if you are wondering about physics and economics, in this post we will help you to choose the right branch.
Should I take physics or economics?
According to BLS the median salary of economists is $105,000 while physicists earn a little more, around $147,000. So both salaries are very encouraging to take these both majors but the popularity of physics and economics is not higher as other occupations such as mechanical or electrical engineering.
To keep you close to the numbers, there are only 2400 occupations offered in the economy industry while in physics only 1,600 jobs that people can apply for in the United States.
If you look at mechanical or electrical engineering you will find 20,000 jobs offered annually which is 10 to 20 times bigger than economics and physics.
So there are limited options and high competition if you want to enjoy both Majors in physics and economics.
Economics is more flexible than physics because it opens a lot of door to work in finance and business-related majors while physics is limited and require most people to continue their studies and at least get a master’s or Ph.D., especially the ones who are looking to work in academics like teaching in University governmental research centers like NASA or anything else.
But, physicists also still have the opportunity to work in private companies and also in economic-related Industries like banking, business management, or Finance. Even with their unrelated background in physics, employers prefer physicists and Engineers because they are small and fast learners.
The physics curriculum is way harder than economics, so dealing with economic topics is like a piece of cake for physicists.
But the main reason that you have to consider choosing between physics and economics is depending on your personality.
If you are interested in learning about science and how things work beginning from the atoms to the universe or like engineering then physics is better. is suited for you.
On the other hand, if you like to pump numbers in calculators or like to manage businesses and sales economics would be a better suit for you, It also allows you to create your own business in Consulting or private coach advisor.
Which is harder economics or physics
Economics’s way easier than physics. It doesn’t involve complex math topics like physics. In physics, the students have to complete advanced subjects like calculus and differential equations in addition to physics courses like thermodynamics, quantum mechanics, or physics relativity. All these subjects are so difficult, that physicist majors have to complete them.
The most difficult subjects for economics students have to complete are some introductory courses of calculus like business calculus or survey calculus and some statistics topics. The rest will be general business models about economics.
in physics students are required to complete all the calculus topics including:
You have to complete these courses during your first use as a physics major, these math topics are foundational to studying Advanced physics topics in this third and Senior you like:
So physics is a difficult subject and requires you to be very good at math while in economics you just have to be good or decent enough in math. You only need to have a high school math level or less to study economics in college.
But in reality, economics can be a little bit messy and irrational because it is not always the economics rules that are applied or give the correct results. Economics has a principal base for home prediction and analysis. For instance, economists predict the economic state of the market in the next 5 years. They could get a correct or false prediction if the market is going to grow or shrink.
Physics is totally different, when you launch a rocket or design an engine for the plane Physicists and Engineers have to make sure that all mathematics and physics equations are used properly and All the calculations they have made are correct.
If you miss one single variable a rocket on an engine plane won’t work properly. But everything is controllable if you respect the physics rules. Everything is going to be working not like uncontrollable outcomes in the economic industry that relate to politics, geography, natural disasters, and other factors.
Do you need physics for economics?
If you are thinking to major in economics you are not required to complete any Physics course. Physics is a related subject for economists especially when we talk about regular courses like bachelor’s or even master’s.
but if you want to go further in economics majoring in grad school physics can be useful in some economics applications, especially in the field of econophysics.
In the high level of economics, you would be using physics Especially the social physics theories that explain human nature and behavior. Because economists not only focus on money but only on humans and how we act in society.
if you reach or applied for grad schools and preparing for your Ph.D. in economics you’ll be discovering some physics theories used in economics like:
Are physics and economics a good combination?
Physics and economics are not a good combination. If you are planning to study or double major in physics and economics you are making a mistake that’s going to cost you time and effort. There is no overlap between economics and physics majors economists don’t study Physics unless in weird cases when economics students reach a Ph.D. School.
On the other hand, physicists are not required to study economics, because they are not meant to be businessmen, financials, or accountants, they are meant to study science and solve difficult engineering problems.
The best recommendation for students who are enthusiastic to study a double major is to combine physics with mathematics or economics with mathematics if you love economics. At least you will benefit from math which is required in physics and also economics.
a double major in economics and Mathematics could be a good opportunity to prepare poor economic math industry like banking finals on the stock market