WHICH DEGREE SHOULD YOU STUDY? Economics vs. Finance vs. Accounting
Vložit
- čas přidán 27. 07. 2024
- I explain the differences between studying economics, finance and accounting at university and what kind of careers you can do after you graduate. I will help you decide which one of these degrees is right for you!
Music:
Alston&Ozone - LSDesigns
Toze&Davium - Waves
Thank you for this video! I've done a lot of research on CZcams and this has been the best video by far! The last minute of the video was the most helpful! Thank you again!
Glad you enjoyed the video. Best of luck!
Economics is excellent preparation for graduate school (if that is a goal). Econ majors have some of the highest LSAT scores, and some of the highest proportion of leadership positions. From a practical standpoint you won't get recruited like accounting or finance majors into accounting or banking firms but on the whole employers love this major. You can go into the public sector, NGO, MNC, private, academia (if you get a min masters). But study what you like. You definitely need more math than accounting and maybe about the same if not a little more than finance at the masters level. There are economists at banks but those are real economists (PHD's).
Been really stuck in what course to take and this has actually been really helpful. Thank you so much
Glad it's been helpful!
My suggestion for most people is to choose financial engineering. This way you do both finance and mathematics at the advance level and can be guaranteed a good paying job.
Great vid! More power to your channel!
that was so nice man , great to understand the difference
Personally I love economics because it's more about research and psychological perspective of wealth and consumption, but I'm studying banking and finance within business administration which is more math/number based even that I'm not good at it. Because the college I'm in doesn't have econ major, but we study econ a lot in business (banking & finance). And accounting is just not my thing it's so boring lol.
When you say more math do you mean like extensive math or just a lot of numbers? Does it go beyond adding, subtracting , multiplying and dividing?
@@leemari7695 Obviously there's whole lot of math! Numericals, equations, p-sets, calculus, statistics etc. But nothing can be more hell than accounting.
@@nycto16 accounting us easy to me💀so will finance be easy? Cause I heard there is more complicated math in finance
@@leemari7695 both are different, finance is more about numericals, formulas, equations and calculations... accounting is more about applying laws and balancing huge financial and income statements.
@@nycto16 okay thanks
Your video was very pleasing to watch :-) Thanks!
💯💯💯😎 Appreciate you. I’ve been researching exactly this.
Great video, simple and to the point, cheers!
I guess I would fit in with economics since I enjoy researching and taking things slowly. I get bored working with numbers all day because that is what I do now, and I don’t like fast paced work either. Very helpful video.
I agree! I like to take time and think about things.
Great video sir!!!!
This was very informative. Props.
I am doing my first year in Economics Management Science, I had interest in it based on production and money flow of a country. I was not good in maths but am doing great in it now
im not really good at maths which makes me doubt taking econ even though i enjoy it:')
@@yeswusame bro what should I do?
@@GamingZone-kq2fxhave u done anything yet?
@@00Snek00 naah bro 😭 gonna join university in September
I love that economics is broad and has a widerange of work force but am more of a practical person
Thanks mate. Accounting it is!
Very helpful !! Thank you
Helpful video thanks.
Even though I decided a couple month ago which degree should i get, this video was very helpful. Thank you very much 🦅
such an informative short vid!! u deserve more views. plus u have a rlly pretty face XD
Wow Thank you great explanations
Thank god I found this 🙏
Thank you, very good video
Thanks a lot I really learnt a lot
I liked the theoretical parts of economics but hated the graphs
Thanks this was helpful
Please I am confused whether I should study Statistics or economics can u please make video on that
thank you so much
After watching this video i came to the conclusion that you have the most beautiful eyes ❤👀
Thanks so much
How easy would it be for someone with an accounting degree to get a job in the finance sector to become an analyst?
Depends on the university you study at and what work experiences you have. If you studied at a good university it makes it a lot easier. Also, if you a have just graduated with a degree in accounting and you want to get a job in finance, it is easier to do it that if you go and work for some years in accounting and then try to switch go finance.
After watching this I guess I’ll go in finance…. But now am confused where to study it cuz I wanna study abroad somewhere in Europe…. If u know a better place which obviously cost less then a reply might help a lot.
Thank you ^^
Choose Economics if you want to pursue a career in academia, do research in public organizations and work as a data scientist for private or public sectors.
Choose finance if you want to work as a stock broker, bond trader, and financial analyst but not working in the risk management position that is part of the finance that deals with advanced graduate level probability and other highly advance math subjects.
Choose accounting if you simply want to be a bookkeeper 😅 be it of for an individual or run an office to handle many firms accounting book.
No one is a bookkeeper anymore… accountants pursue auditing, risk consulting, tax, or work for SMEs. Not to mention all finance entry level jobs accepts accounting majors lmao
@@cokezzz8249 What sounds harder to your ears? 1. Masters Degree in Accounting or 2. Masters Degree in Statistics?
@@cokezzz8249 But accounting in general is so boring ngl. I interned as a financial auditor and it basically is the same work everytime/everyday and it is just so boring.
@@mathematicaleconomist4943 Statistics is way harder. Although accounting requires some math skills, these are not really advanced.
@@GENJA165 Thanks for the answer. MUCH appreciated!
Thank you for the great video!
I wanted to ask a question from you. Is it difficult/tough to find a job with economics degree?
Furthermore, I wanted to choose Economics with Finance programme. Do you recommend me to choose it?
Did you receive a response please help me too . Thanks in advance .
@@kamyrnzheroll2160 Me too
If you are interested, then it is the best combo!! Believe me!!
Thank you
ACCA & CFA. perfect combination.
great video thanks
Yes, it has been a wonderful and rewarding journey. You have to love what you do and envelop real skills and you will be rewarded.
I hope you make a video about automation and how its going to affect some jobs like accounting ? And will it be replaced by AI?
Automation and software are removing the accounting function, so they have shifted their gaze and interest to Finance.
All accounting can be automated, and this is someone who just dropped their accounting major because of this. The people that say accounting can’t be automated because it involves judgement, are mostly wrong. The only type of accounting that can’t be automated is managerial accounting, and this is the type of accounting that involves judgment. Managerial accounting is closer to finance than accounting, therefore at the end of the day accounting will be automated!
@@dietcokeisdelicious5006 you are actually very wrong on this. Accounting isn't just limited to your elementary bookkeeping functions, it involves audit too and audit is itself very diversified like forensic audit etc etc so automation cannot in effect replace the higher level functions of accounting because we haven't yet reached a point in technology where softwares can keep up with the ever changing laws of the society and the government and even if they can come up with a software like that, companies will always find a loophole in the system and trust will be a big issue.
@@dietcokeisdelicious5006 tax cheat my friend, all companies do certain cheats, a machine cant a human can cheat
Do you think it’s necessary to have a double major in econ and either finance/accounting/mathematics? Or econ major and a minor in one of those things?
Economics is the best!
I want to be an accountant which degree is better for me.
Accounting
my goal in the future is to become a trader. Would a degree in finance be best suited for this?
yess
If I have my Economics associates degree may I apply for economic jobs? No one will hire me in Finance with my bachelor degree being Finance. It's horrible now they reject me the same day it's disrespectful and waste of my time to go to university to be unemployed so long after graduation. I been looking for entry level jobs a 1 year and a half before I graduated.
hey, what do you think about a double major in math + economics?
You could probably also study something that’s called Math and economics instead of doing the double you just get 50% of Economics and 50% Mathematics
If you could that, you would be gold. You would have technical skills with math and econ. The field would be wide open for you if double majored in math + econ.
What if I’m not good at math? My goal is to get with the stock market more involved with.
same here bro
영어공부중입니다
So what does a charted accountant do as an accountant
Not sure whether to choose economics and accounting or economics, finance and accounting. Please let me know what you think
Never choose a major that markets itself as a basket of majors. You are better of choosing a degree in ONE of these.
@@decodeeconomics220 thank you
Thanks for the concern but what of quantative economics
What about finance+accounting degree. What are the jobs that I can make? Is it worth it?
I was too busying looking at the book titles
I didn't listen anyting i still confused
So this is my question, what about someone who's main goal is to become an entrepreneur like me. My main goal has always been to have my own business and work for myself. Which degree is better suited for that career path?
go with finance or econ then take an accelerated course in business cuz its not difficut
...
this way u can be more prepared
I'll be frank. I just want to make the most money. Which degree is the highest paying with the best prospects.
If your concern is what makes the most money, it is probably finance, but there is no guarantee that it could make you that. STEM is more guaranteed to make me you money, but that's a different industry all together.
It all depends on how much you're willing to spend in school. In general, an accountant tend to start working straight out of college in a related job fr. Ex. A junior accountant, bookkeeper. The difference: (in accounting and economics) is that the certification is quite different. In accounting, there's the CPA and the CFA (and many more depending on country etc.) These are vital to getting the good salaries, after obtaining a bachelors degree and some work experience.
Opposingly, there's economics; I don't study economics. To my understanding, studying economics in the undergraduate level, won't work in economics, straight out of college. Simply, because economics is broad, and conceptual, its a science; one that requires more than 4 years.
@@DonaldDrunk578 so finance then.
None of them. Go to a 2 year get some DIY skills and invest in the stock market. Connections and job experience are better than any kind of degree. Out of the three I would say Econ is the best as it teaches critical thinking and is also has the least amount of units which means you should double major in a STEM field or a field of study that you enjoy and take a set of math classes. Look up millennial on CZcams and ask yourself, do you want to be a millennial.
But if I were to say what are the best degrees these are my answers:
1. Any of those types of degrees at an ivy league / well connected college. CPA is worthless (its just an excel jocky who is glorified), anyone who believes that hard work promotes you to high end jobs is clowning themselves with the idea of climbing the corporate ladder. Most CFOs and Controllers get the job right out of college. The real truth is that business degrees have no value. If the best of the three is Econ as it is the only one you can study along side STEM.
2. Go for any STEM degree. Doesn't matter what you study. There are very few jobs related to college. Type down trucking, mechanic, plumber and then type down computer scientist, accountant, and engineer. Most jobs are low skilled and low paying.
3. Everyone has a college degree. The most valuable ones are the ones that few can do like engineering, physics, math, anything quant heavy and says I have a strong work ethic and am very smart. Everything else is corporate nepotism.
Look up some oil tycoons. Most of them dropped out of college, or went to elite universities and had daddy money to bail them out. Does an entrepreneur want to wait in line for a job that isn't guarantee while having debt. Compare this to the phony wealth of the "investment banker/quant" which is a 150-300k amount and see it is quite small compared to the 15,000,000 salary of the oil tycoon or any other type of business owner (big pharma) and you will see that the banking / law industry does not produce jack.
Could o be an investment banker if I do finance
definitely
Your description of finance was really limited
side note : your eyes are so pretty
One thing that is still bothering me that is it necessary to study accounting if you want to major in economics? Does universities accept students who haven’t studied accounting or math along with economics in their under graduation?
Yes.... They accpt
You hate accounting?
ME TOO
so accountants make less than economists and finance people.
From my experience, Economics is more theoretical.
Accounting is more practical?
in ACCA, Finance is a subset of Accounts and not a separate discipline.
Accounting will be automated. It's a bad investment. Go for Econ + STEM or a minor in accounting.
@@Doritos-ik5eu bro i totally agree , like it's very automatable and i realized that, that's why i chose finance
@@anonymous5424 yea i chose econ didnt like accts that much
The only type of accounting that can’t be automated is managerial accounting, where the judgement is. Managerial accounting is closer to finance than accounting, therefore at the end of the day accounting will be automated.
Which major can earn more money and also a good social life?
Can a person doing major in economics work as an investment banker?
Finance or economics which includes more of complex maths?
Pls do answer 🙏🏼
As far as money, any major can make a lot if you invest in it and make the right moves, but finance would top the chart for the highest paid.
When it comes to math, they both have very similar levels, it's only after graduating that the levels differ (if you go into economic history math would be less rigorous than going into financial modeling)
@@decodeeconomics220 You didn’t include this in the video but isn’t Economics harder compared to Accounting and Finance too I think there is more math in economics than in Accounting and Finance degrees
@@teknul89 Accounting is harder than Economics and Finance is equal to Economics (almost) or maybe less hard.
@@nycto16 it’s the other way around Economics is more a science Degree and has more theories in depth compared to Accounting and Finance + Accounting and finance is easier to do compared to Economics
@@teknul89 Economics is social science. That's what makes economics easier than accounting as you already mentioned that there are more theories! Idk about you, but for me and generally studying theories are way better than playing with numbers! Accounting totally sucks.. its all about number crunching, balance sheets, spreadsheets, ledger posting, cash books etc are hell.
I;m trying to be in investments and PE. Which one is better between Finance and economics?
Finance
Should i study banking and finance or finance alone? I just wanna make a good amount of money.
double major is always good! I'm studying banking and finance, and for me its better than just finance since all the top high finance careers related content are taught in banking and finance program.
MSc. Accounting Vs Finance: Which Should You Study?
Are you making money in the major you’re in bro?
out of all of them, which one is more heavy in math?
I would say economics with finance coming close behind.
Get all 3 lol.. A lot of the courses overlap. Can be done in 5.5 years easily.
What’s your take on a double major in accounting and finance
Not necessary. I double majored in accounting and economics and at an undergraduate level, you are basically over working yourself for pretty much the same degree.
My advice is go with one and wave your money and energy for something else. Maybe learn modeling or coding on the wide or do internships.
Finance mandem !
I wanted to go for finance, but my school of choice doesn’t have a finance program, so I chose economics with a finance concentration. I’m not terrible at math, but it’s not really my strongest subject either. You think I’ll be OK? I’m still gonna take it either way. 😂
My career goals are to either be a personal financial advisor, or an investment banker. I just need to make sure I’m in the right place for that.
What degree should i get if I want to get better in advance technical analysis in financial markets?
As a economist you have math and statistical skills for everything you want with data (shares, prices, returns, profits, cash flow, etc)
But might you need finance to best understanding about working of money, capital, investments, stock markets and whole financial markets.
You can combine both with 2 majors or master in finance if you're an economist first
@@ivantorres5041 good thing im doing economics and finance for my undergrad then.
econometrics
Hi, if I were not interested to get a job but wanted to own my own ecommerce brand, which degree out of the ones you mentioned would be most useful?
I would advise you to not go to university. Study accounting online, there are countless free material available.
@@decodeeconomics220 my parents are insisting and there would be no way out of it without upsetting them. I've heard from a lot of successful business people to go to uni, saying it doesn't matter what you do at uni you'll regret it if you dont, also uni is free in Scotland so I'm more inclined to go because of that. Do you think I should do something like computer science as that is somehing that is hard to learn on your own?
@@mohammedyakub3760 major in finance as cs minor, also gives you exit if you ever decide to join the workforce
@@Tururu134 when you say finance do you mean accounting or economics?
@@mohammedyakub3760 finance is a degree in itself, seperate of accounting and economic.
Hey bro how is finance with economics?and what job will I get?
Please reply
amazing choice... you can go in investment banking, venture capital, private equity, financial analysis, data science, hedge funds, mutual funds etc.
If you spend 13 minutes a year on economics you’ve wasted 10 minutes - Peter Lynch
what the fck do u mean
Is it possible to learn all the 3 subjects including maths
yess when you major in Business Administration you learn everything but still you have to select one or two things during your specialization.
@@nycto16 What sounds harder to your ears? 1. Certified Public Accountant or 2. Masters Degree in Statistics?
@@mathematicaleconomist4943 I think 1..
@@nycto16 Thanks for your input!
@@mathematicaleconomist4943 :)
and what about a Economics and Finance combo degree ??? i think its ideal ~~~ i hate accounting !!!
SAME
Thank you very much