Is It Better To Study Economics Or Computer Science?
from the how-about-both? dept
Economist Arnold Kling is pointing out that while fewer college students are enrolling in computer science majors, the number focusing on economics is exploding. It's probably a rather cyclical trend -- but Kling suggests this isn't necessarily a bad thing. His point appears to be that you can pick up enough computer science on the side, but that learning economics could come in a lot more handy -- even in the technology industry. Of course, he leaves out the fact that you can also pick up an awful lot of economics on the side. I'd argue that both skills are important, and it's difficult to see one being much more important than the other. If you have a proclivity towards one, then pursue that -- but if you're really skilled, why not learn both?
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Filed Under: computer science, economics, education, students
Reader Comments
Subscribe: RSS
View by: Time | Thread
[ link to this | view in chronology ]
Second, neither job is "better" in modern and future America. If you want job stability, go for a service career like working in retail at THe Gap or flipping hamburgers at McDonald's. As potential "economist" students, you should ALREADY know this. America is on its way to being a third world nation as it sells out its citizens and labor and science to India, China, Singapore and Russia.
[ link to this | view in chronology ]
Re: economists & the U.S. as a 3rd-world nation
Who do you think sets the economic policy of the U.S. (and the other developed countries of the world) - economists do much more than just adjusting the Fed rate. Ever heard of the World Bank?
Whereas you see the U.S. spiralling into a third-world nation, most of us realize the country has been migrating from a production-based economy to a service-based economy for decades.
You were right on one point, however -- economics students already know this. Maybe you should sign up for ECON101?
[ link to this | view in chronology ]
Re: Re: economists & the U.S. as a 3rd-world natio
Oh, you mean the World Bank? The one that is, IMO, at least partially responsible for the majority of anti-american sentiment across the globe? Yeah, I've heard of them, so has everyone else. It's what we in america don't hear about that is troubling.
http://www.democracyctr.org/blog/2006/01/bechtel-to-drop-world-bank-trade-case.html
here's more info on the background (the background link in the article is broken):
http://www.democracyctr.org/blog/2005/12/wall-street-journal-spins-bolivian.html
Sorr y for the rant, but this info is rarely seen in american media, hmm, wonder why...WAKE UP AMERICA!!!
Also, can't forget, opinion of course:
Service Economy = Modern Feudalism
[ link to this | view in chronology ]
Re:
In America, we gave manufacturing a low social status, compared to more glamorous fields. Then we kicked manufacturing out of the country, for short term corporate profits. Now manufacturing is done in countries that previously needed our charity. Soon we will hold out our hand for their charity.
If you read the news, you'll be aware that the countries we outsourced our production to, are now buying their old customers and/or doing their own research and design work. They are not merely cogs in a manufacturing process - they are intelligent human beings.
No TV sets or radios are made in the USA - not for many decades. India is selling tractors here (Mahendra). IBM sold their PC business to Lenovo (China). There are only two US disk drive companies (Seagate, which is the largest in the world and Western Digital) - and both already manufacture offshore. Now, a Chinese company wants to buy Seagate.
A country cannot be prosperous if its economy is based on McDonalds employees selling hamburgers to Walmart employees, and vice versa.
[ link to this | view in chronology ]
Re:
First and foremost, pointless books and television talk show guests?? do you really think, provided this is true, people would be flocking to this degree field if this is all they did?
Secondly, a service career like Gap or McDonald's? You are partially correct. YES the economy of the US is moving from manufacturing of goods to a service based economy. Now again I you must have zero education, or for that matter common sense. Economics and Computer Science ARE in the portion of the economy that is considered the "Service Sector" Therefore, sure you could get a job flipping burgers, which I assume is the equivalent to your job, and live off of food stamps and government programs the rest of your life, OR you could be proactive and seek education past the 8th grade in your case, or for the rest of us, after High School.
Finally, and I quote: "As potential "economist" Students,..." What the hell is an economist student? An economist is a career field, NOT a field of study. Again if you had a bit more common sense and a decent education you would know, considering they said it in the post that you are commenting on, they refer to this group of students that are aspiring to become economist's as an Economics Student.
I would normally address your notion that America is ging to become a "third world nation", however, given your lack of, and I hate to sound like a broken record, common sense and a decent education, it is not worth it.
ALL OTHERS READING THIS: If there is one thing you should learn from "no" it is simply this; Be Cool, Stay in School!
[ link to this | view in chronology ]
Re:
[ link to this | view in chronology ]
Re:
[ link to this | view in chronology ]
Re:
[ link to this | view in chronology ]
Pffft.
[ link to this | view in chronology ]
Ummm
At least then in 20 years we MAY have a pres that can count.
[ link to this | view in chronology ]
Computer Science vs Accounting
I would recommend to anyone who is thinking about going into computer science to take something like accounting instead unless you have a very very strong passion for computer science.
Property Estepona
[ link to this | view in chronology ]
Re: Computer Science vs Accounting
I'm so sick of this "pick a job based on how much I'll make crap". My advice learn to do something you love to do, if you have that kind of drive you can succeed at anything.
Of course, I'm just probably showing that strong passion for computer science you're talking about....
[ link to this | view in chronology ]
Re: Computer Science vs Accounting
[ link to this | view in chronology ]
After all, it's just a matter of leaders/heroes
Because Science is stangnant and due to the lack of innovation, you have more "economical" heroes that affect our lives, while in beginning of the century and post-WW2 era we had inventors/scientists as heroes.
There are no engineering role-models nowaways, no scientific breakthroughs, but everyone know what is going on with the stock market, US's huge debts to China, and the shifting economics.
End of the day , 50% of education choices come from exposure and "advertising" of a certain subject, and in our times, Economics sure do get a lot of air time.
[ link to this | view in chronology ]
[ link to this | view in chronology ]
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Or be a weather forcaster...
quickly find that you're expected to make correct
decisions and produce accurate results if you
expect continued employment.
With a degree in economics there seems to be no
such pressure.
The short sightedness of the economic policy set
forth in the USA, where quarterly (or more often)
reports rule the management, is destroying
industries by the score every year.
Maybe it's part and parcel of the attention
deficient population... politicians bending
in response to the latest poll, the latest
soft news phenomena, the immediate need trumps
the long term goal. Or is it simply greed?
[ link to this | view in chronology ]
Re: Or be a weather forcaster...
[ link to this | view in chronology ]
No matter how good technically you are as a computer scientist, economist, or engineer, if you plan on advancing in your career, most of your job will be as a manager.
At that point, you'll need the people skills to coordinate your people, leveraging their technical skills to complete the assigned projects.
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Reading a book versus engaging in in rigorous disc
In my experience, very technical areas, like computer programming, can more easily be learned from books and personal experience. More theoretical areas, even ones that involve a significant mathematical or technical component, such as economics, require the discussions that occur in the classroom and among colleagues to really get an understanding of the subject and how to apply it. While programming certainly has general principles, it is very task-specific, and so knowing how to apply it is very task/situation specific, depending upon needs, resources, etc. Economics is more generally applicable and requires a broader set of informed experience from which to draw more general conclusions. Applying the principles of economics to specific markets, companies or situations does benefit from specific experience and training. But the intensive studying required in a good graduate program and the accompanying interactive and rigorous discussions with people trained in the underlying principles is more important to understanding the principles of economics than it is to understanding programming.
[ link to this | view in chronology ]
the real reason
[ link to this | view in chronology ]
Been there, done that...
Getting a degree in computer science nowadays, means more about the web than it does hardware/network. I would not encourage anyone to get a computer science degree, but rather to learn web development. I would move you toward .NET, PHP, VBScripting, Visual C, Java and the likes. Learn to use the Macromedia suite of tools called Studio. There's still a need for the mainframe, so it wouldn't hurt to pick up some COBOL. COBOL still makes the mainframe go round. COBOL is not dead folks, Y2K proved that. Those systems are not retired, as many of the developers on them are. Google COBOL and see what comes up.
Economics can be studied easily because it has its models. Learn the models of capitalism and get on down the road.
[ link to this | view in chronology ]
Re: Been there, done that...
[ link to this | view in chronology ]
To the people that think that the U.S. will be a third world country: In addition to what the others have said about being a service economy, I will add that the U.S. produces most of the economists in the world and these people often have very influential positions, both in the U.S. and elsewhere.
[ link to this | view in chronology ]
In my experience, a computer science degree has little or nothing to do with Hardware and Network - really.
It's primarily mathematics and computer coding. A lot of analytical math classes, perhaps a few statistical - depending on the demands of your school.
Where I took my Computer Sciences classes - we could take about 4 more math classes for a double major - adding Mathematics.
One is not better than the other in either regard, they are two different fields of study, albeit, both Mathematical to a degree, but ComSci is more 'theory' type math - like Algorithms and Calc, whereas Econ would be more statistical.
I've trained a number of interns who - after 3 years in college, didn't know how to change out a Network card :)
But Computer Science's goal isn't to teach hardware repair.
A wise choice may be to Major in whatever your primary interest is and minor in the other..
Funny thing is - it's just a repeat of the past. My Dad has an Economics degree - back in the 60's Education and Business degrees (like Economics) were 'the place to be'. Then in the 80's and 90's - Technical fields came alive again.
I guess the ball's just back in the other court now, lol
[ link to this | view in chronology ]
Re:
Funny thing is - it's just a repeat of the past. My Dad has an Economics degree - back in the 60's Education and Business degrees (like Economics) were 'the place to be'. Then in the 80's and 90's - Technical fields came alive again.
I guess the ball's just back in the other court now, lol
I think that has to do with the simple ebb and flow of job market requirements. For years a tech related major was the place to be...until suddenly there were more people with tech degrees than available jobs. I've seen quite a few people who graduated with egineering degress and became managers at Target, Best Buy, or whereever.
Perhaps the tide is turning toward Economic related degrees now but that will change depending how fast the Economics related job market gets saturated.
[ link to this | view in chronology ]
Umm, Computer Science counts as well. "Programming" is not Computer Science, and I think your assertion that it is proves that Computer Science is not as easy to learn on the side as people think it is.
Learning additional programming languages is (for the most part) just learning new syntax. The really interesting parts of computer science are (again, for the most part) math based, not syntax based.
[ link to this | view in chronology ]
chiming in again...
Re: Accounting vs CompSci -- speaking as someone with a dual-major in accounting and mgmt info systems, i recommend this route for any interested. Most (but not all) business degrees nowadays would benefit greatly by having a minor or major in mgmt info systems. That's just today's business environment.
Re: Prosperity = Production -- you are correct. The major economic indicator is Gross Domestic Product (GDP). Granted, exporting all manufacturing overseas would be disastrous, but don't discount another shift that is going on: we're making less of the base materials, but we're (1) taking those base materials and combining them to produce goods, and (2) we're providing services related to the goods we no longer produce. GDP includes the value of both goods and services.
Re: Short-sightedness of U.S. economic policy - don't confuse the stock market and financial pundits for economic policy. The monthly and quarterly reports wreak havoc on financial markets because they only look at the current report. Take a look at the Fed under Greenspan, and now under Bernanke, and you'll see their actions are more in line with trends and incorporating current reports with the previous quarters/years results. U.S. economic policy isn't knee-jerk and is relatively consistent.
[ link to this | view in chronology ]
Fools
We are the reason that the rich man is selling our country down the drain. We let them get away with it.
When is the last time you saw someone protest against jobs going to China or India? When was the last time you refused to buy one of their products (and don't say you can't do without it because you can.)
When was the last time you called (don't bother writing, no-body reads mail and only subjectively reads e-mails) one of our gutless politicians and made a stand about this sorry state of affairs? One, twice, never?
Until we realize that we are the power in this country; corporations, special interest groups and spinless, corrupt politicians will continue to run over use, and guess what, we deserve it.
Lenin once said “The capitalist will sell use the rope to hang them with.”
Lenin got it wrong, we will loan them the money to buy the rope making machine, set it up for them, help them tie the noose around our necks and even pull the trap door lever for them!
[ link to this | view in chronology ]
CompSci, and where the money really is
Uh, no. Not really. CompSci = The study of the mathematical principles underlying the algorithmic solution of problems. Also known as the foundation of the entire Information Revolution.
You're probably mistaking CompSci with one of those "six month" learn-to-program things.
Meanwhile, Information Systems is more of the application of computers to business. Also an important thing. Personally I went for CompSci, but it's almost a matter of taste, or where you want to concentrate your studies.
To tie all this back to the topic: I've got a CompSci major and an Econ minor. My pay is OK, but if I really wanted to be rich, I'd have gone into investment banking.
[ link to this | view in chronology ]
Re: CompSci, and where the money really is
[ link to this | view in chronology ]
False Dilemma
I would say that people going into economics or CS are investing with the herd, and will find themselves being culled during tough times.
[ link to this | view in chronology ]
the answer:
[ link to this | view in chronology ]
what do you like to draw?
if you like flow charts, then you will love CS. if you like graphs, then you will love econ.
[ link to this | view in chronology ]
[ link to this | view in chronology ]
It all depends on what you like
CS is a discipline, heavy on mathematics and primarily focused on software development - as stated in a previous thread. It strives to provide efficiency in data extraction and manipulation, in such area's as engineering, medicine, and yes, even economics (i.e. models & forecasting).
Economics also utilizes mathematics; especially when creating and understanding their models. However, the economists apply their wares in both commercial and govt sectors. Every financial/banking company; from American Express to Goldman Sachs has a number of on economists on staff. However, to really get anywhere in this profession, one definitely has to pursue a graduate degree - preferably, a PhD.
In the end though, it's really a matter of what you ENJOY doing. Both professions offer a great salary, but if you hate what you do, then does it really matter if you make the big money?
[ link to this | view in chronology ]
"the immediate need trumps the long term goal." - #13 Anonymous of Course
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Re:
[ link to this | view in chronology ]
Currently working for a financial institution has shown me that both skill sets are very important if you look to excel in a global economy that is driven heavily by computer based market evaluation.
[ link to this | view in chronology ]
- make average men powerful and powerful men maintain their power
- make average women more beautiful and beautiful women maintain their beauty
You can look at any society, rich or poor, developed or not, modern or ancient, this is the basic mantra for a successful career.
[ link to this | view in chronology ]
it's quite simple, really
Economics for the Citizen - http://www.fff.org/freedom/fd0503g.asp - Walter Williams
Basic Economics: A Common Sense Guide to the Economy - Thomas Sowell
Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics - Henry Hazlitt
if you think it's for you after reading these, then why not go for it? I actually enjoyed reading these enough to begin to study the various econ "schools of thought." Not quite enough to make me switch careers - but highly interesting nonetheless. Yep, I'm still an it/csc geek and loving it.
If you love learning and problem solving I think both fields will offer an equal amount of challenges. I also wholeheartedly agree with the statement above about doing what you love - not just going for the job that will pay the highest. I've been in it/csc for almost 30yrs (or something - gosh I haven't thought of it recently ... what year is it again ?) and I've seen so many coming in this field who literally say to me that they "got into computers for the money." They rarely last long. It takes not just smarts and intelligence to be in it/csc - it takes a very particular (some would say peculiar) bent of personality. I would wager that econ diehards would say the same of their field.
Hmm, and in that respect, it might be an interesting exercise to examine the ways the two fields are similar and where they diverge .. anyone?
[ link to this | view in chronology ]
Translators required
myList = [a, b, c]
Econ major: OK, give me item 1.
CS major: That would be "b"
Econ major: No the item before that
CS major: You want the 0th item?
Econ major: {smoke coming out of ears} That really makes no sense, does it?
CS major: No, I suppose not.
Econ major: So let me be specific: give me the item in position 1.
CS major: OK
CS major: That would be "b".
CS major: So, let me ask you a question. What is the cost of your Economics education?
Econ major: Well, it depends.
[ link to this | view in chronology ]
Re: Translators required
Should I be proud or weirded out over the fact that I understood that?
[ link to this | view in chronology ]
Is It Better To Study Economics Or Computer Scienc
[ link to this | view in chronology ]
Agreed
RIGHT you are.
computer programming changes every day, standards change Every day, Languages change every day, OS changes everyday...
Eco, and Accounting...Have less to do and are much easier to control, esp if you have a minor in computers.
[ link to this | view in chronology ]
Do what you love
[ link to this | view in chronology ]
you will understand..
that its better to be the ARTIST before you learn how to program..
[ link to this | view in chronology ]
Give me reasons why i should study computer scienc
[ link to this | view in chronology ]
[ link to this | view in chronology ]
[ link to this | view in chronology ]
We are the next Argentina..
Engineering majors are taking over...
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Jobs
[ link to this | view in chronology ]
[ link to this | view in chronology ]
2007 to 2014
I am an economics major and an IT entrepreneur.
[ link to this | view in chronology ]