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/sci/ - Science & Math

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4759555 No.4759555 [Reply] [Original]

I'm a Finance major trying to decide between taking Econometrics or Business Statistics II. What say you, /sci/,?

>> No.4759560

>>4759555

Flip a coin.

>> No.4759567
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4759567

>> No.4759566

>>4759560
I should have asked:
How are these two similar and different?

>> No.4759577

bump
I don't know where else to ask.

>> No.4759582

I've done a lot of this

1. How much stats have you done so far? Any econometrics knowledge at all?

2. Copy the course summary for each and I'll tell you the difference and what you should do.

>> No.4759583

>>4759577
>doesn't have a undergrad advisor

WTF IS WRONG WITH YOU? GET OFF YOUR ASS DIPSHIT!

>> No.4759595

>>4759582
I did the Business Stats prerequisite course.

>>4759583
I just attended my transfer student orientation and I thought that we would individually meet with counselors, but they just herded us into a room and had us register after handing out our degree audits.

>> No.4759604

At my university all econ majors have to take econometrics or business forecasting (and we all have to take an intro level stats class).

Its widely understood among us that business forecasting is the cheap easy class that will teach you nothing, and that econometrics is really hard but important for any legitimate work.

>> No.4759612

>>4759595
Can you post the course summaries?

Without that I'm very tempted to say econometrics since you're a finance major on /sci/ and unless you loathe stats/math it's definitely better. I've found that anything (in terms of statistics) with 'Business' in the name is the same theoretical content but watered down on the maths.

>> No.4759615
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4759615

>>4759595
>implying there isn't an undergrad advisor

AGAIN....GET THE FUCK OFF YOUR ASS! GO FIND OUT WHO YOUR UNDERGRAD ADVISOR IS AND TALK TO HIM/HER!

\thread

>> No.4759618

>>4759615
What this guy said, i.e. runn nigger, runnnnnn!

>> No.4759626
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4759626

>>4759555
>in college
>too dumb to contact your advisor for questions

Just drop the fuck out now, you are wasting time and money. College is not for you.

>> No.4759632

346 Econometrics
3 hours. Specification of economic models; measurement of variables; estimation of economic relationships and testing of economic hypotheses; ordinary least squares regression and extensions. Prerequisite(s): ECON 120 or ECON 121 or ECON 130; and either ECON 270 or IDS 270.

-------

371 Business Statistics II
3 hours. Continuation of survey of statistical concepts and techniques for operational and managerial decisions. Use of computer software for analysis of data. Prerequisite(s): IDS 270 and MATH 165.

>> No.4759639

Just remember to add your name to the list of persons to be shot when the revolution comes.

>> No.4759641

>>4759639
Will do.

>> No.4759758

bump

>> No.4759789

Econometrics.

Business Statistics is bullshit and wouldn't teach you anything useful. If you're serious about learning Finance, then you have to learn a shit ton of Econometrics.

>> No.4760145

Econometrics is just watered down (calculus) probability/statistics.

Make sure you can program in MATLAB/C++.

>> No.4760223
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4760223

I'm about to start Economy with a side of finance at university. Let"s say I would want to get ahead and start learning right now, what would be a good ressource/what do I NEED to know?

Also what should I hope for if i want a very well paid job in this domain? I heard hedge fund manager was pretty well paid, but what are the other choices.

>> No.4761617

>>4760223
lol Hi I'd like to manage a hedge fund, please. Where do I sign up?

>> No.4761631

>>4760145

That's not true..at all. I literally just finished my econ MA, econometric analysis isn't "watered down" calc and probability.

To OP, econometrics is probably one of the most useful courses you can take. You basically learn how to model.

>> No.4761656

I understand that finance makes you money and all, but it still makes me sad to see so many good minds go into this shit.

>> No.4761673

>>4761656

Understand finance is quite important. I'm happy that we have people who analyze the things like this. I don't understand it all myself, but I'm sure the stock market is one of the most complex systems in the world. I mean seriously, have you seen the complexity of pricing models and stock variation? It's crazy.

>> No.4761712

>>4761656
Only the things that I like are important or worth pursuing.

>> No.4761716

>finance
>a hard science

>> No.4761719

>>4761617
Come on now you know this isn't what I was saying. I'm just asking for direction on what study to get a head start at Uni.

>> No.4761726

>>4761716

I don't think anyone claimed that here. It's not a hard science, but that does not mean it's not important.

>> No.4761738

If its not austrian economics then you are literally wasting your time.

>> No.4761753

Econometrics for sure

Unless you can get into a legit statistics course

>> No.4761771

>>4761656
Why? If no one was doing this you wouldn't have any funding for your own research.

>> No.4761780

>>4761771
uh no, you don't need to have something like 20% of the GDP in "finance" to be able to spend money on things...

>> No.4761787
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4761787

>>4761738
>austrian economics

>> No.4761788

>>4761780

You don't know shit about finance.

Finance intern here

>> No.4761793

>>4761738
>austrian economics
Shouldn't it be called "somalian economics" in this day and age?

>> No.4761797

>>4761793
>>4761787
Tell me how using statistics you are supposed to actually "understand" or predict or measure the economy? The data based approach is a pure load of dogshit, its kinda like looking only at the stock prices rise/fall and playing a fucking guessing game instead of learning about the company/predicting how things will be in the future.

>> No.4761807

>>4761797

> instead of learning about the company/predicting how things will be in the future.

This is econometrics

>> No.4761808

>>4761797
>The data based approach is a pure load of dogshit, its kinda like looking only at the stock prices rise/fall and playing a fucking guessing game instead of reading Ayn Rand and making up an imaginary system that sort of sounds like it could be possible

>> No.4761826

>>4761807
I don't think EMPIRICAL STUDY of the economy is ever really possible.

Humans are not chemicals in a reaction or physics objects where you can mathematically predict how they will react in a given situation.

>Economists from the Austrian School argue that aggregate economic models are not well suited to describe economic reality because they waste a large part of specific knowledge. Friedrich Hayek in his The Use of Knowledge in Society argued that "knowledge of the particular circumstances of time and place" is not easily aggregated and is often ignored by professional economists.

>>4761808
Let me ask you this, using your fancy economics, how do you tell when you are in a bubble or when its normal growth/expansion?

>> No.4761832

>>4761826
>Humans are not chemicals in a reaction or physics objects where you can mathematically predict how they will react in a given situation.

2/10 way to blow your load early.

>> No.4761839

>>4761832
How does it feel to be wasting your whole life constructing worthless statistical models that will just be laughed at by everyone outside of finance/economics?

>> No.4761842

>>4761826

It's hard to tell when you are "in" a bubble. There are some general indicators though. Indicators include but are not limited to:

>High credit build up for 12 or more annual quarters
>Unexpected price rises in assets for no apparent cause
>A higher than expected increase in supply in the very assets in which prices are rising.
>Lower financial Sharpe ratios in given assets

It's not fancy, but if you knew anything about econ that is pretty apparent. And btw, this is observable using econometrics

>> No.4761843

>>4761839
Who outside of finance/economics looks at these models? And even if they did, they wouldn't understand enough to laugh at.

>> No.4761846

>>4761839
The same goes for physics

>> No.4761848

>>4761839
How does it feel to believe in a school of economics that has no application or connection whatsoever to the real world?
>HYPERINFLATION 2009 LEL
>BUY GOLD LELLEL
>RON PAUL 2012 LELELELEL

>> No.4761851

>>4761846
physics is a little different from human interaction.

>>4761848
How does it feel to know that ron paul has made well over 600% on his investments over the last 10 years?

I would say that austrian economics is sure as hell more in touch with the real world then mainstream economics or statistics based economics.

>> No.4761852

>>4760223

>Entering finance
>No contacts within the industry
>Lol Y do all jobs want a PhD with 5-7 years experience?
>Baahh uneemployed.

>> No.4761861

Finance is one of the most popular majors in america, which baffles me because it is very quickly becoming like the field of Law.

I'd rather work in R&D for a company than have a bunch of try-hard koreans and uptight jews for bosses.

>> No.4761865

>>4761852
Tell me, when has Austrian Economics predicted anything accurately?

>> No.4761866

>>4761851
>I would say that austrian economics is sure as hell more in touch with the real world then mainstream economics or statistics based economics.
Name one single country that functions according to Austrian principles and isn't a pirate infested third-world hellhole.

>> No.4761862

ITT: physics majors or engineers pretending to know econ

>> No.4761868

>>4761865
housing bubble for one, dotcom bubble, etc.

>> No.4761869

>>4761788
When 20% of your GDP comes from moving money instead of manufacturing, agriculture, or provision of goods and services, there is a problem with a state.

>> No.4761874

>>4761866
Textbook fallacy, try taking some debating classes with all your magical finance money.

>> No.4761880

>>4761869

Reallocation of funds doesn't change GDP. It changes the way it's spent.

>> No.4761883

>>4761874
>Ad hominem
You sure are an authority on debating.

>> No.4761886

>>4761880
That's the point you retard and its an example of why statistical approachs are garbage.

Economics is the process of wealth creation and accumulation, which is only LOOSELY connected to actual money/gdp.

Increasing GDP for the sake of increasing GDP is literally fucking retarded.

>> No.4761897

>>4761886
>Economics is the process of wealth creation and accumulation, which is only LOOSELY connected to actual money/gdp

Economics is the study of choice. People chose to do things because of incentives. Incentives are created by time and money. This is the heart of economics. There are several fields of econ though which study GDP more in depth (Macro). But that is really only one field. More of econ is involved in what I said earlier, the study of choice. Firms do as well as they do because of economics, more precisely econometrics. Measuring income smoothing, propensity to spend,ect is important to ALL firms. You won't find one that does't hire economists to do that.

>> No.4761915

>>4761897
You can as well argue with a /x/enophobe, give up.

>> No.4761916

>>4761886

Your point doesn't make sense. How are you telling me that this when you just said >>4761780.

Making statistical models that describes demand behavior is quite accurate. If firms didn't do that, they would fail.

>> No.4761922

>>4761915

Wut? Your jumbled words sound like junk from /b/

>> No.4761929

>>4761922
... you never heard of board demonyms?

>> No.4761937

>>4761929

>You can as well argue

This is what I was talking about.

>> No.4761947

>>4761897
Sure they have economists to do things, for a business MONEY is what is important, not wealth creation, so measuring money to them is more relevant.

>>4761916
I don't get what you don't understand.

>>4761937
Is english not your native language? Because that's perfectly understandable.