I was literally just talking with my brother about math. I felt like once I got up to learning calculus everything before during grade school suddenly snapped into place as preparatory and foundational all so I would be ready for calc. So yes, keeping up with math is worth it so you can get to the cool/applicable stuff later!
I started doing MIT 18.01 Single variable calculus and 18.06 Linear Algebra and statistics from edX by London School of Economics. I was doing all these courses for Economics but now all I do is math all day, I am just loving it.
I am 1000% a Max!!! At 27 I’ve decided to reenroll and finish my degree. I’ve always struggled with math, but I have so much passion for economics. I understand the importance of math as it pertains to quantitative analysis and econometrics, and I have begun to change my attitude about it because it is so critical to the discipline. I just passed micro and macro this summer with 97% and 93% because it was all material I’ve already known, but it is a little intimidating moving forward. It feels like economics is too much math, but little history, and history is where you learn more of how it impacts us (my opinion), but I must say I really appreciate this video. Very great advice here!!
“If I couldn’t formulate a problem in economic theory mathematically, I didn’t know what I was doing. I came to the position that mathematical analysis is not one of many ways of doing economic theory: It is the only way. Economic theory is mathematical analysis. Everything else is just pictures and talk.” Robert Lucas Jr.
For sure, but the key qualifier is "economic theory." I can learn the principles of engineering and have a decent understanding of my world without understanding differential equations. Most people aren't going for that level of analysis in engineering or in economics. Sometimes pictures and talk are what we need.
Change to Political Science or Sociology. Don't study Economics if you hate math. I'm studying Economics as a second career after I got my degree in Linguistics, and learning Math was a bit intimidating for me, but then I realized every mathematical concept has a visual/graphic representation which makes it a lot easier to understand in the format of videos here in TH-cam. So, if you're having troubles learning math, I would advice you to take a pause and forget about books for a while, and start looking for videos here in youtube about the topics you're struggling with. For example, videos with the graphical explanation of derivative, integrals, Laplace transform, etc, makes it a lot easier.
I'm taking a math for econ course in college right now. Which is linear algebra and multivariable calculus. What seems to be the most surprising to me is how I deal with the different problems. Even though I studied some principles of linear algebra back in high school and have done a ton of algebra both in high school and in college, still, I SUCKED at the linear algebra aspect of the course. The multivariable calculus stuff is surprisingly intuitive to me. Taking Calculus back in high school and again in college definitely helped. But even in those courses, I did amazing (both A's). So it's weird to me how different people have different challenges in math. Something that most people find pretty manageable, I find confusing. While something that most people struggle with, I find it interesting and intuitive.
Thank you Professor, for this video! I struggled through math throughout school because I saw it as meaningless computation. But since gaining an interest in development microeconomics, I've been self-studying math and find it snapping into place for me. Like the cross-training enthusiasts, I'm a historian by undergraduate training, but now learning quantitative research skills for economics in my Master's, and eventually hope to do an interdisciplinary PhD that's about including historical/cultural sensitivity with the design of poverty alleviation programs.
Great example of these principles! Development and history are great cases where understanding some math is helpful but going deep isn't necessary for getting the ideas.
@@MarketPowerYT But how true is it that Real Analysis is supposed to be a gatekeeping requirement that doctoral admissions committees at elite universities in the US look for, even for less quantitative fields like development and history? Asking as an international student
@@TTPotterUltraPower Most of my colleagues agree that top PhD programs put too much emphasis on math preparation. Even my colleagues at top schools agree. But they all agree that the most important skill is developing research ideas. If your statement of purpose shows you can formulate a research question and propose how to investigate it, you'll get a big boost.
Is Macroeconomics in particular more about slow economic growth rate models akin to biology? If I recall, most economic models taught macroeconomics at the graduate level all seem to be about economic growth but at a slower pace that is not exponential aside from population growth, but even that staves off after reaching a steady state in the Solow model. Anyway, take the Cobb Douglas functions, or the multitude of other growth models that has fractional exponents as their growth rates, which is also slowed down by subtracting a percentage of say Labor or Capital by its own amount and then dividing it by some discount factor.
I graduated from the university from the "middle". I can definitely say their mathematical requirements prepared me for prestigious masters programs (e.g. Duke, LSE). I think pointing out the USU/BYU/UofU differences reveals a little elitism. Otherwise, good video.
Can anyone give me advice Am from England and i do foundation maths predicted a 4/5 in my exam but college wants a grade 6 but i need to learn all the context in higher maths I really want to do economic but i need math It's not like am failing maths is just i did not have a good foundation in maths if i did i would have done higher So should i pick another course🥲🥲🥲🥲
Idk. This feels like a clickbait topic. There is no way to avoid math in economics. That is it's curse and it's blessing. You can't have a theory based on your perception of the cosmic energies and star constellations. If you can't test it or prove it then it's worthless.
In general, I agree. But just last week I was in a meeting where a professor said that some universities owe it to their students to offer an economics degree without too much math.
I was literally just talking with my brother about math. I felt like once I got up to learning calculus everything before during grade school suddenly snapped into place as preparatory and foundational all so I would be ready for calc. So yes, keeping up with math is worth it so you can get to the cool/applicable stuff later!
I started doing MIT 18.01 Single variable calculus and 18.06 Linear Algebra and statistics from edX by London School of Economics.
I was doing all these courses for Economics but now all I do is math all day, I am just loving it.
are these free?
I am 1000% a Max!!! At 27 I’ve decided to reenroll and finish my degree. I’ve always struggled with math, but I have so much passion for economics. I understand the importance of math as it pertains to quantitative analysis and econometrics, and I have begun to change my attitude about it because it is so critical to the discipline. I just passed micro and macro this summer with 97% and 93% because it was all material I’ve already known, but it is a little intimidating moving forward. It feels like economics is too much math, but little history, and history is where you learn more of how it impacts us (my opinion), but I must say I really appreciate this video. Very great advice here!!
If you go into Economics you can't avoid math ; you just have to love it and apply it
Math is cool but algebra for me is boring but geometry is freaking cool
Thank you so much! You're very helpful. I'm starting my 1st semester of BA Economics!
“If I couldn’t formulate a problem in economic theory mathematically, I
didn’t know what I was doing. I came to the position that mathematical
analysis is not one of many ways of doing economic theory: It is the only
way. Economic theory is mathematical analysis. Everything else is just
pictures and talk.”
Robert Lucas Jr.
For sure, but the key qualifier is "economic theory." I can learn the principles of engineering and have a decent understanding of my world without understanding differential equations. Most people aren't going for that level of analysis in engineering or in economics. Sometimes pictures and talk are what we need.
Thanks. It's so constructive.
Change to Political Science or Sociology. Don't study Economics if you hate math. I'm studying Economics as a second career after I got my degree in Linguistics, and learning Math was a bit intimidating for me, but then I realized every mathematical concept has a visual/graphic representation which makes it a lot easier to understand in the format of videos here in TH-cam. So, if you're having troubles learning math, I would advice you to take a pause and forget about books for a while, and start looking for videos here in youtube about the topics you're struggling with. For example, videos with the graphical explanation of derivative, integrals, Laplace transform, etc, makes it a lot easier.
I'm taking a math for econ course in college right now. Which is linear algebra and multivariable calculus. What seems to be the most surprising to me is how I deal with the different problems. Even though I studied some principles of linear algebra back in high school and have done a ton of algebra both in high school and in college, still, I SUCKED at the linear algebra aspect of the course. The multivariable calculus stuff is surprisingly intuitive to me. Taking Calculus back in high school and again in college definitely helped. But even in those courses, I did amazing (both A's). So it's weird to me how different people have different challenges in math. Something that most people find pretty manageable, I find confusing. While something that most people struggle with, I find it interesting and intuitive.
Thank you Professor, for this video! I struggled through math throughout school because I saw it as meaningless computation. But since gaining an interest in development microeconomics, I've been self-studying math and find it snapping into place for me. Like the cross-training enthusiasts, I'm a historian by undergraduate training, but now learning quantitative research skills for economics in my Master's, and eventually hope to do an interdisciplinary PhD that's about including historical/cultural sensitivity with the design of poverty alleviation programs.
Great example of these principles! Development and history are great cases where understanding some math is helpful but going deep isn't necessary for getting the ideas.
@@MarketPowerYT But how true is it that Real Analysis is supposed to be a gatekeeping requirement that doctoral admissions committees at elite universities in the US look for, even for less quantitative fields like development and history? Asking as an international student
@@TTPotterUltraPower Most of my colleagues agree that top PhD programs put too much emphasis on math preparation. Even my colleagues at top schools agree. But they all agree that the most important skill is developing research ideas. If your statement of purpose shows you can formulate a research question and propose how to investigate it, you'll get a big boost.
@@MarketPowerYT Got it. Thank you for taking the time to respond to me!
Is Macroeconomics in particular more about slow economic growth rate models akin to biology? If I recall, most economic models taught macroeconomics at the graduate level all seem to be about economic growth but at a slower pace that is not exponential aside from population growth, but even that staves off after reaching a steady state in the Solow model.
Anyway, take the Cobb Douglas functions, or the multitude of other growth models that has fractional exponents as their growth rates, which is also slowed down by subtracting a percentage of say Labor or Capital by its own amount and then dividing it by some discount factor.
Great video 👍.
Please what about studying Agricultural Economics
Good video
I graduated from the university from the "middle". I can definitely say their mathematical requirements prepared me for prestigious masters programs (e.g. Duke, LSE). I think pointing out the USU/BYU/UofU differences reveals a little elitism. Otherwise, good video.
What are your thoughts on the intersection of Machine Learning/AI and Econometrics?
Can I do masters in economics after bcom?
Can anyone give me advice
Am from England and i do foundation maths predicted a 4/5 in my exam but college wants a grade 6 but i need to learn all the context in higher maths
I really want to do economic but i need math
It's not like am failing maths is just i did not have a good foundation in maths if i did i would have done higher
So should i pick another course🥲🥲🥲🥲
Your brazilian-portuguese is not bad.
Obrigado! Estou praticando.
@@MarketPowerYT Excelente! Conhece as universidades de economia do Brasil?
Idk. This feels like a clickbait topic. There is no way to avoid math in economics. That is it's curse and it's blessing. You can't have a theory based on your perception of the cosmic energies and star constellations. If you can't test it or prove it then it's worthless.
In general, I agree. But just last week I was in a meeting where a professor said that some universities owe it to their students to offer an economics degree without too much math.
You should've use "Marx" instead of "Max" xD
#IYKWIM