Thinking about an economics major

[Ice]

My major at my university is currently finance, but I have a year to switch it to any of other majors in the business college. I was thinking economics because I literally love the macro class I'm currently taking, specifically the part about international trade and how global economics tie into each other. I'm think about taking it up as a major and going to graduate school afterwards to obtain my masters in international economics.

My question is, do you believe this is a good field to enter job, salary, and opportunity wise? What kind of jobs will I be able to get with these degrees?

I would really love to do international banking or something of the sort. Is this the right path to take?

Any help would be appreciate. I believe there are a few economists on these boards, so this is why I ask.

[Big King Sanctaphrax]

Excuse my ignorance, but what is the difference between Finanace and Economics? Is Finance more to do with the practicalities of banking, accounting, that sort of thing, with Economics being more to do with the theory?

Either way you'll probably make more money than me.

[KukriKhan]

In the US, Finance = details, econ = the big picture.

Here, when you've done your medico training, you'd make more yearly income than an economist. Unless the economist was also a savvy media marketeer.

To answer Ice's basic question: International banking looks good for the next 20 years. Consulting to government or corps looks over-staffed to me. I'd pursue your present course, and pick up minors in Mandarin and Spanish.

Oh. Why? So you can spead americanism to the greatest part of the world, in their own language.

And you can pick up chicks in two-thirds of the earth. A valuable talent.

Whatever your decision, get a language, I advise. You will (and we will) need it soon, IMO.

[doc_bean]

Over here finance is definately valued higher than economics (finance is essentially everything that economics is, and then some, at least here), but most 'high-up' positions, at least in the corporate world are taken by engineers (I beleive we have a different system of engineering studies, we have two levels).

Search for the jobs you want to do, search who's doing them (most of the higher management should be listed), find out what they studied, do the same.

[econ21]

Economics develops a nice range of skills - analytic, verbal and mathematical as well as giving you knowledge of a range of concepts that are useful in a wide variety of private and public sector professions and management. In the UK, economics graduates do very well in terms of employment and earnings - one study found it the highest paying major after Law. (They did not have Finance as a separate category, but Economics paid more than Business - perhaps because it has a higher academic status and is considered more demanding.)

I think there's a lot to be said for doing the subject that interests you the most, in part because it may be what you will excel in. I suspect an international bank might be more interested in an excellent economics graduate than a merely good finance graduate.

Personally, I think economics is more intellectually interesting than finance and from what you've said, suspect you will think the same.

[Samurai Waki]

*yawns* business as usual. Of course my Major involves taking these guys to court for malpractice and embezzlement. Though I don't know if I ever have any intention of ever using it.

[Ice]

Economics develops a nice range of skills - analytic, verbal and mathematical as well as giving you knowledge of a range of concepts that are useful in a wide variety of private and public sector professions and management. In the UK, economics graduates do very well in terms of employment and earnings - one study found it the highest paying major after Law. (They did not have Finance as a separate category, but Economics paid more than Business - perhaps because it has a higher academic status and is considered more demanding.)

I think there's a lot to be said for doing the subject that interests you the most, in part because it may be what you will excel in. I suspect an international bank might be more interested in an excellent economics graduate than a merely good finance graduate.

Personally, I think economics is more intellectually interesting than finance and from what you've said, suspect you will think the same.

Hmm, I tend to agree. I'm probably going to go for economics. I'm more of an academic person than a business savvy one, so I think it will suit me well.