6 Biggest Lies About Majoring in Economics

[@MarketPowerYT]

What other lies have you heard about studying economics?

[@Doritos-ik5eu]

"Accounting / Biz Admin concentration in accounting has more jobs and is more useful." This line was uttered by complete tards on Reddit. What I believe myself: "Econ + STEM = The good life Accounting / Econ by itself at a low tier university = Wageslave / barista"

[@vajanselvaratnam2415]

accounting + bussiness studies = economics

[@elishaedison3807]

instablaster...

[@ResilientFighter]

@market power you should do a video on El Salvador adopting bitcoin as a national currency. that is very interesting.

[@MarketPowerYT]

@@ResilientFighter Next week's video happens to be about El Salvador! Not Bitcoin though.

[@wayneruan7711]

but economics degree feels so generic. all my econ major friends got jobs NOT because of what they learned in econ classes, but because they learned skills elsewhere

[@rayc3103]

😂 that happened to me. I’m now a web developer, but I have created web apps which used stats and prediction models on my own. I couldn’t have done this without an economics degree

[@spinebuster9490]

Economics is everything = microeconomics, macroeconomics, financial economics, health economics, public economics, environmental economics, energy economics, urban economics, econometrics, development economics, international economics, agricultural economics, behavioral economics, experimental economics, transport economic, tourism economics. Just to mention a few.

[@MicahXrin456]

Agricultural economic ❤

[@packetmuncher2404]

Political?

[@Lazymath007_]

@@packetmuncher2404 could that fall under international economics? I am not sure...

[@packetmuncher2404]

Naughty Ninja - Well there’s local political economy; the kind that is done within a country.

[@LM-he7eb]

Econometrics 😍😍😍😍

[@Rolanibrah98]

Spoken like a true economist. "Let's look at the data!"

[@weesiangtay5421]

I'm currently working as a data analyst in a medical school, graduated with a b.a in economics in 19'. Starting pay was way above the curve, and the best part is that lots of projects allow you to continue refining and developing skills you've learnt from your undergraduate courses.

[@lakshyav6330]

can you pls describe your job position and your place of work as it would be really useful for a person like me who is currently in high school

[@azalfatai7304]

That's great!! I have completed ba in economic and now pursuing ma in economics.. But I still haven't got a job yet.. How should we go about for jobs like these??

[@weesiangtay5421]

Just saw these - to work in academia you need to publish papers in related fields. If not, you'll need to self study. Economics has many applications, you need to tailor your experience to the job

[@priyanshuvettori5179]

What benefits you are going to get if you get a masters?

[@WayysToStudy]

Why 19 which grade did you had to repeat

[@jackbinfet5719]

Make me feel much better about being an Economics major! Thank you!

[@MarketPowerYT]

Awesome! I have a few other videos like this one coming.

[@nosplant1108]

@@MarketPowerYT Made me feel better about my major in Economics too! Thanks for the video :)

[@leonardosantoso8307]

Whats the difference between BA econ, BCom econ and bachelor of econ?

[@abi_hajdari]

@@nitumoni3519 Im reading your comment after 2 months Im a student in software development at half of first year but Im leaving and changing to economics...It is way easier. But you do whatever you love man. You have to work hard too to be successful.

[@GraceCole-qy6ul]

What job do you want at the end? What are you paying money to be trained on? Learning too, but you go to uni for career reasons if you aren’t just consuming pwetty lectures lol

[@ska187]

I graduated as an Economics major and using to delve into data sciences. Econometrics is very fun to learn if you love math. Regressions and then turn into learning neural networks is a path for you if you want it.

[@MarketPowerYT]

I agree. I haven't personally worked on neural networks, but my background in econometrics has helped me understand the fundamentals about them.

[@Pete_xp]

Hi Ska, Market Power. I'm in my final year of my undergraduate of Economics. What can I do to get into data science? Any recommendations, thoughts? It looks really interesting, I love looking through data and such. Let me know😄

[@ska187]

Pete I’m glad you asked! There are several ways to get into data science. You could always take a course online about it that focuses on using python, R, SQL, and excel. You probably have to do a final economics paper like I did using regressions which is perfect for sklearn and matplotlib. I would recommend learning python and relevant packages like numpy, pandas, matplotlib, sklearn, scipy and maybe tensorflow if you want to delve into Machine Learning and AI

[@Pete_xp]

@@ska187 Machine Learning and AI look fascinating. I will be starting with the basic languages (HTML, CSS, Python) and work my way up. Thanks

[@Pete_xp]

@@ska187 and R, SQL!

[@graysooon]

im majoring in economics and this just made me even more motivated. thank you!!

[@MarketPowerYT]

I love hearing that. Stay on it!

[@Eduardocruz003]

I know this comment is the last thing you would ever recall. I'm just in the edge of going to my undergraduate year and want to know the rigor of the content taught. Aswell as how much of what you've learned could help you out if you suddenly become the owner of a conglomerate. Thank you

[@nitumoni3519]

@gray I am weak in mathematics.i love web development.. But math is the main problem,as I know computer engineering is fully based on math . I am really confused about choose my subject . Could you please give me suggestions which should I choose ?? Economics or computer science???? Please answer me . Please . 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏

[@cesarcossio4042]

I majored in economics, did internships in banking, consulting and finance. At the end I decided to get into finance buy-side. The bases that I have learned from my economics major has been EXTREMELY useful as an Investment Analyst. Also, it only took me less than 1 month to get a job after graduation. For anyone that is passionate about economics, go for it, it is one of the best major that you can take and you can transition into any business related area afterwards if you do not want to do your masters or PhD.

[@MarketPowerYT]

I love hearing these success stories. We need to get more of these out there.

[@saacidomar8752]

Hey dude is there too much Mathematics in Msc of Economics like Too Much Calculus and Statistics please respond I'm afraid of that stuff

[@nuntissonne3943]

Is economics good for getting a finance job or should I go for finance?

[@ProfessionalsProfessional]

Heres a different outlook on an economics major. I have no intentions on being an economist. However the major gives me a variety of different skills and tools that are valued in many job fields. Depending on how it’s taught, economics is a combination of a multitude of fields; Business, Finance, Analytics, Statistics, sometimes Political Science and/or Computer Science, Sociology, all wrapped into one major. It’s an extremely versatile and reliable degree that can qualify one for a variety of different jobs. Great video.

[@alltheworldsastage4785]

So, basically it's like Business Management?

[@mirandaaguirre6687]

I love your excitement when talking about Economics. I am an Econ major, and I just got excited to apply all to schools all over again. :)

[@khadijahpinardi]

thanks for the encouragement! i was super anxious about majoring in econ due to my lack of math skills but your video made my day! i believe that i could improve my math later in the journey:)

[@MarketPowerYT]

There are so many math resources. One channel I love is @3blue1brown. He helps you get excited about math. Here's an example: kzbin.info/www/bejne/fnbJeXmpm6yLoNU

[@khadijahpinardi]

​@@MarketPowerYT thank you.. will definitely use the recommendation:) have a good day!

[@maxcash4707]

I got a BA in business econ and made 6 figures in banking - moved to another state and still pulled out $80k with no market experience - going back for my ma in econ! I love econ gave me alot of whys

[@ArjunSingh-fj6ik]

I am at a point where I have to choose between Engineering in computer science or Economics. When you said about your similar dilemma , it felt relatable AF !!!

[@MarketPowerYT]

They're so compatible! Just today I wrote a quick program to grab data for my economic analysis. Develop both skills!

[@eyyaa1816]

omg m at the same point

[@alexgriffith1105]

@@MarketPowerYT This is so good to hear. I'm doing computer science and economics and I was afraid that I was making a bad decision in doing both. And I enjoyed your video.

[@Cortesevasive]

@@alexgriffith1105 to be honest the video is bias

[@newagain9964]

CS Engineering degree. Bruh. You’ll have countless opportunities for the rest of your life. Economics...not so much.

[@jakkeddaw]

I think this is one of the most important videos you've done. I remember when I went to switch my major to Economics, I was told that "it's not a real major unless you get a PhD." Since then I've heard several of these lies from loads of people, including fellow economics students. Also, please bring back your freshman year haircut.

[@komalbaig38]

Yes please answer this

[@inshafatima4778]

Hllo did u switch your major can u plz tell me ur past major. Actually right now I m doing masters in political science and I m thinking to switch it to economics before 1 semester exam

[@Americanheld]

Your channel has single handedly convinced me to commit to a Finance and Economics masters program. Thank you for putting this info out there, you’re doing great work!

[@ri1g386]

Hey! I’m thinking of getting a bachelors degree of commerce with majors in both finance and economics. Since you are going to master in the same majors I want to know if it Is a good idea?

[@1950sbaker]

Here's the thing: if you don't like mathematics, don't major in Economics. It may be a branch of social science and humanities but you're going to be loaded in math subjects (not only algebra and statistics) , which are major subjects. That's all I can advise because my best friend is an economics graduate who detested mathematics so much.

[@TrampConnoisseur]

This is very much a blanket statement. My institution offers a BBA, BSc, and BA in economics and each is highly customizable. Most of the math required only requires college algebra. Everything else is considered an elective if you would like to focus your degree more on data science.

[@AnxiousJoe]

Applied to college for chemical engineering, fell in love with economics during my high school senior year, being pressured to major in CS... ThIs video was so helpful you don't even know

[@MarketPowerYT]

My freshman year I was planning on majoring in CS, but I realized that was not the path I wanted. But then the skills I picked up in CS helped so much in my career.

[@AnxiousJoe]

For sure! CS is becoming so prevalent everywhere now. Thinking about doing a Econ or Business + CS double major!

[@tingxuanqu1631]

@@MarketPowerYT Do you think it is necessary to study CS as a major/minor in order to obtain those CS skills? School teaches more rigorously, but I am suffering from that:{

[@MarketPowerYT]

@@tingxuanqu1631 No. In fact, CS programs will focus on very theoretical issues, not the practical. Probably the best thing to do is define what you want to accomplish and then learn the skills you need.

[@irock550]

I also realized I really loved economics in my senior year as well!! It was when I took SUPA econ

[@EXISTENTIALization]

I fell for the fallacies list in this video and majored in accounting and info sys ops mgmt. I minored in economics because I still loved the subject. 5 years into my career, I'm contemplating getting a masters in economics.

[@MorriganSlayde]

WOW I thought going into this "I probably should have watched this before my third year" BUT YOU MADE ME FEEL BETTER. I knew about the jobs though cause I'm doing a minor in Stats. I am slowly gonna get my Masters in Econ and a Bachelor in Stats - Econometrics is my thing. And my favourite econ teacher worked with fisheries for sustainable fishing....another worked with Nudge theory and behavioural economics to get vaccines attrition rates higher...like those jobs are BAD ASS. AND I WANNA DO EM.

[@Shaes_Projects]

Best of luck, that sounds like a really good combination!

[@andrewgonzales5161]

The issue is that some people who study economics don’t actually perform labor. And despite their academics, the same issues have existed for centuries.

[@andrewgonzales5161]

I have a six figure bank account and didn’t study economics. Is he credible?

[@peachsehunee5123]

I’m doubting before cus I’m not really into math, but I’m not that bad either and I think you just convinced me to take economis for degree!

[@MarketPowerYT]

Awesome! You can do it!

[@MariaMangru]

I'm starting university as an economics and political science major in the fall and was worried about job prospects but I this really helped! I picked my double major solely based on my interests and this is where I ended up :)

[@MarketPowerYT]

I did a whole other video about job prospects! kzbin.info/www/bejne/onrOaaRsYrGBiLc

[@livewithashley]

omg this is LITERALLY MY COURSEEEE

[@MariaMangru]

@@livewithashley Have fun!! I ended up switching to Econ + Stats and Data Analytics 😭 first year poli sci was just a lot of writing

[@TrampConnoisseur]

My aunt asked me at Christmas what I can do with an economics degree and I told her Idk

[@pandaonsteroids5154]

Thanks for this video. It uses real statistics which is what I love. I got accepted into Mercer University for economics this fall, and I had a hard time in the first place deciding my major. I've learned in sociology that economics is a huge driver of everything in the country. It's literally the most influential societal institution. I find economics seems like the perfect middle in between social and hard sciences for me. With this video, I am more confident in my decision and hope my future actually means something. Thanks.

[@MarketPowerYT]

Economics is a rigorous science like physics or chemistry but it studies interesting things like people and society instead of inanimate objects.

[@avenue7490]

Thanks. I really liked your video. It’s hard to figure out what to study when I’ve found very few academic interests but videos like yours help a lot.

[@MarketPowerYT]

That's great to hear! Hopefully the other videos get you excited about economics.

[@abands5082]

Economics majors have huge opportunities for various parts of the business field .

[@MarketPowerYT]

Not a lie!

[@newagain9964]

Oh yeah. Like what?

[@abands5082]

@@newagain9964 basically any job in Corporate Finance, Banking, Accounting, you can work for government agencies. That’s just a few but look it up online, there are endless career paths you can get yourself into. I’m not an Economics major but it’s still what’s up.

[@rassta35]

Thank you so much for this video. I really should watch it every now and then to stay motivated. I don't like economics yet but I have no other choice

[@crister221]

Thank you so much for this video, i needed this kind of things to convince me to study economics. I am from argentina and i will go to USA (the best country) to see if i could get a job related with economics. I send you many greetings from Buenos aires!

[@MarketPowerYT]

Happy to hear that the video made it down there!

[@jlpr506]

Vamooo ya somos dos argentinos jajajja

[@crister221]

@@jlpr506 esaaaa jajajaj

[@camd4648]

The USA welcomes you!

[@crister221]

Cam D thanks bro

[@issambouhaddaoui5467]

gotta love the energy, one of my favorite videos so far.

[@trunksgaming44]

Hey bro thank you for this video. I’m going into my senior year and this is great energy lol!

[@varrien4310]

Well said Craig !. Good points , clarifications, about the discipline . So very true , the math part of your video.- me too , falied miserably in high school , then had to and/or got to like it in college . True it's pretty quantitative in many areas of the subject, but very doable once one gets the right training, guidance , and adopting a learning attitude (aka might as well learn to like it , do the math , rather than kicking and screaming all along the way - if you like to succeed in economics ).

[@mehedihasan-ye3pg]

When you hate studying Economics, salary is the only incentive to not regret.😐

[@oliviacalton8477]

if u hate something, don't do it for the rest of your life, and don't do it for money, if u love something even with less money you will be overall far more satisfied and will have a better quality of life long term

[@Iloveyou-lz7rr]

Facts😐

[@aena5995]

@@oliviacalton8477 i am trying to figure out wht exactly to do with my lifee , was considering medical just cuz society expects tht even tho i know i dont like science labs etc as much , i was considering law,economics or pilot training nd i literally never felt so lost beforee :(((( serious advice help needed here uni is also something i wanna experience and i cant decide if i should do pilot training cuz tht uni experience wouldnt be there i wanna make frnds and memries but also earn alot of money and be successful like i always wanted as i come from a middle class background sorta .. also this whole corona virus BS made me consider whether its a good idea to enter uni when everthing is online currently and for awhile it seems :(( wht do i do , almost felt sucidal ngl

[@Bellg]

@@aena5995 a lot of us are in the same boat. All we gotta do is stay in the boat and we'll find our way some day.

[@wowwq9744]

Is the salary good? I heard it isn't unless you get a masters degree.

[@thatotau7478]

I'm about to graduate business administration. I plan to start with economics masters in a year. Been thinking about how to plan for a double masters, economics and information systems. Thank you, your videos are awesome

[@Roy-mk9zl]

I am going to do an MBA after BSc in Economics(with Maths and stats)

[@midori.baudelaire]

Damn. I just discovered your channel today and im alredy doing marathon over your videos. hahaha keep it up! And nice background tho, loved it! haha

[@MrLegenda13]

The one thing I hate is that almost every job offer I have searched for economists assume you are an accountant. Almost every offer for economists tell you to do accounting, I understand why they would ask that since I had 2 accounting classes but that isn't the main thing we study or look at. None of my economics professors ever worked in accounting so, I don't know why they think we are accountants?

[@mishan6771]

Economics is literally everywhere 🔥

[@seiendlichverfuegbar]

At least in Switzerland, economics is a good degree in term of finding a jobs. Just be aware that if you really focus on economics and be successful, you will basically study mathematics and statistics.

[@erickfernandoochoarosales1003]

hiii im from mexico,i was looking for channels of economist in my native language which is spanish but i didnt find good channels,and then i realize that there is a lot of information about economist in english that i could learn,and found your channel and im very happy of have found your channel,i am studying economist and i live too mucho your content:))

[@samuelsmith8934]

Great video! I am just about to graduate with a bachelors in Business Economics (I am from the UK, we don't have a major system here). Weirdly my experience is that when I tell someone my degree they automatically assume that I'm guaranted a well paying job😂 Maybe that's just a UK thing (they're not wrong stats show Economics has the best pay potential after Medicine in the UK). You 100% correct about the other 5 points though! My advice to anyone thinking about Majoring in Econ would be to focus in your first year maths classes they matter more than you realise. I turned up hungover to all my maths and stats classes and paid the price in my second year😂

[@MarketPowerYT]

Someone else suggested that in other countries economics majors are pretty respected. I wonder why that's the case. Maybe there's a chance to do a video on that!

[@siphokazileratomalinga2969]

I have noticed that salaries for Economists in the UK are much higher than for other disciplines. There's also always a demand for Economists there. I'm from South Africa and in my 1st year my lecturer pretty much told me Economics doesn't pay well. Gosh even an Economist at the company I work for said so when I 1st joined the company 🤞😭😂🤦. I don't work as an Economist but can say the pay depends on where one works. A lot of people that majored in Economics don't end up working as Economists.

[@samuelsmith8934]

@@siphokazileratomalinga2969 You're absolutely right it depends greatly on regional/national demand, along with the types of jobs available. The UK's financial sector is massive so we have high demand for economists. Who typically go into roles in investment banking, professional services or in house finance rather than direct Economist roles (which tend to pay well, but still relatively less).

[@samuelsmith8934]

@@MarketPowerYT Sounds like a great idea..."The Best Countries to Work as an Economist".

[@siphokazileratomalinga2969]

That will be very interesting. Perhaps do a video too for popular other disciplines amongst students. The comments here are quite diverse and in other videos, there are lots of Science majors.

[@giialiinh]

2:59, he assures you he wont tell you whose unemployment that is

[@abdullahahmed3843]

I’m in high school, I just live economics, so many people have tried to dissuade me from doing it just to take me to science field but, it’s my field of interest. I’m passionate and this is what will help me excel in my life. Economists have great incentives in their lives, starting off business and being your own planner(you’re an economist). It’ll pay off, but, economics mixed with stats and actuarial maths is a 🔥.

[@MarketPowerYT]

Lots of opportunity in economics--arguably more than most of the "science" fields. (I put science in quotes because economics still uses the scientific method.)

[@baldponder]

I’m an Econ major currently going into my second year. Thinking about switching to bio to do something more health related. I also have always thought that with Econ you are limited to mainly like office-type jobs with less hands on work.

[@MarketPowerYT]

I guess it depends on what you mean by "hands-on" work. But there are a lot of economists who work in health trying to improve the market.

[@newagain9964]

A lot of jobs and money in health. Economics...lolz. No one cares.

[@alecmac6975]

Heath economics is awesome just learned how to calculate QUALYS and how they’re used to make decisions in the heath field. We used it to determine the physical cost of a violent crime against a person. Your pretty much predicting how much output a person is going to have in the future.

[@듈이-k2b]

I am a junior majoring in Economics, trying to blow in some meanings in my studies ( bc it frustrates me so muchhhh I keep forgetting why I started!!!!!) so thank you Mr MarketPower you inspired me!!!! I renewed my passion right away! I could totally relate to the math part, I finally understood why I had to learn mathematics all along teenage years :)

[@MarketPowerYT]

School does a good job discouraging learning. I think KZbin is a great place to get people excited about economics!

[@MarcPhilipGoodman]

I’m biased in that I majored in Economics. But I truly believe it’s one of the best degrees for truly understanding so much about our world and becoming a better rounded person. We learn statistics (which can help in understanding how the media manipulates numbers, and helps you not be so easily dissuaded), we learn maths, social studies like psychology, computing so we can process all our data, data science… and of course, most importantly economic theory, both big picture economics that affects governments and our life (macroeconomics) and economics of businesses and personal finance (microeconomics), we study about banking, poverty, public policy. Honestly it empowers a person so much by really showing them how to be a more informed citizen. Any of those skills are easily transferable to any business, especially in the decision making elements.

[@anonimanonimov5514]

you are the best at elucidating everything about economics for us in an accessible, friendly and motivating way. Thank you! Keep up this marvellous work!

[@ConservativeHippie001]

The awesomeness of the comic setup in it background is so distracting. Love it. 😻

[@thequiickbrownfox]

i come from India, and the fact that students bagging top corporates like McKinsey, JP Morgan, Bain & Company, American Express, D.E Shaw to name a few, by completing their UG in Economics, show that how much employment opportunities are there for this degree, even in a considered third-world country (though one cannot overlook the fact that India performs way well than other developing nations). Ofcourse, it is contingent on the universities you are pursuing your graduation from, but then this seems to be the usual situation for most of the majors as well.

[@Antowan]

I know this video has been out for a while but you inspired me to pursue a master's in econ once I graduate. I did the research and it is a welcome degree in my state and area so thanks!. Keep up the great videos I've been subscribed for a while and I have to say I'm impressed

[@MarketPowerYT]

Seriously, it's the biggest complement to hear this kind of stuff. Thanks for commenting!

[@EasyKiwi111]

I did ‘good’ in the prerec calculus and economics classes for macroeconomics with calculus, still managed to get a D in it. So yeah he’s right, you don’t have to be good at math to major in economics 😂

[@biplobhossain8260]

Oh,it was perfect! 😃😃

[@EasyKiwi111]

@@nitumoni3519 maybe be a degree in management information systems (it’s a business degree)? It’s got to do with applied economics and tech, but it’s not math heavy. Also you can find some good jobs. But honestly I you should go with your gut...

[@TheDMG187]

Economics is by far the most ideological social science. having majored in political science and being now taking a master in economics in a university which has a departmental slipt between neo-classical economics and various strands of the so-called heterodox economics, getting into a competition to decide who should direct which degree (there are like 7 or 8 separate ones in economics in the title, and more regarding HR policy, development, sustainability), I can tell you that there is a large ideological battle. The notion behind homo economicus is certainly a very strict ideology. If you are into development economics you can surely see the bigotry from the mainstream side of the field

[@OluseyiEmmanuel87]

You are very right about the 6th lie. Robert Emerson Lucas Jr. (1995) Nobel Laurent winner in economics, had BA in History and Ph.D. in economics. He never had a mathematics background but ended up becoming the Father of the rational expectations theory, becoming the central figure behind the neo-classical economic theory, and the Doctorial supervisor to Paul Romer (another 2018 Nobel Prize winner)

[@royalfinest]

The problem with economics major is, there exist overlaps with other majors such as finance and business majors. For example, management accountants do their work like an economist in a factory environment. Business major do excel in linear programming. Financial analyst is basically an economist dealing with money and funds. Unless you chose the public sector path, employers often hire other majors and rarely employ pure economics major. This happens in physics as well. Pure physics not getting much if compared to engineers.

[@spicyshiba508]

Sophomore Economics/History double major here. Hopefully going to work in analytics or marketing after college. Great video!

[@RMatt2016]

omg. same. I think history and economics is a good combo for marketing and analysis because it gives some background in qualitative research and quantitive research. Also, history gives excellent literary skills which is good for marketing

[@justinkendrick701]

Thank you for this video! I am very interested in development economics and I have been wondering about how founded some of the myths you mentioned are. What you said about the salary was very encouraging to me! Thank you!

[@MarketPowerYT]

In your other post you mentioned masters degrees in economics, so I want to add that there are good options for masters degrees in development economics. Here's one blog you can read: chrisblattman.com/2013/10/04/what-ma-mpa-or-mia-program-is-for-you/

[@margarcia4841]

no idea really what economists do. but now im relieved that myth busting is available.... all jobs are important

[@Bobxchen333]

Correlation does not equate to causation. The graph shows that there is a correlation between economic majors and their salary. I suspect that a lot of economics major also take a lot business and accounting courses. It is those skills in accounting that got them a job.

[@MarketPowerYT]

That's an interesting hypothesis. I don't think that's true about economics majors taking those classes, but you still have a testable hypothesis. If the true value of an economics major is that they take business and accounting classes, then people who major in business and accounting should have higher salaries. Here are average salaries from the NCES data (web.archive.org/web/20190330130900/nces.ed.gov/programs/coe/pdf/coe_sbc.pdf) Accounting: $55,400 Business, general: $50,290 Business, management: $48,280 Marketing: $50,200 Economics: $60,350 You're definitely right that correlation is not causation, and in the video I'm not making a causal claim. And maybe you're right about the value of business and accounting classes. But the salary data suggest that the economics part is still adding a lot of value.

[@Bobxchen333]

@@MarketPowerYT Could it be Actuary? A lot of people major in economics and take the actuary test to become an actuary. I understand that economics does involve more math than regular business/accounting majors. Most colleges don't offer actuary science as a major, so they major in economics and prepare for the actuary exam. As you have said there are NOT so many economists position out there, so if they are not economist they it must be some kind of skills they learned while earning their degree that allows them to get a high paying job. I wish I can know more about the story behind the number.

[@moonrider997]

How can people think there are no jobs for Economics majors? Not only are there thousands of jobs openings specifically for Economists and different types of financial specialists, but it is a degree which gives a whole host of transferable skills. I can understand people saying there are no jobs if you major in Geography or Art History (although these can still give great transferable skills), but Economics, seriously?

[@MarketPowerYT]

I know, but it is without a doubt the number one concern my students have when I talk to them.

[@moonrider997]

@@MarketPowerYT I just find it so weird tho, in my country it's literally one of the degrees your parents would push you towards because of it having relatively high employability.

[@jeremie8167]

I'm majoring in economics in Montreal in Canada and I can not agree more with these six answers you just provided. I liked the answers to those, but I also loved the way you answered to it; with data (fact based statistics). I haven't checked, but I'm pretty sure the statistics are basically the same over here.

[@MarketPowerYT]

I'm so happy to hear that. I'm glad your experience is similar.

[@sublime9525]

Hey man! Greetings from Nepal! I randomly came across this video. I really liked it. I am currently working in an organization led by Michael kremer and I am starting PhD in agricultural and resource economics in a few months. I am also into development economics. Hi five

[@MarketPowerYT]

Awesome! Where are you doing your PhD?

[@sublime9525]

@@MarketPowerYT illinois

[@ballifjulien9640]

Thank you so much for this video and your recommandation for the podcast.

[@SnareDrum530]

Thanks for this! I'm an econ major :)

[@MarketPowerYT]

Awesome! Glad you found the channel.

[@Rudi361]

6:35 Considering asymmetric polarization this isn't a good case. But I guess I get what you mean. But it misses the point. The point is that the economic theory and fundamental concepts was doomed to be biased to a side.

[@scott1564]

I started in Econ and never changed my major ('80s) though I did change secondary or minor. My first school didn't really have a minor and their Econ department was in the B-school while the one I graduated from did have a minor and their Econ program was in the Liberal Arts school, though they offered both a BA and BS. I got a BA but fulfilled all the BS requirements as well. Anyway, if I did it all over again, I'd take the introductory Econ classes, the intermediate classes, and maybe 2 other undergraduate classes, Math through Calc 2 or 3 and Linear Algebra, and go get an MS in Econ -- probably part time while working my first job after college. Why? Undergrad econ is fine compared to other undergrad subjects but, standing on its own, it really doesn't hold a candle to the grad stuff, especially the math based stuff. I went to a school with a top 25 Econ program and all the math was essentially given to us (sort of like high school physics), yet the underlying math IS the econ you need to know in order to be productive. Can you be a banker, trader, other financial professional (or a lawyer like I am) with "only" an undergrad econ degree? Sure. No sweat. But that's SORT OF like saying you can get to work, to the store, etc. in a Toyota Corolla or you can go do all that plus go on weekend drives in a Corvette. Not a perfect analogy by any stretch but it does work. And again, this is just for ME and for MY TIME. Now, with classes expanded to financial economics and other, better applied econ classes than there were when I was a student, the discipline has vastly improved at the undergraduate level.

[@premgandhi4484]

I completely agree. I go to a lower ranked school for Econ and found that I didn’t want to skimp on the math side of Econ thought I’m not the best at it. I ended up choosing industrial engineering because it’s much easier for me to go in to Econ than actually getting an Econ degree in my opinion.

[@alexanderkaiser89]

I have a Master’s in Mathematical-Economics 🙃 A little different, but not so much after all. Though, my field of expertise is financial analysis and value investing.

[@hollykm]

The joke at 3:00 made me subscribe

[@patfuss8998]

I just finished my freshman year as an Econ major and loved it until quarantine when it became harder to learn online. But I’m excited to take the classes beyond just micro and macro because there’s so many questions I still have I can’t wait to have answered in the later classes

[@asthereal1502]

Should I be worried about the maths? I’m starting next year.. what areas of math do I need to brush on / what else can I do to get ready

[@noraizhaider4924]

@@asthereal1502 plz reply

[@noraizhaider4924]

@@asthereal1502 should I worri about maths?

[@asthereal1502]

@@noraizhaider4924 depends what uni bro. im doing bachelor of arts this semester but hopefully doing economics next year. don't know if I. have the drive to learn all the math though because I haven't done it in almost 2 years. my uni there will be significant amount of maths in Econ degree, some uni's will be more written then mathematical though just do research

[@noraizhaider4924]

@@asthereal1502 is math In ecnmics really hard am interested but a little scared so do u have any idea effort is demanded in every type of degre but is math or stats really tough one or interesting on?

[@littlechepe96]

Economics majors hate politics so makes sense we have both parties about equally. At least from what my professors talk about

[@joaomacedo3722]

Just switched from economics after a year to finance. Hope I made the right decision :/

[@Justin-ev8nn]

Finance degree has more marketability than an Econ degree, imo.

[@aena5995]

@Vladimir Putin i am trying to figure out wht exactly to do with my lifee , was considering medical just cuz society expects tht even tho i know i dont like science labs etc as much , i was considering law,economics or pilot training nd i literally never felt so lost beforee :(((( serious advice help needed here uni is also something i wanna experience and i cant decide if i should do pilot training cuz tht uni experience wouldnt be there i wanna make frnds and memries but also earn alot of money and be successful like i always wanted as i come from a middle class background sorta .. also this whole corona virus BS made me consider whether its a good idea to enter uni when everthing is online currently and for awhile it seems :(( wht do i do , almost felt sucidal ngl

[@asthereal1502]

Justin do you really think so? How come

[@asthereal1502]

Aena Mustafa bro ur not gonna get good advice on KZbin comments if u want genuine advice talk to your school careers officer or email the university and try to line up interviews with students and ask them

[@Justin-ev8nn]

Asthereal It really depends on the school. Some schools econ program is very broad and not math heavy. However, if your Econ program has a lot of required math courses then that’ll make the degree more worthwhile.

[@UrbanEconomist5]

I have a BSc in Economics and i have a very stable career with a great salary that continue to grow as I grow. Im in Project Management right now but I also conduct research and apart of many academia aspect of the Economics world. You can be free with the degree, more so than any other degree from a business standpoint.

[@NathaliaAlawan]

2:10 real econ majors hold receipts through data 😅

[@monanoorch8699]

Oh ya

[@jimgood1949]

You may not need to be an expert in mathematics to succeed in economics, but it certainly helps. If you take several semesters of calculus, series and differential equations, linear algebra, analytical geometry, and statistics, you will set yourself up for some of the higher paying jobs in economics.

[@NathanLoveridge]

Okay, you convinced me

[@leandroduarte9153]

I'm from Brazil and I hear those lies here too. I've major in economics and I work like economist. I think that if you study hard and do your best you can get a job in any field. Opportunities arise, but you can create them too!!

[@MarketPowerYT]

Bem vindo! Onde voce trabalha?

[@leandroduarte9153]

@@MarketPowerYT Obrigado. Trabalho aqui no Brasil em uma consultoria financeira elaborando projeto financeiros para investimentos empresariais.

[@MarketPowerYT]

@@leandroduarte9153 Legal!

[@Kevinh1998]

I really liked your video and thought it was valuable information that you provided so you got my subscribe. The volume was a bit higher on certain segments of the video but overall it was really good.

[@immortaltrader]

I get number 1 every day from my family and friends. I am a third-year Economics student but non is proud.

[@angelusvastator1297]

I love how you back up your claims with data

[@koipen]

Re: economics is not about business/markets. There are about as many quotes as what economics is about as there are economists - incentives, behaviour, preferences etc. Nowhere in that list will you find money. For 80% of the stuff economists study (e.g. econometrics, general equilibrium analysis, environmental econ etc.), money is a tangential feature, a convenience or just not relevant! I didn't see a balance sheet until I started at my first job, and all in all during my career the degree has largely been irrelelevant - other than landing me that first job of course.

[@ethancorrigan7524]

well it got you the job thats all that really matters

[@jake______]

Point 3 - the accusation of ideology isn't about partisanship though. I'd be interested in seeing the percentage of economics affiliated with a major political party vs other degrees.

[@8d_trackz_official480]

U can get into Investment Banking, and after a few years u can jump into Private equity firms and hedge funds with an economics major, MBA would also help u

[@nacho3654]

awesome!!! i study economics in Spain, thanks for this video :)

[@Ms.Swag7]

HI! I wanna study Economics in Spain, as well. I would like to know more about your experience studying Economics over there. How could I contact you? (Thank you!)

[@northernlight1000]

Extremely helpful!!

[@Eristtx]

I have a master’s degree in economics. I’m curious about how interactions with sociologists go for other graduates because they systematically irritate me, and I’m not sure if I’m biased or if they’re genuinely somewhat unhinged. From my perspective as an economics graduate, sociology seems like a field that teaches you to identify sources of injustice but offers no actionable solutions. Yet, sociologists seem compelled to "solve" these issues due to their personal investment in them. They often miss the broader context and exhibit a tendency to search society for inequalities and, when they find something (usually some form of market failure that hasn’t been properly addressed), attribute it to capitalism. Over time, they conclude that capitalism is the root cause of all problems and that a better economic system-typically some version of communism based on love and equality-is needed. Initially, I found this amusing, coming from a post-communist country where it’s hard to take such ideas seriously. However, looking at American sociologists, it’s a whole different kind of chaos.

[@princegbadamosi6805]

Thank you so much for this video, I can finally major in Economics..i love it so much

[@charlesrichardson7174]

Got a BA in Econ, now working on my masters. At 26, I’m working in consulting making 105K

[@angelusvastator1297]

Lessgoo

[@ConservativeHippie001]

Dude I love research so much. I can tell you really did your research. This video is amazing! 👌🏽😃

[@ten6582]

My calc professor recently said I should switch to something like accounting… but I absolutely love do research and working with puzzle like math problems. I am almost 23 looking to transfer out of my community but they require a prerequisite before taking the calculus classes I need to transfer. I do not mind if it takes me a while to graduate while working despite my family depending on me. As much as I appreciate accounting I’d rather pursue studying econ and shoot my shot if anything worst case scenario I land a job in accounting as an econ graduate. Which coming from my background my family and I growing up low income with no one in an office job is not bad at all.

[@bobfrstcty]

Easy in!

[@ChrisMari23]

I’m doing it! Switching major!

[@MarketPowerYT]

Let's goooooooo!

[@Ezekill9]

Great video!! I agree with everything that you said :)

[@cer3alex_263]

The only thing i disagree on is the third point. Economics is not ideological in the political sense but at least here in spain we revolve around Keynesian point of view for 4 years and only mention other things slightly. It is sad to think that there are so many interesting market, bussiness cyle and more theories and we are 100% stuck with keynes just because it is the dominant theory

[@iqbalf1]

calling an economics degree worthless is virtually unheard of in the uk. here economics grads with just bachelors go far in finance and civil service :)

[@MarketPowerYT]

That's good to hear! Maybe I'm just hearing too many lies in the US.

[@julian.527]

I discovered I liked econ my senior year in high school and now I want to major in econ and public health! Definitely curious about the different focuses within econ

[@MarketPowerYT]

That's how I discovered economics! You might want to check out Economics in the Age of COVID-19 by Josh Gans. Super relevant econ/public health topic.

[@samuelj.maxwell5924]

I’m leaning towards studying an Economics degree. I am really motivated about the subject ,but I still have fear on the job opportunities. Pls is it possible that you list careers that you can acquire with just a BA in economics, because I don’t want to go straight to my MBA.

[@MarketPowerYT]

Check out this video I did! kzbin.info/www/bejne/onrOaaRsYrGBiLc

[@Burrgametate]

The average economist is 40 and the median economist is 32, so this chart is deceiving. So kids have to go to other fields, most likely finance and then go into an actual econ position. That's why there are so many jobs, because so many people aren't trusted to have the same knowledge out of college as someone that's put 10 plus years in a particular field.

[@nagukrithi5990]

This youtube channel is priceless !

[@MarketPowerYT]

Thanks! I'm trying to think of a clever joke about prices, but I failed.

[@JosepMariaDotrasPerales]

In Dublin, majored in Economics and can't find a job. Yes, with a good grade. I find that Economics is a degree that is worth nothing nowadays. Love to study it, but you are way better off studying either mathematics or computer science and then do an MBA if needed.

[@ilpaesedelmiocuore2637]

I am thinking about switching into Comp Science. I noticed that Economics is not a good major!

[@oBeYoPtIcZ]

I agree the more you do something the more the Neurons grow towards that something. I learned that from psychology.

[@derekd.4156]

I’m currently majoring in engineering however I want to double major with a bs in economics

[@MarketPowerYT]

That will be a good combo. Engineering and economics have a great overlap when it comes to thinking about how to solve problems under a set of constraints. Which field of engineering are you studying?

[@derekd.4156]

Market Power it’s called engineering science. It’s math heavy and include courses from multiple disciplines such as ME ASPE and EE

[@willingtonannor4459]

This video has really helped me a lot.I feel proud of studying economics.I take pride in that❤❤💘✌🏾

[@robbiem4624]

I was going to major in economics but because i never really have worked i was not sure how i can apply into this major. I left and did multicultural studies then that did not work out, then switched into agribusiness focusing on the business aspect. I finally got my bachelors after trying off and on for 18 years and am now 36. It was also the math and the graphs i had trouble if i had some positive reinforcement and help with it could have been different.

[@halihuang495]

Great video! Do you think you could talk sometime about economics vs. quantitative economics as a major? What are their unique implications regarding learned content, job selection, etc.? Thanks a lot!