Finance is useless on the undergrad level?

Lil_Wayne_Fan · 04-11-2008, 02:21 AM

Someone in another thread said "I major in economics because finance is useless on the undergrad level"

what does he mean by that????????

hockeydemon05 · 04-11-2008, 04:49 AM

Yeah, I saw that too. I'm going to major in Math Finance/Statistics (one major). Supposedly combining math with finance would be a good thing. Luckily I picked that major I guess.

CollectivSynergy · 04-11-2008, 11:16 AM

Only if you're thinking of quant management firms. Otherwise, it just shows you have a logically oriented mind.

And no, finance isn't useless on the undergrad level.

C-Revs · 04-11-2008, 01:40 PM

Definitely not useless, but is it going to prepare you completely for a job? Most likely not, but what does? It's all about laying the groundwork, and I think it gives you a good perspective.

Also, it would be easy to say that economics is useless at the undergrad level too using the same logic. Mostly based on ideal assumptions, oversimplifying models. (FYI I am not putting down economics as I am basically majoring in it along with Finance and Math, econometrics in particular is a very useful class I definitely recommend taking it)

CollectivSynergy · 04-11-2008, 02:10 PM

Yes, C-Revs brings up a great point. Econ is maybe the vaguest "business" major possible, and teaches almost no directly relatable skills, whereas finance at least gives you the basics.

Japher · 04-11-2008, 03:24 PM

Econ is as worthless an undergrad degree as physics is, IMO. With both, in order to get into a related field you'll need advance degrees.

When someone uses phsyics in a way that is practical, we call them engineers.

When someone uses econ in a way that is practical, we call them businessmen.

Do we need theory? That's one for the the philosophy folk, and guess that's the only reason we keep them around; to pawn off pointless thoughts on to.

If you want to study econ, study econ, but suppliment it with business or finance. How many more classes can it be?

C-Revs · 04-11-2008, 04:18 PM

No matter what you take, I think they both help develop the same underlying analytical skills which is more important than, say, knowing how to make a DCF. Those types of things can be taught in training sessions and on-the-job. Both are excellent for thinking critically about issues IMO.

tetrishead · 04-11-2008, 05:11 PM

You need to stop worrying about every stupid thing that is said on every little corner of the internet.

Quote:

When someone uses phsyics in a way that is practical, we call them engineers.

When someone uses econ in a way that is practical, we call them businessmen.

No, we don't. Each discipline has skill subsets, and it is the utilization of those in a specific manner that will result in what we call them. You have a fundamental misunderstanding of... everything, judging from your post, and you'd do well to spent some time on those pointless thoughts philosophy folk focus on. Then again, I suspect if you spend your free time posting to reinforce deeply held notions that are utterly false you're a lost cause anyway.

Quote:

No matter what you take, I think they both help develop the same underlying analytical skills which is more important than, say, knowing how to make a DCF. Those types of things can be taught in training sessions and on-the-job. Both are excellent for thinking critically about issues IMO.

Economics is great for thinking critically, it does not do a good job of developing the "same" analytical skills. Finance is not good for thinking critically, it does a good job of developing analytical skills that are practical. A good finance program is essentially about practical statistical analysis/modeling, which does not lend itself to critical thinking in the way people see it but to plug-in thinking. Economics, unless you structure the courses you take in a certain way, does not explore the practical side of things like capital management and budgeting, firm specific analysis, risk management, policy and structure, performance measurements, etc.

Godsend · 04-11-2008, 05:11 PM

It's useless in a sense. You're probably going to forget most of the stuff because your specific job is going to ask you to do other things opposed to just finance and things of that nature. All degrees and majors are useless.

MightyNick · 04-11-2008, 05:18 PM

Wow. So many dumb responses on this thread.

hockeydemon05 · 04-11-2008, 06:44 PM

Hmm, what do you guys think of this Finance/Math Major:
UCSB Statistics

Calcruzer · 04-14-2008, 07:22 PM

Lots of opposing viewpoints on this thread. I'm wondering if Lil_Wayne_Fan is more or less confused after reading all the responses.

Lil_Wayne_Fan · 04-14-2008, 08:32 PM

I am more confused

Just a guess - Is finance really easy on the undergrad level?

Is that why it's not worth the undergrad degree?

ferryboat10 · 04-15-2008, 12:36 AM

While a finance major can teach you things, it's not light years ahead of a math, econ or acct major in preparing you for work in finance.

tetrishead · 04-15-2008, 10:38 AM

Quote:

Just a guess - Is finance really easy on the undergrad level?
Is that why it's not worth the undergrad degree?

One person said it's not worth the degree. You've taken the word of one person as canon. You're about as easily manipulated as most six year olds.

Have you considered not spending money on college at all and just starting work at McDonalds right now? If you can't parse information I can't see how a degree would give you anything but debt, as you'll undoubtedly fail when you're in the professional world and you have to make your own conscious decisions. You're probably better off throwing all that money your dad is going to spend on BC for you into a well-diversified portfolio and just working some menial jobs for a while.