FrankArabia Wrote: ------------------------------------------------------- > economist have very poor track records of > forecasting. they however, are extremely good at > explaining why something occurred, everything from > why amanda lang is sleeping with Kevin OLeary to > how this whole crisis came about. Haha, +1
My perspective is that there are some rules (perhaps laws) that define our existence and our view of the universe, namely, that resources are scarce, and that the underlying hierarchy is based on value. Creation and destruction of value explains a lot. These rules or laws are the basis of economics. They are the basis of the societal fabric.
I want to say that there was a similar thread on this topic about a year ago. I’m generally of the same opinion, it really depends on what you want to do with it and if you can get someone else to pay for it. I have an MA in Economics and (now) work as an Economist, but I certainly could trade bonds or analyze stocks or something without one. A PhD in Economics certainly has more of a background in Economics than an MA, but if you want advice on investment strategy, the PhD probabably doesn’t have that much value-added relative to the MA. Oh, and Buffet has an MA in Economics from Columbia.
buffet studied economics at Columbia business school. not sure if that’s the same type of cirriculum as it is today. he took classes with Ben Graham there on investing. there wasn’t anything close to that at the MA programs i looked at but that is just Canada. economics as a discipline has changed a lot since then so maybe not fair to say he is an economist.
Before there was finance, there was economics.
I have an MA in International Economics, and it hasn’t hurt me at all any any past job hunts. I think just having a graduate degree in general will give you an advantage.