For those who are Economic majors ...?

Question

What are the most important things you learned as an econ major?

Answer 1

THis is the most important thing an economist must master...ECONOMETRICS.

You can know and master all of the economic theories floating around, but if you can not master econometrics than you are not a true economist.

Econometrics is the bread and butter of an economist. It allows you to conduct professional , peer reviewed research. You can re-read economic theory when you forget, but if you miss the boat in econometric classes at university, lord help you :)

Answer 2

There is nothing definite in economics and there are countless dependencies so things just can not be considered on their own since everything is related somehow.

There are no labs in economics and sometimes theories may not be tested even for decades due to lack of adequate environment.

It takes a few years for a surgeon to prove himself but a lifetime for an economist.

To understand my point, you should read about Frederick Hayek

Answer 3

One of the most important things I have learned in economics is that no two topics can be studied in isolation. Everything you study relates to something else, and in that way, everything you will ever study about the subject all ties in together in the end.

e.g. You might think that micro and macro are two separate topics, but without microeconomics (individual units such as the household and the firm), there would be no macroeconomics in the first place.

Answer 4

bunch of things that cannot be listed here actually. over all way of thinking about different stuffs is different. the major thing is the relation between supply and demand and their effects.

my economics professor used to make jokes sometimes, if u r an economist, ppl automatically look at you seriously. if sb asks u a question, then wrap your hands, act as if you are thinking, and just say 'it depends'. and they will think you know what's going on.