UCSC VS Boston U- Master or PHD?

[Thinkheart]

I got admissions from UCSC MS program and Boston University MA proagram.

None of them offer me financial aid though,:doh:

 

I was stuck in choosing which program, and really need your discussion.

 

BostonU ranks 25, good faculty. However, there seems too many negative comments from current students because their professors focus on research very much and seldom spare time with them.

 

UCSC Econ ranking? I don't know, as it should be after 55. I preferred UCSC at first, but the ranking maybe a shortfall no matter in job market or PHD application.

 

Although I planned to find a job with a master's degree, but the economy indicates me to go for PHD program in the future...

I asked for advice from family members and friends nearby. Their suggestion is half-half.:hmm: So I've got trapped in this question. Can some one share some comments with reasonable arguments?

[sir_ceterus]

I got admissions from UCSC MS program and Boston University MA proagram.

None of them offer me financial aid though,:doh:

 

I was stuck in choosing which program, and really need your discussion.

 

BostonU ranks 25, good faculty. However, there seems too many negative comments from current students because their professors focus on research very much and seldom spare time with them.

 

UCSC Econ ranking? I don't know, as it should be after 55. I preferred UCSC at first, but the ranking maybe a shortfall no matter in job market or PHD application.

 

Although I planned to find a job with a master's degree, but the economy indicates me to go for PHD program in the future...

I asked for advice from family members and friends nearby. Their suggestion is half-half.:hmm: So I've got trapped in this question. Can some one share some comments with reasonable arguments?

 

According to IDEAS UCSC is well ranked (Top 40) but BU is top 20:

 

Rankings at IDEAS: Economics Departments

 

I don't think either program gives a crap about their masters students though. I'm assuming you are more interested in macro studies? BU is exceptional in traditional macro and trade. UCSC specializes in open macro and international finance. If you are primarily interested in international econ, UCSC would be perfect, as it really has no equals outside of Harvard in both finance and open macro. If you are not, go to BU.

 

I still think you shouldn't go the PhD route if your heart isn't in it (i.e. YOU). It is not where the money is! You'll likely make more with just your MSc. Do you have any idea of the commitment needed to focus on a dissertation? If money is your goal, you're doing it wrong!

[desperateAS]

I'm also in the same situation. I'm thinking of doing MA in BU then taking on to PhD. My heart is with the PhD, but I'm not sure if I'm doing it right by going to BU for MA. Any idea? I want to take PhD level courses once I'm there, but I don't know if that is possible.

[sir_ceterus]

I'm also in the same situation. I'm thinking of doing MA in BU then taking on to PhD. My heart is with the PhD, but I'm not sure if I'm doing it right by going to BU for MA. Any idea? I want to take PhD level courses once I'm there, but I don't know if that is possible.

 

The PhD is not about course work, it's about research and commitment. If that is the path you wish to take (and are you REALLY sure a PhD aligns with your career goals?), get into the best MA/MS program you can (BU is great), be it econ or stats (depending on your areas of weakness), and ace all of the classes. Just remember: an MA in econ is practically useless on its own, but good as a stepping stone to another graduate degree, as long as you do really well. If you just want to get a job, I suggest an MBA.

[desperateAS]

Thanks, Ceterus. I'm sure enough that PhD is what I'm going after, not money. Since my undergrad GPA is mediocre, I'll do what it takes to ace BU MA, and reapply to top 30 range schools and some top 20. That's why I want to do some PhD level courses (and do well) to boost up my chance.

[sir_ceterus]

Thanks, Ceterus. I'm sure enough that PhD is what I'm going after, not money. Since my undergrad GPA is mediocre, I'll do what it takes to ace BU MA, and reapply to top 30 range schools and some top 20. That's why I want to do some PhD level courses (and do well) to boost up my chance.

 

Another suggestion: Focus on the math (which will be hard enough) and Master's level econ work only. The PhD students have a huge advantage in the PhD classes, and you will be hurting. You don't want to risk the GPA. Read interesting academic papers instead and keep track of the bibliographies (try Zotero). There will be PLENTY of time for irrelevant PhD-level course work when you have to spend another 4-6 years working on a PhD. When you finally make it to a PhD program, then you can take risks, since you will not be burdened with employment concerns and nobody cares if you fail a course.

[student1980]

sir_ceterus,kindly advise me:I have applied for the phd programs(finance) two times,the last being Fall 2009.Well, this time,I got thru one but without aid.However,there is a chance to do an MS in quantitative financial economics...with assistantships.Thereafter,I plan to go for my PhD.

I am an MBA,from India, with research exp & one article due for publication, my math background is not strong at all.So,I am contemplating going for this MS program.

Your advice?:)

[desperateAS]

Thanks alot, Ceterus. You are right. Is it wise to take grad math courses? I've done a lot of upper math already. I have no idea what the grad math courses are, and wonder if it's much harder. Anyway, I really appreciate your advice.

[sir_ceterus]

Desperate: Do not take grad math courses. No point. This is economics, not metaphysical homeomorphic algebra. Tailor the math background to your goals, the higher the rank, the higher the math necessary. If you have a 3.8+ in ODEs, linear algebra, real analysis and an upper division stats class (preferably Probability Theory) you are SET for the top 20. No PhD program expects (or even cares for) more math than this. If you haven't, think of these classes and grades as a goal. Don't be entirely fooled by the requirements of math-raving structuralists though, or you'll end up a statistician when you want to be the next Krugman (hint: the math is just a tool).

 

 

Student 1980: Hmm. While it sounds like the PhD is your plan B (which is not a good start), and that you are likely to bail on the PhD when the economy turns around (you have an MBA), your MBA may be from an unknown university, and finance is a really hot field in academics (that pays well), so I can see your dilemma. Finance has became very competitive, so good luck. If you're grades are only mediocre, then that MS sounds like a reasonable option, but only if you continue on to PhD studies. The assistantship is also a great signal, and will give you ample time to knock out course work. The MS would be redundant with an MBA in industry however. If your grades are solid, just take a couple math classes to show your initiative and competency instead of the MS. Finance PhD programs like a systems of equations/stats quantitative approach, so screw analysis. ODEs, PDEs, and multivariate calc are all you need to get the attention of the top finance programs. Throw in a upper division stats class if you're feeling spunky, and ace all the classes.

[desperateAS]

I've done those classes, and done poorly due to special circumstances. I don't know if I can retake those classes again when I'm in MA program.

[student1980]

Desperate: Do not take grad math courses. No point. This is economics, not metaphysical homeomorphic algebra. Tailor the math background to your goals, the higher the rank, the higher the math necessary. If you have a 3.8+ in ODEs, linear algebra, real analysis and an upper division stats class (preferably Probability Theory) you are SET for the top 20. No PhD program expects (or even cares for) more math than this. If you haven't, think of these classes and grades as a goal. Don't be entirely fooled by the requirements of math-raving structuralists though, or you'll end up a statistician when you want to be the next Krugman (hint: the math is just a tool).

 

 

Student 1980: Hmm. While it sounds like the PhD is your plan B (which is not a good start), and that you are likely to bail on the PhD when the economy turns around (you have an MBA), your MBA may be from an unknown university, and finance is a really hot field in academics (that pays well), so I can see your dilemma. Finance has became very competitive, so good luck. If you're grades are only mediocre, then that MS sounds like a reasonable option, but only if you continue on to PhD studies. The assistantship is also a great signal, and will give you ample time to knock out course work. The MS would be redundant with an MBA in industry however. If your grades are solid, just take a couple math classes to show your initiative and competency instead of the MS. Finance PhD programs like a systems of equations/stats quantitative approach, so screw analysis. ODEs, PDEs, and multivariate calc are all you need to get the attention of the top finance programs. Throw in a upper division stats class if you're feeling spunky, and ace all the classes.

 

Thank you!I would like to remain in academics & therefore,the intentions to to do the PhD!Was thinking that once I can land in the MS program in the US...it will pave the way out to a sound PhD program, with that additional degree & math background(which I really lack)!

[KGkhan23]

Thanks alot, Ceterus. You are right. Is it wise to take grad math courses? I've done a lot of upper math already. I have no idea what the grad math courses are, and wonder if it's much harder. Anyway, I really appreciate your advice.

 

Hi desperateAS. A little advice from John List's most recent thread:

 

That extra math class will help tremendously, especially if it is at the graduate level. In the end, if possible do a double math/economics major.

 

As a general rule, people on this forum tend to suggest that bad math grades can be compensated for by better grades in higher level classes. Best of luck to you.

[Thinkheart]

I don't think either program gives a crap about their masters students though. I'm assuming you are more interested in macro studies? BU is exceptional in traditional macro and trade. UCSC specializes in open macro and international finance. If you are primarily interested in international econ, UCSC would be perfect, as it really has no equals outside of Harvard in both finance and open macro. If you are not, go to BU.

 

I still think you shouldn't go the PhD route if your heart isn't in it (i.e. YOU). It is not where the money is! You'll likely make more with just your MSc. Do you have any idea of the commitment needed to focus on a dissertation? If money is your goal, you're doing it wrong!

 

Yeah, I am generally interested in macro.

To tell you the truth, I think as an undergrad, I am too ambiguous to tell what I am specially interested in.

I am even not so determined whether to go for PHD program after finishing MA. However, it doesn't mean I don't like PHD.

To be more specific:

Reasons why I am not sure about PHD:

1) I haven't take any research work on economics. I do not know whether I'll show great passion in economics research, though I always do some small research or experiments for daily problems that occurs. Some teachers rated me having a research spirit.

2) But the most important factor is that I DO NOT want to stay in university teaching or doing research all my life. I think there's something more essential and beneficial for a person with solid background of economics.

I want to put economics theories into practice and let them work in the real society. That's how economist contribute to the society.

[ramshackled]

Nobody knows what they're interested in until they actually start trying stuff out. Give it a try!

 

Go to BU. Everyone knows BU, both in economics and outside of economics. If you don't want to continue with the PhD, an MA from BU will impress people who don't know anything about economics. This is a very useful effect for getting jobs outside of academia ;-). From what you've said, you really can't lose with going here in my opinion unless the expense for education is a big factor for you.

 

If you really really like surfing, or can't afford BU, then go to UCSC.

[Fatcat]

Hi. I got into the MS in Econ + Applied Fin at UCSC for Fall 2010. I wanted to know if the program was a good way of getting into the IMF or World Bank as an RA? I have a BA in Econ from another UC (NOT Berkeley) and I worked in financial services / financial research for 2 yrs after graduating from school. I wanted to know if the program at UCSC would actually help me get a job at either of the two organizations. From their website, it seems that the program would help me relearn statistical programming (which I never used after college). Will I be valuable to the IMF if I obtained an MS at UCSC? Will I just end up as a data-cleaning monkey? Also, will the RA at the IMF actually lead to anything w/out a PhD? Edited March 14, 2010 by Fatcat
too much irrelevant info at first

[sahimal2009]

I too might be heading to BU for the Masters program. I honestly dont feel that I want to use the program for PhD prep; will rather try taking some MBA and finance courses as electives if possible.

Does anyone know how well the BU program places international graduates into the financial/consulting sectors in Boston/NY? I am not looking for associate level positions occupied by MBA graduates, just standard graduate positions?

Any info regarding this would be greatly appreciated :)

[DSGE_Macro]

BU ranks 11th according to IDEAS. But USNEWS ranks BU 24th. Why?

[tommyg28]

I too need some advice.

 

I'm come from a good undergrad programme, outside of the US. I've applied for PHDs this season and have a couple of OK offers (top 35-40ish), but feel that I could get a bit higher if I had some better LORs as otherwise my application was decent (GPA = 3.8 econ and math; GRE = 800Q, 720V, 5.5AWA, etc.).

 

I was thinking of instead going for a MA first, say at Duke or BU. Would this be a good route to a top 10 PHD school or am I consigned to the backwaters? The main thing I need out of it is exposure to well-known LORs. Given previous posts on BU, in terms of lack of access to faculty, does this narrow my selection down to Duke?

 

Thanks!

[Gecko]

If you want to take MA, I would suggest European MA instead due to the better training :)