Prospects of Economics degree

[Skye]

I do understand that the maritime industry isn't doing well now due to the weak crude prices from new gas explorations. But this doesn't mean that the industry will stay recessive forever. Maritime sectors are usually most vulnerable to repercussions around the world and especially hardest hit in singapore due to us being an open economy. Somehow it will pick its way up sooner or later. Many other industries (not only maritime) dont do well too in times of economic peril but eventually it all depends on how hardly hit it is by economic factors.

Originally Posted by Skye

I do understand that the maritime industry isn't doing well now due to the weak crude prices from new gas explorations. But this doesn't mean that the industry will stay recessive forever. Maritime sectors are usually most vulnerable to repercussions around the world and especially hardest hit in singapore due to us being an open economy. Somehow it will pick its way up sooner or later. Many other industries (not only maritime) dont do well too in times of economic peril but eventually it all depends on how hardly hit it is by economic factors.

The problem is if you know when O&G will pick up you don't need to work liao, can join Warren Buffet.

Even if O&G will eventually pick up, there is no way to know when and to what extent. Don't end up like those IT grads in the early 2000s waiting for the rebound which eventually happened in 2015. By then they already so out of touch, too old w/o exp and most already move on to other industries.

[armanikode]

Originally Posted by Unregistered

The problem is if you know when O&G will pick up you don't need to work liao, can join Warren Buffet.

Even if O&G will eventually pick up, there is no way to know when and to what extent. Don't end up like those IT grads in the early 2000s waiting for the rebound which eventually happened in 2015. By then they already so out of touch, too old w/o exp and most already move on to other industries.

OP, with an econ degree you can do maritime in addition to other things. A maritime degree will allow you to do maritime but may not allow you to do stuff like econ policy, finance, market research, trading as easily as an econ degree.

But you'd need to stand out from your peers to land jobs where economic knowledge is put to regular use.

recent econs grad from one of the 3 local Us here. my advice is, if you are very clear about your goal that you want to work in shipping, go for the maritime degree. no doubt about that. an econs degree is only really useful if you wanna do postgraduate studies, or work as an economist (in most cases this means postgrad studies, but you can land junior economist roles at MTI MAS etc i believe). okay maybe it does enhance your thinking skills a little bit, but i think it'd be unfair to say the other degrees don't encourage critical thinking.

one of the previous posters is right. save for econometrics or finance, you learn zero useful industry skills in econs. and even econometrics isnt very applicable beyond research roles (tough to get as an undergrad). and you DO NOT learn the really useful finance skills in econs. i repeat, if you wanna know how to do financial modelling, don't do econs. do finance. nowhere else will teach you how to do a DCF, LBO/M&A model, etc.

however, SMU econs may be an outlier because SMU provides you many opportunities to learn industry relevant skills. and they have a great career service. so if i were you i would stick to the SMU econs offer.

if there's one advice i'd give to all prospective econs students, it'd be to expand your skill set. i had to learn a ton my own to secure what many ppl would regard as a 'prestigious' job, and i would say it had nothing much to do with my econs training. econs is fun but sometimes doing something less fun may be the more practical way out.

4 years of university is a long and pivotal time of your life. Don't worry so much, go for a course that you are interested in. Interest is important as it is easier to get a good grade for something you actually want to learn.

Many SMU Economics degree alumni are doing well, both in the government and private sector.

The only regret I have is the business culture of SMU. I felt like I had entered the work force 4 years early and did not have a real uni experience.

As for your possible interest in maritime industry, what exactly do you want to do? Bunkering, trading, brokering etc don't need a maritime related degree. But if you want to be a ship captain, then you need to go to the marine academy.

Good luck.

[Skye]

Thanks for the constructive insights. Im still weighing the pros and the cons of either going for generalization or specialization. Reason why is because smu offers a maritime track for econs and im contemplating whether it is better to go for one which has wider job opportunities or one which is industry specialized like maritime studies. I'm keeping my options open for now but if im involved in the Maritime, most likely I'll be doing ship chartering or bunkering related.

[armanikode]

Originally Posted by Unregistered

4 years of university is a long and pivotal time of your life. Don't worry so much, go for a course that you are interested in. Interest is important as it is easier to get a good grade for something you actually want to learn.

Many SMU Economics degree alumni are doing well, both in the government and private sector.

The only regret I have is the business culture of SMU. I felt like I had entered the work force 4 years early and did not have a real uni experience.

As for your possible interest in maritime industry, what exactly do you want to do? Bunkering, trading, brokering etc don't need a maritime related degree. But if you want to be a ship captain, then you need to go to the marine academy.

Good luck.

If you're still here. Curious, what are you all taught at SMU econ to have a full-time employment rate 10 percentage points higher than NTU econ and 2 p.p. higher than NTU MAEC? The core modules seem to be similar to NTU econ and NTU MAEC is basically a math degree with economics as frosting.

Originally Posted by armanikode

If you're still here. Curious, what are you all taught at SMU econ to have a full-time employment rate 10 percentage points higher than NTU econ and 2 p.p. higher than NTU MAEC? The core modules seem to be similar to NTU econ and NTU MAEC is basically a math degree with economics as frosting.

I can't say for sure how we did it, especially when I do not have experience at NTU and NUS. I think the compulsory internship and the ease of applying for internship through SMU portal helps. There is actually a team of full time staff that seek out companies/organisations for students to do internships. I was encouraged to secure a job in my final year, before graduation. Many of us try to do that so it also helps us secure a job fast. I guess there is some peer pressure of not wanting to be the last one who hasn't received a job offer.

[armanikode]

Originally Posted by Unregistered

I can't say for sure how we did it, especially when I do not have experience at NTU and NUS. I think the compulsory internship and the ease of applying for internship through SMU portal helps. There is actually a team of full time staff that seek out companies/organisations for students to do internships. I was encouraged to secure a job in my final year, before graduation. Many of us try to do that so it also helps us secure a job fast. I guess there is some peer pressure of not wanting to be the last one who hasn't received a job offer.

Thanks for coming back to reply man. I see, yeah I do feel that I don't have as much pressure to land this or that internship as compared to my friend in SMU.

hello! this is the most recent and active forum i can find about econs. im a poly grad wifh a cgpa of 3.29.... may i know if i have the chance to get into any of the big 3 econs? im currently taking a gap year to learn more about finance sector to improve my portfolio. it's difficult to find a job now because of covid...
also, does taking econs the right route for me to become a financial consultant?