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Sunday, November 01, 2009

BA or BS?

On the GPS show on CNN today hosted by Fareed Zakharia, two guests Dr. Schiller and Mr. Wolf both made the point that economics is not a science. In fact they pointed out the behavioral side of economics. I have, for quite a long time, stated that business, which is far less developed ( in terms of models) than economics, is not a science but mostly is an art. It is best learnt from those who have been successful and have thought deeply about their activities, in my opinion.
Most schools, including ours, award Bachelor of Science degrees to those majoring in business- a travesty, and insults those who do pursue rigorous science. Then there are schools like Northwestern which push the envelope to an egregious degree by having degrees in "financial engineering."

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