For many young adults, College is a very important time in their lives. It is the first time that many of them will have to choose their own path from many other options that they can study.
In America, many students who hope to go onwards into corporate America decide to study for degrees in Business Administration. While this is not necessarily a bad thing, a degree in Business Administration is to be honest, a generalized degree, in which one will sharpen skills such as writing, and gain new ones like marketing, accounting, and sales. While this is not a bad thing, lately many colleges have had an increase in students enrolling for courses in Business Administration. As such, with more people enrolling for coursework, classes are fuller, there are more graduates, and the degree, no longer has the cachet that it used to have. As another downside for those who hope to study business, the generalized nature of these Business Administration programs make it really tough to be considered an academically rigorous program. While there are of course exceptions, many business degrees, are considered to be rather flimsy by the corporate world. For those who are set on a career on Wall Street, or in Corporate America, you should not despair. The simple alternative to the Bachelor’s in Business Administration is a Bachelor’s in Economics.
As most people would know, Economics is the study of how the economy works. A good grounding in economics is essential to any person who would like to hold a job on Wall Street, or in Corporate America. When, and if you study Business Administration, you will likely study multiple subjects, which might not all come together and provide the big picture. If you study, Economics you will generally only take course work in Economics, along with perhaps a few politics courses. This means that should you be asked a technical question about the economy, you will be able to answer with a good, and well-respected answer.
Another benefit to studying Economics is that it is a very technical, and academically rigorous topic. Many students will go on for further studies in Economics, and faculty at many universities encourage their students to do so. Employers will give your degree more recognition because it is much tougher to get.
Another group of people also choose to study for a business degree because they feel it will help develop their leadership skills, and prepare them for a life of entrepreneurship. This is perhaps one of the bigger, and more dangerous myths that propel people to study for a degree in Business Administration. While there are classes in a Business Administration degree, that have the goal of teaching, and developing your leadership abilities, the sad truth is that these skills can only be gained, and further developed by being in the hot seat, and picking yourself up after you fail. There aren’t any classes in the world that can teach this to you. It may be hard to hear, but not everyone was born to lead, today most people are content to just follow directions. This brings us to the topic of entrepreneurship. While a business degree may help you find opportunities, or business ideas. This is where as Economics students you will shine, because you had four rigorous years of figuring out gaps in the market. You will see things that need to be changed, and you will probably go about doing it. In short, in four short you will learn to find problems, with what you do about them being up to you.
To conclude, anyone who is interested in a career on Wall Street, or Corporate America should give serious consideration towards getting a degree in Economics. For future entrepreneurs, please remember that the ability to think outside of the box is essential your success.