Im majoring in Economics...?

Question

I am majoring in Economics, Im not that great at math, however, Im determined to excel in this field. My ultimate goal is to become a Business Analyst for a great company. Im a little nervous not being as strong in math. I did well in Macroeconomics, and will be taking Micro, Statistics and Probability, and Calculus next semester. Please Economists' provide some type of encouragement. Thanks!

Answer 1

Well, you already have what's most important: a determination to excel. However, in economics, as it is taught in most colleges, math plays a very important role. So, you really have no choice but to really make an effort and learn (and be comfortable) with the basics of math. You definitely don't have to be a whiz at math, since for most economists math is only a tool (a very important one, by the way) but it is definitely not the focus.

I would say more than math, it is most important for an economist to understand the theory, since that is precisely what sets us apart from other social sciences. The way economists conceptualize problems and propose solutions is what distinguishes economists, and this can only be done when you  understand and apply the theory.

You will definitely be a great economist if you are able to dominate both the theory and are comfortable with the basic quantitative toolkit of an economist: basic statistics  (central tendency measures, hypothesis tests, confidence intervals, distributions..) math: algebra, matrix algebra,derivatives and integrals.

So my advice to you is don't be nervous, just do the work. If you approach the subject feeling and thinking like it is going to be difficult and you are not smart enough, guess what? it is going to be difficult, but not because you are not smart enough, but because you made yourself believe it is so and you will be too stressed to study.

I learned this the hard way. I started with low grades on my first microeconomics class and right after the first midterm I began to freak out because I was sure I was going to fail. Well, sure enought the first midterm was a disaster even though I studied and studied and studied.

Then I went to my T.A., told him how I felt and he made me realize that even though I was studying hard I was studying the wrong way. I was just too stressed and focused on failing that I couldn't really learn anything. But after I stopped worrying about failing and instead began to focus on NOT failing, I was able to relax and study just for the sake of learning, regardless of the grade. Well in the end I turned around those low grades and ended with an A-

Believe me, it is not as hard as it seems now to you. If you are determined to succeed just know it will take time an effort from your part. Be relaxed, your in it because you enjoy it, you've done well in macro, so that proves you're smart enough. Just take it little by little, ask  questions when you don't understand (don't be shy!).

And if you already know your not that great at math, then what are you waiting for! grab a math book and read a few pages each day and practice. That is really the only way you'll ever learn anything: practice.

Hope it helps. In a few years, when you've become a business analyst, you'll look back and think "well it wasn't that hard"