🍦 Today's Scoops: Economics or Finance? (Oct 22)

Good morning folks! Here’s what we have today:

1. Info Zone Refresh

2. School of the Day: Tufts University

3. Major Matchup: Economics vs. Finance

INFO ZONE
New Upcoming Visits and Info Sessions

Duke Virtual Admissions Session - Wednesday, October 23, 2024 at 1:00 PM until 1:45 PM

(NEW) Caltech Virtual Coffee Chats - Thursday, October 23, 2024 at 4:00 PM until 4:45 PM

Columbia Engineering Student Q&A Chat - Friday, October 25, 2024 at 2:30 PM until 3:30 PM

(NEW) UChicago First Things First: Young Alumni - Monday, October 28th at 4:00 unti 5:00pm CDT

SCHOOL OF THE DAY
Tufts University

Every day, we cover a different school, helping you learn something new about your favorite schools or find a new school that could end up being your dream school.

📍 Location: Medford, MA
🎓 Student Body: 6,815 undergrads out of 13,431 total students
📊 Acceptance Rate: 10% (34,882 applicants)
📝 Average SAT/ACT: 1500/34
💸 Cost: $86,504 (list price), $30,479 (average net price)
📅 Admission Options: Early Decision (Nov 1), Early Decision II (Jan 6), Regular Decision (Jan 6)
🏆 Top Ranking Programs: Public Health (#6), Economics (#37), Engineering (#37) (Niche)
📈 Most Popular Majors: Social Sciences (23%), Engineering (11%), Computer Science (10%) (Scoir)

Some Positives

🌍 Global Focus and International Programs: Tufts prides itself on its global perspective, offering top-notch international relations programs through the Fletcher School of Law and Diplomacy. Many students participate in study abroad programs or internships worldwide. Learn about Tufts’ Global Opportunities.

🔬 Strong Research Opportunities: Tufts provides ample research opportunities in fields like biomedical engineering, international relations, and environmental science. Students often collaborate with faculty on groundbreaking projects, thanks to well-funded labs and institutes like the Center for Engineering Education and Outreach. Explore Tufts Research.

🎓 School of Engineering: Tufts’ School of Engineering offers a cutting-edge education with opportunities in robotics, data science, and sustainability. With small class sizes and personalized mentorship, students enjoy a hands-on, innovative learning environment. Discover Tufts Engineering.

🚴 Convenient Location Near Boston: Situated a few miles from downtown Boston, Tufts combines a suburban campus feel with easy access to the vibrant city for internships, jobs, and cultural activities. The Red Line subway is just a short ride away. Learn more about Tufts’ Location.

Some Negatives

💵 High Tuition Costs: Like many private universities, Tufts carries a high price tag, and while financial aid is available, some students may find the cost prohibitive. Explore Tufts Tuition.

🚇 Limited Public Transportation: While close to Boston, public transportation options can be limited compared to schools directly in the city. Commuting to internships or events downtown might require more planning. Check out Tufts Transportation Options.

📐 Competitive Academics: Tufts is academically rigorous, especially in competitive programs like engineering and pre-med. Some students may feel pressure to keep up with the challenging workload. Read about Tufts Academics.

MAJOR MATCHUP
Economics vs. Finance

If you’re interested in business and the markets, you might be considering applying as an Economics or Finance major in college. Here’s the differences and similarities between the two majors.

📈 Economics: The Big Picture Thinker

Economics is like the bird’s-eye view of a city, helping you see the broader trends in how resources are distributed and how people make choices. It’s about understanding why things happen in markets, governments, and society at large. With economics, you’ll dive into concepts like supply and demand, inflation, and global trade. Expect to explore the philosophical side of money, with a mix of theory, policy analysis, and quantitative methods.

Sample Courses: Microeconomics, Macroeconomics, Game Theory, Econometrics

Potential Careers: Economist, Policy Analyst, Researcher, Consultant

💼 Finance: The Action Taker

Finance, on the other hand, zooms in on the how. It’s more hands-on, teaching you how to manage, invest, and grow money in real-world settings. You’ll study corporate finance, investments, and personal financial planning, learning the tools you need to succeed in banking, investment management, or even starting your own business. Finance majors are more likely to be crunching numbers and analyzing market trends to help organizations and individuals make informed financial decisions.

Sample Courses: Corporate Finance, Investment Analysis, Risk Management, Financial Modeling

Potential Careers: Financial Analyst, Investment Banker, Portfolio Manager, CFO

🤔 Which One’s for You?

• If you’re into big-picture thinking and want to understand the “why” behind market behavior, Economics is your game.

• If you like the hands-on side of money management and enjoy applying your knowledge to real-world scenarios, Finance might be the better fit.

🏆 Competitiveness: Finance vs. Economics

Finance programs are typically housed in business schools, which are notoriously selective. Schools like Berkeley’s Haas School of Business are ranked #1 globally for finance research, attracting top students and making finance one of the more competitive majors . With an emphasis on quantitative skills like financial modeling and risk analysis, finance majors need a strong math background, which also raises the stakes during admissions.

Economics, while still rigorous, can be more accessible at some schools because it covers broader topics. It’s often housed in liberal arts or social science departments, which may have slightly more flexible admissions criteria. However, at schools like the University of Chicago or MIT, where economics is a powerhouse, admissions can be just as competitive as for finance majors due to the department’s academic reputation.

🏫 School-Specific Strengths

Economics and finance programs differ from school to school, so it’s important to research each program’s focus and opportunities. For example:

• Berkeley Haas is known for its top-tier finance research, with faculty producing cutting-edge work in corporate finance and financial markets .

• MIT Sloan offers groundbreaking work in financial economics and technological innovations, making it a strong choice for students interested in the intersection of finance and tech.

• Princeton and Yale are renowned for their research in economics theory, making them great for students looking to focus on policy or academic research.

Both fields offer strong career prospects, but the choice comes down to whether you’re more drawn to analyzing systems or making strategic decisions in those systems. Either way, you’re setting yourself up for a future where you’ll understand and influence the flow of money in society!

LINK LOUNGE
Yesterday’s Resources & Scholarships

On Mondays, Wednesdays, and Fridays we will be updating the Link Lounge section with links to great resources such as scholarships and tools during the college application process. You’ll find it at the top of your email on Mondays, Wednesdays, and Fridays and near the bottom during the rest of the week.

Niche Direct Admissions - get accepted to colleges just based off your GPA and/or SAT

Gohar Khan YouTube Channel - MIT grad’s advice on college admissions

Sprig by HackClub - Code a video game (in JavaScript) for a free console!

CaliforniaColleges.edu - California’s official college and career planning platform with lessons to prepare parents and students for life after high school

DAILY DEADLINE UPDATES
Important testing dates are coming up!

In the Daily Deadlines section, we will keep you updated on upcoming deadlines in the college admissions world. Remember to not procrastinate and stay ahead of these deadlines!

University of Texas Materials Deadline: October 23
Most ED, REA & EA Deadlines: November 1

THE ARCHIVE
Looking for past mailings?

You can view all our previous posts at our website at https://scholarscoops.beehiiv.com

IDEAS COME FROM EVERYWHERE
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