Economics Applicant Thread UCAS 2012

Paul Samuelson, a great economist who basically introduced mathematics into economics once said:

"... the problems of economic theory- such as the incidence of taxation, the effects of devaluation- are by their nature quantitative questions whose answers depend upon the superposition of many different pieces of quantitative and qualitative information. When we tackle them by words, we are solving the same equations as when we write up the equations. [...] no sensible person who had at his command both the techniques of literary argumentation and mathematical manipulation would tackle by words alone a problem... The convenience of mathematical symbolism for handling certain deductive interferences is, I think, indisputable."

I love that quote

Hmm, it's a shame that when you do reduce an economic problem to mathematics, you often lose much (perhaps all) of the real-life relevancy. The solution yielded tends to only apply to a very narrow and idealised situation.

That is true. But aren't all economic problems, whether reduced to mathematics or written in words, quite idealistic; only focused on one exceptional situation with one solution? I share Paul Samuelson's opinion but of course, there has to be a mix in some way. If you only describe economic problems in mathematical equations you will only get one solution. As we all perhaps know, economic problems don't always only have one answer.

Quantitative means that it is mathematical and not qualitative which means rather essay-based. Yea maths is the language of economics today. It used to be different 100 years ago that's why it was considered an art back then. Today it is a science.

If you think you can't handle the maths, go for A&F. Because economics is maths. And a bad 2:1 or 2:2 doesn't look as good as a 1st in A&F. But if you enjoy economics more, then go for that.

is having no A*'s at GCSE bad, even though you are predicted 4 A*s at A-level?

Of course most problems are quite idealistic, but if you focus on the maths you risk neglecting the possible complications of the true situation. As for having a single solution, this isn't actually true even if you do only use equations - there are plenty of ways of generating models with multiple solutions / equilibria.

I am not saying that I am bad at maths. I got an A at GCSE and got 80% at AS and will probably get A/B at A2. I am not bad but not great at Maths. How much (%) of eco is maths? Also will the level of maths be greater than A Level or there is only an extensive use of maths?

It is just I am getting mixed messages about what to do. I want to do accounting so thought of doing accounts and finance which will give me exemptions. However my A2 eco teacher who was my AS accounts teacher told me that I should do eco instead. He said that I can get in with almost any degree and that the big 4 prefer alternatives such as chemistry

It's bad, but as long as you have strong AS grades to back up the predictions it could be ok.

You can't say how much % of econ is maths because every university is different. LSE's course for instance is very mathematical. The maths itself is much more advanced than A Level Maths and Further Maths. But if you work hard, I am sure you'll be able to cope with it. It really comes down to whether you think you want to study a subject with loads of maths or not.

If you really want to go into A&F after uni, it'd be sensible to study A&F. Don't go for Econ because your teacher said so... What unis are you looking at?

I have 4 A's all of which were near/around 90%

That should put in you in good stead and show that you've stepped up from your GCSE performance to a whole new level. Although, this is dependant on the subjects you've taken as well. If they're all solid traditional subjects then that'll definitely show you've turned a corner. Where do you plan on applying?

I have 4 A's all of which were near/around 90%

nice! yes I'd say 3 of your 4 subjects are v.good A levels for A levels, i.e. maths/eco/physics
Electronics does add variety but I would have chosen further/hist (as they are more related)..
But then again I'm not even doing an economics A level

Yea It's annoying really because when I chose my A-levels, all what it said was required for an economics degree was a level maths (it still does), so I thought Id choose electronics as a 4th subject for something a bit different.

However, what annoys me is when the majority of Uni's who say they prefer people with FM don't even put it on their website! (with the exception of LSE).