So, you want to go to grad school in Economics?

[eqtisadi]

If you're complaining to get respect from other people, don't waste your time. Indeed, many walks of life demand a lot - maybe too much - from people that chose them. Workaholics will work too much no matter what they choose to do. True, in some cases the institutions are such that you must work around the clock.

And you only need the (credible) threat of attrition, even if it's just 1%, and a really hard exam, to make your life hard. Of course, if it's only 30% pass rate than things are more stressful, but the attrition rate isn't the only thing that can drive you nuts while studying.

[Bored]

Originally Posted by KGkhan23

I mean the stuff doctors learn largely requires rote memorization, in contrast to economics which requires you to really have an understanding of complex material. Frankly, most med students (that I know) are not that smart either, at least not as smart I would expect for people studying for what is possibly The Most Prestigious Degree In The World.

This is a good point - Doctors need to be well trained (learn how to recognize previously solved problems and then apply solutions someone else came up with), whereas Economists focus on education (applying general principles and techniques to new problems that have been tackled yet) after a little bit of training up front.

[ramshackled]

Originally Posted by YoungEconomist

Don't med schools have fairly low attrition rates? I'm not saying attrition rates are the by-all-end-all of rigor, but when I hear that law school is tough and that over 99% of people who start law school finish, I have a hard time believing it's that difficult. Thoughts?

I see what you mean. I was responding more to the social life aspect than the actual rigor. The first year might be more difficult than med school, but after that...I'm not convinced it's as bad.

Anyway, attrition rate is one of the main reasons I picked my school...the one with the lowest wins for me!

[ramshackled]

I would want to caution people on sounding elitist about how economics is harder, better, etc. ...

...

...

but what the hell!

ECONOMICS IS THE APOTHEOSIS OF THE UNIVERSE.
ALL ELSE IS INFERIOR TO ITS INSURMOUNTABLE GLORY.

[KGkhan23]

Originally Posted by ramshackled

I would want to caution people on sounding elitist about how economics is harder, better, etc. ...

faster, stronger.

Originally Posted by ramshackled

but what the hell!

ECONOMICS IS THE APOTHEOSIS OF THE UNIVERSE.
ALL ELSE IS INFERIOR TO ITS INSURMOUNTABLE GLORY.

This attitude is actually pretty common amongst economists I know, but I hope my post didn't give the impression that I share it.

[KGkhan23]

Originally Posted by Bored

This is a good point - Doctors need to be well trained (learn how to recognize previously solved problems and then apply solutions someone else came up with), whereas Economists focus on education (applying general principles and techniques to new problems that have been tackled yet) after a little bit of training up front.

Yes, I like how you put it much better. A medical doctor is a professional working in an applied field, whereas an economist, even with all the flaws in our discipline, is a scientist. The former is akin to an engineer, while the latter is more like a wannabe physicist. Though I'm a big fan people like Al Roth, who have taken economics in an engineering direction.

[postgradecon]

Originally Posted by Bored

This is a good point - Doctors need to be well trained (learn how to recognize previously solved problems and then apply solutions someone else came up with), whereas Economists focus on education (applying general principles and techniques to new problems that have been tackled yet) after a little bit of training up front.

I don't know if this is really true... Some medical doctors will go on and do applied research as part of their job (such as in a university hospital), and I think it's reasonable to believe that at least some doctors will be confronted to situations in which the treatments don't work as normal, or where finding the actual problem is not so easy (textbook pictures and real life are two different things).

Anyways, there are much more medical students than Economics PhDs in a given year, reflecting the fact that we need some medical doctors who will just practice medicine in a non-creative, non-research way. Don't forget that not all economists have a PhD, and that most economists will just apply the usual techniques to solve a problem or analyse some data.

Comparing all medical students to only PhD economics students is probably not a sound comparison...

[ramshackled]

Originally Posted by KGkhan23

faster, stronger.



This attitude is actually pretty common amongst economists I know, but I hope my post didn't give the impression that I share it.

Well if this thread had some medical doctors participating, I'm just saying they might be a bit more than annoyed with our assumptions and conclusions on how economics is in comparison to medicine.

[YoungEconomist]

Originally Posted by ramshackled

I would want to caution people on sounding elitist about how economics is harder, better, etc. ...

...

...

but what the hell!

ECONOMICS IS THE APOTHEOSIS OF THE UNIVERSE.
ALL ELSE IS INFERIOR TO ITS INSURMOUNTABLE GLORY.

Very good son. Now you are officially an economist.

[YoungEconomist]

Originally Posted by KGkhan23

Yes, I like how you put it much better. A medical doctor is a professional working in an applied field, whereas an economist, even with all the flaws in our discipline, is a scientist. The former is akin to an engineer, while the latter is more like a wannabe physicist. Though I'm a big fan people like Al Roth, who have taken economics in an engineering direction.

Economists try to act like engineers all the time. I think it is very appropriate to analogize economics to engineering (and many economists have done so). We're constantly thinking we can intervene and make markets better. Implement this tax, subsidy, law, etc... Economists as a whole are often social engineers, or some have even said policy doctors.