Change from economics to maths?
Hi there, recently started studying a BSc in economics at a good uni, but been thinking recently about changing to maths with actuarial science, as I think I may want to go down the statistics career route and not sure if an economics degree will take me there. Maths has always been my favourite subject throughout school and college and I did well in it at A level, but I didn’t study further maths at A level and have also heard that university maths is extremely difficult and very different to maths in college. Am indecisive on whether to change course, as I’m worried I will find it too hard or won’t enjoy it as much. Also, I am interested in economics and find it to be an enjoyable and challenging degree, just not sure if a maths with actuarial degree would be better for me both personally and in terms of careers. Any help or insight is really appreciated. Thank you.
Original post by hbrton
Hi there, recently started studying a BSc in economics at a good uni, but been thinking recently about changing to maths with actuarial science, as I think I may want to go down the statistics career route and not sure if an economics degree will take me there. Maths has always been my favourite subject throughout school and college and I did well in it at A level, but I didn’t study further maths at A level and have also heard that university maths is extremely difficult and very different to maths in college. Am indecisive on whether to change course, as I’m worried I will find it too hard or won’t enjoy it as much. Also, I am interested in economics and find it to be an enjoyable and challenging degree, just not sure if a maths with actuarial degree would be better for me both personally and in terms of careers. Any help or insight is really appreciated. Thank you.
Hey @hbrton,
I hope you're keeping well! 🙂
Firstly, the fact that you can at least enjoy and be comfortable with both of your options is already a fantastic starting point - that's a strength on your side and something to really cherish.
Now, in terms of careers, economics can definitely open doors in the world of statistics, particularly in fields like econometrics, data analysis, and financial risk analysis. Many graduates go on to work in roles involving statistical modeling and quantitative research, so it’s worth considering if those areas might align with your own career goals.
If you are leaning more towards the mathematical and statistical aspects, especially with a focus on becoming an actuary, then switching to Maths // Actuarial Science wouldn't be a bad option either. What I would recommend though, is in the case that you're not exactly too sure what actuarial science is comprised of, it might be worth talking with some maths-oriented professors/lecturers (whether economics, maths, stats, or actuarial lecturers) at your uni and asking them for their advice, and what actuarial science involves. On top of that, why not visit and check out online forums for Actuaries, like on Reddit or somewhere, and have a look at what they're discussing and how they talk about their general day-to-day work?
Honestly, both programmes/options for you are solid in my humble opinion. I can at least say that here at Kent, we have a fantastic Actuarial Science programme, which is really well-regarded, teaching alumni who have gone on to work at some real prestigious companies, providing strong foundations in maths and stats, and even having exemptions from many professional exams! (Incredibly shameless plug, please forgive me!! 😭)
Anyways, you definitely have a point regarding the difficulty for university grade maths, however, I would wholeheartedly say, that with the right support - I think you could thrive at studying maths, given your passion for it (which it sounds to me like you do). Support doesn't necessarily have to be 1-1 with a lecturer either. For example, here, you can find plenty of resources, from personal academic advisors to drop-in question sessions to study-buddy sessions to organised peer study groups etc., to help with the transition to higher-level maths. Again, countless opportunities to work and improve in a more enjoyable manner.
Ultimately though, I'll return to my main point though, which is whichever route you choose, it sounds like your degree will align with your interests, and hopefully career goals as well. That's already an enviable position to have, and I say that to help boost your confidence a little (I hope it worked 😉). Regardless, try to talk to a trusted person close to you, whether it be at your uni or maybe even friends (though I would assume maybe uni can help you out with the finer details a bit more!)
Warm regards,
David 🙂
University of Kent Student Rep
Original post by hbrton
Hi there, recently started studying a BSc in economics at a good uni, but been thinking recently about changing to maths with actuarial science, as I think I may want to go down the statistics career route and not sure if an economics degree will take me there. Maths has always been my favourite subject throughout school and college and I did well in it at A level, but I didn’t study further maths at A level and have also heard that university maths is extremely difficult and very different to maths in college. Am indecisive on whether to change course, as I’m worried I will find it too hard or won’t enjoy it as much. Also, I am interested in economics and find it to be an enjoyable and challenging degree, just not sure if a maths with actuarial degree would be better for me both personally and in terms of careers. Any help or insight is really appreciated. Thank you.
Work through the first chapter of a real analysis textbook (just go to the library and borrow one). REAL ANALYSIS, not complex analysis, not functional analysis, none of that, it's too advanced. Alternatively, an intro to abstract algebra book, which is arguably a better test but it's also harder to know that you're looking at something entry level.
You don't have to complete it, but if you don't think "get this **** out of my pace" after page 4 then you might be onto something. If you do, just pick econometrics modules, hell maybe even switch to joint honours if your uni offers it.
(edited 1 month ago)
Original post by Filthy Communist
Work through the first chapter of a real analysis textbook (just go to the library and borrow one). REAL ANALYSIS, not complex analysis, not functional analysis, none of that, it's too advanced. Alternatively, an intro to abstract algebra book, which is arguably a better test but it's also harder to know that you're looking at something entry level.
You don't have to complete it, but if you don't think "get this **** out of my pace" after page 4 then you might be onto something. If you do, just pick econometrics modules, hell maybe even switch to joint honours if your uni offers it.
You don't have to complete it, but if you don't think "get this **** out of my pace" after page 4 then you might be onto something. If you do, just pick econometrics modules, hell maybe even switch to joint honours if your uni offers it.
Thank you both for the advice, really appreciate it. Real analysis is definitely something I'll look into to see if the course would be right for me.
One thing I am considering is potentially reapplying to a different university on a joint honors course for math and economics, as they don't offer an econ/maths joint course at my university.
Do you think if I were to just pick lots of econometrics and mathematical economics modules on my BSc Econ course, it could lead to a career in statistics/data science?
Original post by hbrton
Thank you both for the advice, really appreciate it. Real analysis is definitely something I'll look into to see if the course would be right for me.
One thing I am considering is potentially reapplying to a different university on a joint honors course for math and economics, as they don't offer an econ/maths joint course at my university.
Do you think if I were to just pick lots of econometrics and mathematical economics modules on my BSc Econ course, it could lead to a career in statistics/data science?
One thing I am considering is potentially reapplying to a different university on a joint honors course for math and economics, as they don't offer an econ/maths joint course at my university.
Do you think if I were to just pick lots of econometrics and mathematical economics modules on my BSc Econ course, it could lead to a career in statistics/data science?
Statistics absolutely, data science would heavily depend on what modules are available and what you pick. You'd need to learn python at the very least, and do a post grad.
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