Is ECONOMICS a Hard Major? 🤔📊📚 | Think Econ |

[@ThinkEcon]

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[@janyasingh3514]

I was a finance major, and was doing a minor in economics, and oh my god, it was sooo hard, I hated it for some reason, a lot of it did not make sense to me, I only enjoyed studying Macroeconomics, I never liked Microecononics, it was based on way too many assumptions and everything had an exception, it was not exact, not definite. I respect people who get a major in economics, it is harddd

[@milomitchener4166]

Lol I just started a double degrees in econometrics and electrical engineering

[@Milton_Friedmanite]

I’m an Econ major teaching myself finance, and planning on taking a financial analysis course next semester. Bro, finance is kinda hard. Maybe I just don’t know enough yet, but for me Econ has always been a little easy but I love economics. I guess it’s also a little hard to teach yourself finance. Idk where to look or topics to focus on, what books to get, etc. Read Rich Dad Poor Dad, reading Intelligent Investor, and just got a couple technical analysis books. (I need to figure out due diligence. Know barely anything about it)

[@biancalucia8388]

What is hard are those online homework. Sometimes they mark your answers wrong and you have to convince the teacher to give you the points

[@2012NinersEra]

Yes thank you!!! A lot of people I know says it doesn’t matter where you go but it DOES MATTER where you go because of the difference in quality.

[@Abdulmateen277]

In my point of view it doesn't just depend on your interests but as well as on the teachers and their methodology

[@ThinkEcon]

This is very true!

[@malu8710]

I loved econ in high school . Absolutely. It was just theories and all that. I got to my undergrad and did maths alongside it and I enjoyed it tbh! I’m doing my Masters in Economics and Econometrics at the University of Nottingham now, and safe to say, one of THE BEST courses with a lot of opportunities, however, extremely hard unless you’re willing to put a lot of time into it

[@Milton_Friedmanite]

Is the math in econometrics easy, the hard part is just memorizing so much? I have an intro book and am debating on teaching myself. Not sure if it will be practical in finance or business though (that’s what I’m going into)

[@jai9587]

I LOOOOVE econ but I hate math, how about that lol

[@ThinkEcon]

You would be surprised how common that is amongst econ students! You will do just fine as long as you love econ!

[@johnappleseed8146]

well if you can get through intermediate micro econ it should be okay from there. Econometrics will require pretty strong stats keep that in mind.

[@ThinkEcon]

@@johnappleseed8146 But the ongoing debate will always be: "What's harder; Intermediate Macro or Intermediate Micro?"

[@johnappleseed8146]

@@ThinkEcon Well that depends on how good your math is. If your strong point was theory and weak point was math you will perfer intermediate macro to micro, but it also applies vice versa for if your math is your strong point. If you struggle to do partial derivatives, good luck.

[@theoilerdude4474]

Just quit

[@Viraj911]

I love Statics, but weak at calcus and Algebra, but love theoretical economics 😢

[@Milton_Friedmanite]

What really matters is your own interest in the subject. If you love Econ, you dive into it and listen and read to the best, or anyone who teaches it, then the classes will be much easier. I’ve taken some classes barely studying because of how much I’ve learned the topic prior. If you go into the deep end without dipping your toes then yeah, it will be kinda difficult. Especially if your math isn’t there. Apparently Econ students are 3rd when it comes to highest IQs.

[@LungteNangram]

I love Economics

[@ThinkEcon]

Me too!

[@ummarumana4954]

U are amazing. Ur videos are very helpful for me. I am an economics graduate from India.I have seen ur each and every videos. Love from India. 🖤

[@ThinkEcon]

Thank you for the encouragement and kind words! I'm glad you like the videos and find them helpful :)

[@radhika__24]

From which college did you pursue economics honours???

[@thegomillionairemindset6719]

I dont think it matters which university, it matters what teachers you have. a teacher that came from tough achools can bring that same challenging course to your school. But they have to be able to teach it well

[@ThinkEcon]

I agree, and typically the universities which top the list have the best faculties as well. I always tell my students that their success in my class relies on them being good students as well as me ensuring I’m the best prof I can be. It’s a two way street as far as I’m concerned!

[@utkarshmishra6473]

I here point out some questions that maths is very necessary for economics

[@byronlopez9621]

It’s hard but doable

[@BrilliantKhizar]

I love math and econ 👌

[@BabuMosahi]

I love economics, but i freakinjdjfjfjf hate math 😢

[@alingmarites7237]

It is hard. 💯❤️

[@TrishLamber]

I like the maths of economics but not a huge fan of theory of economics so should i pursue it?

[@srbobby4829]

I am also a student of economics honours

[@Abdulmateen277]

Economics is not a rocket science at all All you have to do is to clear your concepts and believe on yourself

[@NicaKasende]

... "the right" university 😮

[@potatoisgoodnotacherry]

I've been learning economics in highschool but it doesn't seem to have much correlation to maths?

[@ThinkEcon]

When you first start out in high school (so pretty much just unit 1) it’s a lot of learning economic concepts and famous economists without much correlation. As you continue through the course (unit 2 onwards) you start to calculate things like equilibrium (solving basic linear equations), calculating elasticity (slope and percentage change), profit maximization/cost minimization (solving quadratic equations), and more. So at the very beginning it may seem very math-free, but that will change, don’t worry. And then you’ll be able to come back to the channel and look at our tutorial videos 😉

[@potatoisgoodnotacherry]

@@ThinkEcon oh nice. Because I'm thinking of doing a mathematics and economics degree at university. So I was wondering about the correlation

[@ThinkEcon]

@potatoisgoodnotacherry As in a double major or major/minor split? That could be a valuable combination! (Personally did a double major in Economics and Communications and loved the combination!)

[@purple831]

Iam really weak at maths. But , I took economics in graduation. Now iam scared

[@ThinkEcon]

When you start off, it's just some basic algebra (rearranging equations and solving for the unknowns), so don't be scared! Practice will always be your best friend.

[@purple831]

@@ThinkEcon thanks for reply

[@purple831]

@@ThinkEcon iam doing graduation (ba) major in economics and my minor subject is business communication so is it good pair with economics and what are the career options after graduation in economics

[@ThinkEcon]

@@purple831 So I actually combined my economics degree with a communications degree as well (But as a double major rather than a major/minor). If you are good at both analysis and presenting work, I think a great career path would be in economic consulting (private or public sector). Of course, you could also pursue teaching economics as well, as there is a strong expectation for good communication skills in that area as well!

[@purple831]

@@ThinkEcon thanks

[@ZEESHANKHAN-vh6ih]

My mathematics very very low 😢😢😢😢😢😢

[@hugodaniel8975]

Im lgbt my dream is being an econ major

[@srbobby4829]

Sir can u teach me economics Please sir

[@ThinkEcon]

Absolutely! You can reach out via email if you'd like any economics tutoring!

[@srbobby4829]

Hello sir

[@GoGetIt762]

Hey your realy attraction

[@GoGetIt762]

Gayaahhh video

[@srbobby4829]

But little bit i can't understand Economics

[@ThinkEcon]

We have plenty of videos on the channel to help with the basics on studying economics. Over time we will be adding more complex concepts as well! I also provide online tutoring, but that is contingent on my own teaching schedule

[@GoGetIt762]

Can I egg your house

[@al_gc1703]

Confirm. Economics is difficult and insane, but still cool. 😂🫠

[@ThinkEcon]

Facts.

[@potatoisgoodnotacherry]

I've been learning economics in highschool but it doesn't seem to have much correlation to maths?

[@DiegoGO-EconData-]

Because as he mentions, there is an important theoretical component in economics. It depends on what you want to study. If the focus of your study is money, you may not be interested in advanced mathematics, a linear system and referring to a linear prediction model could be sufficient. However, if you like to evaluate and predict human behavior by adding a component of inequality, market failures, etc., then perhaps you should use a more complex model. The beautiful thing in economics is that you can make your model as complex or simple as you want. Great economists like Ronald Coase and Max-Neef were not necessarily lovers of the mathematization of a social science, but their contribution to science is indisputable.

[@Milton_Friedmanite]

Trust me, it does. It’s very Calc heavy, especially when you get into college classes. Lots of derivatives/partial derivatives/optimization. Lots of algebra as well, which isn’t bad imo. But the exponents and logs can get you. Calc actually isn’t that bad either, derivatives are easy. Optimization is a little harder but once you get used to it it’s not bad.

[@potatoisgoodnotacherry]

@@Milton_Friedmanite so is it a lot of highschool maths?

[@Milton_Friedmanite]

@@potatoisgoodnotacherry if you mean “is there a lot of math in highschool economics” then not really, some for sure. It’s all algebra and arithmetic really. Here are some examples: Calculating comparative advantage, simply division. Finding equilibrium: Supply curve = Q = 5 + 3P Demand curve = Q = 3 - 4P 5 + 3P = 3 - 4P P*= -2/7 Q* = 3 - 4(-2/7) Q* = 29/7 If you mean, “is there a lot of hs math involved” yes. It’s basically all highschool math especially if you count Calc as hs math. If you don’t count calculus as hs math then the answer is still yes, with the exception of optimization problems, and finding marginal rates (derivatives/partial derivatives).

[@potatoisgoodnotacherry]

@@Milton_Friedmanite in highschool, I've learnt equations, but it's never been mandatory to use them. Only a couple of equations, so based on what you said, I assume that there are first order derivatives, implicit differentiation, differential equations and so on?