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    Economics is known as the dismal science presumably because its pretty dismal. I would have more respect for economists if more of them had predicted the credit crunch because a lot of the signs were there couple of years ago.

    I would go for natural science if you want to study a subject grounded in real evidence and theory rather than the vagueness of economics.
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    (Original post by Grapevine)
    Econ at a top uni is pretty much the thing to do if you want to make it in finance.

    Rubbish.
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    No, economics is a well respected subject.
    You just have to study the subject you enjoy the most, else you won't be motivated and won't work to your best potential, so you probably wouldn't get the best results you could get and it would be a knock on effect!!!
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    (Original post by d123)
    No it's not a waste. I hate it when people say that the only subjects worth doing are engineering/medicine etc. 'Sciences' are not the only worthwhile subjects. It is only a waste if you do a subject you don't enjoy. Personally, I wouldn't want to study economics but if that's what you want to do, then do it.
    Medicine is the only 'real' degree.

    source: reems23.
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    (Original post by Maker)
    Economics is known as the dismal science presumably because its pretty dismal. I would have more respect for economists if more of them had predicted the credit crunch because a lot of the signs were there couple of years ago.

    I would go for natural science if you want to study a subject grounded in real evidence and theory rather than the vagueness of economics.
    Talking **** m9.
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    (Original post by Hedgehunter)
    Rubbish.
    OK, maybe that was a bit of an over exaggeration, but many bankers, accountants, management consultants and city traders all did economics degrees.

    Sure, a maths or physics degree (amongst others) would put you in a good position to pursue some sort of finance based career, but it can't be denied that economics is one of the most relevant, useful subjects in terms of the skills it involves and the knowledge you learn from studying it.
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    my parents dnt know anythin so i never ever got any useful advice from them! ever!!! >.<
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    (Original post by reems23)
    Talking **** m9.
    I think you are incorrect sweetie.

    Economics is an intellectual plaything, it has theories that can't be proved or proved wrong. Economists are only right in hindsight and can't agree on anything such as if bailing out banks is a good or bad thing. Economists adopt "theories" on whim and fashion, not evidence.

    They even had to sneak in a fake Nobel prize for it, Alfred Nobel never established an award for economics only Physics, Chemistry, Medicine/physiology, peace and literature.
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    (Original post by Maker)
    I think you are incorrect sweetie.

    Economics is an intellectual plaything, it has theories that can't be proved or proved wrong. Economists are only right in hindsight and can't agree on anything such as if bailing out banks is a good or bad thing. Economists adopt "theories" on whim and fashion, not evidence.

    They even had to sneak in a fake Nobel prize for it, Alfred Nobel never established an award for economics only Physics, Chemistry, Medicine/physiology, peace and literature.
    'Sweetie' Piss off mate.


    Stop pretending you know everything, you are literally talking out your arse. Read a book.
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    (Original post by SixthFormer08)
    Here's the thing: I want to study economics at uni and am going to make 4 of his 5 applications to top 10 UK universities. I have now been advised more than once (by a family member and a close friend) not to do economics, because I could do "so much better than that" and because "it'd be a waste of my intelligence"

    The alternatives that both were implying was physics and/or engineering... making technological breakthroughs and all that.

    Now, it's all well and good if people just said "do what you want to do, what you enjoy" and so on. I just feel like there's a chance that I may one day look back and resent it, because of something that I could have been.

    What I really want to hear, is if people genuinely think that economics is a soft science, or whether it rivals the prestige associated with natural sciences. I don't necessarily even want to be an economist, but rather in financial services, and even a lady from such a background told me that she'd "have more respect for someone who had studied physics rather than economics".

    Maybe I'm talking rubbish, but it does make you doubt yourself if several unrelated people say the same thing.

    Cheers.


    EDIT: O ye, and another good point: I said economics is what I want to do, but physics is something I would quite like to do. So, if it was a matter of, urgh, physics I hate, then the choice would be easy. The problem is that I'm interested in both, and in economics, a little more than in physics.
    I'm exactly in the same potion
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    (Original post by Maker)
    Economics is known as the dismal science presumably because its pretty dismal. I would have more respect for economists if more of them had predicted the credit crunch because a lot of the signs were there couple of years ago.

    I would go for natural science if you want to study a subject grounded in real evidence and theory rather than the vagueness of economics.
    The general public think they know everything about Economics when they know NOTHING. You are one of those people. People somehow think Economics is **** since the credit crunch.
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    (Original post by Grapevine)
    OK, maybe that was a bit of an over exaggeration, but many bankers, accountants, management consultants and city traders all did economics degrees.

    Sure, a maths or physics degree (amongst others) would put you in a good position to pursue some sort of finance based career, but it can't be denied that economics is one of the most relevant, useful subjects in terms of the skills it involves and the knowledge you learn from studying it.
    On my own experience (as stated in a previous post), whilst a few people in the Private Equity company my Dad works for did Accountancy or Economics, the majority did science or engineering degrees.

    However relevent Economics is, I think it is important to stress that one won't be uncompetitive in that career without an Economics degree.
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    (Original post by Maker)
    I think you are incorrect sweetie.

    Economics is an intellectual plaything, it has theories that can't be proved or proved wrong. Economists are only right in hindsight and can't agree on anything such as if bailing out banks is a good or bad thing. Economists adopt "theories" on whim and fashion, not evidence.

    They even had to sneak in a fake Nobel prize for it, Alfred Nobel never established an award for economics only Physics, Chemistry, Medicine/physiology, peace and literature.
    You're talking out of your behind. Modern economics theories are falsifiable. They have large amounts of empirical evidence for or against them. The problem in economics is not the lack of falsifiability but the difficulty of coming up with covering laws (meaning they tend to be probabilistic instead of deterministic). Regarding your other inane post, economics is called the dismal science because it originally made predictions that the world would be worse off (mostly Malthus) and was too abstract, not because it was inaccurate.
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    (Original post by [email protected]@y)
    I'm exactly in the same potion
    Aha, and what do you think then?
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    It looks like there are a lot of people trying in their various eloquent ways to defend economics. I think it would be more creditable if they actually gave a defence with some evidence rather than be defensive and use intemperate langauge.

    Anyway back to the OP, I think economics is a great discipline to do because its so vague and nebulous that when the economy tanks every few years, no-one would blame you and when you do get it right as you will by chance, everyone would think you know what you are talking about.
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    (Original post by Maker)
    It looks like there are a lot of people trying in their various eloquent ways to defend economics. I think it would be more creditable if they actually gave a defence with some evidence rather than be defensive and use intemperate langauge.

    Anyway back to the OP, I think economics is a great discipline to do because its so vague and nebulous that when the economy tanks every few years, no-one would blame you and when you do get it right as you will by chance, everyone would think you know what you are talking about.
    Says the person who clearly has no idea what the field of economics is about. Hint: predicting economic conditions is a tiny portion of the field, usually not done by the top economists.
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    (Original post by reems23)
    'Sweetie' Piss off mate.


    Stop pretending you know everything, you are literally talking out your arse. Read a book.
    Actually I know virtually nothing, I am the Vatican City of knowledge, an ignoramus, its so nice of you to notice sweetie.
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    (Original post by Bismarck)
    Says the person who clearly has no idea what the field of economics is about. Hint: predicting economic conditions is a tiny portion of the field, usually not done by the top economists.
    Arguing with an idiot is a pointless task.
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    (Original post by reems23)
    Arguing with an idiot is a pointless task.
    Even an idiot can learn new tricks. Or at least learn to some basic research before commenting on something.
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    (Original post by Bismarck)
    Even an idiot can learn new tricks. Or at least learn to some basic research before commenting on something.
    Hmmm.
 
 
 
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