Economists

[kfyh2]

Hi, I just randomly read that many actuarial sci ppl are headed to the US (Wharton, u mich, etc).

Just curious, where are they sending the economists to these days? The US / UK?

I'm in the jpa 1999 batch (go Sunway!) and the few of us doing the "etc" courses :lol: (ie: econs, actuarial sci, law, architecture) are in the UK.

[windy_city]

I am not sure about that, but as far as I know, the best econ school should be in US. There are 3 Malaysian doing econ in University of Chicago. I am not promoting the school, but I think it is the better school to do econ compares to Wharton, Wharton was yesterday story anyway, and it is not the best place to do econ also(it dun even offers economics). They are no more the best business school in the US or in the world also. (But it is still ONE OF THE BEST schools for business) (according to most financial or business related publications).

University of Chicago is the best place to do econ in US I think; it has the most Nobel laureates. Some of the Nobel laureates even teach in freshman classes. Just meet one of them when I ate in the dining hall today. My Econ Prof once said, the top 5 econ schools in the world is in US. I think what he said is true, because most of the famous economists come from US university and Nobel prizes in Econ for the past decade are won mostly by US economists. Anyway, if you want to know more about business, econ school and want to get a view from non US publication, I suggest you get the info from UK Financial Times ( http://news.ft.com/home/uk/ or http://specials.ft.com/spdocs/FT3Y4RCD2BD.pdf) magazine or the Economist Intelligence Unit (http://www.eiu.com/). These 2 publications will offer you view from non-US perspective. Anyway, they still acknowledge that US has the best economics and business school.
(Btw, I am not university of Chicago student, just spending my holiday here, so i have no intention to bias towards U Of Chicago)

[__earth]

Maybe because American's ways of handling the economy is better than European's style.

Europe has high unemployment with bad policies, conservative. in fact, minimun wage is still being practiced largely in germany. That should mean something.

in some of my economics class, we make fun of the European economic policies, implicitly. :twisted:

but of course, Bush gets worse treatment.

and about Umich, its the second best B school after harvard. go blue! :D

[masterof_none]

I found that ( to my amazement) a lot of people doing actuarial science despite the fact of the claims that there are very few actuarists in Malaysia. I think there's a desperate need for the govt/businesses in Malaysia to have actuarist nowadays. (despite the claims that the real actuarists are actually very few.)


I know some students who are at Wharton doing Actuarial Science and read in the forum that some new students are gonna further their
education in actuarial sc. in Umich. (this may qualify __earth statement ;-) )

And I think there's a tendency for the government to send students to American colleges these days, instead of to the European colleges like they previously did.

The reason, for me, remains unclear. However, I think, government try to make students (or rather, get the best education) from the preacher of the free-market itself, namely the US.


But I don't know why they don't try to send them to Univ. of Chicago. I heard that UCihc is one of the best in the US.

Maybe in the future. (I would go to UChic. myself if they pay my education! ;-) )

[chenghau]

I think the government is trying hard to send as many students as possible to top schools in US, ie U of Chicago. The problem is not with the government. Indeed, our admissions coordinator in UiTM did encourage us to apply to all the best schools. The reason why there are not many Malaysians students at U Chicago is that U Chicago does not accept that many Malaysians. And not all Malaysians got accepted went there because they might prefer some other schools.

[topdog]

err...i just think that if you managed to get into the university of chicago for econ, you freaking GO to the university of chicago! it is widely regarded as the best for econ.

unless of course you also got into harvard, yale, penn, princeton, stanford etc, then you would have the enviable luxury of choosing which is the "best fit" for you.

and, it's not that the malaysian government doesn't want to send many students to chicago...it's a question of whether the university wants you. it's extremely difficult to get accepted.

[windy_city]

and about Umich, its the second best B school after harvard. go blue! :D

I would disagree about that, best B school after Harvard, U mich, according to what???
Sorry about that, but i dun think that is true at all.
go to this website to check out all the top businees school ranking by all the publication that have a business school ranking ( it is not by US news, it is by the top business publication like Forbes, Wall Street Journal, Business Week, etc.....)It is rank according to salary you earn ,promotion and stuffs, so it will give a better "real life" ranking than SAT score and CGPA like Us News did.(the website is http://specials.ft.com/spdocs/FT3Y4RCD2BD.pdf)

Anyway, i dun think it is that hard to get in U of Chiocago, just that not a lot of people (i mean Malaysian) apply here. Never try never know!!

[__earth]

yeah, it was #2 in 1996. :) i guess i based my claim on expired ranking.

Michigan right now is at #8

http://www.businessweek.com/bschools/rankings/ranking_history02.htm

[kfyh2]

hey, coolz, i'm amazed with the amount of replies.

UofChicago. indeed, it is a good economics school....Father of monetarism...
I would have thought that Wharton would be more a place to go if you want to do more 'financy' courses?

so jpa's sending the economists to US...
of course, one shouldn't really compare european vs US current economic policies when deciding on which school to go to....

US does have some rather stupid policies at times - eg blaming china's undervalued yuan for manufacturing unemployment
so does Europe - the good old stability and growth pact.

and correct me if i'm wrong, I believe US maintains a minimum wage...

[__earth]

and correct me if i'm wrong, I believe US maintains a minimum wage...

yup. but not at a point where the unemployment rate is affected.
when the unemployment natural rate's wage is above the floor, the minimun wage affect almost nothing.

in europe, the natural rate is below the unemployment rate and minimum wage affects things. in fact, this is the explanation why unemployment is high in europe.

[kfyh2]

One more question:

Any current JPA economists studying in the US / UK / about to graduate/ or recent JPA economics grads waiting for a job / already in a job? What are you guys doing? where are you guys?

Answers to this would be really helpful.

And Earth, as for addressing why the unemployment rate is higher in Europe, would you really consider the 'high', mkt-distorting, minimum wage to be the sole major factor?

also, if the mkt clearing wage for the US is higher than the imposed minimum wage, why is the US still maintaining one? i'm not sure, but are people generally paid higher than the minimum wage in the US? certainly does not look like US is having a nice full employment economy there...

[DecentMerson]

Hi, I just randomly read that many actuarial sci ppl are headed to the US (Wharton, u mich, etc).

Just curious, where are they sending the economists to these days? The US / UK?

I'm in the jpa 1999 batch (go Sunway!) and the few of us doing the "etc" courses :lol: (ie: econs, actuarial sci, law, architecture) are in the UK.

i know one girl, who did not follow the UiTM ADFP(American Degree Foundation Program) got into Wellesley... major in Economics

[windy_city]

wow Wellesley, it is one of the best gal college around. My friends here once said it is the best place to find sweet and beautiful gals, dun know whether it is true or not. Maybe the people in Massechusetts should check it out!!