PeakTrader.com

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PeakTrader said...

AIG says: "...the majority of econ BS holders don't work in "economics" but in other career fields."

Yes, that's true:

The Making of an Economist, Redux (2007)

"Each year approximately 25,000 undergraduate students (about 2 percent of all college seniors) major in economics.

The large majority of these majors have no intention of becoming economists; they are planning to go into business, with banking, finance, and general management the most popular fields.

Each year somewhat more than 900 Ph.D.’s are awarded, a rate slightly higher than in the past (rate of production has averaged 800 over the past forty years).

Graduate economics students attend one of the over one hundred Ph.D. programs in economics within the United States.

It generally takes a bit over five years of graduate study for students to get a Ph.D."

http://press.princeton.edu/chapters/s8438.html

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PeakTrader said...

It should be noted, grad econ prefers math majors over econ majors.

When I was in grad econ, perhaps 40% were math majors, 40% were econ majors, and the rest were all other majors.

And many of the econ majors had extensive math as undergrads, which was generally required for grad econ.

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Sprewell said...

The fact that Peak's grad econ program had so many math majors simply highlights the intellectual bankruptcy of grad econ. Unfortunately, too many other majors are similarly vacuous.

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PeakTrader said...

Sprewell, what you call "intellectual bankruptcy" is understanding, creating, and tying-together mathematical and empirical models in multi-dimensions (vectors in n-space).

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http://www.blogger.com/comment.g?blogID=28997633&postID=5927826543327130459