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Finance vs economics msc?

Hi.
I should expect to graduate with first class. As my second year approaches it's end, I'm left contemplating the electives I should read in my final year.

If all goes well, I expect to enter my final year with around 78 ish cumulative average mark.


I'm actually currently on the fence between pursuing an econs msc or a finance one, partly because my interests are aptly put, in financial economics, in the realms of behavioural econs/finance. I know Cornell does pretty amazing experimental stuff so that's like my 'end' goal, to do a PhD at cornell.

There's also the issue that finance profs have an easier time getting tenured due to the abundance of business schools whereas it's a lot tougher to get tenured if i were to pick econs since there's definitely no shortage of econs profs. (or is this outdated info[cause most of the sites I've read when deliberating over the two are a couple years old])


Question 1: should I 'risk' my grades and take up econometrics and industrial econs (they call it that, but it's essentially an advanced microeconomics course), or should I play it safe and take up finance electives that I know are easy to score and bump my cumulative average mark to the mid 80s?

My predicament currently is that, a first class alone isn't sufficient for me, since I'm aiming for full or almost full tuition waiver so I have to get as high a mark as possible. The places that i'm currently eyeing are CEMFI and BGSE cause they seem to be pretty generous in awarding merit scholarships and tuition waivers.

Question 2: am I wrong to say that pursuing an economics msc is 'better' since the stuff I learn can be used, per se, if I were to eventually pursue a finance PhD? Whereas a finance msc wont be much 'help' if I were to end up pursuing an economics PhD.

Question 3:: is it true that if I don't take econometrics and sufficient math/stats modules in undergrad, it's going to be tough for me to gain admission into an econs msc?

Pardon the rambling nature of this post.

Anyone input is appreciated.
(edited 8 years ago)
Question 2: am I wrong to say that pursuing an economics msc is 'better' since the stuff I learn can be used, per se, if I were to eventually pursue a finance PhD? Whereas a finance msc wont be much 'help' if I were to end up pursuing an economics PhD.

I am currently a PhD student in finance, but I'm in a research group that focuses mostly on macroeconomics. So far it works for me, but I would not recommend it.

Firstly, the research interests of my colleagues in the macroeconomics research group are not aligned to mine. Although we use similar tools, we ask different types of questions and approach them from different perspectives. Note, by the way, that experiments are simply tools, and you can also use them to study topics in finance. Secondly, the departmental structure at many universities often separates finance from economics, lumping it together with accounting instead. While interdepartmental cooperation is desired and even expected, the fact is this creates a further gap between the two disciplines.

My advice to you is therefore: do not bank on being able to do a PhD in a field only tenuously related to your master's. It sounds like finance would be a better choice in terms of your research interests, but that is obviously something you'll have to decide for yourself.
Original post by tutonic
Hi.
I should expect to graduate with first class. As my second year approaches it's end, I'm left contemplating the electives I should read in my final year.

If all goes well, I expect to enter my final year with around 78 ish cumulative average mark.


I'm actually currently on the fence between pursuing an econs msc or a finance one, partly because my interests are aptly put, in financial economics, in the realms of behavioural econs/finance. I know Cornell does pretty amazing experimental stuff so that's like my 'end' goal, to do a PhD at cornell.

There's also the issue that finance profs have an easier time getting tenured due to the abundance of business schools whereas it's a lot tougher to get tenured if i were to pick econs since there's definitely no shortage of econs profs. (or is this outdated info[cause most of the sites I've read when deliberating over the two are a couple years old])


Question 1: should I 'risk' my grades and take up econometrics and industrial econs (they call it that, but it's essentially an advanced microeconomics course), or should I play it safe and take up finance electives that I know are easy to score and bump my cumulative average mark to the mid 80s?

My predicament currently is that, a first class alone isn't sufficient for me, since I'm aiming for full or almost full tuition waiver so I have to get as high a mark as possible. The places that i'm currently eyeing are CEMFI and BGSE cause they seem to be pretty generous in awarding merit scholarships and tuition waivers.

Question 2: am I wrong to say that pursuing an economics msc is 'better' since the stuff I learn can be used, per se, if I were to eventually pursue a finance PhD? Whereas a finance msc wont be much 'help' if I were to end up pursuing an economics PhD.

Question 3:: is it true that if I don't take econometrics and sufficient math/stats modules in undergrad, it's going to be tough for me to gain admission into an econs msc?

Pardon the rambling nature of this post.

Anyone input is appreciated.



Correct me if I am wrong.

Question 3:: is it true that if I don't take econometrics and sufficient math/stats modules in undergrad, it's going to be tough for me to gain admission into an econs msc?

To my understanding, answer to this is "YES"

Also, if you do not take econometrics and sufficient math/stats modules in undergrad, you will be close to "IMPOSSIBLE" to gain admission to a Finance PhD.

That means these are mandatory no matter what if you want to pursuit a PhD!

Just my 2 cents

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