Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    0
    ReputationRep:
    I am deeply interested in Economics, and I will probably apply for it next year, but i do have a few reservations...

    I do understand that only a ridiculously small number of economics graduates go into a starting profession that is directly related to economics (Ive heard between 3 and 15%), but surely this must mean that there are just not enough jobs in this sector? (I am intending to apply to 3/4 of the Big 5), but even regardless of that, where are the jobs?

    Also, wouldn't a business and management course be better for job prospects, and make you more suited to life in the corporate world? Obviously, this makes Oxford's Economics and Management course very preferably, but only 80 places and ridiculous competition...
    Offline

    19
    ReputationRep:
    I would say less than 3% go into a profession directly related to economics.

    However a lot of economics graduates go into different jobs in the financial sector, accountants, actuaries, various jobs in insurance, risk management etc. There aren't that many graduate opportunities as an economist but there are more prospects as an experienced hire for economics graduates eg Big 4 firms run economic consulting arms and hire former economics grads who have ACA.

    Most graduate economist opportunities are with the Government Economics Service but they have a long and demanding recruitment process and you have to get on the Civil Service Fast Stream to be accepted, so you can't just rely on your knowledge of Economics. There are private sector consultancies and I think PWC makes a small number of graduate hires every year but compared to the number of economics graduates that come out of university every year it is a tiny proportion.

    Overall though you generally find most economics graduates do OK but partly that's because its competitive to get in so even at the universities outside the top 10 there are lots of AAA students with strong Maths backgrounds, so most companies who recruit in the financial sector have a lot of Economics grads on their books.
    Offline

    0
    ReputationRep:
    Get a Bachelor in Economics.
    Go for a Master in Business or Finance.

    Perfect combo, get rich etc.
    Offline

    1
    ReputationRep:
    If you are very very keen of doing economics related things after graduation...do a mphil/phd.The answer to your second question relating business and management courses is NO!Economics is a much more respected degree than business!the more mathematical content your degree has the better it is for finance related job.
    Offline

    2
    ReputationRep:
    I'm afraid that economics along with most social science, arts and humanities degree is likely to lead to a career unrelated your course.

    Then again, the same could be said for physics, chemistry and Biology as well.
    Offline

    1
    ReputationRep:
    (Original post by DonFahad)
    I am deeply interested in Economics, and I will probably apply for it next year, but i do have a few reservations...

    I do understand that only a ridiculously small number of economics graduates go into a starting profession that is directly related to economics (Ive heard between 3 and 15%), but surely this must mean that there are just not enough jobs in this sector? (I am intending to apply to 3/4 of the Big 5), but even regardless of that, where are the jobs?

    Also, wouldn't a business and management course be better for job prospects, and make you more suited to life in the corporate world? Obviously, this makes Oxford's Economics and Management course very preferably, but only 80 places and ridiculous competition...
    i) No it doesn't mean that there aren't enough jobs in this sector. Economics graduates are one of the most sort after graduates out there, it is really about what do you want to do and I reckon Economics can you get there. (Except health and engineering etc.)
    ii) Business and management < Economics.
    Offline

    1
    ReputationRep:
    Business and Management at undergraduate would be so mundane though. I presume the highest level of math you'd come across is solving a balance sheet.

    But I could be blatantly wrong :indiff:
    Offline

    0
    ReputationRep:
    Do a PhD and then work for the IMF or World Bank.

    Then some years down the line realise that you should have take that Goldman internship, since you don't need a soul if you have 6 0's * in your bank statement.

    * before the .
    Offline

    1
    ReputationRep:
    (Original post by Krov)
    Get a Bachelor in Economics.
    Go for a Master in Business or Finance.

    Perfect combo, get rich etc.
    agreed
    Offline

    0
    ReputationRep:
    Don't be afraid that an economics undergraduate degree isn't going to turn you into professional economist - it's the best starting point, normally followed by an MSc and perhaps a PhD later on.

    A large proportion of graduates end up in finance/banking, consulting, accounting etc. Economics is a better-respected degree than business or management studies, as attested to by the fact many top universities don't offer that course at undergraduate level.
    • PS Helper
    Offline

    14
    ReputationRep:
    A deep interest in Economics should mean a big disinterest in business management as a degree.
    Offline

    0
    ReputationRep:
    (Original post by yoyo462001)
    A deep interest in Economics should mean a big disinterest in business management as a degree.
    If you don't understand economics, you'll be a really ****ty manager. So no, Economics is very good.
    • PS Helper
    Offline

    14
    ReputationRep:
    (Original post by Krov)
    If you don't understand economics, you'll be a really ****ty manager. So no, Economics is very good.
    Wait are you disagreeing with me? :confused:
    Offline

    0
    ReputationRep:
    (Original post by yoyo462001)
    Wait are you disagreeing with me? :confused:
    Both are two sides of the same coin, so no Interest/Disinterest dichotomy as you seem to imply...
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by yoyo462001)
    Wait are you disagreeing with me? :confused:
    He is.
    Offline

    0
    ReputationRep:
    I think Krov is saying if you are interested in management you should be interested in economics, and yoyo that if you are an economist you should not be interested in management?
    • Thread Starter
    Offline

    0
    ReputationRep:
    He says 'So no', which means obviously that he is disagreeing with the man above.
    He says economics is crucial to management.
    He then says Economics is very good.

    What is so difficult to understand
    • PS Helper
    Offline

    14
    ReputationRep:
    (Original post by DonFahad)
    He says 'So no', which means obviously that he is disagreeing with the man above.
    He says economics is crucial to management.
    He then says Economics is very good.

    What is so difficult to understand
    Yes but those points don't refute what I said.
    Offline

    19
    ReputationRep:
    A good economist is not necessarily a good manager.

    You can be a good manager and not know much economics, as long as you have somebody reliable working for you, who does.
 
 
 
Reply
Submit reply
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: December 4, 2010
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    What newspaper do you read/prefer?
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.