{ "media_type": "text", "post_content": "MBB associate with undergrad degree in economics. Loved the degree, though didn’t do much with it outside of class (spent summers on internships, didn’t write a thesis). If I want to do something related to economics, how can I best leverage my current background to do so? Would MS in Econ make more sense than an mba? Maybe MS in stats or data science? Does the MBB background help in any way?", "post_id": "5fa5e65ba16047002816a3fd", "reply_count": 10, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

MBB associate with undergrad degree in economics. Loved the degree, though didn’t do much with it outside of class (spent summers on internships, didn’t write a thesis). If I want to do something related to economics, how can I best leverage my current background to do so? Would MS in Econ make more sense than an mba? Maybe MS in stats or data science? Does the MBB background help in any way?

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Grad school economics is quite different than undergrad, it’s basically just advanced math. If you were interested in generally using data to solve policy type problems, data science or mpp could make sense

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I feel like what I’m trying to get at here is a combination of the two...I’d love to get deeper into the theory/math of Econ AND use that knowledge (plus my consulting knowledge) to solve policy type problems, but the idea of pursuing a PhD or teaching sounds a step too far (would take too long, I’d be poor, and my admissions credentials are weak). Sort of looking for a middle ground here.

Only John Galt knows...

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So I think the main question is to ask yourself what you mean by “do something related to economics” If you want to be in like economic theory, or policy research, or anything that’s more academic, you probably need a PhD. And like someone posted above, grad school level Econ is heavy, heavy math. Most programs won’t admit you with 3+ semesters of calculus and Linear Algebra at a minimum. So be aware of that. If you wanted to go into like financial analysis or investments, it probably makes to get an MBA. Not saying that an MS in Econ isn’t useful, but the types of jobs in investment management or financial analysis don’t really need or value it as highly as they would an MBA. Other than that the beauty of Economics is it’s an incredibly broad field of study. Having said that you probably should figure out more clearly what about it you enjoyed, and then try to understand the career fields that closely line up to that

I mean it’s certainly possible. Getting an MS in Econ will have similar admission standards as a PhD, so if you don’t think you have the math background it might not be a door that is open to you. However, if you really want to get into the field and truly believe an advanced degree will help, you could try to get a different type of degree, such as an MS in Applied Econ (considerably less math based because it is less theory and more practical). Or even a PhD in a somewhat overlapping field such as government, political science, or even sociology. Those would definitely open more doors in terms of academic or think tank research careers. Additionally, you could go work for the federal government. The requirements won’t necessarily require a PhD for the lower level researchers, and it would absolutely help you get into a think tank research gig later if you spent say 3 years working as an economic analyst for a government agency

Really confusing post. How is it you work at MBB and do not leverage your economics degree? What exactly are you doing for MBB? Are you in IT? Every growth or operations strategy requires a significant amount of micro and some macro.

In all seriousness, take any growth strategy and most of the questions are economics related. 1. What are the current market dynamics and how is the industry structure changing? 2. How is value created and distributed from customers (demand) to companies (supply)? 3. How are the supply chains structured and what role do they play in creating advantage? 4. How do companies participate competitively and create differentiation? 5. How do they maximize profitability? What internal changes can they make to improve service levels, cogs, sg&a? 6. Are there other macro or micro factors they should take into account? All of these are pretty standard for every project. There are many more. Any project can have one or more of these or many more.

There are roles at payers that are always looking for Econ analysts. Take a good look at people’s jobs on LinkedIn and the roles that are currently available. I know UHG is currently looking for health Econ analysts. Not sure what creds they want people to have though.

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