Dumb: “Econ majors know personal finance”

May 24 No Comments latest by

I like hearing dumb things because then I mock them and the person who said them. Here’s the latest: “I’m an economics major! I don’t need to learn about money!”

Just because you’re an econ major doesn’t necessarily mean you know personal finance. That’s like saying if you’re a programmer, you’re expert at using Microsoft Word. Give me a break, please.

Economics is more theoretical and really valuable for some things–and econ majors understand the theory and usually pick up nuances of personal finance that other people don’t. But studying economics doesn’t directly translate to managing your money–just because you understand multicollinearity or Kaldor-Hicks efficiency doesn’t mean you understand how to buy a stock.

Who will I mock next? Send more dumb things my way: ramit@stanford.edu

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Posted May 24, 2005 under Miscellaneous

Stanford Daily writes a nice article about IWillTeachYouToBeRich

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