is a MUST, but it definitely would never hurt to have a better grasp of calculus. If you plan on a masters or PhD in Econ though, then yeah you’re right. And you’re exactly right about math being just a tool in Econ. It should never be a determinant in your decision to major in Econ unless you are just really really bad at it.</p>

<p>Amazing, i looked up the article where it said that econ majors have the highest lsat scores. I think that it’d be still useful to note that physics and math majors have very high lsat scores.</p>

<p>As a small side note it would be useful to know that, but the amount of those majors actually taking the lsats are so small they are outliers and shouldn’t be considered.</p>

<p><a href="http://www..com/salary_by_major.php3%5B/url%5D">http://www..com/salary_by_major.php3</a></p>

<p>Zoology has an average starting salary of $242,202. This makes it the highest paid major… However, every publication always excludes this fact from their rankings because it is obviously an outlier and it would be dumb to think otherwise.</p>

<p>*alright, economists…</p>

<p>how will the fall of U.S capitalism affect the worlds economy? we know it will happen, just a matter of time…*</p>

<p>Uh, if US capitalism falls, then we’re all ****ed and the last thing you would be thinking about is what major you are. I’m going to start ignoring these posts about capitalism because I fear my IQ may start dropping by association.</p>

<p>*Amazing, if I’m aiming to go into Management Consulting specifically strategic/operational consulting. What would be the Pros & Cons of going to UCLA(Biz-Econ) and USC(Marshall)??</p>

<p>In terms of recruitment, practically, networking, and how one program would better me for consulting.*</p>

<p>“A bachelor’s degree is sufficient for many entry-level government jobs; many positions in private industry require a master’s degree, specialized expertise, or both.”
*[Management</a> Analysts](<a href=“http://www.bls.gov/oco/ocos019.htm]Management”>http://www.bls.gov/oco/ocos019.htm)</p>

<p>This makes sense because a Management Consultant is a very high level job and you will often find those people with an MBA or many many years of experience. If you consider this, then you should assume that you will be going to MBA school at some point in time anyways. And so for MBA school, this would be along the lines of “Should I major in Biology or Chemistry for med school?” Neither would directly give you an edge in MBA work anyways.</p>

<p>And as for the latter question, recruitment is the same for both considering we’re only 10 miles apart in LA… Marshall is more vocational so probably more practical. USC has a better alumni network. And for the most important question; what would prepare you better for consulting? Neither.</p>

<p>Proof?</p>

<p>“many fields of study provide a suitable educational background for this occupation because of the wide range of areas addressed by management analysts. Common fields of study include business, management, accounting, marketing, economics, statistics, computer and information science, or engineering.”
*[Management</a> Analysts](<a href=“http://www.bls.gov/oco/ocos019.htm]Management”>http://www.bls.gov/oco/ocos019.htm)</p>

<p>amazing how much calculus does you really use in econ</p>

<p>You will have to use it no matter what, mostly just derivatives. This varies wildly from professor to professor, depending on how mathematical they treat it. Remember that there was no math involved in the Wealth of Nations by Adam Smith, which is the founding of Economics as a study. Math is a tool that has been added over the years to help us understand it.</p>

<p>What’s more important than understanding calculus is understanding graphs. Calc is just used to find points and areas on graphs/models. Graphs are the heart of math in Econ.</p>

<p>ECONOMICS AND MBA</p>

<p>So I’ve already proven that Econ majors get paid 2nd highest in starting salary, highest in mid-career salary, are 2nd most desired by CEOs and employers, score highest on LSATs, get paid more as lawyers, get paid more as professors, have a greater likelihood of becoming CEO, and hmm… have I missed anything?</p>

<p>Oh yeah, MBA school. Econ majors are better than Business majors at that too. Lets take a look at the GMAT required for MBA schools.</p>

<p>“The average score of economics majors on the Graduate Management Admissions Tests exceeds those of nearly all humanities and arts, social science and business undergraduate majors but not those of most natural sciences, engineering and mathematics majors.”</p>

<p>*[GMAT</a> Scores of Undergraduate Economics Majors](<a href=“http://www.indiana.edu/~econed/issues/v39_3/7.htm]GMAT”>Department of Economics: Indiana University Bloomington)
*[SSRN-Econ</a> Majors Score Well on the GMAT Too! by Terry D. Monson, Paul Nelson](<a href=“http://papers.ssrn.com/sol3/papers.cfm?abstract_id=960088]SSRN-Econ”>http://papers.ssrn.com/sol3/papers.cfm?abstract_id=960088)</p>

<p>So yeah, Econ majors do well on the GMATs too.</p>

<p>Funny side note:</p>

<p>The rapper Young MC, famous for “Bust A Move” in 1989, has a degree in Economics from USC. So for those disappointed that Rapping is not a major offered by most universities, there is hope.</p>

<p>“After graduating from high school, Young moved to the opposite coast at the age of 18 to study economics at the University of Southern California. It was here that he made contact with Matt Dike and Michael Ross, co-founders of the hip-hop label Delicious Vinyl; with his Bachelor’s in economics completed, the aspiring musician successfully auditioned for the label over the phone, rapping his song My Name Is Young.”
[Young</a> MC](<a href=“http://www.nndb.com/people/719/000026641/]Young”>Young MC)</p>

<p>“As a small side note it would be useful to know that, but the amount of those majors actually taking the lsats are so small they are outliers and shouldn’t be considered.”</p>

<p>i would hardly call a difference in lsat scores by 3 points an outlier when the standard deviation is 7 points. Also, 700 people in that major is a pretty decent sample size. An outlier would be if there was only 1 math/physics major and he/she score 175 and the set the mean for math/physics to 175. philosophy/religion majors scored higher as well and they had 2410 students taking the test. I find it odd that they left out philosophy/religion in the table with majors that had at least 2200 students taking the test when they clearly state that philosophy/religion had 2410 students taking the LSAT.</p>

<p><a href=“http://en.wikipedia.org/wiki/Outliers[/url]”>http://en.wikipedia.org/wiki/Outliers&lt;/a&gt;&lt;/p&gt;

<p>

</p>

<p>I think you’ve missed the fact that you haven’t proven anything by citing some random source or two, especially when they contradict what you’ve “proven”.</p>

<p>“Econ majors get paid 2nd highest in starting salary, highest in mid-career salary”</p>

<p>From one of YOUR sources:
[Best</a> Undergrad College Degrees By Salary](<a href=“2024 College Rankings by Salary Potential | Payscale”>2024 College Rankings by Salary Potential | Payscale)</p>

<p>Best Undergrad College Degrees By Salary - Full List
BEST UNDERGRAD COLLEGE DEGREES BY SALARY STARTING MEDIAN SALARY MID-CAREER MEDIAN SALARY
Chemical Engineering $63,200 $107,000
Computer Engineering $61,400 $105,000
Electrical Engineering $60,900 $103,000
Aerospace Engineering $57,700 $101,000
Economics $50,100 $98,600
Physics $50,300 $97,300
Computer Science $55,900 $95,500
Industrial Engineering $57,700 $94,700
Mechanical Engineering $57,900 $93,600
Physician Assistant $74,300 $91,700
Civil Engineering $53,900 $90,500
Construction $53,700 $88,900
Nursing $54,200</p>

<p>According to your source econ majors have like 15th highest starting salary and 5th highest mid-career salary, ignoring the fact that citing a source like this as evidence is laughable.</p>

<p>I think you’ve missed the fact that you haven’t proven anything by citing some random source or two, especially when they contradict what you’ve “proven”.</p>

<p>You realize that I’ve been lumping Engineering into one major the entire time right? I’ve been consistently saying that Econ is 2nd behind Engineering, and that encompasses many different types of Engineering duh.</p>

<p>ignoring the fact that citing a source like this as evidence is laughable.</p>

<p>Hmmm citing a source like this is laughable?..</p>

<p>“To gauge the most lucrative majors, we turned to PayScale.com, which collects real-time salary information from 10 million users. They looked at 20 popular majors where most of the graduates go into the private sector; thus, some popular majors, like education and social work, were excluded.”
[Most</a> Lucrative College Majors - Forbes.com](<a href=“http://www.forbes.com/2008/06/18/college-majors-lucrative-lead-cx_kb_0618majors.html]Most”>Most Lucrative College Majors)</p>

<p>How about you give Forbes a call and tell them they are wrong.</p>

<p>Oh yeah, also since you don’t think Forbes is a credible source…</p>

<p>"*6. Economics/Finance</p>

<p>Average starting salary: $49,794*"
[College</a> Degrees in Most Demand: 2009 - Slideshows - CNBC.com](<a href=“College Degrees in Most Demand: 2009”>College Degrees in Most Demand: 2009)</p>

<p>“Economics - $52,926
[Best</a> entry-level salaries for new grads - CNN.com](<a href=“http://www.cnn.com/2008/LIVING/worklife/04/28/cb.salaries.grads/index.html]Best”>Best entry-level salaries for new grads - CNN.com)</p>

<p>Give CNBC and CNN a call while you’re at it. They all put Econ on their top lists, so they obviously don’t know ****.</p>

<p>Oh yeah, while you’re at it trying to debate my sources…</p>

<p>*
"6. Economics</p>

<pre><code>* Average Starting Salary: $47,782
</code></pre>

<p>Starting salary information courtesy of the National Association of Colleges and Employers’ (NACE) most recent Salary Survey.*"
<a href=“http://education-portal.com/articles/Top_10_Paying_College_Majors.html[/url]”>http://education-portal.com/articles/Top_10_Paying_College_Majors.html&lt;/a&gt;&lt;/p&gt;

<p>Give the National Association of Colleges and Employers’ a call too.</p>

<p>Beyond disputing your sources, I’m pointing out your inconsistency. Even if you lump engineering together in your source econ comes in 6th highest starting. It’s no big deal if you weren’t “proving” the fact its second highest. I don’t see why you’re pointing out the cnn source either; it just proves you were citing an incorrect source to begin with then.</p>

<p>Amazing,</p>

<p>Biz Econ verus Econ at UCLA!</p>

<p>Str/Weakness of each?</p>

<p>Bizecon at ucla is exactly the same as econ but with accounting classes.</p>

<p>^^^</p>

<p>whatasunnyday, JetForce is exactly right on that.</p>

<p>For UCLA,</p>

<p>Econ: only econ classes, a lot of freedom to take other classes
Bus Econ: econ + accounting classes
Math/Econ: more like math + econ classes
Econ Int Area/Studies: econ + foreign language + classes relating to that country</p>

<p>There’s really nothing to say about strengths and weaknesses of each besides the obvious. Like say you wanna be an accountant/cpa, then you’re gonna have to be Bus Econ.</p>

<p>Edit: I guess if I really had to say, I switched from Bus Econ to the pure Econ major because I had no plans to go into accounting. I would argue that it’s given me 2 strengths:</p>

<ol>
<li>Less requirements means I can take more classes relevant for me. For example, I’m taking a Project Management class right now, since that’s where I wanna go. Not to say that you can’t do this with the other econ majors, but it is much more difficult to fit it into your schedule when you already have a lot to do.</li>
<li>Less requirements means I can artificially inflate my GPA with other north campus classes. If you can hang with competitive Econ classes, other social sciences become like GPA buffers for you. This is important considering your UC GPA starts off at 0.0.</li>
</ol>

<p>why should you major in econ?</p>

<p>what else can you do with anything else besides engineering or econ?</p>

<p>^^^</p>

<p>Considering your post in the other thread, you’re just ■■■■■■■■ so I’ll ignore that.</p>

<p>Great post. Do you have an opinion as to whether or not Econ classes become easier once upper division classes come? I am very interested in Econ, but I still struggle.</p>

<p>As i go through this thread, i have only noticed a couple of people mentioning the struggling US economy. I am currently a Economics major in the art & sciences school at my college and i have a finance minor in the business school. Of course everyone at the U Penns and Berkleys of the world will get hired at high salaries but what about the rest of us? </p>

<p>I’m not at a bad school, it’s ranked in the top 50 overall by usnews.com and the business school here is in the top 50 according to business week. It’s also a private school, idk if that counts for anything.</p>

<p>But anyway what do you guys think will happen to economists salaries? Is it more or less firm than business students’ salaries? Are people calling on us or throwing us on the side? Are more government jobs opening while private workers are fired?</p>

<p>I don’t believe that capitalism will fall or anything radical, but as my student loans increase and the job market seems to be shrinking, I am worrying about getting a job when I graduate. I will only be a junior this fall so I am hoping the job market recovers by the time i graduate.</p>

<p>^no chance of that happening.</p>

<p>Network your as.s off at school, and get some experience in your field. Then hope to god you can land a job.</p>