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Econometrics or Economics?

Which course gives better background for career. I'm thinking of doing finacial analysis and investments in stock markets at the future. :smile:

Any adivice will be helpful.

Reply 1

Knogle

16

I'm guessing Econometrics would be marginally better (ceteris paribus), but you really need to love maths.

Reply 2

bosejiu

OP

Thx for tip, I love maths so econometrics will be pure pleasure ( I hope so...)
:biggrin:

I recall, that there is also course like Economics & Menagment, can someone describe it ( for instance in reference to Oxford E&M ). Does it resemble MBA studies? :confused:

Reply 3

Theorist

10

Econometrics would be better for your intended career path. You'd definitely do some in an Economics degree, but if you want to go into quantitative finance, econometrics would be a more suitable subject. Hell, if you really like Maths and you want to go into quantitative finance, why not do a Maths degree? I've heard that's got the best career prospects for quantitative finance.

I'm not entirely sure what you mean but...

Oxford offers an undergraduate degree course called Economics and Management. It's undergraduate. An MBA is a for those who have been working for at least 3 years and is a Master of Business Administration. The Oxford Economics and Management degree would give you a good background for an MBA, although they're very different.

Reply 4

Kendra

2

bosejiu

Which course gives better background for career. I'm thinking of doing finacial analysis and investments in stock markets at the future. :smile:

Any adivice will be helpful.

Are there such things as Econometric standalone degrees? Most I've seen are Economics with Econometrics (what I have). MSc I've seen "Quantitative Economics" (as well as the same as above, but with and in place of with).

But go the Econometric route if it's an either/or choice of the above - although I originally signed up to do Economics, my University offered myself the degree option of "Economics with Econometrics" by taking two extra modules in the third year

Reply 5

bosejiu

OP

Now, I'm almost enlightened :smile:

In LSE is course Econometrics & Mathematical Economy.
I think Economics & Econometrics will be suit for me, as It is mix the maths and the economic theory. There is also another option : undergraduate in Economics and after that do postgraduate in Econometrics. I have doubt if I will find a "dream" work having only BSc or BA in Economics .... Have you any idea about the costs of postgradute studying in US ?
( Does Ivy League universities are also need-blind in case of postgaduate? )

Sentooran: You mean joint honours or only the Maths ? ( I'm not so keen on Maths to do it standalone, but in practical use it will be much more interesting ) :wink:

Reply 6

Blondin

1

Be careful: LSE MSc EME is purely theoretical (so I guess it is kind of the same thing for the undergrad degree)and does not propose any practical insights, more than useful for a career in finance.

Reply 7

bosejiu

OP

I've just found quite interesting course:
BSc Actuarial Science at the City Uni of London.
Do you know sth about it ? Do anyone among you do a similar degree ?

Reply 8

bosejiu

OP

Synergetic

Yeah I'm sure I've read about some people here doing that degree. But I'm sure it's definitely more Maths than Economics, so you may get a better response on the Maths Uni board. Try the actual City Uni board aswell.
The only think I've heard about that degree is that you probably will be minted if you do it. I'm sure the actuarial profession gets paid a ridiculous amount of money. But of course, that's only a small factor in choosing whether to do it at Uni or not.

What you mean by ridiculous? I assume that very low. This is a quote from their website:
"With many actuaries becoming general managers or directors, actuarial work is one of the highest-paid professions in the UK."

Reply 9

TheAP

9

Kendra

Are there such things as Econometric standalone degrees? Most I've seen are Economics with Econometrics (what I have). MSc I've seen "Quantitative Economics" (as well as the same as above, but with and in place of with).

But go the Econometric route if it's an either/or choice of the above - although I originally signed up to do Economics, my University offered myself the degree option of "Economics with Econometrics" by taking two extra modules in the third year

Notts offer 'Economics and Econometrics' degrees.

Reply 10

Theorist

10

bosejiu

Sentooran: You mean joint honours or only the Maths ? ( I'm not so keen on Maths to do it standalone, but in practical use it will be much more interesting ) :wink:

Either. For some jobs, a joint honours would be better but for others, a solid Maths degree would be better. For example, from what I've heard, the best degree for deriviatives trading is Mathematics.

However, some jobs require mathematical skill but also some economic theory (can't think of one off the top of my head - anyone?) so Maths and a joint honours (like Maths and Economics) would be better.

If you're not one of those people who enjoys doing Maths for the sake of it, then avoid a Maths degree, because they're tough and it's better to come out with a good class degree then a poor degree in Maths. Therefore, if you want something applied, my personal advice would be to go for Mathematics and Economics or Econometrics and (Mathematical) Economics.

The important thing to note is that even in Econometrics, you'll still have to learn the pure mathematics before you apply it. However, Econometrics is applied mathematics with a specific intention - in a Maths and Economics degree, some of the Maths courses you'll have to take will be abstract and solely for the sake of learning Maths, which won't be of much direct use to you in your degree (although very useful in your career).

Just to get a flavour, take LSE's two degrees: Mathematics and Economics and Econometrics and Mathematical Economics. The course content is below - have a look and see which you prefer. That might help you decide.

BSc Mathematics and Economics (http://www.lse.ac.uk/resources/calendar/programmeRegulations/undergraduate/BScMathematicsAndEconomics.htm)
BSc Econometrics and Mathematical Economics (http://www.lse.ac.uk/resources/calendar/programmeRegulations/undergraduate/BScEconometricsAndMathematicalEconomics.htm)

Hope this helps. :smile:

Sen

P.S. 'Ridiculously high' is another way of saying 'it's so high, it's ridiculous!'

Reply 11

bosejiu

OP

I'm very grateful for your advices :wink:

One more question - what you think about BSc Accounting and Finance ?
http://www.lse.ac.uk/resources/calendar/programmeRegulations/undergraduate/2006_BScAccountingAndFinance.htm
It also consists econometrics paper and Corporate Finance, Investments and Financial Markets paper, which is the most interesting from my perspective.

Now I have to return to Personal Statement writing, should I strictly keep to the rules of PS writing or is better to create something unique but not entirely compliant with rules?

Econometrics or Economics?

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