looking at doing ou degree in economics. worth doing?

[pimping]

hello. i have been looking at doing a degree for a few years now but have been waiting for my works education grant to kick in which basically means i only have to contribute 20% for 3 years running up to a total of a course for £2,000 ish a year. hope that makes sense.

anyway i am really interested in shares, finance and general economics and have been for many years reading up on the subject at every opportunity. the natural choice for myself would be an economics degree but i am slightly worried it would turn out to be one of those degrees which fade into obscurity once completed not unlike degrees in sociology, jedi etc.

motivation for completing the degree is to improve myself and to further my understanding of the stock market and shares. another motivation is employability for the future in case i decide to have a career change or just simply another string to my bow.

any thoughts on the matter gratefully received.

[KenBlocksPants]

Interesting.

Ive been looking into similar myself (although Politics of all things!)

I would say a decent education is ALWAYS a good thing to add to your CV / experience, especially one of such a solid subject (I.E not Jedi).

What do you do for a living at the moment?

Seems a steal with the employer contribution too. My main focus would be make sure it is osmething you enjoy (which it seems to be from your post). Doing this as a part time course will eat A LOT into your person time outside of work so make sure you really really love the subject before committing so much of your own time to it. If you dont have much of a personal interest you will give up when the going gets tough around deadlines etc...

Simply put, if you can get it very cheaply, and you will enjoy it. DO IT!

Also if you have a spare bit of cash (some might disagree with my next comment) Have a punt on the stock market, your best learning tool with Stocks is experience, and most of all making mistakes! Learn with disposable income (you can afford to loose) rather than the hard way.

Hope this helps

[pimping]

cheers for the reply!

currently working as a MP in the army but a change of posting means my nights (shift work) will no longer be busy and i need to fill the time or i'll go crazy. already into the stock market to the tune of heavy and long as its called.

used companys to do my bidding previously but doing all the work myself now which i am really enjoying and seeing more benefit from it too.

law looks the obvious choice but i have to admit its not what i would want to study and even though i have a good grounding in it i just couldn't face studying any more as it literally bores me to tears.

politics sounds interesting but i am a firm believer in sticking to what you know and if you follow something you have a genuine interest in it makes life richer and it seems easier than other avenues because you enjoy it.

[2 5HAN]

Whatever you choose make sure it something you enjoy especially if you are doing it via the OU as you will need to motivate yourself 100%

I would try and get on line or talk to others that have done the actual degree or may be mid way through the degree, this may give you some ideas

Also not sure if Economics is the degree for you? Its very theory based and if its Stock and Shares you are interested in then do you feel that Economic theory is what is affecting your stock shares.

Perhaps Economics and Law?? Business and Law??

What are you thinking of doing after the Army?

Good luck and good on you

[pimping]

post army i still open to offers but something in the financial services seems appealing. being army everyone thinks you are a grunt but to be fair MP is quite specialised.

pipe dreams i know but civilian police does not appeal. done that been there with the whole police thing.

[ringram]

Go for it.
GF just got a job for a bank on 90k+ after about 5 years in the business. Not a trader, just finance/economics dept.

[nomisesor]

Have you looked at the syllabus? If so, do you think that 80-90% of the degree is what you would enjoy doing? If not, look at others. As other posters have said, it is critical that you do something that you will enjoy.
Any "hard" subject will do, especially if you get a 2:1 or 1st. Vocational degrees are not necessarily favoured over less specialised ones*. What you show future employers is that you have self-motivation, intellectual ability and the drive to see a project through to completion.

• From, for example, Goldman's website:

"Finance professionals come from a diverse set of backgrounds and experiences including finance, accounting, economics, mathematics, engineering and liberal arts."

I know people who have had successful careers in the City and business launching from degrees as diverse as Astrophysics, Mediaeval History, and Zoology (not all taken together!).

Good luck.

Edited by nomisesor on Tuesday 28th September 08:53

[pimping]

some really good advice coming through here.

many thanks.

[Eric Mc]

How are you at mathematics - and I mean complex maths - not just arithmetic?

Economics contains a lott of mathemathical theory and understanding of statistics. Even though I'm an accountant, the mathemtaics side of my training was the least interesting to me. Law, mamagement theory, taxation and practice matters were far more interesting.

[pimping]

mathematics is on the ball but i wouldn't say i am any genius by any means. looking at the ou prospectus the three degrees that stand out, in respective choice order are :

1. business studies with economics

2. accounting and finance

3. economics and mathemathematical sciences


i think possibly the maths for choice 3 would be beyond my level of comprehension and understanding if i was to be brutally honest. stuck between the first two choices really.

[munky]

Eric MC, as always, speaks the truth

Any idea what branch of financial services you'd be interested in? Insurance, accountancy, financial advisor? I'd say an accountancy degree would probably give you the most flexibility.

Be realistic though - an OU degree and punting a few shares with your own money doesn't get you into the trading floors of the City.

edited to add, if it's more for your own interest in a topic then pick the subject that's the most interesting to you, to state the obvious!

Edited by munky on Tuesday 28th September 16:55

[pimping]

still stuck between the business studies with economics and/or accounting and finance. which choice would make me more eligible to qualify at a later date as a financial advisor?

still at the first stage of my choice but i definitely know i want to head in this direction and realise that i have ALOT to learn and take in as well as an environmental and personalities change from working in the army. i think with a good work ethic and attitude i will be able to achieve alot.

i am also being totally realistic with this and realise it will be more challenging than most avenues and realise obviously i will have to start at the bottom again and command a lesser salary but that is the way of the world.

obviously salary wise everybody wants to aim high but which are the better paying jobs within the financial services. i have googled much of this but again until you speak to someone who 'lives' it and not just 'googles' it you'll never know.

again thanks for the input spoke to a few less than well informed individuals in the past and they were less than forthcoming.

[ZondaMark]

pimping said:

obviously salary wise everybody wants to aim high but which are the better paying jobs within the financial services.

Would a move to London be on the cards? Capital markets stuff, generally speaking, pays the best (if you're good), but there aren't many opportunities outside the capital (with the possible exception of wealth/portfolio management). Am I right in thinking liquidators are often the best paid acountanty-types?

Edited by ZondaMark on Tuesday 28th September 17:25

Edited by ZondaMark on Tuesday 28th September 17:28

[pimping]

which would be better for employability accounting or economics? i am thinking accounting but not sure.

[ZondaMark]

Do you have any inclination towards a particular branch of finance? Difficult to answer if not.

[ZondaMark]

Also, might a professional qualification be a viable alternative?

[munky]

pimping said:

which would be better for employability accounting or economics? i am thinking accounting but not sure.

Accounting, by a mile. Jobs that require / value economics (e.g., as an economist) are far fewer, and will require a degree from a top university and/or a PhD. An economics degree can help you get into banking, but no more than maths or engineering would. Indeed, in most cases you're better off with a 1st class history degree from Cambridge than an economics degree from just about anywhere else. At least that was the case a few years ago.

Accounting has many uses - you could join an accountancy firm and use that as a springboard into business. I used to go out with a girl that was an accountant for a 2nd tier accountancy firm, now she's CFO of a shipping firm. Just about every company needs accountants, internal or external. Or you can use accountancy to get into banking as a product controller or management accountant - just don't expect it to be fascinating, or pay millions!

[pimping]

no inclination or leaning within the financial services yet but hoping to work out where i want to be after more in-depth investigation of the area.

[munky]

pimping said:

obviously salary wise everybody wants to aim high but which are the better paying jobs within the financial services.

The absolute best paying jobs are, I'm afraid, unobtainable with an OU degree. In the old days you could get in as something else (even the mail room, as legend has it) and move up if you were lucky, but that sort of thing is incredibly rare these days - the only real route in is Oxford/Cambridge or equivalent european university.

Within banking, you could look at trade support (easier to get in, less well paid but still not bad) or finance/product control type jobs with an accounting degree. Or maybe even look at inter-dealer brokers - they act as middlemen between the banks and it's basically a sales job. Requires more schmoozing abilities and a willingness to drink and entertain clients, which may or may not be your cup of tea

[pimping]

cheers munky it looks like accounting is the way forward as opposed to economics. inter-dealer looks a great job. schmoozing sounds good, not sure if its me but i'll definitely give it a try!

i understand ou is not a top flight degree but for me it'll have to do as i still need to work.

seriously looking at ou : Business Studies with Accounting

ou don't do a sole degree for accounting or finance which is disappointing but looks good none the less.