Is economics a professional course?

wallace1:
Hello, fellow nairalanders,
Between Economics and Accounting,which one is better in terms of employment opportunities in Nigeria? Please lets share our views!!

In Nigeria?
NONE.

Because there's nothing like employment in Nigeria.

classyc:
And who says an accountant can not apply for other social science jobs. I'm also an accountant, infact a chartered accountant. Before my job as a finance and production accountant with a media company, I previously worked as a Regional Area Administrator with a FMCG firm, Logistics Manager with a shipping and Logistics company.
Trust me I've attended lot of interviews and switch jobs as well, in most openings, it would be categorically stated that an accountant with Bsc or HND in accounting is required to apply. Professional qualification is an added advantage. An economics, backed up with ACA/ACCA without considerable accounting experience still may not stand an accounting without ACCA, but little experience in getting that job.

Also, a professional qualification without a first degree may also deny you job opportunites

Area administrator
Logistics Manager

Any course will actually get you this. These are not course-specialized roles. In other words, if you had not studied Accounting, but Sociology or Economics or English, you would still have gotten these jobs.

They are not discipline specific. They have more to do with your personal skills and ability to convince the interviewer you can handle them.

As the eye is to the body, so as ACCOUNTANT to the economy; also as the ear is to the body, so as ECONOMIST to the economy.... Both are necessary, just like a system no one is more important than the other but need each other for better result

Economics is far better becos it encompasses both finance, accounting and also management. Most employees go for Economics graduate

let's not being bias in terms of what we study in school, to be frank Accountant has much opportunity of getting job my reasons are: accountant duty is not just to keep record but to manage, direct, advise on way forward. most job advert what u hear is vacancy a B.sc or HND in Accounting. if accounting is not in a better chance of getting employed why is it that Economist is struggling with ICAN ACA just to become Accountant?

A C C O U N T I N G is more relevant to all economies than Economics. Each company needs at least 1 ACCOUNTANT, not so for Economics.Some companies may require the service of 5 or more ACCOUNTANTS. Not too many clear Job role for an Economist. In cases where there are, only few companies needs such.Most companies don't even need the service of a single Economist!

An Economist can not do the work of an ACCOUNTANT except if he qualifies as a Chartered Accountant, and any profession can do that as well.

wallace1:
Hello, fellow nairalanders,
Between Economics and Accounting,which one is better in terms of employment opportunities in Nigeria? Please lets share our views!!

Accounting is versatile with a higher chance of job opportunity than economics because every organisation will always need an accountant, and while you are at it, think of getting certified as a professional which is an added advantage. You can visit my blog for more @ www.naijaaccountwiz.com

all these people saying economics, i wonder if you fall into any of the profession or you studied either of the courses, accounting cannot be compared to economics anyday, accountants can do the work of an economist because they can give economic indices, suggest ways to improve an economy with both accounting and economic principles because they were taught economics also but an economist can never be an accountant when they dont have the knowledge and they can never prepare financial statement unless those who have been trained or taught... Am an accountant so am talking with experience

Better be wise and go for accounting. Every corporate organization requires the services of an accountant especially if you are chartered.

Beenkay:


And you forgot an Economist can still play the role of an accountant.

Yes as a management accountant ,auditor but not financial accountant

SHOOPSYN:

What you don't know is, an economist can work in virtually all department of the 'any' organization. Morese, Accounting is a subset of Economics.

.

Accounting never subset of economics in practice. ordinarily,a lay man could think so.

emmybliz:
economics, because an economist can also be an accountant, but an accountant cannot be an economist

No economics can do the work of an accountant.

Before and economist will do the work of an accountant, he must have gone for training and exams eg ICAN, ACCA, etc and that mean he has become an Accountant, so he has chosen another field entirely.

An engineer, a doctor, etc can as well become an accountant if he does all relevant professional trainings and exams, so no difference between an economist and a doctor who later becomes an accountant

Note that an accountant too can become an economist if he chooses to do the programme.

emmybliz:
economics, because an economist can also be an accountant, but an accountant cannot be an economist

wrong conception, am an economist and also a chartered accountant they are way too different.

Both courses have their opportunities, just make up ur mind & go for one.
I read Economics and presently work with it as a planning officer in planning commission, I m also undertaking ICAN. Just embrace the one u feel u can excel with.

ibbryte:
was in the same dilemma when i applyIng for admission years ago,i chose accounting.

Being a professional course there is degree of prestige associated with being an accountant, it take a high level of dedication, patience,dillgence and integrity to be an accountant.

In my school then, if an accounting applicant does not get a high enough putme you may be diverted to economic but it never happens the other way around.
This year accounting was one of the first 3 most sought after course, According to jamb's Database.

In terms of job opportunities accountants are sought after with aggressively, with lucrative options due to the practicality of the course.Accounting have evolved greatly From recording and classifying to evaluation and analysis.
Management knowledge inherent in the accounting profession is applicable anywhere especially with the globalization and harmonization of accounting standard (IFAC AND IFRS),you can decide to work for an employer or start your own business.


Economics is more of a theoretical course with little or no real lIfe applications, "ceteri paribus" "perfect market conditions" are all utopic terms, or economy is far from perfect. Not undermining these theory accountant regard some but when it balls down to pragmatism ,accounting is the way to go.

Half of the population taking AAT and ICAN courses are all economics students, do a survey.
it brings to mind the saying " if you can't beat them, you join them".

Looking forward to welcoming you to the fold.

love this fellow.I always happy whenever I does accounting related course.

Jarus:


Without professional qualification in accounting at least, no serious employer takes an accountant seriously.


He doesnt have any edge in accounting job over an Agric graduate that has accounting professional qualification.

An accounting graduate without professional qualifications (and not writing one) can only get accounting job in government company or tier two companies.

However, if it is not accounting job, he would be considered for general jobs (non-course specific, general graduate jobs, under-26) like a graduate of say Sociology or Political science in banks, Big 4, and other general recruiters.

Even if he gets a Big 4 job, he has to enrol for ACCA/ICAN if he is posted to Tax or Assurance/Audit. Same process a Sociology graduate that got a Big 4 Tax/Audit job will go through.

So why "waste" 4 years when someone that studied Economics and and wrote ICAN/ACCA in less than 2 years will get same job in your field, and on top of that, still available for jobs in his own field.

You have put conditions that are not part of the argument at the beginning.

Which of the two courses has a better chance of employment is the real question eg 50 accounting graduates and 50 economics graduates with equal grades eg 2.1 or 2.2.

The truth is more accountants will get jobs may be 40 out of 50 accountants will be employed and maybe 20 out of 50 economist will be employed.

This is why most economics graduates ALWAYS have to go extra mile eg obtaining Master's Degree, PhD, ICAN, etc before they make it but there are still Bsc Accounting graduates that can make it without such because accounting has such edge over economics.

Jarus:


Without professional qualification in accounting at least, no serious employer takes an accountant seriously.


He doesnt have any edge in accounting job over an Agric graduate that has accounting professional qualification.

An accounting graduate without professional qualifications (and not writing one) can only get accounting job in government company or tier two companies.

However, if it is not accounting job, he would be considered for general jobs (non-course specific, general graduate jobs, under-26) like a graduate of say Sociology or Political science in banks, Big 4, and other general recruiters.

Even if he gets a Big 4 job, he has to enrol for ACCA/ICAN if he is posted to Tax or Assurance/Audit. Same process a Sociology graduate that got a Big 4 Tax/Audit job will go through.

So why "waste" 4 years when someone that studied Economics and and wrote ICAN/ACCA in less than 2 years will get same job in your field, and on top of that, still available for jobs in his own field.

I have worked in a company before with more than 100 accountants but the qualified (certified) ones with ICAN were just about 6.

Which company will employ 100 economists at once in Nigeria?

How many times do see companies looking for economists? May be twice a year.LOL

If accounting graduates have their way, the whole social sciences will be shut down, leaving only them.

Op, study the one you want and do well in it. That's a 2.1 and above. After graduation, you can charter and still do the work of an accountant.

Most entry level jobs in major recruiting firms, especially banks don't have any special preference for any course. They just specify degree and age, dassal. Graduate well and on time.

what is economics and what is accounting self


what is there function

Accounting is the best,even d head of economist is an accountant.

sorry for disturbing you people o

am an aspirant of university of ilorin.....wish tew study accounting cox av got the passion tew study it right from my SS1 days..

but i scored 209 in jamb... and the cut off for accounting is 240...
tho i was given some other course tew choose from like

FINANCE
MARKETING
INDUSTRIAL RELATION
SOCIOLOGY
CRIMINOLOGY
ISLAMIC STUDIES

i would have loved tew study in that school but i cant sacrifice mah dream course for any school

am already processing KWARA STATE POLYTHECNIC tew study accountancy

mä frnd accounting is a better course than economics in the Nigerian system...bus administration graduates have made nonsense of economics graduates...most firms in nigeria are not owned by sound biz entrepreneur that understand the functions of economist..ratger thier directors takes leadership in decision making thereby by cutting the need for econonist...that's why they fail alot...and for biz managers,buz admin students are rather preferable..but with accouting..your knowhow cannot be replicated by any ego driven director..hence the firm's cannot do without an accountant..the firm's depend on all your results to a certain dia level of progress..hence they are always constantly needed..go for accounting

Accounting +professional certification. You will be the most wanted.You can do Ms.C Economics later.

wallace1:
Hello, fellow nairalanders,
Between Economics and Accounting,which one is better in terms of employment opportunities in Nigeria? Please lets share our views!!

I'd advice anybody to just go for NCE and at the same time take ICAN. Schools are being established everyday, and with ICAN cert and NCE, you have an edge over any other BSC or MSC holder

dolphinife:


Yeye

An economist can still work as an accountant

Can accountant work as an economist?? Very rare.....thats the diversity you have when you study economics.....Accountancy as a course is shallow.....while economics is broader

Did you go to school at all ..I'm just asking oo..kindly read what you wrote again

Sezua:
In the whole world-Accounting. All these people shouting Economics i just wonder what point you have to back it up. Every reasonable company has an accounting department, or at least something similar to that. Ministries, Agencies, Schools and even Churches have an accounting department. So I don't even understand what these people are talking about.
A lot of people who graduated as Economists still end up becoming accountants.

The point is simple.....jealousy or ignorance.....

Accounting is enjoying a deserving advantage from Nigerian law that gave them the exclusive legal right to practice accounting and taxation just like Law, Medicine and few others that's why they feel jealous.....

You can be employed in any company anytime without knowing even a driver in that company, you know why, even if you have 10 unemployed younger ones, except they know accounting, they can never work as an accountant for you..... it is a merit based course. You must know it for you to do it practically, what people think is accounting job like counting money in the bank, paying salaries or recording entries for organisation is not accounting per say.

But for you to enjoy accounting, you must work hard to know it not to pass it because 70% of those that read accounting don't even know it out of the other 30% that know it, only 10% or less can actually do it practically, so work hard to join the 10%.....

As for economics, last time I checked, they don't have any specific area of job responsibility solely reserved for them by law.....what I mean is there is no law that says you must employ an economist in any department of a business....but accounting and other few courses, they have areas reserved for them by law.....taxation, auditing, accounting, it's not their fault...it's God...any course that don't have exclusive areas solely reserved for them by law, practice or convention is not an "A" list course to me and if you doubt it, give me an example.


Economics is just a father on paper, thank God I never made such mistake...as for those shouting Economist can do the job of accountant, my dear, na for dream.... wake up to reality....in fact what is the job of an economists in SMEs which employ more than 50% of every country workers or do we have economics dept/unit/section....but you know now even in your family, an accountant is needed....lol


Accounting all the way....

ibbryte:
was in the same dilemma when i applyIng for admission years ago,i chose accounting.

Being a professional course there is degree of prestige associated with being an accountant, it take a high level of dedication, patience,dillgence and integrity to be an accountant.

In my school then, if an accounting applicant does not get a high enough putme you may be diverted to economic but it never happens the other way around.
This year accounting was one of the first 3 most sought after course, According to jamb's Database.

In terms of job opportunities accountants are sought after with aggressively, with lucrative options due to the practicality of the course.Accounting have evolved greatly From recording and classifying to evaluation and analysis.
Management knowledge inherent in the accounting profession is applicable anywhere especially with the globalization and harmonization of accounting standard (IFAC AND IFRS),you can decide to work for an employer or start your own business.


Economics is more of a theoretical course with little or no real lIfe applications, "ceteri paribus" "perfect market conditions" are all utopic terms, or economy is far from perfect. Not undermining these theory accountant regard some but when it balls down to pragmatism ,accounting is the way to go.

Half of the population taking AAT and ICAN courses are all economics students, do a survey.
it brings to mind the saying " if you can't beat them, you join them".

Looking forward to welcoming you to the fold.

Tell them, but its funny how people still rate economics above accounting in this day and age, with accountant now equipped with skills in performance management and Strategic Financial Management, that covers all areas of management of both human and material resources. I tell you in present day business environment the number 1 staff you should get is an accountant and others, especially Nigeria, because you have to know the cost implication of hiring others skills in the organisation so as not to hire wrong, let me not go further. For student who are confused on which career path to go, please go for Accounting if you don't get it prepare for ICAN Foundations.

I laugh at some individuals with no work experience making comparisons here.
some of u who are accounting graduates don't even know that it is mainly Economists and statisticians that occupy that planning commissions of the public sector. They are behind the budget planning of the government, they also play other important roles in the public sector which include advising the executive, proper checks on M&E systems etc.
Just like the Accountants, Economists are noble and also occupy key roles in the public sector. If u really wish to understand how this works , pls visit the public sector where recruitment is based on area of specialization. To summarize, both courses are noble and important. If I must choose, I will prefer to study Economics, ....my reason is simply with hardwork I can still professionalise in Accounting.
Today I m happy to say that I read Economics and work as a planning officer. I m also undertaking ICAN and i m also in final stage.

Go for Bsc Economics.
Then write all the professional exams in Accounting to qualify as a Chattered Accountant.
Back it up with an MBA.
Aim for top grades.
Then the sky will be ur limit......

Junior66:

Every company also has a managerial department, human resource dept etc.

Yes for people who know about administration and Human resources. Mind you Accountants are groomed to be better administrators and HR persons than economists.

wallace1:
Hello, fellow nairalanders,
Between Economics and Accounting,which one is better in terms of employment opportunities in Nigeria? Please lets share our views!!

It's a good question but it depends on what part of the country you're based in. If you say so, or the locations that you're considering, I can offer an insight.