Standard or Mathematics path for commerce?

[treefruit]

THANKS IN ADVANCE TO ANYONE WHO HELPS ME. i am v clueless
I am intending on majoring in economics and something else (probably finance). I have no idea which path to choose LOL

What are the advantages of taking the mathematics path?
What are the advantages of taking the standard path?

(aka. calculus 2, linear algebra, probability for statistics and statistics
vs. Quantitative methods 1, QM2, & Intro to Econometrics?)

Do econ majors usually take the mathematics path?

Personally I don't LOVE maths. But I'm okay with it. Kind of like that meh feeling of washing the dishes.
I guess my main concern is if it will help me further on?

[notveryasian]

Hi, I just completed my 1st year Bcom following the mathematics pathway so hopefully I can help you out a bit.

I think the general consensus is that the mathematics pathway gives you a better grounding in mathematics itself(hence why  the Commerce Student Centre suggests that you do it if you enjoy mathematics), whilst the standard pathway has more of an emphasis on statistics.

A thing that all new students entering the Bcom should be aware of is that the 4 subjects in the mathematics pathway are subjects offered by the Science Faculty, so they will be taken as breadth. This really limits your breadth options, so take careful consideration before choosing which pathway you want to do, especially if you want to learn a language or want to follow a specific breadth sequence.

As a side note, a lot of people who haven't taken Specialist Maths at VCE generally do the standard path as they would end up taking 5 breadth subjects through the mathematics path, cutting off all their level 1 breadth options due to taking all three of Calc 1, Calc 2 and Lin Alg.

I haven't done any subjects in the standard pathway so I can't really say how they're like but in the mathematics pathway Calculus 2 is seen a follow on from Specialist Maths and Linear Algebra is an introduction to abstract ideas/pure mathematics(lots of matrices!)

[treefruit]

Thanks notveryasian! That was very helpful! I tried to upvote you, but I think i'm too noob to this forum to.

[Amity]

Hey there,
Just to add to the above –

I think one important thing that is worth noting is that if you intend to pursue graduate studies in economics (particularly if you look to apply to prestigious universities overseas) then you want to have studied as much maths as you can. I’ve heard also that taking real analysis is important for this, which you would have the prereqs for with calc2/linalg (or alternatively take accelerated maths 1/2 if you can). This is just what I’ve heard second hand though so don’t quote me on it.

Most people (other than actuarial) tend to go through the standard pathway so you probably wouldn’t be doing it with too many of your commerce friends, but you can make new ones! I’m not sure how many economics students go through the maths pathway, but I don’t think it would be a majority.

Most students seem to dread their qm subjects, whereas in my experience people tend to enjoy the maths department subjects a bit more, but this is probably a bit due to selection biases, so take that with a grain of salt. I think that the maths pathway is also a bit harder but I would argue it’s more rewarding too.

You can (and I think you might have to) still take a third year econometrics subject coming through the maths pathway, so I doubt that it would disadvantage you unless you find it too difficult and can’t keep up. If you’re okay with maths then there’s nothing to lose!

[notveryasian]

Thanks notveryasian! That was very helpful! I tried to upvote you, but I think i'm too noob to this forum to.

No problem! I just wish there was someone who did the standard pathway to give you a overview of it, since I don't have much experience at all with it. Also, you can upvote people by clicking on the plus sign in the top right corner of their messages

[treefruit]

I think one important thing that is worth noting is that if you intend to pursue graduate studies in economics (particularly if you look to apply to prestigious universities overseas) then you want to have studied as much maths as you can. I’ve heard also that taking real analysis is important for this, which you would have the prereqs for with calc2/linalg (or alternatively take accelerated maths 1/2 if you can). This is just what I’ve heard second hand though so don’t quote me on it.

Most people (other than actuarial) tend to go through the standard pathway so you probably wouldn’t be doing it with too many of your commerce friends, but you can make new ones! I’m not sure how many economics students go through the maths pathway, but I don’t think it would be a majority.

Most students seem to dread their qm subjects, whereas in my experience people tend to enjoy the maths department subjects a bit more, but this is probably a bit due to selection biases, so take that with a grain of salt. I think that the maths pathway is also a bit harder but I would argue it’s more rewarding too.

You can (and I think you might have to) still take a third year econometrics subject coming through the maths pathway, so I doubt that it would disadvantage you unless you find it too difficult and can’t keep up. If you’re okay with maths then there’s nothing to lose!

Thanks Amity! That's the exact answer I hoped for

The idea was to do well enough to get a job without post-grad though.
So basically, taking the maths path can only help, not hinder, my chances at getting a job. And that the downside is that the material it more difficult so it is harder to maintain a high GPA?

Do you know if the maths subjects I listed provide a better foundation to 2nd and 3rd yr subjects? (e.g. business finance/ micro/ ecom etc.)
Or is the commerce version better because it is more specifically tailored for the degree?

Haha yeah I meant like if I didn't take the maths path I'd have to take Intro to Econometrics to take Econometrics 3rd yr.

[notveryasian]

As far as I know employers don't often look at individual subjects(unless the subject gives you specific industry/community experience) so choosing a pathway won't affect employment opportunities.

Given the subjects in the standard pathway are offered by the Commerce Faculty you would think that they prepare you better for 3rd year Econ. I remember my tutor for Intro Micro said that he was at a bit of a disadvantage when he got to 3rd year Econometrics because he did Probs for Stats/Stats whilst other students had already done Intro Econometrics.

And btw I think maybe it isn't allowing you to upvote/downvote as you don't have many forum posts to your account but idk lol

[treefruit]

As far as I know employers don't often look at individual subjects(unless the subject gives you specific industry/community experience) so choosing a pathway won't affect employment opportunities.

Given the subjects in the standard pathway are offered by the Commerce Faculty you would think that they prepare you better for 3rd year Econ. I remember my tutor for Intro Micro said that he was at a bit of a disadvantage when he got to 3rd year Econometrics because he did Probs for Stats/Stats whilst other students had already done Intro Econometrics.

And btw I think maybe it isn't allowing you to upvote/downvote as you don't have many forum posts to your account but idk lol

Thanks notveryasian!! I think I'll most likely just take the Standard path then haha