I'm thinking of becoming an Economics major. Is that a good choice? Because at the moment I'm undecided...

Question

Is that the right choice? How do I know?

Answer 1

You will make more money and have more job opportunities as a Finance major. Do a Finance major with emphasis in Econ, and you will do much better.

Answer 2

I agree with Santa. Economics is a well rounded discipline, however the Finance degree will make you more marketable. Can you do a dual major? I did the Econ/Finance major years ago. I've worked in a variety of fields, although not banking. I know a lot of Econ grads went into banking or insurance actuarial fields.

Answer 3

The responses above are spot on. However, I have some advice relating to your status as undecided.

If you are undecided, take a couple of classes in Math and see if you can enjoy it . Almost every discipline engages in large amounts of data analysis and this will continue to get extremely important. So I recommend Math as a major as it gives you a lot of options. Some students double major in Math and a Social Science field.

Good Luck.

Answer 4

Economics gives you a perspective on how to allocate scarce resources -- like your time -- and how to think about making decisions -- like your major. In the end, most resources are scarce and most decisions have opportunity costs.

While I would recommend having a well rounded education, even if self-taught, to give you multiple perspectives on how to make decisions, economics, relative to philosophy or other disciplines, probably has greater value if your concern is primarily focused on job opportunities. A good economics course of study will expose you to both quantitative and qualitative ways to think -- how to define a problem, develop solutions, select one, and understand the consequences of your decisions. Critical thinking is a valuable commodity in the job market..