Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,143,328 members, 7,780,845 topics. Date: Friday, 29 March 2024 at 12:11 AM

Finance And Economics, Which Is Better? - Career (2) - Nairaland

Nairaland Forum / Nairaland / General / Career / Finance And Economics, Which Is Better? (24813 Views)

Business Administration Or Economics: Which Is Better In The Nigerian Job Market / M.sc In Finance And Economics / Maths Or Economics: Which Is Better For Nigerian Job Market? (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Re: Finance And Economics, Which Is Better? by olawalebabs(m): 10:13am On Nov 08, 2011
@taninola22 and yamakuza. Sorry pls, i get you now, is just one of those things.
Re: Finance And Economics, Which Is Better? by abioila(m): 9:25pm On Nov 08, 2011
@tanimola u attended lag?trust me,actually am after a 5/5.i wil open a thread by july 2015 that i just finished with a first.@all thanks once again.@violent and chambers,do any of you know me?i suspect one of you do.
Re: Finance And Economics, Which Is Better? by tanimola22: 11:17pm On Nov 10, 2011
abioila:

@tanimola u attended lag?[/b]trust m[b]e,actually am after a 5/5.i wil open a thread by july 2015 that i just finished with a first.@all thanks once again.@violent and chambers,do any of you know me?i suspect one of you do.

Always proud to say a very big YES!

In July 2015, don't just open a thread to say you finished with a first, there are many first around nowadays. Instead, open a thread to say you finished with a 5/5. My crew and I will doff our caps for you because we know it is not easy.

Another advice/challenge, one dude completed his CFA, not just level one O, while studying your course in Lag. I challenge you to not just finish with a 5/5, but also bag two professional qualifications before you leave Lag. It takes less than 3 years for a very smart person to complete an averagely difficult professional qualification.

We expect you to perform more than your seniors who did excellently well too.

Good luck with your studies.
Re: Finance And Economics, Which Is Better? by yamakuza: 11:27pm On Nov 10, 2011
^ hmmn. So ppl get 5/5 in Unilag?

Hmmmn.

No comments.

1 Like

Re: Finance And Economics, Which Is Better? by tanimola22: 3:39pm On Nov 11, 2011
yamakuza:

^ hmmn. So ppl get 5/5 in Unilag?

Hmmmn.

No comments.

To the best of my knowledge, no. But the OP will be the one to set the record of 5/5 CGPA and make history. That is the only way he can do what his seniors failed to do while his Lag. And I assure you OP, everyone will dobale for you.

OP, I am really challenging you. Make sure you come back here and tell us how you set a record at Lag, In fact, you do not need to come back here, we will read about you in the national newspapers.

Good luck.
Re: Finance And Economics, Which Is Better? by BCuZiMBlaCk(m): 1:59am On Nov 13, 2011
Never heard or seen anyone with a 5/5
Re: Finance And Economics, Which Is Better? by nitrogen(m): 9:57am On May 30, 2012
5/5 Sounds crazy. T'will be tough to get that.
Btw, all theses schools that gives out first class anyhow, like MAULAG(unilag), uniben, unilorin, and other federal unis, they do this maybe because they've been in existence for long or what? I can tell you that a 2.1 gotten from some state universities in nigeria is almost like a firstie in most federal universities. It is always hard to get a first class in these state unis because of the presence of saddist lecturers, the late emergence of these schools (early nineties) and some other reasons.
No offence meant.
Re: Finance And Economics, Which Is Better? by yamakuza: 10:30am On May 30, 2012
No, i dont think MAULAG dashes out first class anyhow. Try CU.

@T22: How do you like the new name? Are you indifferent?
Re: Finance And Economics, Which Is Better? by tanimola22: 1:15pm On May 30, 2012
nitrogen: 5/5 Sounds crazy. T'will be tough to get that.
Btw, all theses schools that gives out first class anyhow, like MAULAG(unilag), uniben, unilorin, and other federal unis, they do this maybe because they've been in existence for long or what? I can tell you that a 2.1 gotten from some state universities in nigeria is almost like a firstie in most federal universities. It is always hard to get a first class in these state unis because of the presence of saddist lecturers, the late emergence of these schools (early nineties) and some other reasons.
No offence meant.

You think they give first class anyhow? Have you cared to perform a sample survey on the volume and value of quality students that these schools admit? If you have done so and you significantly found out that the background and quality of students admitted by state universities and the above listed universities are the same, then I guess you have a very, very strong point. Otherwise, try to do the research and come up with your results. This will involve getting data of all students that attended both types of universities. We can then discuss how to analyze the data to preclude sample bias and estimate the most robust unbiased estimators. After that, we will publish the results in a Nigerian journal and I will agree that your name and your name alone be put on the paper so that you and you alone can take full credit.

Might I also let you know that many very high quality students get lower grades from these schools you listed. The school I went to, for example, the department of accounting there is known to produce too many people with high grades. However, I had one very smart dude guy like that who graduated with an oriyomi 2:2 from the same department that is known to graduate only high grade holders. There were many people like him in his class. The assumption people had and still have of some of these federal universities, especially the one in Lagos, is that students there don't study. There was a time, I think in the late 1990s/early 2000s, that once you entered unilag you would hear music blaring and students dancing in their hostels. That made many people to erroneously conclude that the school was and still remains only a mere jaiye jaiye school. I don't share that view because I know what many high flyers of that university are currently doing home and abroad. Of course, this clearly does not mean that others elsewhere are not doing fantastically great.

Finally, it is in naija that a GPA of 5/5 is a big deal. In my master's class a couple of periods back, it is not uncommon to see many students who had near 4/4 in their undergraduate and still maintained the same near 4/4 in a highly and crazily competitive international master's program. In my days as an undergraduate, I used to aim for a GPA of 5/5. Unfortunately my abilities could not get me there, but this doesn't mean that I would protest or raise an eyebrow whenever I hear of someone that made it elsewhere. A perfect GPA is not easy, and a first class from any government owned university requires a great deal of sedulousness and luck.

I guess it is too quick to remark that some people who worked really hard to make this particular class of degree did so in a relatively simple manner when compared to their peers elsewhere. I don't necessarily share that view. A first class student from any government owned naija university has his/her many flaws like every other human being, but sure knows a higher percentage of his onions.

T22

2 Likes

Re: Finance And Economics, Which Is Better? by tanimola22: 1:19pm On May 30, 2012
yamakuza: No, i dont think MAULAG dashes out first class anyhow. Try CU.

@T22: How do you like the new name? Are you indifferent?

Mhen, my credentials bear the old name. But, to be frank with you, many efizzy conscious students may start looking elsewhere.

That said, Abiola deserves anything positive that the government proposes.

T22.
Re: Finance And Economics, Which Is Better? by AjanleKoko: 1:23pm On May 30, 2012
nitrogen: 5/5 Sounds crazy. T'will be tough to get that.
Btw, all theses schools that gives out first class anyhow, like MAULAG(unilag), uniben, unilorin, and other federal unis, they do this maybe because they've been in existence for long or what? I can tell you that a 2.1 gotten from some state universities in nigeria is almost like a firstie in most federal universities. It is always hard to get a first class in these state unis because of the presence of saddist lecturers, the late emergence of these schools (early nineties) and some other reasons.
No offence meant.

Remember that the people who passed JAMB very well are the people who went to those schools.
People that scored 270 and above, matched with straight As in WAEC (abi na NECO una dey call am now) will likely not have much trouble dismantling any so-called sadist lecturer.

The guys who went to the state unis are mostly the 'wounded' candidates.

1 Like

Re: Finance And Economics, Which Is Better? by yemmyma: 3:48pm On May 30, 2012
AjanleKoko:

Remember that the people who passed JAMB very well are the people who went to those schools.
People that scored 270 and above, matched with straight As in WAEC (abi na NECO una dey call am now) will likely not have much trouble dismantling any so-called sadist lecturer.

The guys who went to the state unis are mostly the 'wounded' candidates.

Honestly, i am of the opinion that JAMB should not be the de facto exam to access universities' students standards. The exam is marred with great degree of malpractices. It does not mean that you won't do well after eventually getting admitted without been able to pass JAMB by ones ability. The effort the student puts in thereafter matters a lot.

I worked in Unilag for sometime in the past. Many of the students that i saw there cannot get 100/400 in the JAMB exam. When i was studying at Yaba College of Technology, many of my class mates who were not among the top 60% of my class passed JAMB and got admitted to University of Lagos. How did they do it? Yet when we see each other in town, the stories we keep hearing from our Unilag friends was how they were trying to maintain their first class and so on.

And again, remember that majority of the students admitted to Unilag also come from the so-called Diploma entry which cost over 250,000 as at 2006/7. Many of these students cannot pass the JAMB exam. Well, i actually know this because i was almost going to get admission to Unilag the same way.

My point is, the structure and curriculum of our education does not permit a joint national examination like JAMB. It is flawed on so many levels from bad secondary schools, uneven curriculum, bribery, geographical location etc.

Well, that does not also mean the good students of Unilag are not where they are. I have also met some of those.

4 Likes

Re: Finance And Economics, Which Is Better? by nitrogen(m): 5:03pm On May 30, 2012
I think performance is partly based on encouragement, a situation where a lecturer of a uni in a particular dept encourages hìs students to finish from the school and go out there to make the institution and country proud is the best, graduates from such schools are quite different from those whose lecturers would not want their students to be greater than them, also, the recent emergence of such unis is a big disadvantage, they wouldnt want to give out firsties frequently but occasionally in order to build the school's reputation and integrity.
That is my main.

Btw, i quite agree with yemmy_ma, cos the simple truth is this, most(not all) that had high marks in jamb and even those that do that presently probably bribed their way, they eventually get admitted into the best schools and who knows whether some of them even manipulated their ways to get a firstie because i know some that did just that.
Another thought is maybe the curricula of these federal unis are quite narrow.
Please, prove me wrong, all these are just thoughts.

P.S. This doesnt erase the fact that there are good and even the best in these federal universities, of course these schools attract them.
Re: Finance And Economics, Which Is Better? by AjanleKoko: 5:13pm On May 30, 2012
yemmy_ma:

Honestly, i am of the opinion that JAMB should not be the de facto exam to access universities' students standards. The exam is marred with great degree of malpractices. It does not mean that you won't do well after eventually getting admitted without been able to pass JAMB by ones ability. The effort the student puts in thereafter matters a lot.

I worked in Unilag for sometime in the past. Many of the students that i saw there cannot get 100/400 in the JAMB exam. When i was studying at Yaba College of Technology, many of my class mates who were not among the top 60% of my class passed JAMB and got admitted to University of Lagos. How did they do it? Yet when we see each other in town, the stories we keep hearing from our Unilag friends was how they were trying to maintain their first class and so on.

And again, remember that majority of the students admitted to Unilag also come from the so-called Diploma entry which cost over 250,000 as at 2006/7. Many of these students cannot pass the JAMB exam. Well, i actually know this because i was almost going to get admission to Unilag the same way.

My point is, the structure and curriculum of our education does not permit a joint national examination like JAMB. It is flawed on so many levels from bad secondary schools, uneven curriculum, bribery, geographical location etc.

Well, that does not also mean the good students of Unilag are not where they are. I have also met some of those.

You forgot to mention also, that the first class students of UNILAG are not in any of those categories that you're mentioning.
I know a few Unilag first class students. All of them were first choice picks in UME, and none of them scored below 250. None of them did the diploma.
Remember we are talking about the top 1-5% of the average class. Those people were smart enough to get into Unilag on merit, why would you be surprised at them making first class degrees?

One of the chaps I know is even an SSCE national award winner. In fact, this chap went on to do masters/Phd at Stanford, and works in one of the Big Oilcos (the one on the US West coast). You think that kind of guy is one of the 100/400 material?

Mind you, I didn't do my undergrad in Unilag oh, so I am not under any compulsions to defend them. In my opinion, there are smarter people at OAU. But let's say what it really is. You can't find those top-notch students in state universities.

1 Like

Re: Finance And Economics, Which Is Better? by nitrogen(m): 5:45pm On May 30, 2012
AjanleKoko:

Remember that the people who passed JAMB very well are the people who went to those schools.
People that scored 270 and above, matched with straight As in WAEC (abi na NECO una dey call am now) will likely not have much trouble dismantling any so-called sadist lecturer.

The guys who went to the state unis are mostly the 'wounded' candidates.
AjanleKoko:

You forgot to mention also, that the first class students of UNILAG are not in any of those categories that you're mentioning.
I know a few Unilag first class students. All of them were first choice picks in UME, and none of them scored below 250. None of them did the diploma.
Remember we are talking about the top 1-5% of the average class. Those people were smart enough to get into Unilag on merit, why would you be surprised at them making first class degrees?

One of the chaps I know is even an SSCE national award winner. In fact, this chap went on to do masters/Phd at Stanford, and works in one of the Big Oilcos (the one on the US West coast). You think that kind of guy is one of the 100/400 material?

Mind you, I didn't do my undergrad in Unilag oh, so I am not under any compulsions to defend them. In my opinion, there are smarter people at OAU. But let's say what it really is. You can't find those top-notch students in state universities.

With these, i think you are wrong sir.

1 Like

Re: Finance And Economics, Which Is Better? by AjanleKoko: 5:50pm On May 30, 2012
nitrogen:

With these, i think you are wrong sir.

It's good that you say so, my bro. But I'm sure I'm not wrong.
Not that anybody who went to a state university should feel bad, mind you. All na school, it's what you do with it at the end that matters. Also, I never said that all federal uni graduates or students are smarter than state uni graduates. That would be getting it very twisted.

But let's tell ourselves the truth, how many WAEC and UME award winners do you know that went to a state uni? I mean, the people who get 9 A1s in WAEC, and score above 270 in UME. How many of them do you know, that make a state uni their first choice in UME? These are the same people that usually graduate with first class oh.

1 Like

Re: Finance And Economics, Which Is Better? by yemmyma: 5:54pm On May 30, 2012
AjanleKoko:

You forgot to mention also, that the first class students of UNILAG are not in any of those categories that you're mentioning.
I know a few Unilag first class students. All of them were first choice picks in UME, and none of them scored below 250. None of them did the diploma.
Remember we are talking about the top 1-5% of the average class. Those people were smart enough to get into Unilag on merit, why would you be surprised at them making first class degrees?

One of the chaps I know is even an SSCE national award winner. In fact, this chap went on to do masters/Phd at Stanford, and works in one of the Big Oilcos (the one on the US West coast). You think that kind of guy is one of the 100/400 material?

Mind you, I didn't do my undergrad in Unilag oh, so I am not under any compulsions to defend them. In my opinion, there are smarter people at OAU. But let's say what it really is. You can't find those top-notch students in state universities.

While i believe we have to establish the real bone of contention here, i would not want to come across as a unilag detractor.

See, my belief is that there are good students in every institution in Nigeria. I remember how students study in Yaba College of Technology when i was a student there. It is easy to say that the students there were not Unilag worthy. Maybe because they did not pass JAMB?

I use this guy as an example: http://www.bellanaija.com/2012/02/22/after-three-attempts-at-jamb-exams-iziren-akhigbe-sets-new-record-with-his-4-98-cgpa-meet-university-of-lagos-2012-overall-best-graduating-student/

He did JAMB three times and could not get admission into Unilag. He did his National Diploma at YabaTech finished with Upper Credit but did not make Unilag. He later continued with his HND also with Upper Credit and at the end of the day, his Upper credit from YabaTech got him direct entry into Unilag. And finally graduated with the best GPA 4.98 in Unilag. Of course, he is a mech eng.

There are good student scattered around Nigeria, some won't necessarily score high enough in JAMB to get into Unilag but that does not mean they should be considered others. I have been on the street of Lagos seeing very good students who just did not make the list into Unilag one way or the other.

I hate to say this, but in as much as i don't see myself studying in another state than Lagos, i will not always agree that there aren't brainees from other Nigerian institutions.

Just saying.

3 Likes

Re: Finance And Economics, Which Is Better? by AjanleKoko: 5:56pm On May 30, 2012
^^
But he eventually, went to Unilag, abi?

We are not (at least I am not) disputing that there are good students in every university.
But if you are a good student, good enough to pass any exam to enter any university, which one you go choose, Federal or State uni? Let's be honest here.
Re: Finance And Economics, Which Is Better? by nitrogen(m): 6:09pm On May 30, 2012
I believe that it is no big deal to choose a state uni over a federal uni, it all depends. A friend in 2005 had one of the best results in jamb and Neco, he chose to study in a state university rather than a fed uni, reasons for that was best known to him. He later graduated with a 4.56 cgpa(mechanical engineering), i know if it was in a fed university, it would have been a 4.95 cgpa. lipsrsealed lipsrsealed lipsrsealed

1 Like

Re: Finance And Economics, Which Is Better? by yemmyma: 6:10pm On May 30, 2012
AjanleKoko: ^^
But he eventually, went to Unilag, abi?

We are not (at least I am not) disputing that there are good students in every university.
But if you are a good student, good enough to pass any exam to enter any university, which one you go choose, Federal or State uni? Let's be honest here.

Well, i did not go to any but i would have chosen a Federal Uni of course and Unilag would be the place. There are many of my type there.

1 Like

Re: Finance And Economics, Which Is Better? by chamber2(m): 6:26pm On May 30, 2012
Interesting responses.

Sir Aj,

I have always maintained that one's choice of institution of study depends on many factors, not just JAMB or WAEC scores alone. Some people consider proximity to home, culture, language, finance, family, catchment etc when making university choices. on this note, you are likely to discover many brilliant folks who opted for state/less known unis not because they can't gain admission into schools like Unilag, OAU or the likes, but because of the reasons aforementioned. My uncle insisted his daughter must study in a state uni in the east just because his brother lives very close and would be able to ''monitor'' her. This girl is very very brilliant and is capable of gaining admission into any institution in Nigeria.

In my class for instance, i had many people who scored above 280 and yet, attended state unis. Most of them are children of teachers, lecturers in the uni etc. Most also made top grades in their o'levels. Unilag is most attractive to those whose parents etc live in lagos or those who grew up in lagos. Majority of ''us'' who grew up in the east don't give a damn about Unilag etc. This is because in the east this hype about universities as done in the west are almost non-existent.

I am not trying to disparage any graduate of any institution, they all worth their salt. It is my opinion that a 1st class of any institution will almost always stand his ground. I have been privileged to have interacted with a host of graduates from various institutions who made different classes of degrees-you will only notice minor variations in their intelligence. Yes, minor.

Also, and just as yemmy_ma pointed out previously, our curriculum and mode of exam conduct is not one that would make one conclude quickly that the student with a high score is a top performer. The mode of conducting entrance exams in Nigeria is very flawed i must repeat. So, until we have a standardised assessment method, only then can we adjudge products of such system ''best.''

2 Likes

Re: Finance And Economics, Which Is Better? by AjanleKoko: 9:36pm On May 30, 2012
chamber2: Interesting responses.

Sir Aj,

I have always maintained that one's choice of institution of study depends on many factors, not just JAMB or WAEC scores alone. Some people consider proximity to home, culture, language, finance, family, catchment etc when making university choices. on this note, you are likely to discover many brilliant folks who opted for state/less known unis not because they can't gain admission into schools like Unilag, OAU or the likes, but because of the reasons aforementioned. My uncle insisted his daughter must study in a state uni in the east just because his brother lives very close and would be able to ''monitor'' her. This girl is very very brilliant and is capable of gaining admission into any institution in Nigeria.

In my class for instance, i had many people who scored above 280 and yet, attended state unis. Most of them are children of teachers, lecturers in the uni etc. Most also made top grades in their o'levels. Unilag is most attractive to those whose parents etc live in lagos or those who grew up in lagos. Majority of ''us'' who grew up in the east don't give a damn about Unilag etc. This is because in the east this hype about universities as done in the west are almost non-existent.

I am not trying to disparage any graduate of any institution, they all worth their salt. It is my opinion that a 1st class of any institution will almost always stand his ground. I have been privileged to have interacted with a host of graduates from various institutions who made different classes of degrees-you will only notice minor variations in their intelligence. Yes, minor.

Also, and just as yemmy_ma pointed out previously, our curriculum and mode of exam conduct is not one that would make one conclude quickly that the student with a high score is a top performer. The mode of conducting entrance exams in Nigeria is very flawed i must repeat. So, until we have a standardised assessment method, only then can we adjudge products of such system ''best.''

My bro, as much as I applaud your very apt comments, I'd say let's not depart from the original argument.
Some fellow said Unilag people were producing first class anyhow, and he went on to make the assertion that a 2:1 from a state uni is equivalent to a first class in a school like Unilag.

I most definitely do not agree with that assetion.

I went on to state that, in Nigeria, the best product of our secondary schools, the top performers at that level, usually go to Federal universities. The reason isn't so far-fetched. The federal unis are more popular, are usually located in big cities and state capitals, have more courses and faculties, and by extension, more staff.

Therefore it's not out of place to reason that a brilliant secondary school student at the top of his class, capable of scoring very high marks in UME and WAEC, will most likely opt for a federal university. Of course you'd have exceptions. But we're not talking exceptions here, are we?

Something else we should look at is, the top federal universities are usually the schools that offer the prestige courses like medicine and engineering (specifically chemical or petroleum engineering). State universities are more likely to offer business-based courses like law, banking/accounting/economics etc.

So let's do a little bit of statistics. Out of three 'very brilliant' students, let's say one opts for medical sciences, one for engineering, and one for business/social sciences or law. It wouldn't be out of place to assume the following:

-Medical sciences prospect will opt for federal uni.
-Engineering prospect will opt for federal uni.
-Business courses prospect will opt for state uni (more like 50-50 here, but let's give the benefit of the doubt).

So, statistically, 2 of 3, of the smartest secondary school kids in Nigeria (67%) are likely to opt for federal unis, for reasons I stated above.
Remember we said earlier that these are brilliant students, who can easily ace JAMB and score 9 A1s in WAEC. So they will get in, and go on to do well. 2:1 or maybe even first class. Nothing is a given anyway.

The point of all my turenchi? There are more first class degrees from federal universities, statistically because more of the smartest kids tend to go there. Shikena. Of course the first class from the state uni can also compete. But he'll be outnumbered easily in the job market. That's why you see unilag 'ofoshes' prevalent in one company, and UI 'ofoshes' prevalent in another.

A 2:1 from a state university is at best equivalent to a 2:1 from a federal university. Not a first class. I don't think so.

1 Like

Re: Finance And Economics, Which Is Better? by tanimola22: 11:56pm On May 30, 2012
Everyone has contributed very well, no doubt. There are excellent graduates of state government universities, no gainsaying that fact. Abi it was @chamber2 that started a thread on one genius girl like that, a law graduate of one state government university. I think imsu or absu. She even came first at law school where there were graduates from anywhere and everywhere. I believe that there are many people like her at other state universities. However, in terms of significant proportions, I would like to hypothesize that there are more top students at federal government universities. To voice a previous poster, most competitive students opt for federal government schools. Apart from other advantages, the major advantage for this choice stems from the fact that federal government unis are almost free of charge. Why would a father pay 60k yearly for his son to attend a state school like anambra state university when he can send the son to nau awka or unn and pay much less? Anyway sha, there could be other hidden reasons which I am not privy to.

Meanwhile, it is very funny to assert that majority of the admitted students to unilag came in through the pricey diploma. This is the first time I am getting to hear about this. It doesn't sound real to me because diploma itself has standards. A student who does not meet these standards is normally not given the course he chose to study, even though he paid the diploma fees in full. In the worst of circumstances, the student is even refused a course if he performs woefully in all of his diploma courses. I know of diploma graduates constituting about 20%-30% of a given department, but this definitely does not sound like majority to me.

I agree with the fact that we need a standardized method of testing students. However, I fear that this method will also be bastardized with the same corruption that has eaten deep into our national fabric. Did you guys know that some people help others write the GRE, GMAT and TOEFL tests in niaja? This is a sad fact, but it is a fact. It used to be a former classmate's job and he earned a lot of money from the act until he decided to take the tests for himself and further his studies at Michigan. The guy wrote like two tests every weekend, at times even more, and he charged about 50K for TOEFL and between 60-80K for SAT/GRE/GMAT. This guy was living okay and even had a good car at that time when some of us never dreamed of owning our own cars besides those of our parents, brothers and sisters. Many of the people he wrote these tests for went ahead and attended very nice business schools. Some of them are doing oga in naija today. grin

Only God will save us.

T22
Re: Finance And Economics, Which Is Better? by tanimola22: 12:06am On May 31, 2012
AjanleKoko:

My bro, as much as I applaud your very apt comments, I'd say let's not depart from the original argument.
Some fellow said Unilag people were producing first class anyhow, and he went on to make the assertion that a 2:1 from a state uni is equivalent to a first class in a school like Unilag.

I most definitely do not agree with that assetion.

I went on to state that, in Nigeria, the best product of our secondary schools, the top performers at that level, usually go to Federal universities. The reason isn't so far-fetched. The federal unis are more popular, are usually located in big cities and state capitals, have more courses and faculties, and by extension, more staff.

Therefore it's not out of place to reason that a brilliant secondary school student at the top of his class, capable of scoring very high marks in UME and WAEC, will most likely opt for a federal university. Of course you'd have exceptions. But we're not talking exceptions here, are we?

Something else we should look at is, the top federal universities are usually the schools that offer the prestige courses like medicine and engineering (specifically chemical or petroleum engineering). State universities are more likely to offer business-based courses like law, banking/accounting/economics etc.

So let's do a little bit of statistics. Out of three 'very brilliant' students, let's say one opts for medical sciences, one for engineering, and one for business/social sciences or law. It wouldn't be out of place to assume the following:

-Medical sciences prospect will opt for federal uni.
-Engineering prospect will opt for federal uni.
-Business courses prospect will opt for state uni (more like 50-50 here, but let's give the benefit of the doubt).

So, statistically, 2 of 3, of the smartest secondary school kids in Nigeria (67%) are likely to opt for federal unis, for reasons I stated above.
Remember we said earlier that these are brilliant students, who can easily ace JAMB and score 9 A1s in WAEC. So they will get in, and go on to do well. 2:1 or maybe even first class. Nothing is a given anyway.

The point of all my turenchi? There are more first class degrees from federal universities, statistically because more of the smartest kids tend to go there. Shikena. Of course the first class from the state uni can also compete. But he'll be outnumbered easily in the job market. That's why you see unilag 'ofoshes' prevalent in one company, and UI 'ofoshes' prevalent in another.

A 2:1 from a state university is at best equivalent to a 2:1 from a federal university. Not a first class. I don't think so.

I was about drawing your attention to the proportion you estimated until I saw the 'but let's give the benefit of the doubt'. Had it been a 50-50 assertion, then the proportion would have soared 25% to 5 of 6 from 2 of 3. smiley

T22.
Re: Finance And Economics, Which Is Better? by AjanleKoko: 8:28am On May 31, 2012
tanimola22:

I was about drawing your attention to the proportion you estimated until I saw the 'but let's give the benefit of the doubt'. Had it been a 50-50 assertion, then the proportion would have soared 25% to 5 of 6 from 2 of 3. smiley

T22.


Ah. Yes o.
I just wanted to give a little advantage to the state-uni argument. wink If I wanted to be brutally frank, even the 50-50 is really more like 90-10.
Re: Finance And Economics, Which Is Better? by deenee: 10:20am On May 31, 2012
I think that Unilag is basking in the 'euphoria of a past glory that is lost' so also many Fed universities. No doubt, there are few pockets of students that will stand out in the crowd but a large majority are in my own opinion below average in all aspects. This might be an extremely skewed and biased view but let's stop and ponder on some thought provoking issues for a while. The level of education is no where at par with international standards though I know some will still argue along the lines of "Unilag,OAU,UI et al. are internationally recognized" etc. Exam malpractice is the order of the day where in some cases as I am told,it is similar to the popular 'who wants to be a millionaire TV game show' where people even have a "50/50 and phone a friend option". The list goes on and on and on.

To the poster, I am happy that you have decided to enroll at Unilag, I think that this is a good plan because you are thinking in the 'long term' which is what we the future generation need to imbibe instead of opting to take the 'path of least resistance'. Personally, I would do the same because Unilag is still a 'lesser evil' when the two necessary evils are compared (Unilag vs. LASU). I don't even know where to start with LASU!

However, the Unilag option has some perceived downsides. Have you considered the possibility of strike actions and its impact on your decision especially now that you have lost two years? If you say money is not an option and you are intelligent as cited, why not look at study abroad? In this regard, you are guaranteed to finish in three years whilst also taking your preferred course of study.(Personally, I think finance is overated!). You have also cited that you are considering the MBA route after your undergrad. This is also good but try and have some relevant work experience before you take this route. You can also consider some specialist certification whilst you at it.

On a personal note, I admire your decision to aim for a 'first' but remember that having a 'first' alone doesn't not equate to long term career success. It might help you get your foot into the industry of your choice and maybe ahead of your peers and then what? (Yet again, I would personally hire an undergrad with a 'mediocre grade who understands the dynamics my business over and above his contemporary with a first, who is just good at 'crunching numbers and looking at spread sheets') Please, try and network, make friends both 'good,bad and the ugly' because at some point you will need them!

Beyond the stars that we all aim for, there are billions of galaxies yet undiscovered! We tend to limit our potential by defining our ability within the confines of a strategy that is strait and holds a lot of assumptions constant. Strategy should evolve as we humans also evolve! I hope you will be able to read 'in between the lines' and understand the underlying content of my post. All the best.

P.S just for the record, I am also a finance professional, alumni of a Fed Uni in Nigeria, MBA schooled (Ivy league) and a CFA charter holder.

1 Like

Re: Finance And Economics, Which Is Better? by tanimola22: 10:31am On May 31, 2012
deenee: I think that Unilag is basking in the 'euphoria of a past glory that is lost' so also many Fed universities. No doubt, there are few pockets of students that will stand out in the crowd but a large majority are in my own opinion below average in all aspects. This might be an extremely skewed and biased view but let's stop and ponder on some thought provoking issues for a while. The level of education is no where at par with international standards though I know some will still argue along the lines of "Unilag,OAU UI etc are internationally recognized" etc etc. Exam malpractice is the order of the day where in some cases as I am told,it is similar to the popular 'who wants to be a millionaire TV game show' where people even have a "50/50 and phone a friend option". This list goes on and on and on.


To the poster, I am happy that you have decided to enroll at Unilag, I think that this is a good plan because you are thinking in 'long term' which is what we the future generation need to imbibe instead of opting to take the 'path of least resistance'. Personally, I would do the same because Unilag is still a 'lesser evil' when the two necessary evils are compared (Unilag vs. LASU). I don't even know where to start with LASU!

However, the Unilag option has some perceived downsides. Have you considered the possibility of strike actions and its impact of your decision especially now that you have lost two years? If you say money is not an option and you are intelligent as cited, why not look at study abroad, in this regard, you are guaranteed to finish in three years whilst also taking your preferred course of study.(Personally, I think finance is overated!). You have also cited that you are considering the MBA route after your undergrad. This is also good but try and have some relevant work experience before you take this route. You can also consider some specialist certification whilst you at it.

On a personal note, I admire your decision to aim for a 'first' but remember that having a 'first' alone doesn't not equate to long term career success. It might help you get your foot into the industry of your choice and maybe ahead of your peers and then what? Please, try and network, make friends both 'good,bad and the ugly' because at some point you will need
them!

Beyond the stars that we all aim for, there are billions of galaxies yet undiscovered! We tend to limit our potential by defining our ability within the confines of a strategy that is strait and holds a lot of assumptions constant. Strategy should evolve as we humans also evolve! I hope you will be able to read in between the lines and understand the underlying content of my post. All the best.

P.S just for the record, I am also a finance professional, alumni of a Fed Uni in Nigeria, MBA schooled (Ivy league) and a CFA charter holder.

Deenee, why do you think so?
Re: Finance And Economics, Which Is Better? by yemmyma: 11:06am On May 31, 2012
tanimola22: Everyone has contributed very well, no doubt. There are excellent graduates of state government universities, no gainsaying that fact. Abi it was @chamber2 that started a thread on one genius girl like that, a law graduate of one state government university. I think imsu or absu. She even came first at law school where there were graduates from anywhere and everywhere. I believe that there are many people like her at other state universities. However, in terms of significant proportions, I would like to hypothesize that there are more top students at federal government universities. To voice a previous poster, most competitive students opt for federal government schools. Apart from other advantages, the major advantage for this choice stems from the fact that federal government unis are almost free of charge. Why would a father pay 60k yearly for his son to attend a state school like anambra state university when he can send the son to nau awka or unn and pay much less? Anyway sha, there could be other hidden reasons which I am not privy to.

Meanwhile, it is very funny to assert that majority of the admitted students to unilag came in through the pricey diploma. This is the first time I am getting to hear about this. It doesn't sound real to me because diploma itself has standards. A student who does not meet these standards is normally not given the course he chose to study, even though he paid the diploma fees in full. In the worst of circumstances, the student is even refused a course if he performs woefully in all of his diploma courses. I know of diploma graduates constituting about 20%-30% of a given department, but this definitely does not sound like majority to me.

I agree with the fact that we need a standardized method of testing students. However, I fear that this method will also be bastardized with the same corruption that has eaten deep into our national fabric. Did you guys know that some people help others write the GRE, GMAT and TOEFL tests in niaja? This is a sad fact, but it is a fact. It used to be a former classmate's job and he earned a lot of money from the act until he decided to take the tests for himself and further his studies at Michigan. The guy wrote like two tests every weekend, at times even more, and he charged about 50K for TOEFL and between 60-80K for SAT/GRE/GMAT. This guy was living okay and even had a good car at that time when some of us never dreamed of owning our own cars besides those of our parents, brothers and sisters. Many of the people he wrote these tests for went ahead and attended very nice business schools. Some of them are doing oga in naija today. grin

Only God will save us.

T22

lol @ T22 on the bolded. I guess i bloated the meaning of majority.
Re: Finance And Economics, Which Is Better? by deenee: 11:51am On May 31, 2012
@ T22, One phrase-Elegant Simplicity!


I am not going to provide an answer using some complex charts or graphs. Neither will I try to back up my assertion with some seminal theories or financial models. Also there won't be any figures or historical data included herein. No far from it, what I will do is to direct your attention to the story pasted below. It is not an original piece of work hence credit should be accorded to the person who conceived the idea of the story in the first place. I am sure you must have come across it somewhere. I will then leave you alone to decipher the message herein whilst asking your self certain poignant questions. Happy reading!

The Mexican fisherman and the Investment Banker

An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellow fin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.

The Mexican replied, "only a little while."

The American then asked why didn't he stay out longer and catch more fish?

The Mexican said he had enough to support his family's immediate needs.

The American then asked, "but what do you do with the rest of your time?"

The Mexican fisherman said, "I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos, I have a full and busy life."

The American scoffed, "I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat with the proceeds from the bigger boat you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually NYC where you will run your expanding enterprise."

The Mexican fisherman asked, "But, how long will this all take?"

To which the American replied, "15-20 years."

"But what then?"

The American laughed and said that's the best part. "When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions."

"Millions.. Then what?"

The American said, "Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos."

The fisherman smiled at the businessman, quietly gathered his catch and walked away.

3 Likes

Re: Finance And Economics, Which Is Better? by Sammy107d(m): 1:41pm On May 31, 2012
I'm into Finance, albeit early in my career, and I frown at anything slightly downplaying the role of Finance. The anecdote you just provided actually made a stronger case for Finance, and Economics by extension. For the Mexican fisherman, what he lacks is greed. He knows, quite logically, that at the end of any entrepreneurial stint, he'll end up just where he is. The missing consideration, though, is the opportunity cost of his lack of greed-- an essential ingredient in the wealth of nations. Adam Smith's theory asserts that in the course of pursuing his self-interest and greed, we are all better off: more people will have access to better quality fish, more families will make livelihoods of his supply-chain, and governments both home and abroad will derive more revenue from him and provide better infrastructure, his children will be exposed to better education and healthcare, a drought won't throw his family into starvation, and his quality of life, along with many more people, will be better in the long-run, and for more generations. Of course, these assumptions are purely idealistic. The fisherman is only being simple-minded and myopic. Perhaps, if his father had expanded the family business, he'll have a Havard MBA.

2 Likes

Re: Finance And Economics, Which Is Better? by deenee: 3:06pm On May 31, 2012
@ sammy 107_d This is not an attempt to give Finance a bad name. I am a finance professional myself and I am in it for the long haul. This is just my own take on the matter and I have concluded herein that Finance just like Economics is overrated. This said, I have not in any way discouraged the poster from following his desired path.

I will, if you permit me, address some salient points that you have raised whilst making occasional reference to the story.

You have mentioned the word 'greed' which I quite agree with you but at what cost? It is this greed that will make an investment advisor collect all the entire 401k retirement plan of a family under the guise of investing for the long haul whilst also adding a caveat that the safety or return of the retirement money is not guaranteed. The same greed that will make the fisherman to abandon his family and friend to embark on a journey that will eventually lead to a position that he hitherto occupied in the first instance. Back home in Nigeria, it is this greed that propelled banks to embark on an aggressive expansion plan without any long term strategic intent in mind. Where as they built branches with reckless abandon, manipulated share prices and sold to the investing public, gave bogus valuations etc. I am sure you know the final outcome of the whole fiasco. Yet again greed at what cost?

You have also mentioned that the fisherman was 'simple- minded' but 'myopic'. Simple minded yes but myopic I quite disagree. You see the problem with a lot of people in the world of finance is that we tend to suffer from the mentality of "group think".Group think is a psychological phenomenon that occurs within groups of people that share a common denominator i.e studied the same course, attended the same university,etc . It is the mode of thinking that happens when the desire for harmony in a decision-making group overrides a realistic appraisal of alternatives. It is this mentality of group think that blinded most of the finance analysts to the presence of the 'invisible gorrilla' in the room pre 2006 subprime lending crisis in the US because they were too busy thinking alike, looking at excel spreadsheets and crunching numbers, hence precipitating a global credit crunch that the West and most parts of Europe is the trying to recover from. The same group think that has led to the bungling of the facebook IPO. A flotation that 'all things been equal' could have been a catalyst for the resuscitation of the capital market.

I think there is a slight contradiction with the "myopic aspect of your comment" or maybe I don't understand it quite well, hence I will await some further clarification from you. This said I want to opine that the fisherman had a long term perspective in mind hence his "then what" questions at the end of each paragraph and this is maybe what has informed his decision to remain where he is. Change is inevitable in our society but remember this "if it is not broken, don't try to fix It"!

On a light note, it is said that Warren Buffet, has amongst his team people from all walks of life anytime he wants to embark on his seminal money making deals. In fact there is a popular story which connotes that he picked innocent passers by randomly on the street and took them along for one of such deals, asked their opinions during the deal process and rumor has it that he made over a billion from the transaction alone. When asked why he adopts such unorthodox measures he simply replied 'elegant simplicity'.

Finally, if you really want to know how overrated finance is,ask a seven or eight old kid questions about the world of finance and you will be amazed at how the whole concept will be de mystified by them.

1 Like

Re: Finance And Economics, Which Is Better? by Sammy107d(m): 3:53pm On May 31, 2012
You make me sound like a teenage African-America defending rap smiley. I am currently studying towards a CFA, so I know not to argue technical matters with one. What I meant by 'myopic' is the fact that the fisherman substituted greed for selfishness, stoked by laziness and indifference. Where I studied (in the West), every tuition seemed to drag us closer to the utilitarian mindset: the greatest good for the greatest number, and greed/ambition/capitalism is the way to achieve that. At what cost? Well, I favour the question 'for what prize?' more. The series of failures in the financial system can be blamed on greed, but also the successes--benefits of which overwhelm the failures. Greed, in business, has a net positive value. The side-effects; recklessness, fraud, systemic failures are the costs we have to bear, but they are always temporary. Yes, group-think, an idea behavioural psychologists have smuggled into Finance.... Fortunately, the field has provided us with great tools to 'bet' against group-think (I would have shorted Facebook shares seconds after the IPO if I could). I'm of the opinion that superior analysis, superior enough, will always override any tendency to group-think. Explains Buffet's wealth. I am very likely to change my ideology after a few years in the field. We all do. I pray, though, that I'll always have that hint of greed, with enough testosterone and capital to take risks. I do agree that Finance (Investment) has been made more complex than it needs to be. It'll be interesting to ask the opinion of 10yr olds, and 80yr olds.

3 Likes

(1) (2) (3) (Reply)

Npower Recruitment 2016 Shortlisted Candidates List – Npower Shortlisted Candida / 20 Skills To Learn Instead Of Watching Tv. / My Salary Is Way Lower Than My Colleagues, I Am In Pains!! (please Advice)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 172
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.