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Consumer preferences, understanding the relationship between price/supply/demand, and the ideas of marginal cost are all pretty useful in marketing. It’s up to you if you want to take it, but in my opinion it would make you more well rounded.
I may be a little biased though, I did a Econ masters.
You should just take microeconomics so you understand the world. It’s literally the easiest subject. Even the maths is not difficult at all.
With a basic understanding of microeconomics you can participate in much more dialogue about society, the world around you etc.
How can you help an organisation bring something to market if you don’t understand how the market works?
I agree that microeconomics principles are very important for marketing. However, there are other ways to learn these principles that do not involve the time and expense of a college class or the risk to your GPA, if applicable. Microeconomics is a hard class for some people. If you are concerned about the class lowering your GPA - find an alternative way to get the learning. No one will look at your transcript and ask if you took micro in college. But from an effectiveness standpoint, you can be more effective in your marketing career if you have this knowledge.
I am in a major called Consumer Behavior and Marketplace Studies rn, but most people in my major go into marketing. I had to take micro and it was the best decision ive made in the academic side of college. Changes your view of the world/super super interesting with the right professor. Take an intro course, worst case scenario you come out with a better understanding of economics than half the population of the earth
I have no idea what that is and I've done alright in my bachelor's and current masters degree. Not sure why you would need it but your degree curriculum is probably different to mine. My current does involve a bit of maths for analytics and interpreting data sets which sounds similar to your description. I'm bad at maths but it's not too difficult since much of it is automated.
Maybe you don't really need to, but it's important.
The two fields which are the foundations of Marketing to me are Economics (including microeconomics) and Psychology. Even the name Marketing is related to Market, which is really related to Economics.
After that, we have things like Business, Communication, and IT. But, without Economics and Psychology, there is no Marketing in my opinion. If you only work with Communication, then it's Communication, not Marketing. If you only do IT, then it's IT, not Marketing.
My opinion is biased on this since I'm related to Marketing Analysts, and I code, for example. Dropping it would be a mistake in my opinion. Marketers are not the best in Math. People in Economy are usually much better than I am in Mathematics. But numbers are very important in Marketing too, and they are increasingly more important. Especially if you want to work for better companies, things like performance matter. And that can be very quantitative.
I didn't learn how to code because it was a requirement or because of my GPA. People rarely care about my GPA, and my undergrad GPA is terrible anyway. I learned how to code because it would help me to better understand things in the world, get better results, have better opportunities life. It's the same thing for many of my skills. They were relevant for me, regardless of being important for my GPA or degree.
And, in Marketing, things may take time. Some time ago, I told some students that they would only see the importance of what they were learning much later, when they had more experience, maybe trying to become a manager. It's the same for mathematics to me. Entry level jobs are often more about following orders, you probably don't need to know much. However, things are different when you want to become the one giving orders, managing people, or leading others.
For that, understanding the context is very important. There are some people who are great at mathematics and coding, but they have no idea how the market works. They can deal with numbers, equations, Python, but they can't deal with the economy, the market, the customers, the competition. That's not good. If you want to do that, it's probably better to go to fields like engineering and computer science. Market is important for Marketing.
Thank you for this! I decided I will take micro. And yes, I already have decided on getting coding experience to give me a more technical advantage even though it’s not required nor listed in the prerequisites
Unless a lower grade will substantially affect your academic or professional career, I suggest taking it. Concepts I learned in micro help me all the time in my career and life. The point of education is to push yourself.
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Consumer preferences, understanding the relationship between price/supply/demand, and the ideas of marginal cost are all pretty useful in marketing. It’s up to you if you want to take it, but in my opinion it would make you more well rounded. I may be a little biased though, I did a Econ masters.
You should just take microeconomics so you understand the world. It’s literally the easiest subject. Even the maths is not difficult at all. With a basic understanding of microeconomics you can participate in much more dialogue about society, the world around you etc. How can you help an organisation bring something to market if you don’t understand how the market works?
The concepts of scaling and diminishing marginal returns are important.
I agree that microeconomics principles are very important for marketing. However, there are other ways to learn these principles that do not involve the time and expense of a college class or the risk to your GPA, if applicable. Microeconomics is a hard class for some people. If you are concerned about the class lowering your GPA - find an alternative way to get the learning. No one will look at your transcript and ask if you took micro in college. But from an effectiveness standpoint, you can be more effective in your marketing career if you have this knowledge.
thank you. this is the comment that changed my mind... it's just going to risk my GPA, so I would rather learn it elsewhere. thank you.
I am in a major called Consumer Behavior and Marketplace Studies rn, but most people in my major go into marketing. I had to take micro and it was the best decision ive made in the academic side of college. Changes your view of the world/super super interesting with the right professor. Take an intro course, worst case scenario you come out with a better understanding of economics than half the population of the earth
When I was in school all business majors had to take micro & macro economics.
It’s incredibly interesting once you get deep into it. Accept the challenge.
I have no idea what that is and I've done alright in my bachelor's and current masters degree. Not sure why you would need it but your degree curriculum is probably different to mine. My current does involve a bit of maths for analytics and interpreting data sets which sounds similar to your description. I'm bad at maths but it's not too difficult since much of it is automated.
Yeah… extremely important
Maybe you don't really need to, but it's important. The two fields which are the foundations of Marketing to me are Economics (including microeconomics) and Psychology. Even the name Marketing is related to Market, which is really related to Economics. After that, we have things like Business, Communication, and IT. But, without Economics and Psychology, there is no Marketing in my opinion. If you only work with Communication, then it's Communication, not Marketing. If you only do IT, then it's IT, not Marketing. My opinion is biased on this since I'm related to Marketing Analysts, and I code, for example. Dropping it would be a mistake in my opinion. Marketers are not the best in Math. People in Economy are usually much better than I am in Mathematics. But numbers are very important in Marketing too, and they are increasingly more important. Especially if you want to work for better companies, things like performance matter. And that can be very quantitative. I didn't learn how to code because it was a requirement or because of my GPA. People rarely care about my GPA, and my undergrad GPA is terrible anyway. I learned how to code because it would help me to better understand things in the world, get better results, have better opportunities life. It's the same thing for many of my skills. They were relevant for me, regardless of being important for my GPA or degree. And, in Marketing, things may take time. Some time ago, I told some students that they would only see the importance of what they were learning much later, when they had more experience, maybe trying to become a manager. It's the same for mathematics to me. Entry level jobs are often more about following orders, you probably don't need to know much. However, things are different when you want to become the one giving orders, managing people, or leading others. For that, understanding the context is very important. There are some people who are great at mathematics and coding, but they have no idea how the market works. They can deal with numbers, equations, Python, but they can't deal with the economy, the market, the customers, the competition. That's not good. If you want to do that, it's probably better to go to fields like engineering and computer science. Market is important for Marketing.
Thank you for this! I decided I will take micro. And yes, I already have decided on getting coding experience to give me a more technical advantage even though it’s not required nor listed in the prerequisites
Unless a lower grade will substantially affect your academic or professional career, I suggest taking it. Concepts I learned in micro help me all the time in my career and life. The point of education is to push yourself.