In the binary education system in The Netherlands there are two types of universities, that which prepare people for industry jobs and that which prepare people for research. I went to both, the former has only a small focus on algorithms, complexity and datastructures. The latter has specific courses about those topics.
I think in practice you can often reach good enough performance without worrying about which algorithm or datastructure to use or what the complexity of your code is. There are many exceptions where those kind of skills are actually required, but it's easy to forget that software is a huge market and that a large portion of that market is people developing fairly uncomplicated applications.
You can create an incredible amount of value in the software industry without knowing much of computer science, but you are dependent on people who actually have that knowledge to create your tools, dependent libraries, used services, etc.
If you don't know whether to do CS or business administration, you might be able to do something in between, e.g. business administration with a IT specialisation.
(I got master degrees in Computer Science and Business Information Technology from the University of Twente and am currently a PhD student in Empowerment Informatics at the University of Tsukuba in Japan)
It's far more important that the code be simple, readable, and integrate easily with other teams' work.
Yeah, sure, in some domains latency isn't terribly important, but there certainly are a number of domains where it is.
I didn't read it as derision. I read it as an indication of a different focus between two areas of development. Microseconds don't matter in most cases. Milliseconds matter more often. Something optimized for microsecond-ish timing will make a tradeoff somewhere else (like code readability, generalness, etc).
Are you sure you don't mean 10 microseconds?
[0] http://stackoverflow.com/questions/17256040/how-fast-is-stat...
But then in the real world, arrays can still be faster than lists even when you're inserting a lot...
My point was more that understanding the semantics of the two types is important to how the program will run.
Actually I think this is exactly what a software engineer is. Knowing what datastructure to use in which situation because of its implementation details is important! Yes, it's not the only aspect of the job, but it's hugely important.
It can be as simple as Arrays vs. LinkedLists; where Arrays have zero cost access and LinkedLists have high indexing costs, but low constant time insertion costs where you don't know the content length. This can have huge effects on the performance of an application.
This is important to applications, and no, you don't have to implement the datastructure, but knowing which to use when and why can save you the time later from having to find all your performance problems.