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vs.harsh · 2009 October 15th, 04:49 AM

Hi..

I posted this in the Graduate Admissions forum, but dint get a reply. I hope some folks here could help me out.

I am an engineer, having graduated in 2008, working in a manufacturing enterprise as a Manager. Even though I did not give it much of a thought during undergraduate years, but somehow I have developed keen interest in economics, and I'm seriously contemplating further studies in Eco. My profile is not really perfect (no papers, no exceptional grades, modest letter of reference's), hence I could use some advice to see my way through, if there is any. Bear with me please.

I realize Graduate programs in US are very much sought after, funding is scarce too, hence considering these, and myself not being very well placed in the competition, I am not trying for US programs. Rather, it's European schools that are on my list.

My undergraduate university was a good one, with an international reputation, the degree is pretty well valued in engineering circles across the globe, and the entrance itself it rigorous enough to make one sharp with Math. I have a few mathematics courses under my belt, and a couple business courses as well, but none from economics. I have, and can handle mathematics to a decent level, I suppose. I haven't taken GRE yet, but I am confident on scoring well on that.

How difficult is it to get through one of Europe's good schools with no economics background, and average academic record? Will GRE score matter a lot? I know it is a tough call, these schools are really sought after by more suitable candidates. Would some of the current or past students shed some light on whether 'economically illiterate', but highly interested people could make to these campuses? And a stroke of luck is not what I'm talking about.

Thanks in advance.

tm_guru · 2009 October 15th, 02:35 PM

Without some coursework in Econ (regardless of the grades received), adcoms will question whether you can credibly commit to 4-5 years as a PhD student.

I would recommend looking into a decent graduate diploma in econ (maybe the one at the LSE) to discover if economics is truly for you. After that, you can consider applying to the master's doctoral streams at european schools, I believe Toulouse, Oxbridge, and some Canadian schools have this route available.

Other TMers more knowledgable wrt European programs should be able to help...

verio16 · 2009 October 15th, 03:11 PM

Maybe a little more decriptive profile would help people give you better advice. Which is this engineering college, one of the IITs? What are the grades like...you can take a look at the profiles thread..

JosephKeith72 · 2009 October 15th, 04:25 PM

If you have good credentials as an engineering student, you should be fairly attractive to a masters program in economics. As the previous posts said, you could then decide whether a ph.d. is the right path.

vs.harsh · 2009 October 15th, 09:24 PM

Quote:

Originally Posted by verio16

Maybe a little more decriptive profile would help people give you better advice. Which is this engineering college, one of the IITs? What are the grades like...you can take a look at the profiles thread..

Thanks all for inputs.
Yes, I graduated from IIT Kharagpur in 2008. I do not have a stellar academic profile, so to speak, among lower averages actually, but my career has been diverse in terms of experiences and involvements in initiatives ranging from social and entrepreneurial to cultural activities. Can I make up for it to some extent through GRE/GMAT scores? Will letter of reference's certifying overall competency (academics and etc.) and competitiveness help?

tm_guru · 2009 October 16th, 03:16 AM

Work experience counts for very little. You need to focus on a graduate diploma or master's in economics, and start from there. You are at the bottom of the ladder in academic economics terms.

Gecko · 2009 October 16th, 01:01 PM

western ontario is open to applicants with strong math profile but almost zilch coursework..

verio16 · 2009 October 16th, 09:59 PM

most masters programs in europe dont require strong credentials in undergraduate economics(some do though). Infact with your math background you are much better off than most students with bachelors in economics from our neck of the woods. The 2yr program at LSE, diploma at cambridge are some examples(look up the respective websites)..
The grades part might be a little complicated. Although the name of the institute and good letter can potetially overcome that..but IMHO i dont think it will be enough to get good scholarships..(PM for details)

Griyoo · 2009 November 3rd, 05:01 AM

Vs. harsh,

Are you trying to make a career switch to an economics-related career? Your questions really depend on whether you decide to pursue a master's degree or a Ph.D...which also depend on the career path you want to take. If you want to become a college professor or economist for the government or research organization, then a Ph.D. is a must. I am currently pursuing a master's degree in economics after having worked 4 years in corporate America. One thing I can tell you is that economics, as opposed to business is very theoretical...so you might want to keep this in mind. That's why I was asking you about the purpose of switching to this field. As other people have mentioned, given your engineering background, you won't have a problem with the math you'll see in economics. Especially if you pursue a master's, you will be taking first and second derivatives most of the time. Since econ programs are usually research-oriented, you will have a good amount of econometrics (statistics applied to economics.) A lot of programs are OK if you have taken any type of statistics course in your undergrad. I am not familiar with graduate programs in Europe, but if they ask for the GRE I would definitely try to get a high score in the math portion. I would say that every piece of the application counts. If you feel intimidated by your lack of economic background you can compensate by talking about it in your personal statement. Talk about other things that you can bring to the program (diversity, different views, work experience, etc) or how you can overcome "economic illiteracy" (maybe getting some basic econ books from your public library?) Sometimes programs accept students but require them to do like a math camp before classes start or take an undergraduate-level econ course before enrolling in a graduate-level course. You will most likely have to take general microecon, macroecon and econometrics in your first quarter/semester as these courses set the foundation of the program.

Good luck with your application!

asa_sl · 2009 November 3rd, 06:05 AM

I think getting a econ masters from good indian economics university ( culcutta,DSE or ISI etc) would be a good option. then you perform well there and can apply for top PHD program in US. beause most of the european masters programs are very expensive and do not give scholarships either.
I think your weak point is not having many economic courses under your belt and your weak undergrads results. but you can overcome it by doing good masters in econ at good indian university.

2009 October 15th, 04:49 AM	#1 (permalink)
vs.harsh I JUST got here. Join Date: Sep 2009 Posts: 5	Need help regarding a career change in Economics. Hi.. I posted this in the Graduate Admissions forum, but dint get a reply. I hope some folks here could help me out. I am an engineer, having graduated in 2008, working in a manufacturing enterprise as a Manager. Even though I did not give it much of a thought during undergraduate years, but somehow I have developed keen interest in economics, and I'm seriously contemplating further studies in Eco. My profile is not really perfect (no papers, no exceptional grades, modest letter of reference's), hence I could use some advice to see my way through, if there is any. Bear with me please. I realize Graduate programs in US are very much sought after, funding is scarce too, hence considering these, and myself not being very well placed in the competition, I am not trying for US programs. Rather, it's European schools that are on my list. My undergraduate university was a good one, with an international reputation, the degree is pretty well valued in engineering circles across the globe, and the entrance itself it rigorous enough to make one sharp with Math. I have a few mathematics courses under my belt, and a couple business courses as well, but none from economics. I have, and can handle mathematics to a decent level, I suppose. I haven't taken GRE yet, but I am confident on scoring well on that. How difficult is it to get through one of Europe's good schools with no economics background, and average academic record? Will GRE score matter a lot? I know it is a tough call, these schools are really sought after by more suitable candidates. Would some of the current or past students shed some light on whether 'economically illiterate', but highly interested people could make to these campuses? And a stroke of luck is not what I'm talking about. Thanks in advance.

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2009 October 15th, 02:35 PM	#2 (permalink)
tm_guru TestMagic Guru-in-Training Join Date: Jun 2009 Posts: 637	Without some coursework in Econ (regardless of the grades received), adcoms will question whether you can credibly commit to 4-5 years as a PhD student. I would recommend looking into a decent graduate diploma in econ (maybe the one at the LSE) to discover if economics is truly for you. After that, you can consider applying to the master's doctoral streams at european schools, I believe Toulouse, Oxbridge, and some Canadian schools have this route available. Other TMers more knowledgable wrt European programs should be able to help...

2009 October 15th, 03:11 PM	#3 (permalink)
verio16 I JUST got here. Join Date: Jan 2009 Posts: 26	Maybe a little more decriptive profile would help people give you better advice. Which is this engineering college, one of the IITs? What are the grades like...you can take a look at the profiles thread..

2009 October 15th, 04:25 PM	#4 (permalink)
JosephKeith72 metricsguy Join Date: Oct 2009 Posts: 41	If you have good credentials as an engineering student, you should be fairly attractive to a masters program in economics. As the previous posts said, you could then decide whether a ph.d. is the right path.

2009 October 16th, 03:16 AM	#6 (permalink)
tm_guru TestMagic Guru-in-Training Join Date: Jun 2009 Posts: 637	Work experience counts for very little. You need to focus on a graduate diploma or master's in economics, and start from there. You are at the bottom of the ladder in academic economics terms.

2009 October 16th, 01:01 PM	#7 (permalink)
Gecko This user's posts are moderated. Join Date: May 2008 Posts: 1,081	western ontario is open to applicants with strong math profile but almost zilch coursework..

2009 October 16th, 09:59 PM	#8 (permalink)
verio16 I JUST got here. Join Date: Jan 2009 Posts: 26	most masters programs in europe dont require strong credentials in undergraduate economics(some do though). Infact with your math background you are much better off than most students with bachelors in economics from our neck of the woods. The 2yr program at LSE, diploma at cambridge are some examples(look up the respective websites).. The grades part might be a little complicated. Although the name of the institute and good letter can potetially overcome that..but IMHO i dont think it will be enough to get good scholarships..(PM for details)

2009 November 3rd, 05:01 AM	#9 (permalink)
Griyoo I JUST got here. Join Date: Nov 2009 Posts: 1	Vs. harsh, Are you trying to make a career switch to an economics-related career? Your questions really depend on whether you decide to pursue a master's degree or a Ph.D...which also depend on the career path you want to take. If you want to become a college professor or economist for the government or research organization, then a Ph.D. is a must. I am currently pursuing a master's degree in economics after having worked 4 years in corporate America. One thing I can tell you is that economics, as opposed to business is very theoretical...so you might want to keep this in mind. That's why I was asking you about the purpose of switching to this field. As other people have mentioned, given your engineering background, you won't have a problem with the math you'll see in economics. Especially if you pursue a master's, you will be taking first and second derivatives most of the time. Since econ programs are usually research-oriented, you will have a good amount of econometrics (statistics applied to economics.) A lot of programs are OK if you have taken any type of statistics course in your undergrad. I am not familiar with graduate programs in Europe, but if they ask for the GRE I would definitely try to get a high score in the math portion. I would say that every piece of the application counts. If you feel intimidated by your lack of economic background you can compensate by talking about it in your personal statement. Talk about other things that you can bring to the program (diversity, different views, work experience, etc) or how you can overcome "economic illiteracy" (maybe getting some basic econ books from your public library?) Sometimes programs accept students but require them to do like a math camp before classes start or take an undergraduate-level econ course before enrolling in a graduate-level course. You will most likely have to take general microecon, macroecon and econometrics in your first quarter/semester as these courses set the foundation of the program. Good luck with your application!

2009 November 3rd, 06:05 AM	#10 (permalink)
asa_sl Within my grasp! Join Date: May 2007 Posts: 168	I think getting a econ masters from good indian economics university ( culcutta,DSE or ISI etc) would be a good option. then you perform well there and can apply for top PHD program in US. beause most of the european masters programs are very expensive and do not give scholarships either. I think your weak point is not having many economic courses under your belt and your weak undergrads results. but you can overcome it by doing good masters in econ at good indian university.

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