I recently got accepted for NYU's LSP program and am later planning on transferring to the CAS program for Economics. However, today, I was accepted into Carnegie Mellon's Economics program as well. I am looking for quality of education, reputation, social life, opportunities available outside of school, and cost of living.
I think NYU would give you a social life, a prestigious and also unique school, and the ECONOMIC MECCA OF THE FREEKIN WORLD.
thats what I think.
But NYU is also not a traditional college campus, maybe that matters to you...
From someone who also applied to both NYU and CMU, I think that your best interest would be to go to Carnegie Mellon. I love NYU, the campus, and the city as much as anyone. However, a economics degree from CAS does not look as great from one from Stern. NYU is a great school, hands down, but CMU also has a great, well-respected economics program. It's also likely to be financially doable.
While NYU might have the internships and Wall Street, I would consider how much you are going to be in debt after graduation. (Good luck-it's a tough choice that I am going through too!)
I got accepted to both schools, and my advice would be to pick NYU over CMU only if you got accepted into Stern. CMU is more prestigious than CAS, and keep in mind that many of the banking/finance internships go to Stern students (my friend suffered through this). Another friend doing CAS Econs did get awesome job opportunities, but she was one of the top in her class.
Then again, since debt is around the same, there really is no other place than New York. And if you're not focused on the finance industry, there are tons of internship opportunities you could try out. I think it boils down to your personality. Would you like a more vibrant, fast-paced lifestyle (NYU), or a more laid-back campus (CMU)?
A Econ degree from Carnegie Mellon will give you more job opportunities than an Econ degree from NYU College of Arts and Sciences. It's just that CMU is more prestigious. I would recommend NYU over Carnegie Mellon if you were able to would transfer from LSP to Stern Econ. However, the retention rate at Stern is quite high. Also I hear its very difficult if not impossible to go from LSP to Stern whereas Econ at Tepper is possible and Tepper is equitable to CAS so just off that alone I would choose CMU.
I wouldn't say CMU Econ is more prestigious than NYU CAS Econ. If I'm correct, Carnegie Mellon is most prestigious in areas like Engineering and Comp Sci, which NYU doesn't really even have. The question here was between NYU CAS and CMU Econ, not between these and Stern... Obviously a Stern degree looks a bit better than either CMU Econ or CAS Econ in the finance world but in terms of pure economics, I would argue that NYU CAS Econ is level with or better than CMU Econ.
That said, the two schools are very different. Carnegie Mellon, I'd imagine is a little "nerdier" while NYU students tend to be more "hip". CMU would offer a more traditional experience while NYU is utterly urban. NYU would offer you much greater opportunities outside of school, but the cost of living is significantly higher.
The two biggest issues you have to consider when comparing CMU and NYU before we even get into the Econ debate, is whether financial aid or social setting are important to you. I would say if you applied for financial aid and you get more money from whichever school, go to that one. Also, no doubt NYU is much better for the social scene, but as nyyankees2012 said the living expenses are pretty high if you wanted an apartment/permanent living.
Now for the Econ part. NYU is 100% better for internships during your 4 years there because you can just go and commute back without much difficulty. If internships are important to you, I would choose NYU. I know someone who graduated from CAS Econ and he said while he was there he got two internships, one at a hedgefund and one at a consulting firm. So the opportunities are there. Also, NYU CAS Econ is rated 7th in the world currently. The one thing that seems kind of iffy is whether you are okay about being in LSP. You would only go into CAS Econ junior year, so that might hurt you a bit on the internship side of things, as well as specialization in Econ. But once you're in CAS it'll be fine and anyway nobody really cares if you were in LSP. Carnegie Mellon also has a very highly rated business school, but if you aren't in the business school and are doing Econ in another school, it might not be the same experience. However, as I said before, do keep in mind NYU is slightly more expensive, if that's an issue for you.
In terms of reputation, both schools have top notch brand names. A possible deal breaker here is whether you are got into CMU's business school. If that isn't the case, I would give the edge to NYU. From what you say is important to you (reputation, opportunities outside of school, social life, etc...) I think I would take NYU CAS Econ.
Depends what you want to go into. But the simple answer would be NO.
For finance, Stern has a leg up just because employers and recruiters regard Stern kids very highly because Stern is the #2 finance program in the country. But that doesn't mean you can't get a GREAT internship. It all depends on how hard you work and how you do in interviews, networking, etc... You can definitely get top notch internships in other fields.
CMU and NYU both have pretty good research opportunities because they each have great facilities. Actually, NYU sometimes pays for you to do research there so research is encouraged at NYU. CMU has some good research opportunities also because it's a top engineering/computer science school, so research in those types of fields will always be available.