Mathematics, and Economics Job Prospects

[Domn]

Hi everyone, I've set up my schedule through the next three years so that I will be able to graduate with a double major in mathematics, and economics (both bachelor of science). I was just wondering if anyone knew the job outlook on these two degrees. I have a strong interest in both disciplines, and feel that they both benefit each other quite nicely.

I was also wondering how other countries look upon degrees from american public universities. I've always wanted to live in Europe for a few years, and was wondering if these degrees will allow me to find work internationally, or if I would need a Masters, or PHd in economics in order to find work related to the field. I'm mostly looking into economic consulting, or economic development as future career plans.

 

[Hercuflea]

You will be very well prepared for a graduate entry in economics. Back when I was an econ major I was constantly looking at grad programs, and the number one thing that they desired in applicants was strong math background. Most of them wanted a minimum of 1 sem. Real Analysis, one sem. Linear Algebra, Statistics (not the gen ed one), Calc1-3, and differential equations but preferable more. Honestly it might be easier for you to just drop the second major and just do a minor in economics, because you will cover the basic quantitative econ prerequisites of Intermediate Micro and Macro, and Econometrics without worrying about all the "liberal-artsy" fluff classes.

 

[lambgyro]

If I told you the job prospects in math and econ right now were dismal, would you switch majors? If so, why? If you still have three years of undergrad left, you are quite young, which means you have many years yet ahead in which to betray your passion for a good paycheck. It sounds like you really like math and economics. That is to say, you are intrinsically motivated. So just go for both if you love 'em. You don't know where they'll take you, but try to enjoy the ride. Take classes that engage your curiosity, even if they're "liberal-artys fluff classes".

I think you're getting ahead of yourself with your concerns. Think about grad school in another year or two, at the earliest, and for now just expand your mind and keep your grades up. I have a feeling you're looking for affirmation of a decision you've already made- that of majoring in math and econ, which is fine. You're doing fine. Really. Grad school and working in Europe are not scenarios likely to be affected by decisions you make now, with the caveat that you should major in math if econ graduate school interests you.

I don't know if you've heard much about it, but Europe's economy is booming right now, and there is actually a labour shortage. The European Central Bank in particular is short on economists to help restructure Greece's loans, so as to ensure they remain forever in debt peonage. Getting a job should be easy.

 

[Locrian]

I don't know if you've heard much about it, but Europe's economy is booming right now, and there is actually a labour shortage.

I wasn't aware of this.

I do know that European GDP growth was negative in 2012. I know that http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/4-05022013-AP/EN/4-05022013-AP-EN.PDF , housing prices are falling and other economic indicators are also negative.

I also know that http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-01022013-BP/EN/3-01022013-BP-EN.PDF[/url More importantly, youth unemployment is well over 20% overall in Europe. More than half of all young people in Span and Greece are out of work, and youth unemployment rates in several other countries are over 30%.

There might be a country within the EU that is "booming" and hiring, and there might be good subsectors within even the worst countries. . . but you'll have to explain how Europe as a whole is booming and a great place to get hired.

 

[Matrix0]

I can say that having a double major in mathematics and economics can provide you with a strong foundation for various career opportunities. Both mathematics and economics are highly valued and sought after fields in many industries, including finance, technology, government, and consulting. With a double major, you have the advantage of being able to apply your skills and knowledge in both areas, making you a valuable asset to potential employers.

In terms of job outlook, both mathematics and economics have a positive outlook with a projected growth rate of 7% and 14%, respectively, according to the Bureau of Labor Statistics. This means that there will be plenty of job opportunities in these fields in the near future. Economic consulting and economic development are also growing fields, so your career plans align well with the current job market.

Regarding international job prospects, having a degree from an American public university is highly regarded in many countries. However, it is always beneficial to have a diverse educational background, so pursuing a master's or PhD in economics could open up even more opportunities for you in the global job market. It is also important to research the specific requirements and qualifications for the countries you are interested in working in.

Overall, your double major in mathematics and economics sets you up for a successful and fulfilling career. It is a great combination of analytical and problem-solving skills, which are highly valued in many industries. I wish you all the best in your future endeavors.