I wish to pursue a degree in economics after I finish my foundation. I wanna ask is it a wise choice? I really like economics and I'm pretty good in it. But the thing is people have been giving me negative comments about it. Like it is very hard to find a job in the future, and it is not enough just majoring in economics. So do you think it is a safe choice?

For now maybe but no one knows in the future, it'll be like 3 years before you even graduate and who knows maybe the demand will be soaring high or remain the same. Anyway, regardless of what course there will be still people studying it and if people really can't find a job then for sure no one will even bother thinking bout this course.

The reason why it is not so popular is probably not much people is taking this course compare to more popular ones like accounting, you dont bump into an economist that often compare to an accountants.

My advice is just study if you like it and worry bout things later, it'll turn out to be good since you have interest and is pretty good in it. Everyjob has their own demand and if you're really good don't worry about not getting a job.

This post has been edited by justamember: Jul 11 2010, 03:20 PM

You will get a job but you won't be in high demand because what you learn can't be applied and has no use in the office as a low level staff or low level management. If you plan to do economics, strengthen it up with business math, financial models and investment or statistics. It's simple, look at the syllabus of your economics degree, go to the bookstore or google up the areas you will cover and just read the broad and brief definitions of the things in the syllabus. Then you can answer the question yourself.

This post has been edited by mumeichan: Jul 11 2010, 05:02 PM

you study econs you can work everywhere except those place where they need technical knowledge, because it is a general degree. just like BBA. it is not true you will be struggling in finding a job.

like many said, be prepared to further your study until phD level. you probably cant go far with just a degree.

i am studying it myself and from what i observed, most of the econs graduate will work as a small employee but however some (cream of the crop) did made it to investment banks and drawing high salaries.

BUT, i personally think a degree in econs is very good in terms of building your mind and thinking. it really helps you to think like an economist. econs people tend think and speak different from others. everything that goes into our brain will be analyzed with its costs and benefits.

perhaps if you are sick of it you can do something else later on your master. perhaps accountancy?

good luck.

This post has been edited by icycokes: Jul 11 2010, 07:13 PM

so as long as you are not choosy about your job, i believe u will have no problem finding a job.

A degree merely serves as a passport to enter the workforce and does not determine ur career.. heck.. do u think those with an accounting degree are really equiped for the accounting world..any graduate would still need to pursue further skills through exp and studies.

In Big 4 accounting firm, they even accepts engineering graduate and banks do not demand any specific degree. They are just looking for people with right attitude and are willing to learn and of course smart. This generation is about whether u can learn unlearn and relearn.

Btw, economics is a very good training as it trains u to think logically. It would be most useful when u reach a senior position or when u work in trust funds and banks

Erm, what positions can an economics degree holder apply for in the future? I'm not really sure.. thanks

I am a econs grad and I agree with Icycokes except for the bold text.
Economist will focus more on how a particular market behaves. Perhaps business student focus more on cost and benefit analysis.

Only jobs in the Economic Planning Unit or Central Bank (Bank Negara) are deem related job for economist. As a result most econs grads end up in other sectors. Icy already share his thoughts on economist not in related field and I do not disagree.

I had to disagree with mumeichan. The level of math that is applied to economic are in no way inferior to the math applied in business. You think the finding the inverse of 2X2 matrix in SPM is hard? Try it for 16X16 or 5 dimensional (a,b,c,d,e) matrix. The differential and integral calculas is that of 3rd year level math. Once in fourth year, you will have to take econometric. Unless you have 2nd year level statistic you are do not have the prequsite for the course.

This post has been edited by faceless: Jul 12 2010, 12:19 PM

Thanks bro. So did you have any problems finding a job? And what kind of work are you doing now? So in conclusion, do you recommend me taking it or not?

Yes, but that's not my point. I'm telling him he needs to double major in business mathematics, statistics, finance or investment. By business math I did not mean the math someone needs to learn to get just any BBA. Sorry about the confusion. I meant doing another major in financial math, actuarial math or something similar or majoring in statistics. Because, as you say, a degree in economics requires alot of math, but not up to what Math majors learn in their 3rd year, if that's what you mean. We need to learn up to multivariable calculus, basic statistics and linear algebra. Those subjects can easily be done in 1 year. Secondly, we are only applying the math to economic models. So a little more math and statistic and we can already double major in finance, financial math, statistic or even actuarial math. These are far more practical and have more lower level positions in the business field.

I wonder how many people agree with this statement below.
Lets take it another step and ask if a duoble major (in another non technical field) would enhance job seeking opportunities?

Mumeichan,
Perhaps I misunderstood you. I would not deny a double major helps but only to improve you own knowledge. I am doubtful that it would increace your chance for a job. I did a double major in Sociology. I had a class mate that did a double in Econ and Math. We applied for a vacancy in an insurance company and to our surprise I got the job. In spite of being well verse in acturial math my friend did not get the job. What can I say. Lucky?

Diversity,
It is always good to study something that you like. It is the interest that will carry you through it and ensure success. I had lost interest in Economic after the the second year. I found Soicology more interesting and persue it for a second major. In spite of it loosing out in term of time to Economics (Econ yr2, Socio yr0), my interest manage to help me secure it as a second major. Of course I had to catch up on time by doing summer courses.

I had been in personnel and admin for about 15 years. Now I trade futures and equity.

If you like it and has a passion for it, go for it. Studying economics doesnt mean that you are only restricted to work as an economist. Your course structure will include a lot of other topics beside econmics with a fair emphasis on business, finance, statistics and of course management.

Job openings include banks, management trainees in MNCs, research analysts and many others.

With a job opening, the "can do or willing to do" attitude will get u up the corporate ladder faster than you realise.

If you do a postgrad with an MBA, it would be a distinct advantage.

does that degree helps you trade better?

If you've put in a great deal of effort, and be among the best in the industry,

Any business-related degree is the same. Assuming they're from reputable universities.

You can get a unique "oh so famed" degree let's say Actuarial Science, but with mediocre results and also less than stellar work performance you'll climb nowhere high.

However if you get the most commonly sought degree, such as Accounting, but you constantly endeavor to mold yourself into a super accountant with a wide variety of superior business skills from different areas, chances are you're gonna climb sky high.

Also, there's something called specialist area too.

This post has been edited by entryman: Jul 13 2010, 10:20 PM

Nope. Trading is a different ball game. It is also not a profession that you can pick up from books.

im an economic major graduate, double major actually marketing and econs. i cant tell you much about job scope cause im doing my masters in business with majors in international business at UQ.

while i never perceived econs as a degree to get you THE job people dream of, most puppets go to accountancy for that. it does grant you a different perspective of the business market, you will be able to detect bubbles (which normally makes you the odd one out as everyone is hyping over it - like china), know what the causes and effects of inflation means, yadda yadda. there are also different types of economics, the ones that deal with calculations, those that deal with micro models or those that deal with marco models.

and also it will tell you that most self "proclaimed" economists (often in /k/) out there are just mere posers with blog knowledge

fun subject, never did too good and loved it a little too late.

This post has been edited by +3kk!: Jul 14 2010, 05:48 PM

Nowadays Economics as a degree is different. They are highly quantitative and demanding.

Who knows, if you study economics you can be some sort of analyst. You could become an actuary. You could become a banker, or a trader, or an investment banker.

Similarly, an engineering graduate could perform the job that an economics graduate does. It depends what jobs you get into and what work you do. People working in business and finance sometimes get good pay, it's not all about medicine and science.

the top five most wanted majors in no particular order:
1. Engineering
2. Comp Sci
3. Economics
4. Nursing
5. Education.

how about social economics ? = D go to PhD School and check out some of the threads under economics

imo there are 2 sides to economics - one that involves the number crunching and the other and involves a lot of understanding of history. My university falls on the number crunching side. Understanding of history and social theories falls in as an arts degree but its a lot cooler to me =D because anyone can number crunch their way through uni but to whip up a good argument essay needs a lot of reading of your history books + contemporary economics knowledge + day to day business changes.

Just giving my 2 cents I never studied economics though

i am economics student. but, i have taken mathematics as my 2nd major. (i am double major).
who say econ grad student dont have good prospect in job market ? most of the banks ,brokerage firms or consultation firms will hire u as research which guarantee high salary.

ts, you can't be rich but can survive like low middle class (driving proton or stay at apartment) people. Go to study proffessional courses if you want better life

Lol, dude, making such a big statement requires solid proof. Low middle class? Have you seen how many successful economist out there? Man.

dude, pls read this http://www.maybank-ib.com/news/speaker_profile.html before making your opinion.
almost 70% of this ppl graduated from economic background

Academic courses with a degree can't get you far in life ...can't be rich when working for others. Maximum can earn/ salary scale is about 3k if you are lucky finding a job. Too many graduates with academic degree in the market complete for few jobs.

---

Added on September 12, 2010, 1:37 pma accountant can earn 10k in their career and highly demands. So does a doctor, lawyer , engineer with proffesional certificate. They are the ones that can be rich.

This post has been edited by Godalike: Sep 12 2010, 01:37 PM

Not all acountants can earn like what you mentioned 10k and above.

Being a doctor, lawyer or engineer certainly gets you somewhere but they are not the only one who can get rich.

Have you ever seen those who operate food stalls driving big cars? They are rich too despite not being a professional.

This post has been edited by justamember: Sep 12 2010, 01:59 PM

anybody can be rich ... it's just what you do with what you have. don't look down on the ramli burger stall guy, don't look down on the janitors ... for all you know, they drive mercedes

FYI, Warren Buffett is an economic degree holder.

This post has been edited by Critical: Sep 13 2010, 06:45 AM

a doctor can be rich? this only applies to those docs graduated 20-25 years ago.

FUUUUUUUUUUUUUUUUUUUUUUUUUU!!! That is the biggest lie I've ever heard!!!

walao. Accountant can be finance manager or finance controller when move up their career. So easily get 10k.

I'm thinking of getting double major in Business in Monash. Would it be pleasant to get Econ & Finance? After my degree, can anyone tell me how could i improve my qualification beside MBA or CFA.

Lol, it's possible but doesn't apply to ALL accountants

Hey TS, I admire your interest for economics. There's a certain degree of truth to the fact that ppl are saying that a pure Economics degree is a general degree, but please do not worry about that for now. You claimed that you really like economics and you're pretty good at it, hence, may I suggest to you to bring it up a notch and perhaps do a masters with it. Having a masters in economics will greatly propel you further in terms of your career prospect, and it'd prolly clear most of your doubts in terms of job prospects and skills. For your degree course, its not so much of the theories and models you will be taking away and using it in your work, but rather, the way u approach these theories, the fundamentals when it comes to applying the same understanding in real life situation where appropriate. As an economics student, you will learn to be very meticulous and analytical when required, and these are the more important values which you will bring forth to your working life. However, do bear in mind that uni-level economics is very different from a pre-U level economics, naturally, it will be alot of times tougher. It kinda caught me off guard when I found myself having to deal with messy differentiations =.= ( you may be good at it, but I'm not sadly =( )

Generally I do not think economics graduate will have a significantly tougher time getting a job upon graduation, I have a couple of peers who ventured into Investment Banking. As for myself, I'm leaning more towards the policy research/policy implementation of the economy, so I'd prolly see myself working in institution such as the Central Bank.

hope this helps =)

still a general degree without any demands in the market. No need to take MBA or CFA cos waste time and money . With MBA or CFA never guarantee you a nice job

---

Added on September 14, 2010, 10:53 pm
to work in central bank. you must either a bumiputra or received a scholarship when studied in varsity and bond to work for them after graduation.


This post has been edited by Godalike: Sep 14 2010, 10:53 PM

---

Added on September 14, 2010, 10:53 pm
to work in central bank. you must either a bumiputra or received a scholarship when studied in varsity and bond to work for them after graduation.

[/quote]

Hey dude, that's not really true, they do have non-bumis in the central bank. Its a mis-conception to think that its only open for the bumiputras =(

[quote=Winded,Sep 14 2010, 11:19 PM]

---

Added on September 14, 2010, 10:53 pm
to work in central bank. you must either a bumiputra or received a scholarship when studied in varsity and bond to work for them after graduation.

[/quote]

Hey dude, that's not really true, they do have non-bumis in the central bank. Its a mis-conception to think that its only open for the bumiputras =(

[/quote]
read carefully what i wrote, a non-bumiputra with good results with a scholarship from central bank also can work there. i didn't said must be bumiputra only. but a non-bumiputra apply a job in central bank will be much more difficulties compare with a bumiputra unless you received a scholarship from central bank and bond to work for them for certain duration or years

This post has been edited by Godalike: Sep 15 2010, 12:36 PM

this one no use. that one wastes money. that one wastes time.

so better not study anything and start whining why your father is not ananda krishnan.

can you tell me what is a NICE job and how do i get it by what education? is it ONLY accountancy which you mentioned earlier? the only profession that can earn 10k/month?

i am the very wondering what is GODALIKE work as ?? hahahaha..
based of my experience, he should work in direct sales, insurance agent or even jobless. because he never know/realized and experienced the real meaning of "professional" yet. haha..

p/s: no offence =)

haha whatever it may be, do what you like. I sincerely believe that its your interest that would drive you to greater heights, the ultimatum motivation of all. Im not playing down the monetary role in a job, it is crucial, but do what you like, and what you're good at =)

By now, I would think that TS is prolly already doing his course, best wishes then =)

thanks man, I really like economics. But my seniors and lecturers told me economics is a dying course. Even my lecturers advise me to take accounting and finance. What about bachelor in banking? I heard there's a lot of economics stuff inside too. I'm being very cautious now because I really do not want to burden my family. Because I come from a family that is not that rich, so my parents expect me to lift some of their burden once I graduate and working. But I'm scared after I graduate I would join the unemployment ranks, that's why I'm having second thoughts. Sigh.

now you are thinking..your mind is working. Great. If you are unemployment or cannot earn a living, how do you take care your parents or your children when get married? They need medical attention beside foods and home. I make a mistake 24 years ago when i choose general science degree over engineering and was offered a kuok foundation to study in NUS in Spore. My career wasn't smooth sailing..working almost 20 yrs in manufacturing and services industries. Now i am doing on my own..i am 40+++

This post has been edited by Godalike: Sep 17 2010, 04:05 PM

Honestly, I always thought Economics is one of the more interesting finance-related courses out there that can make you climb pretty high.

It would probably be better if you could do a double major or double degree in Econs & Finance. Might widen your job prospects especially in the banking industry. This way you won't be limited to just investment/analytical jobs.

I'll share a bit on my relatives: I have 3 cousins who did degrees in economics..




My POV is an outsider's POV. I'm from a totally different background (science)..

I beg to differ on the notion that it is a dying course. Yes it may be very classical in certain areas, and hence may not be applicable to the current global economies, but what it envelopes spans beyond these. Like I said, it is more of a character and traits building subject than a subject where u take away a great deal of practical knowledge to be applied in real life. Again, I wish to reiterate on the fact that having an economics degree doesnt mean u will face gloomy career prospects, this is not true.

Like many mentioned here, its not so much of what u were equipped with, but rather what you'll be able to make out of what's given to you in life, to attain success =)

Best wishes!

This post has been edited by Winded: Oct 4 2010, 12:45 AM

Cousin 1 got into investment banking because he studied at Cambridge and not because he did an economics degree. You can come up with a history degree and still land a job in an IB because the university itself is elite enough for that.

Cousin 2 got just a job in a commercial bank, not a bad place to start but the salary is no where near a job at an IB. Reason being, UniWA and econs.

Cousin 3, not the best university around but the fact that he did finance in school means he could somehow demonstrate that he is cut out for IB.

The lesson here is, if you go to an elite school, any major is good enough. If you go to the rest, then you should concentrate on doing a finance major.

well said. anyone can go in IB as long as he is good. IBs will provide all the trainings you need.

There are only two threads on economic in PhD School. Both were the same topic on the good and bad of capitalism. The threads are more on forummers opinion that actual academic debate. There are some threads that had been taged as economics by the TS but had nothing to do with economics at all.

Economics does not realy so much on understanding history. It more of understing how the market behaves. There is only one side to economics. I had a double major in Sociology and Economics. The disciplines do not overlap.

This post has been edited by faceless: Oct 4 2010, 02:51 PM

Sure they overlap. Simple question, if something was priced at 0, how much would people want? That's something of interest in economics, sociology, psychology, politics and probably many other social sciences. There's overlap all around, it's just a matter or realizing it. And term's like economics, sociology and so on are just man made terms, it's only valuable in terms of language but as far as scientific inquiry is concerned, they're nothing more than over generalized classifications.

Godalike,

What do you mean "With MBA or CFA never guarantee you a nice job"? Your statement is a bit vague.

---

Added on November 19, 2010, 2:53 pmDear diversity,

You can branch into Banking or Finance. Both offers a good career. Keep your passion in economics alive. It will be useful no matter which field you go into (Banking or Finance).

Cheers.

This post has been edited by fino_abama: Nov 19 2010, 02:53 PM

I don't think I'll take banking...since it's not really a well known course and its better to take a well-known degree for better recognition. And I herd even if you take accounting / finance you can still work in banks.\

As for finance, I'm still unsure..I kinda like finance..and I heard there are a lot of economical subjects in a degree in finance. But the thing is, by just taking finance ALONE as your major, is it advisable? I heard people telling me to always take accounting and finance but not finance alone, that way it'll be better.

TQ

may i ask is it better to go for economic with finance or with marketing in dual major degree?

which one will be more suitable for both in studies and also for searching for a better job?

You can easily go in banking