Is economics a USELESS degree?

i had my heart set on applying for economics but read today the degree is basicallyy useless unless you dint go to top units like cambridge and LSE. I'm in a bit of a panic now. would a degree from the likes of dundee' standrews be considered as useless. Thanks in advance

Reply 1

Mav455

Original post by joe97

Of course not. It doesnt matter where you get a degree from, its what you learn during the degree that matters. You could have someone who went to Cambridge and did Economics and someone who went to, say Westminister and did Economics who BOTH got a first. But the thing is everyone has a degree nowadays, so it doesnt automatically get you a job like it used to. If one of those applicants has years of experience related to economics, like in a bank, a firm etc, then they are more likely to be chosen than someone who doesnt have experience.
http://www.thestudentroom.co.uk/showthread.php?t=1104670

Reply 2

joe97

Original post by Mav455

Thank you for your reply, its because i read some people saying ' if you didnt go to a uni in the top 10, youll have a hard time finding a job or earning big ' etc. which put me in a panic

Reply 3

Yux

Original post by joe97

scotland isn't that bad but thats only if you plan to stay there after uni...i think dundee uni has a really good computing degree?...http://en.wikipedia.org/wiki/Dundee#Economy

Reply 4

Mav455

Original post by joe97

Thank you for your reply, its because i read some people saying ' if you didnt go to a uni in the top 10, youll have a hard time finding a job or earning big ' etc. which put me in a panic

Dont worry, people go to different universities, whether that was a top 10 uni or not is not relevant. They all still got a job, not due to the uni they went to, but due to the work they put in. You can achieve a lot as long as you put your mind to it :smile:

Reply 5

Kash24411

Employers look more at past experience, skills&qualities, communication skills, flexibility, teamwork and if you can demonstrate these in real life working events. A degree would just get you past the first stage it's mainly how you do in the interview process. So just focus on getting a 2.1 or 1st (whichever is required for majority of the economic related jobs) and getting as much experience in the field as possible as you will be put at a strong advantage against other candidates.

Source: Took part as a scribe in several interviews (in HSBC bank) and the interviewer told me himself he mainly looks for past experience, how well the person deals in x situation and the type of skills the person can demonstrate rather than academic qualifications.

Also i have a business mentor who told me himself that experience and key qualities is what matters when applying for a job, he personally declined a highly academic qualified graduate over a less academic qualified graduate simply because the person couldn't work effectively in groups and he couldn't communicate well with others. ( The company he works for provides banks and financial institutions with solutions and services and he is the manager of one of the key departments - so finance related)

(edited 9 years ago)

Reply 6

joe97

Thanks a lot for the replies guys, it's calmed me down, so basically It doesn't matter what uni I go to but as long as I get a 2:1 or 1st class I won't be put at an disadvantage . So it's personal qualities and past experience that give you that extra edge?

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Reply 7

Okorange

Original post by joe97

Of course not. Its not just for the top schools. Economics is more useful of a degree for finding a job if you go to a top school for sure, but that is kind of the same for any degree except medicine isn't it.

Reply 8

NowAndThen

Absolutely ... tell me the % of economics degree holders who practise as economists or in the field requiring their knowledge of economics!

After saying that ..... the same goes for most degrees. So why bother with a degree? Because .... a good education will teach you how to think and be prepare you for work life.

So do what you like best bcos you will be able to do your best and learn from it.

Reply 9

returnmigrant

Lots of advice about Economics courses here : http://www.thestudentroom.co.uk/wiki/Economics_Degree

Reply 10

Okorange

Original post by Yux

scotland isn't that bad but thats only if you plan to stay there after uni...i think dundee uni has a really good computing degree?...http://en.wikipedia.org/wiki/Dundee#Economy

Never heard of dundee having a good computing degree. Edinburgh likely has the best, 1st in RAE in 2001 and 08 and 12th in the world on QS.

Reply 11

AdamCee

Original post by joe97

Thank you for your reply, its because i read some people saying ' if you didnt go to a uni in the top 10, youll have a hard time finding a job or earning big ' etc. which put me in a panic

Yeah you probably heard that somewhere here.

That's cos everyone likes to satisfy their massive ego by saying that their Uni is the only way on the planet of getting into a decent job, as well as "Oxbridge or you fail" or "Russell Group or you won't get a job" - seen them a lot too... Also expect the "Yeah I got 10 A*s at GCSE and 4 A*s at A-Level, although I wanted 100% UMS so gutted :frown:

Reply 12

returnmigrant

There are plenty of unemployed (or underemployed) grads from Oxbridge or RG Unis.

That may tell you something - going to such a University is not a magic bullet, or an instant guarantee of wealth and lifelong happiness.
Employers look for vastly more than the over-hyped brand name of your University.