<p>You do know getting a Ph.D. in Economics is (by the numbers) a lot more difficult than getting a J.D., right? Admissions rates (even after years of research experience, work experience, and even publications in the relevant focus) are around 10-15% for Economics Ph.D. programs (and I would assume NYU’s admit rates are even lower), and admission requires a heavy background in math, including but not limited to Advanced Calculus, Ordinary and Complex Differential Equations, Real Analysis, and Linear Programming. Once you’re in the program, data claim that only around 50% of each student cohort actually finishes the degree; the others either drop out due to difficulty and rigor, fail their Qual, or just never finish their dissertation.</p>
<p>A Masters level Economist (working in public/government sector) will make around 40-60k/year with benefits. Many Ph.D.s in government, think-tanks, universities/academia, etc., make well into the 6-figure arena, but this is after 4 years of undergrad, 4-6 years of doctoral work, and 2-3 years of Postdoc (usually, but some amazing graduates find jobs without one).</p>
<p>It’s a waste of time to be thinking about all of this right now. Just focus on majoring in Economics and doing well. When the time comes when you’re an upperclassman, you will have plenty of time to choose between different paths. You’ll also have a better idea at that time of which paths are realistic and which are not. If you’re like the vast majority of upperclassmen at Hofstra, both going to a T14 law school and getting into a strong Econ PhD program would be out of reach.</p>
<p>These careers are totally different. It’s the equivalent of comparing being a physicist to being a pediatrician. It doesn’t make any sense to compare them when you’re this young.</p>
<p>While the OP is encouraged, it seems like s/he has just narrowed down 2 prestigious positions without really knowing whether or not s/he is capable of attaining them, and then blindly submitting to choosing the one that brings in more $ without knowing what the job actually entails. A pretty useless conversation since on top of this, most people change their majors a few times (a HS senior does not know if s/he will enjoy Econ for 4 years - must actually experience it) and career paths change too. If college students and working adults are so seemingly fickle (or just subject to changing circumstances), why is a HS student’s optimistic trajectory a topic for serious discussion?</p>
<p>Also, if you want a shot at any top Economics grad school, you should probably be a Math Major or Math/Econ Double. Whether or not you have an economics background is trivial compared to your ability to handle the maths during your Ph.D.</p>
<p>Knowing that you need to take a LOT of upper-div math classes (including ODE, Real Analysis, Calculus, etc.), you won’t be able to play the numbers game and take a lot of GPA boosters.</p>
<p>I am a senior in college looking into Econ grad program and Law schools…If you are really interested in the two fields, there are a number of dual phd and law degree programs available…honestly all the other posters saying its too early for you to be thinking about it is right…you might not find the econ classes as interesting or you might find that your skill set is better used in another endeavor…but others saying the two fields are not related are wrong…the dual programs offered at prestigious schools (although extremely competitive) are for students aiming to end up in policy making roles, in banks or international companies…but if you are serious i would recommend double majoring in math like I am doing, getting a professor to mentor you, get good research experience and keep up the grades…if your grades are good then research experience under a respected professor can put you right up there…good luck!</p>
<p>But of those positions, which require (or even prefer) people with dual-degrees? I just graduated with a Joint Math/Econ degree with a 3.8, and considered JD/Ph.D. degrees, but ended up finding out that this doesn’t do anyone any good (besides having more letters next to your name). Honestly, I don’t think a person with dual-doctorates will necessarily have a leg up on anyone with one or the other.</p>
<p>None of the above. If you’re interested in Econ, get a 4.0 your freshman year in easy classes; write kickass essays and transfer to an i-banking target school; major in Economics with a high GPA; nail a post-junior year internship at Goldman or wherever; secure a job on Wall Street postgrad. Profit.</p>
<p>“Very high GPA” isn’t as high as you think for Econ Ph.D. admissions. Overall GPA isn’t as important as your GPA in certain math courses (Math Reasoning, Real Analysis, ODE, Linear Algebra, etc.).</p>