M.S Finance vs M.A Economics.. which one will be better PhD in finance?

[Sung Kyo Ahn]

Hey guys! I signed up for this website to ask you guys for little help here...

 

That question on the topic has been bothered me for a very long time..

 

My final goal is attaining PhD in Finance, but I just cannot decide which one suits better for the career and me.

 

I always have had vast interest in finance for a long time and I do definietly want to further broaden my view in that subject.

 

 

 

To tell you about myself a bit, I majored in business administration and minored in Chinese in university.

 

So.. I do not have any knowledges in economics now.. but I do can take few more onlines classes if I get to choose that field.

 

Meanwhile, I put most of effort studying finance when I was back in university, enjoying the subject.

 

 

I understand this question may sound very silly for some of you guys..

 

but which one sounds better?

 

Personally, I do want to apply for M.S in finance, but a lot people say M.A economics sounds better for my further career..

 

So I'm really confused...

 

 

Can anyone give me a help here?

[Cheshire_Cat]

If Finance is anything like accounting then you need a strong economic background to do well in the Finance Ph.D program.  Basically, there are two "tracks" for research- looking at accounting from a behavioral side, or looking at it from an economic side.  I think finance is similar. Econ is basically the pre-knowledge you need to do well in whatever business research you decide to do.  So if you don't know it, you will have a lot harder of a time with everything. I'm planning on doing the behavioral track, and still have to take at least 2 econ classes.

[rchien]

In general a MS in Finance is more applied.  The MS in Finance will prepare you to work as a corporate business analyst, whereas a MA in Economics teaches the theory behind Finance.  

 

If that sounds confusing, it's because it is.  A good way to understand this better is by comparing the classes required by each program.  So check the links below.

 

MS Finance at the University of Illinois: https://business.illinois.edu/msf/program/

MA Economics at Duke:  http://econ.duke.edu/masters-programs/master-s-of-arts-in-economics/course-information

 

Also consider a MS in Economics, which is something of a middle ground between the two.

MS Economics at the University of Illinois: http://www.mspe.illinois.edu/Courses.shtml

 

Remember that Math is the most important consideration for Post-Graduate study.  You will need to have taken Multi-Variate Calculus, Linear Algebra, Probability Theory, and Basic Computer Programming to qualify for top programs.