Should You Become an Economist?

You may love following economic news and learning about advanced theories, but what can an economics degree do in the real world?
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[@eldrago19]

"The purpose of learning economics is not to acquire a set of ready made answers to economic questions but to learn how to avoid being deceived by economists." ~ Joan Robinson

[@philzan3627]

Pretty much this. The vast majority of economists are incompetent and have no idea what they are saying nor do they actually understand and adapt their understandings to real life situations. And the argument of big data is the same fallacy promoted in every fields including science: just because you have a lot of data doesn't mean you know what it means or what it can mean. So if you want any use out of an econ degree, the one that shines the most is to not be deceived by other frauds.

[@kdbublitz88]

Most people only need a rudimentary understanding of economics, but EVERYONE should be versed in this rudimentary understanding... unfortunately, most ppl are not.. T.T

[@phatlewt2932]

That's exactly what I thought back in high school, everyone needs to be more knowledge about how the economy and the law works. They're the two most relevant subjects for me in college. I don't know how some students are comfortable choosing all these other useless subjects for their majors

[@lovelyhomeboy2782]

@@phatlewt2932 it makes them more money

[@phatlewt2932]

@@lovelyhomeboy2782 not really, taking literature won't provide you anything lucrative

[@edwardwongks]

Econ Bachelors here, went to do a postgrad in London School of Economics but dropped out halfway coming to the realization that I didn't want to work at a bank/financial institution analyzing economical trends. Got into I.T. instead as that was my passion. I'm now an I.T. director, but the mental rigor and logical thinking from studying Economics was absolutely beneficial to my career.

[@rockinthemtees1628]

I see you are a man of great wisdom as you are subscribed to Breaking Points and Andrew Yang

[@toby6464]

@@SD352-68 LSE was where he said he started his postgrad, he may have done his undergrad somewhere else (it's only undergrad courses that use A levels)

[@edwardwongks]

I did my Bachelor's in Uni of Queensland. EE's Aussie accent feels right at home!

[@cassimross8257]

I beg to differ lol. I been in IT 6 years. Going back to school for an undergrad in Econ. The field is saturated. Most IT jobs are dead end.

[@business5149]

100% agree. I did the same Bachelor Econ and then Master in Computer Science with Business focus. Built up my own Media / E-Commerce Company while studying and dropped out of the Master studies halfway through, because the business has grown a lot (and also due to poor quality Zoom classes). I really value the analytical framework Econ studies provides you with.

[@FRISHR]

Instructions unclear: Mixed Economics with Law and become a mafia boss.

[@aditibohara4289]

My dad said "no matter which major you take or what job you do knowledge about maths, economics and law are never useles, in surface level it may seem its not applicable but it helps you get two steps further than other people" as I grew up it made a lot of sense

[@Han-rg4zt]

Period

[@FsimulatorX]

Interesting. How so if I may ask?

[@just_abald_guy_who_love_to9324]

Not only maths economics and law knowing something is never a loss no matter what it is Suppose you know a lot of p stuff you can satisfy your partner just an example don't trash talk me please

[@dimasakbar7668]

I.... Used to avoid math like plague, my knowledge in other subject get me to enter law school, then i become corporate lawyer, then i must learn economy, then i was forced to understand math, and yes i can attest that your father lesson is pure gold.

[@FsimulatorX]

@@dimasakbar7668 similar situation here, except I choose computer science thinking it's basically programming, as a way to avoid the maths computer engineers have to deal with. Ironically I ended being attracted towards Data Science and Machine Learning. I first tried to get by just learning the minimum maths needed for it, but now seeing that the field is constantly changing and evolving, I just decided to go hard-core on the maths and end this imposter syndrome relation I have with mathematics once and for all. I'm hoping to take intro to proofs and mathematical reasoning, vector calculus and linear algebra next semester, followed by stochastic probability, abstract algebra and Real & Complex Analysis the following semester. Sure the courses I have in mind may not be related to Data Science (with the exception of probability and linear algebra) but the industry will always change as new knowledge and ideas are brought out into the world. And being well versed in mathematics seems like one of the best ways to adapt to changes in the industry, years ahead of the curve.

[@dhruvchawla1996]

Can’t wait to study economics so I can print more money

[@OmDahake]

Same here

[@itsvk9647]

Buy printer, then you don't have to study economics.

[@OmDahake]

Nice

[@HarrisChoudhry]

@@itsvk9647 help the FBI is at my house

[@ac1455]

@@HarrisChoudhry did you offer them money to go away?

[@-SimonRiley]

I like how strong and hardly he said "DAA TAA."

[@mrbibu5856]

Ur mom

[@graog123]

Aussie accent

[@PunnamarajVinayakTejas]

It's pronounced day-taa and i will die on this bill

[@TheTheTheTheTheThe]

@@PunnamarajVinayakTejas It’s pronounced day-ta in most accents such as American and British accents, so you would be more used to it. However in Australian accents it’s pronounced dah-ta

[@so_h_am]

@@TheTheTheTheTheThe In India it is pronounced as DAA TAA too.

[@dezeld1]

Honestly, nowadays I'd say spend a bit more time on the Econometrics side of the degree and you'd be fairly well suited for any sort of Data Analyst position.

[@NotKimiRaikkonen]

I studied econ and in my view, as I've observed over the years from seeing friends and peers, I've noticed we are more adaptable to different companies and positions. If you study engineering you're probably going to go work in engineering... Econ majors can work in finance, tech, logistics, government, anywhere...

[@stuartking7431]

How to be technically wrong 100% of the time and have a successful career.

[@just_a_curious_thinker]

Nothing can be 100% wrong Even a stopped watch shows right time two times a day.

[@a.g364]

Stuart king, the most stupid comment below the video, congratulations!

[@wingsofpizza]

Technically there is a nonzero chance that your statement of something “being wrong 100% of the time” is true, but the probability of that being true is as likely as the moon suddenly turning into a giant ball of Swiss cheese, crashing into the ocean and turning all the water into fondue.

[@ThisIsntTwitter]

@@a.g364 Stuart hit a nerve didn't he?

[@Zeero3846]

Being 100% wrong is perfectly fine. Just practice the exact opposite. You might not know why you're right, but it gets results.

[@Palatineoffacts]

Good to have you back friend, it was boring without u uploading regularly

[@EconomicsExplained]

Thanks mate, got very busy working on a few big project in the background. Looking forward to announcing them soon. Hopefully we should have a new video for you every week from this point on though.

[@Amantducafe]

-Go into college debt to study economics -Find out that you have no other meaningful skill to mix you economics knowledge -????? -Profit?

[@KK-ce2hf]

Yes…..and hurt our economy by going into debt!! 😂👌🏻👌🏻👌🏻

[@giricharan7379]

By using the economics knowledge you can predict the future price movements of stocks and give investment decisons to others and charge an amount of money.I am CS student but i am intrested in economics so i am studying it by myself daily

[@galvint2]

Went to school for mechanical engineering, switched to psychology then got my masters in economics to study game theory and behavioral economics. Long story short, data analyst.

[@josephbrennan370]

Cool story. I love stories of career changers.

[@rehmanbashir8261]

how u going now,im also a mechanical engineer and planning to master in economics..,as im interested in monetary related ..,like how money works and all those stuffs.

[@FrequencyModulator]

I have two bachelor degrees, one in Economic Science and another one in Banks and Stock Exchanges (one from a Central European country and another one from a Eastern European). It was fun and Economics is very interesting. But then I learned programming and got a real job. Software developer since then.

[@angadsingh9314]

How did you land a software developing job without a degree?

[@FrequencyModulator]

@@angadsingh9314 not all companies require a comuter science degree. As long as you have something close to that (bachelor in economics), you're more or less ok. Get some certs, that helps too.

[@PlanetaryNukeFS1]

@@angadsingh9314 Surprisingly the job market now will accept any mainstream degree regardless of the specialized degree so long as you know what you are doing and you show that.

[@Brakarei]

@@angadsingh9314 I knew many people, especially in coding but in Computer Science/IT in general, who have no degree. Experience, certifications, and general competency are all that usually matter.

[@mersenne2486]

You should Use your knowledge of Economics and do something new.

[@MrA8888888888888888]

They give advice to politicians that ignore their advice OR they give advice that is later proven wrong. They are however always correct at what has happened in the past.

[@JcM944]

Yes/no. BS in Econ here. You will have access to MANY analyst jobs after college. But a job within the field of economics? I hope you're dedicated enough to get your masters / PhD. The best you can do with a undergrad degree is getting paid well below market with a think tank as a paper pusher or the Fed.

[@mattclark1278]

Fed pays for grad school. And they offer a pension. And ridic benefits. And there's about a kajillion jobs within the Fed(eral) government that a person working there has ready access to.

[@brandonholmes8485]

Yes but supply and demand. Most fed jobs go graduates from Ivy League schools or MIT.

[@scriptguru4669]

Economist: Somebody adept at telling you exactly why their predictions didn't come true.

[@AntonioZL]

We always know exactly why we're wrong. :)

[@sibusisomondlane7555]

I majored in Econ and Maths in my undergrad, I did my masters in Math and Econometrics now I am a Quant and my knowlege in Economics is very useful to my job

[@breezyoverjezuz21]

How much do you earn? I am aspiring to be a quant

[@Edelinejb]

Im 14 almost 15 years old and I also want to major in Mathematics and be a quant. Good to know your knowledge in your other studies are a big help. If you don’t mind answering how much do you earn a month or a year?

[@adilzhursin156]

I was going to study computer science at uni and got hooked up on economics recently thanks to your channel! I guess the best thing is studying economics by myself while still majoring cs. Keep up the great work!

[@jamesbarber2307]

That's what I'm doing. Im 3rd year now and would recommend. CS and its big data capabilities are going to revolutionise the economics discipline imo. Just focus on the mathematical side of economics. You need to be able to quantify things in order to use proper analytics.

[@dhruvchawla1996]

You can also considering doing a minor or second major. I tried doing a minor in finance while studying computer engineering but wasn’t able to fit the final course in. Still the finance and economic courses I took have helped me a lot in my job and also personal investing

[@josephbrennan370]

@@dhruvchawla1996 unfortunately the major and minor system doesn't exist in my country (UK) except in Scotland.

[@giricharan7379]

Even i am also studying both finance and economics while persuing my cs degree.

[@iota_jian]

This makes me feel a little better about my major choice. I’m an incoming freshman in college, and I have declared econ as my major. Thanks, EE!

[@lawrencesao7379]

Currently doing Data camp's Data Scientist with R course in preparation for an econ masters next fall and I love what you are saying. A good economist does 3 things, 1) (logical/mathematical) knows how to work with data 2) (social scientist/ anthropologist) understands people and markets 3) (policy influencer/ policy maker) you are helping people to make decisions and implement systems. Figuring out how to balance these things is an art.

[@josephbrennan370]

Hey I am using DataCamp two. Going to start an economics bachelors in October.

[@steins-bricks4957]

wait how did you go to university, I thought you're an emu?

[@EconomicsExplained]

I just wore a really big trench coat. Nobody suspected a thing.

[@pyrobadger]

Wait what, Emu's don't go to university's in Australia ?

[@K81Patel]

A random 'Simpsons' reference is always loved. Very smart. S.M.R.T

[@treepeenbawlz1934]

@@pyrobadger Emu Lives Matter

[@nearlyhuman1374]

I combined an economics degree with journalism. Less money, sure. But there are a lot of positives as well.

[@WolfTheTrueKing]

Having an educated opinion on economic news is vital nowadays instead of some idiotic guesses some articles have in them

[@danielbenton5817]

How did you do this. I think I might be interested in economics journalism but I don't know how to get in. I'm currently applying to study economics and maths at various UK universities.

[@nearlyhuman1374]

@@danielbenton5817 I think it'll depend on your country. But I did journalism degree then did a business degree. But, if you just do an economics degree it's easy to get into a smaller newspaper then build up. Chances of stepping into a big name newspaper after university is really difficult. Good luck!

[@Manvith-it9jz]

@@danielbenton5817 Im pursuing Economics Maths from India. Both aids each other really good. But not sure about my future prospects. I would like some suggestions.

[@MultipleCareers]

Awesome examples of hybrid careers! Combining 2 valuable skills/knowledge sets like economics + video production like mentioned here.

[@doomcow99]

Econ Bachelores at Warwick uni, now work for DEFRA as an economist, great work great people.

[@josephbrennan370]

Cool. I have an offer for Economics from Warwick.

[@fuckyoutubefuckinghandles]

Plenty of people in law school did an undergraduate degree in economics. There's a reason London School of Economics is also one of the best law schools in the world.

[@mattclark1278]

This. Highest-paying / most-common degree combo in Federal governments? Econ + JD.

[@tadiwatawengwa7042]

Let’s take a moment to appreciate the blond woman with glasses✨ beautiful

[@jasonkim6710]

What's her @?

[@InkaHacker]

WE NEED HER NAME OR INSTAGRAM

[@sebastianflora299]

haha, you need her @ and Insta for what?

[@jasonkim6710]

@@sebastianflora299 research purpose or just for a friend🙃

[@MB-yn5iu]

I somewhat regret majoring in Economics. It is a very broad degree, and it left me with very few skills that I could actually bring to an organization. People say that it opens a lot of potential careers, but you are usually not as qualified as other majors are for most careers. You end up having to compete with Finance and Accounting majors for Finance and Accounting jobs. You compete with Math and Statistics majors for jobs that are looking for people with a strong quantitative background. You compete with CS and IS majors for data analytics and data science jobs. Economics is a good degree for people who don't know what they want to do specifically because it leaves you with many options, but it may be better to study something else if you know what you want to do (unless you plan to do a PhD in economics).

[@Hstings]

It’s all about what you make of it. I did Econ myself (at a state school) and had no problem getting job opportunities in multiple fields after graduating. Just make sure to do internships and extracurriculars to make yourself competitive. Once you get some job experience your undergrad major doesn’t matter anymore really. I understand your sentiment though, because I saw this as a common trend with people I graduated beside.

[@seastand12]

Econ honours here, literally about to start a role in data strategy with a government department. Super excited!

[@MohammedAhmed-gm8yn]

How's it going bro 🤍😃

[@kkhmdfk]

Tbh I clicked on This vid due to the girl on the Thumbnail .

[@jonrolfson1686]

Mix an Econ Major with life, you might bring a sophisticated understanding to your own finances, sufficient to avoid personal confusion and despair. Or at least be able to confront your own checkbook with confidence.

[@vermasean]

I would think studying Economics is valuable in general 📚

[@w0mblemania]

Yeah, but there's a cost. Think about what else you could be studying for the same time/money.

[@casbot71]

@@w0mblemania While you were studying economics, _I studied the Blade…_

[@w0mblemania]

@@casbot71 Not a bad film. Sequels were terrible, though.

[@parafitality2730]

It is but at what (opportunity) cost? The career options with just econ alone is not great

[@jdstarek]

Me: degrees in journalism and economics. Job: marketing

[@EconomicsExplained]

Marketing can be a good gig. Plenty of flexibility in your work when compared to more rigid roles like finance or sales.

[@jdstarek]

@@EconomicsExplained Agreed, but after 15 years I wish I had gone into finance.

[@neeljavia2965]

@@jdstarek Then shift.

[@jdstarek]

@@neeljavia2965 I did, just started a consulting biz last month.

[@neeljavia2965]

@@jdstarek Nice.

[@selohcin]

Thanks for putting this out! I've wondered about this exact question for a while now.

[@a.biqbal]

I've got Econ + Programming. Works wonders

[@aneeshkadake9784]

I came for the thumbnail Stayed for the knowledge

[@M.a.kim.a]

I am for that thumbnail and will get her name she is mine Android 18 what is here name i have seen her everywhere??

[@basughosh8919]

I love your explanation , lot of love from India, grow for ever.

[@AyratHungryStudent]

As soon as I find out what "haad dhatah" is, I'll start studying it.

[@shanerooney7288]

*Q:* What do econimists do? *A:* Make KZbin videos.

[@smartenuptv7530]

Econ undergrad, MBA, - went from Business Analyst to Data Analyst to Investment Manager to Portfolio Manager. Econ itself gave me 1/3 knowledge to do the work, 1/3 the connections I made while studying it, 1/3 the understanding of the path forward. I now don't hire economists. Nearly half the people I hire come from commerce.

[@BrokenAbyss]

I wish I could afford you to manage my portfolio. But an hour of your time is worth more than my entire portfolio.

[@davidbrayshaw3529]

I loved economics at school, especially the multi choice exams. i.e. Q) The study of economics yields definitive and verifiable solutions to complex financial and social matters. A). The above statement is true. B). The above statement is not true). C). Both of these statements are true but one is truer than the other. D). Both of these statements are false but one is more false than the other. E). All of the above. Answering "E" was always a sure fire way to get an "A", regardless of the question.

[@justannpc1866]

I was about to choose Finance or Economics since I aspire to be a quant or other related jobs in that field. But I ended up choosing Computer Engineering just to be on the safe side of getting a job and the growing demand for it. If I have seen this vid and all the comments before college started, then more likely I would choose Economics.

[@TheK3rb]

You always have an opportunity to mix your existing knowledge and skills with economics or entrepreneurship. It’s a huge world of options so it’s never too late :)

[@nicolasmarazuela1010]

I studied history but still learned a lot about ecomomics. My final exam was a paper about the failures during the shift from the ECS 1 to the ECS 2 which eventually played a big role on the way to the Euro-crisis.

[@trentgoodwin66]

Studied a Bachelor of Economics for a year and a half but decided to withdraw this year. I absolutely love the subject but the job prospects and high degree cost here in Australia is what led to the decision. It was such a fun course with so many transferable skills but the reality of working 9-5 in some government or financial office didn't end up sitting right with me. Thinking of transferring into Computer Science or becoming an Economics teacher instead as the study will always have a special place in my heart.

[@samuraijosh1595]

As EE says, a mix of CS and Finance/business knowledge is the best if you want to do "economics" while also making some good money. A pure economics degree is worthless to be brutally honest.

[@mattclark1278]

(American laughing at the "high degree cost here in Australia" comment...)

[@dkaoboy]

quick short and to the point. love it!

[@jovanni_orb5116]

I am studying for an economic degree right. Keep up the great videos.

[@badlyknockedup]

Studied economics for a year, only to realize I hated the prospect of working in an office all day. Looking back the logical framework it gave me, helped in my horticulture degree, and today it helps me in looking at sales of plants based on hard data and not emotions

[@andrewclifton429]

I'd like to know if anyone has seriously studied the economics of economics as profession. Who employs economists and which employers pays the highest wages? Could there be any perverse incentives in this jobs market, such that it pays best to promote theories which favour the interests of top employers (governments, corporations, banks etc)? If economists believe that it's rational to maximise one's own economic interests, how can we trust them to tell us what policies will really be best for the general public, as opposed to their employers?

[@ANBU_EU]

At least in europe, economists that do actual economics as a profession are almost exclusively hired by government and government organisations, excluding private banks. That would include central banks, statistical data collection centers, universities, research centers for macroecnomic trends, government cabinets etc. Those strict economic jobs are usually paid less than economists who took their degree and went to work in marketing, finance, sales etc. As for what economists believe, that isnt the case, especially when comes to 'economists economists' they're more interested in scientific research, theory and implementing theories in practice. Its also important to know that current economic models (modern economics) are nothing akin to types discussed online (laissez-faire or communism).

[@andrewclifton429]

@@ANBU_EU Thanks, this is interesting. You seem to be speaking from personal knowledge of the profession and what you say sounds plausible, but I'd like to know where data can be found to show where economics graduates and PhDs work, how much they earn and so on. I suspect there may be differences between Europe and the USA - where, I'm told, an Economics PhD can earn three times the salary of a humble treasury analyst working for any one of some 200 political "think tanks"... and even more than that in Wall Street. Again, this is only anecdotal, but it's interesting nonetheless! As to what "economists believe" - I didn't claim that all economists hold the narrow view I mentioned, and I agree that many don't, these days - but in my experience of talking to a fair number of economics graduates in the UK and USA, it's shocking how many of them still do!

[@mantabsekali920]

What government ? Didn't most of governments is a democracy government that means the people (public) choose and control the government with a representative or directly. So a government chosen by the people. Isn't it logical to think that an economist work under said government would definitely work to the best of general public ? We exclude the Corruption factor of course.

[@andrewclifton429]

@@mantabsekali920 Your argument is perfectly logical, but almost totally divorced from objective reality. Where have I noticed that way of thinking before... Oh yes, I know - mainstream economics! :) :) I suggest you read "Democracy in America" by Gilens and Page. Their research shows that over many decades, the chances of legislation being passed in the senate has been directly proportional to it's popularity with billionaires and corporations, and inversely proportional to its popularity with the general public. Guess which bills tend to be enthusiastically supported by government paid economists?

[@mantabsekali920]

@@andrewclifton429 what would you expect from a sheeple society like america lol. The high disparity of education is a telling of a high possibility on alienation of the best general public interest. It's still the people right ? The legislative is still chosen by the people. The fact that american people still choose the politician that backed by conglomerates is their own right, who are we to tell what the best policies for them ? They can think for themselves, don't they ?

[@TuEconomiaa]

I'm starting business in Spain and I'm loving it. The first year it's the same courses as economics and I feel that in learning a lot of useful things for the future

[@osmarsantanafilho3184]

totalmente Bro, me he graduado en eco y los compañeros de ADE tienen las mismas asignaturas que nosotros hasta segundo. Si bien me acuerdo, de las 20 primeras asignaturas, solo dos son diferentes: Contabilidad de gestión y derecho mercantil, mientras en eco nos dan estructura de la economía mundial y derecho patrimonial.

[@Edelinejb]

good luck on the business. Would love too see it’s progress

[@evanscott1194]

This is one of my Top 5 favorite KZbin channels

[@kevinharper7037]

I have an econ/fin degree and a mechanical engineering degree, The engineering degree is more useful for getting jobs, the econ/ fin degree is more useful for building wealth, in truth you do not need a degree just a library with a few well read books on the subject

[@hensolo8825]

any books you recommend?

[@kevinharper7037]

@@hensolo8825 A basic macro/micro economics book to start - Barrons is a decent one. Adam Smith's wealth of Nations and Hayek road to serfdom are good. Keynes general theory will give you a different perspective. Lighter reading Freakonomics. I probably have 30 econ books ranging from Fredrick Engels to Milton Friedman. I am definitely more of a follower of the Chicago school but I find reading different theories to be helpful.

[@rehmanbashir8261]

bro im a mechanical engineer,and planning to do master in economic,what u think ,should i do Ms in economics or not ,and after that whats about the job market then.,plzz reply!!!

[@OhNoNotAgain42]

US government economists have recently projected that job opportunities are excellent for experienced US government economists

[@mattclark1278]

lol

[@somtingwongwai7194]

Economic degree is the smarter version of bachelor of Arts. You can do the same analysis as the video suggests by changing it to a creativity sense.

[@LNgKhoi]

This little tip can be very helpful not just for studying economics. I'm studying English Linguistics and I'm pretty sure the tips here can still stand true if I want to have a proper, stable job.

[@d.esanchez3351]

I studied economy for 2 years before I change to my real passion, history. But I'm glad I studied economy cause... I feel a little bit more grounded here. Social scientists, specially students, can be a little emotional. Studying economy helped me in trying to understand movements in history as a machine like the market, with unpredictable results due to infinite factors. Not to critique my fellow social scientists, but they do can get a bit idealistic. And as the video says, be interdisciplinar. It's the best way to break through the limits of your field. The more you know the more in general you can understand your field of expertise.

[@Broxalax]

I studied accounting. Not to get a job, but to understand bookkeeping and tax. I have 8 rental properties now, but at the time I had 2. Understanding the tax benefits and keeping good books allows you to know your worth, budget accordingly for overheads and negate tax liabilities. For each property, I have a spreadsheet that I can put values in to give me things like current market value, mortgage liability, cost to sell, gross profit, depreciation less depreciated, capital gains liability, net profit.

[@senseofmindshow]

This is great. Thanks.

[@gauve30]

For anybody reading, I recommend econ as double major to anything. I took one course during mechanical engineering, and graduated having done capstones in both ME & econ. Econ is the best framework to do everything from first principles and being able to fathom all ins & outs.

[@karlsbusinessstories5446]

Good video! Thanks

[@Dominik-K]

I can highly agree that mixing economics with other studies can be a great entry to all kinds of jobs! Studying economics on your own is problematic, but a good mix helps

[@rodrigotoledo2305]

Im currently studying bachelor's in business administration and economics as well as a negotiation mastery to become a real state developer and I think is going great

[@MoneyR8]

Economics major here, it’s a waste of time and 2008 killed it. Lucky for me, I came to that realization mid study and switched to a focus on statistics. If I could start again I would def go into Math.

[@karlmay5306]

I'm doing a handful of econ electives to support and augment my journalism/political science degree.

[@animedotty]

I came for thumbnail only 😂

[@DeathBySlushPuppy]

Kinda wish this video was longer as I am in the first year of my business economics degree lol

[@zakiramad]

I study it because I really like it. Already done bachelors in Production

[@darthutah6649]

You should do a video on georgism

[@MagnenoExtra]

I actually am! Its painful 😂 lots of math but its totally worth it to understand the world around you

[@kunjbiharibudania4866]

Last tip was the best

[@Joe-ff4if]

I thought for sure the answer to the question in the thumbnail was going to be "pan-handling, lots and lots and lots of pan-handling"

[@jacobbwalters8133]

Former economics major here- I would totally recommend going into economics, but he is right, you will likely need additional skills and/or connections to be employable. Internships in the field are vital for economics in a way that they aren’t as much in other professions. For this reason, I recommend people going into economics go to either an institution well known for economics or attend a small university where they can maintain good relationships with their professors. I took the latter path and one of my professors recommended me for a position at an economic think tank. Upon graduation I had several good offers to be a junior associate or researcher at other think tanks full time. I ended up deciding to instead continue my education through law school, but a career in economic policy was not unattainable for me. I have compiled a list of professions with the minor and/or skill set necessary to be successful in the field of economics. Keep in mind that to advance, many will require a graduate degree like an MBA, MPA, PhD, or JD. Economic Policy analyst: Econ + Poly Sci Financial advisor: Econ + Sales Financial model software developer: Econ + IT Economics researcher: Econ + Econometrics Just FYI as well, pretty much any position for people with a finance degree is fair game for Econ majors as are many poly sci positions. Econ is truly a versatile and useful degree and so long as you maintain a decent GPA and are proactive about looking for internship and employment opportunities, you shouldn’t have an issue finding a job. Keep in mind though that many firms hiring Econ majors (especially prestigious ones) will start the hiring process in the fall long before whatever summer opening exists and the early bird will get the worm. Generally people I know who failed to get an internship that satisfied them were the ones who waited to send in applications until it was too late.

[@GOD999MODE]

I got an Econ degree in 2012 and never got a job in banking or finance. It’s a great subject snd curriculum to study, but I wouldn’t do it to try to get a job.

[@mokeyrock]

I’ll tell you what we economist do on our daily basis. 50% of the time we are trying to predict why things will happen in a way and the other 50% of the time we are trying to figure out why it didn’t happen that way

[@zawwin1846]

They make spicy memes

[@toozydude2]

My recommendation: Study engineering, then learn economics in your own time ;) You can learn to understand economics without studying it at uni! (from someone doing exactly that ;))

[@maxloval775]

I completely agree. It's harder to learn a technical skill than it is to learn economic theory

[@toozydude2]

@@maxloval775 I mean if you study engineering, then you can also understand economics ;)

[@SebastianRocks1234]

Depends on your goals. Engineering is a great degree no doubt, but studying engineering to become something unrelated to engineering is just not efficient. Imagine you know what you want to do and spend 4+ years of your life studying another degree just to hope that you will learn the skills the other job needs on the fly and not use your original degree again. I think a career path is much more nuanced than meets the eye.

[@mangoisland4792]

exactly, even macro is just mostly common sense

[@LaFacedera]

​@@maxloval775 Economics is technical stuff. I have a master in economics and currently getting a master in data science and it's crazy how for example my optimization courses overlap with the content of the microeconomic courses I've had.

[@really...8359]

Went into economics and have worked in banking, consulting, and tech.

[@annoymous_]

I have always loved Economics more than any pure Science subject like Physics or Chemistry. For me, it's a very interesting subject revolving around scarcity of resources and unlimited wants, the financial world that we live in, how the governments make financial decisions and how these policies affect the common man etc. I hope to do an M.Stat after graduating so I can understand this economic system further (and hope to make some of my own contributions too).

[@v_cpt-phasma_v689]

I'm about to study economics this feb and I'm gonna choose the modules that will make it at least 50% mathematics based so it open up the availability to be a maths teacher in the UK with further training, however my first post degree career goal would be to try and become a accountant/financial analyst i just think the option to in the future change my entire career to a completely different one will be good.

[@technoguyx]

Even if you don't wind up becoming a math teacher, knowing mathematics is crucial to gain a proper understanding of economics at all levels. Real analysis, probability theory and statistics are all necessary if you plan on continuing with further studies, e.g. in mathematical finance. Best of luck with your career

[@zhangeorgiev8252]

me, an intellectual, sees the thumbnail. yes, i want to become an economist

[@ystconnection]

This video was a nice way of saying “have a plan B” lol

[@patzer9137]

True

[@nyimdewan3353]

The programming and Economics sounds good

[@paramm6194]

Hey, I too am looking to study Economics before enter the field of finance to study computation finance. Most probably joining the Indian Institute of Technology in few weeks.

[@herp_derpingson]

I like your optimism

[@avanshara]

Bro how it's going now, did you enter iit for economics , gave jam exam ??????

[@IanDennisNguitui]

Thank you

[@-FairyGodMother-]

I'm planning on becoming a law professor, is economics a good choice for higher school?

[@TheNefastor]

I think you just broke some sort of stock footage record 😄

[@Sasoripwns]

It's so tempting

[@andrewkaplanc]

I think this would make an interesting standard length video.

[@neeljavia2965]

Yes.

[@gabrielneves1382]

Economics is like thinking you understand how the world works at the beginning than econometrics and modern macro and micro hits and you just know you know nothing of how the world works.

[@user-lo1ut9df6d]

The thumbnail

[@TheAdamAdy]

You dont need to go to school to study economics. Ton of free materials out there. Saylor academy even gives you certification of some sort

[@SDfighter1]

So would a dual major in economics and data science be smart? Or at least a major in one and a minor in the other?

[@deffari]

hey have you made a video about how new money is created in our current system? or in other words, fractional reserve banking?

[@ChrisBa303]

Im planning to study international Business in Germany and this video gave me even more reinforcement

[@fox1848]

Currently writing my thesis in this major here in munich, good luck 🌞 its worth it!

[@randalpoopoo2901]

Im getting into a commerce + comp sci double degree, hopefully what he says about economics and computer science is true i hope i land a job as a financial systems engineer

[@LuLeBe]

Honestly economics to me always seems like using whatever part of maths happen to align with your intentions. If logical thinking etc are what you want to learn, study CS or physics or so. If you wanna be good at pretending, convincing etc, economics seems like a good fit. It's one of those studies where people tell you "oh you can do everything with it" but fail to name an interesting example outside the obvious "well, accounting for example" etc.

[@er5269]

I've taken the first few courses in economics in university and it was both very interesting and has helped me understand a lot of other things. In many ways, economics describe things very efficiently almost to the point where you can discuss things you couldn't think about otherwise. I spoke to a teacher once that had read a whole book full of philosophy that had taught her about negative externalities and the tragedy of the commons which would at most take a few hours to learn while studying economics.

[@franciscoscaramanga9396]

"Learn how to work with data" Any resources you would recommend for the layperson? I'm interested in learning more, but I pursue my education outside of college.

[@abdulmoizayyaz]

Oooh , please do tell me more about daatah !?

[@paulandrewgomez861]

Econ + IT/ coding What else are the possible career paths/ options? Thanks in advance.

[@breezyoverjezuz21]

You could become a quantio analyst in the finance industry... They get paid quite well

[@stanisk.942]

"Economic" is one most less difficult major. "Engineering Economic" is a whole different level. Watch out, what you pick.

[@renthearchangel9479]

There are two primary reasons to take an econ bachelor's degree (1) to get an analyst job and (2) to prepare yourself for the master's degree in economics. For (1), you'll learn mostly econometrics, business-related mathematics and "how to think like an economist". For (2), all the "real world" stuff are in "master's and beyond". A finance/business degree is more useful for someone who wants to do analyst jobs (if they give you some basic econometrics and mathematics that is). It's similar to "don't expect to know literally rocket science to work for NASA from basic physics you learn in high school". There's a reason big and influential economic research organizations and journals like the American Economic Association and JEL or JER only (or mostly) hire and publish works from actually PhD's and Master's.