Fields of Economics Tier List | Which is the BEST?

What are your thoughts on the intersection of Machine Learning/AI and Econometrics?

Good video, was surprised to agree with almost everything😎Was disappointed however that you didn’t open up marxism even a little on why its so bad. These are the questions emerging economics students want to know about!

When are you going to do videos about the Austrian school of economics. This school helped me become interested in economics.

I didn't see agricultural economics

Your dismissal of marxist economics without providing any logical argument is a beautiful microcosm of the arrogance of neoliberal economics.

You missed some like Game Theory and Monetary Economics.

Can you do a video on Transportation Economics?

Has anyone taken Econ Sociology here? has to be my favourite course of all time :)

The way how he dropped Marxian Economics speaks the volume of his arrogance.

Discarding Marxist economcis in 2020 LOL. The Liberal school of thought was a necessary step but its proved outdated so many times now. Marx considers Capitalism a necessary step in the way(even praises it in DAS KAPITAL) , but its time for humanity to move forward or risk becoming an anarcho capitalist nightmare like the US is devolving into.

Where is Law economics, Environmental Economics, Managerial Economics, Health Economics, Education Economics, Ethics and Economics, Sport Economics, International trade/finance?

Although I'm interested in business economics, I'd rate institutional economics (not mentioned), industrial organization, and macroeconomic theory as "S Tier". Although I'm left of center politically, I'll concede that Marxian economics is ideology rather than economics. Great video, though.

Who teaches marxist economics?

This is a little confusing to me. You have some on here that are more schools of economics (Marxist, Behavioral Economics, Political Economy) and others the rest that are branches. Since you have done both (I know it may be hard to distinguish in some cases but as the result there are a lot you are missing: Austrian, Keynesian, Neo-Keynesian, Monetary Theory, MMT, Public Choice Theory, Neo-Institutional Economics, Old Institutional Economics, History of Economic Ideas)

It was very interesting, just a little confusing that some of these were missing.

This video is F-tier for skimming alternative theories and being basically a 1950s McCarthyist propaganda shill.

I had a real belly laugh when you place finance in D tier.

New to the channel, was nodding along the entire time and enjoyed the ranking! But I got severely upset when you dunked on Marxist econ like that - uncalled for and wrong! - and then I subscribed begrudgingly

Disagree with list. IO and econometrics are the best.

This is trash

Fields of economics to take: ECON History, Political ECON, Metrics, Industrial organization, Micro, Macro, Finance, Marxist

i love economics💛💛

W

What is involved in health economics,monetary economics and environmental economics

this feels like a pro public economics list. D tier feels completely off

Which of these fields of economics would a PhD/Postdoc who is analyzing public health spending data for different states in the US, likely fall under? Curious

Your dismissal of Marxian is a disgrace. You don't understand whatever you're talking about and your B-tier rank for Econometrics is evidence of this.

What jobs can you get with political economy?

How difficult is it to pivot at a higher level in economics. I ask because I would be most interested in developmental and economic history. Would these potentially be complimentary? I just generally want to know how easy or difficult it would be to pivot or study both.

regarding your failing grades for Macro and Marxian:

on Macro, yes, this has been falsely "dichotomized" with micro, as one with an in depth understanding of Econ will see the ever present mirroring between national/global economic trends and events and those of firms/individuals. public education (k-12 and academia) presents information and knowledge in a very fragmented way, so most students will not possess the training necessary to truly think "macro" (holistically, systematically, relation-ally) . in my estimation the FUNDAMENTAL GLITCH in economic thinking to date IS this false dichotomizing between micro-macro. Macro is critical in these dangerously globalized, militarized, politicized, materialistic times.

on Marxian: before drawing conclusions, one might read Schumpeter's chapter on Marx before outright dismissing him. I have worked my share of shit jobs and Marxian alienation is a very real, a very disturbing experience. of course, Marxist theory had both its flaws in theory and disasters in reality, BUT Marx was a master philosopher/Sociologist/historian. his concept of Species Essence and alienation are critical (to those of us who have experienced shit jobs working for shit bosses. his concept of alienation applies to BOTH workers under monopoly corporate capitalism and state communism (the most dismal irony of the dismal science!) Veblen's emulation (working class prefers to emulate the rich, not fight them off) is a critical follow up, to understand Veblen is to see why class struggle failed (among many other reasons, such as the success of Capitalism to provide enough creature comforts to appease and placate the emulating poor.) But to read Marx is to learn to think historically, to analyze integration-ally, two critical abilities that are gravely lacking in many students.

Economics is complex because the human psyche, survival, and social life are complex. If one's goal is to achieve the full comprehensive functional understanding, one must study all fields of econ, as well as other fields (anthro, psych, sociology, philosophy) and synthesize them. If your goal is to get an A on a test or pass the time, then your study is just a chore. You are only useful to one, yourself.

The field of economics that one desire’s to study is based on both their reason for studying that field and their belief in its usefulness to that end. What is their reason for studying economics? Career advancement in some relevant related field? Existential inquiry? Sheer entertainment as one might read a romance or sci-fi novel? Intellectual curiosity? Impressing others at a dinner party with what you know? Improving conditions for humanity/ecosystem?

This brings me to a sad personal conclusion: while so many suffer and have suffered due to "faulty economic thinking and acting,” the field seems today to serve all these functions EXCEPT improving conditions for humanity/ecosystem. Academia and the world of publishing have become just another entertainment industry (or a servant of the actual one) in and of itself, a very lucrative one.

The fields that I choose first and foremost remedy THIS fact of the modern "use" of economics as a study and practice. Veblen's Theory of the Leisure Class addresses this dismal fact of the dismal science best. The conspicuous consumption of education. Conspicuous knowing.

im in behavioral economics and loving it, though im also a beginner right now ^^"

"totally unbiased when making my decisions here"

If I want to build my quantitative skills, aside from taking more advanced econometric courses, would I be able to further build them through taking industrial organization? I was just curious haha since you mentioned that it’s the “engineering” of economics

Great video, but seems like a somewhat narrow-minded approach to Marxist econ. I would argue Marxist economics isn't so much a field in its own right, but a lens in which all other fields of economics can be viewed.

You did not cover network theory advances in micro theory

Market design is now heavily used in crypto and will continue to grow.

Your tier list of economists ?

You are great 👍

The Austrian School of Economics should be on S

Lol putting marxian economics in F tier shows that you know nothing about the subject. You had no real reason for it. Maybe you've consumed to much anti-socialist propaganda?

He put Macro in D tier as if defining recursive competitive equilibria isn't exhilarating... It deserves B for Bellman equations.

I have the right to express this opinion about economics because I graduated business economics back in college yr. 2003. Now, GDP and per capita income have always been the measures of economic growth in a country but that is downright fallacious now because every single term of presidency didnt eradicate poverty and alleviate conditions of the poor with their egoistic pronouncements of GDP and per capita income increases in the years that passed by. This nation (Philippines) hasnt advanced economically ever since despite politicking machineries were used. Our universities in the Philippines have been outdated in their academic curricula in terms of econ theory. Development economics is the new measurement of eco growth that must be added up in our academic curriculum mostly in developing countries because these measure the true growth of a nation's econ condition. GDP and per capita income only pertains to middle class workers' and company's more profit sharing of the few. Development economics otherwise pertains to economic alleviation of increasing opportunities of developed work conditions, healthcare conditions, housing conditions, educational access, alleviating financial conditions, and decreasing utilities' prices for the poor and balancing out profits of the rich and big corporations to give their fair share of the distribution of wealth for the maginalized. Delving more into development economics research puts more theories of econ growth in real economic reality check!

What about marketing economics

The fact that you like economic history and despise marxism is beyond me. How do you want to understand economic history and also neglect a theory that literally shaped the 20th century? 

To all aspiring economists out there, letting your own biases shape your research/research questions is the wrong thing to do. If a professor or a senior student tells you to avoid a whole theory without proper justification saying "that's just garbage", I would advise you to take that with a pinch of salt.


My tier list would be: S - Labour, econometrics, development; A- History, industrial org., finance; B- Macro, Micro, Behavioural; C: Political, Marxism (but not because "it's garbage")

i really love this account and your content, best regards development econ student from germany :)
ps please never stop uploading videos! 🙂

Let me mention that there is a well reputed Economics Professor which name is Richard Woff and he is a Marxian economist.
I felt that as you addressed in other video that you are in the development and history economics you seems biased in my opinion.
👽♥️♥️♥️

Agricultural economics and environmental economics should be in the ranking; and I would also merge marxist economics with political economy haha

When you literary place every subfield of economics requiring mathematics in the down tier. Like, I don’t know about this classification. Cambridge students usually do a lot of microeconomics and macroeconomics through their education and based on your classification it seems as if they study something pointless at uni. I actually consider microeconomics and macroeconomics as the most important fields of economics because they construct the abstraction that defines economics as a science the rest of the fields (except econometrics) are descriptive, where micro and macro are analytical and in my opinion science is about analysis. The ones that you have placed on the top tier are going to be very helpful if you’re looking for a job to apply economics the down tier however are the subjects that you’ll use in your academic studies

Thank you so much for the videos. I am an upcoming economic graduate student and I find this video really helpful. Can you also make content about preparations and skills that graduate students should have as they want to continue their study/work at Phd level? Thanks in advance

How can you put political economy in A and Marxian economics in F ? Marx was one of the most influential political economists in 1800s !