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Why Major in Economics?
Why Major in Economics?
From raising living standards to designing policies that preserve the environment, economics provides powerful tools for understanding the most pressing policy issues of the day. And while studying economics is a a great way to understand the most important issues facing the world today, students are also concerned about what they will be do after classes end. One of the advantages of the economics degree is the diversity of professional opportunities it affords. Our graduates go on to rewarding careers in academia, business, and the public sector. An economics degree is also excellent preparation for a range of career objectives, including graduate degrees in business, planning, public policy, and the law. Majoring in economics is an excellent choice for students considering graduate school as well as those who want to enter the work force immediately after graduation.
Preparation for Grad School
Because studying economics helps students to develop the critical thinking and analysis skills that are highly valued in graduate studies, a BA degree in economics provides excellent preparation for those planning to go on to graduate school in business, law, finance, international relations, policy analysis, economics, and many other specializations.
- Law School: The curriculum in most research-oriented law schools uses economic analysis extensively, making economics a superb choice for pre-law students. In fact, several graduate schools in the U.S. offer graduate study leading to a law deree (J.D.) and a doctorate in economics. Economics majors score higher on the Law School Admission Test than any other majors1.
- MBA: Economics provides the theoretical background for business courses and excellent preparation for those considering an MBA.
- Public Policy: Because public policy issues invariably pose economic questions, economics is a natural undergraduate major for those interested in graduate education in public policy, public administration, or public health.
- Ph.D.: Economics majors may also pursue graduate education toward a Ph.D. in economics, finance, or other social sciences.
Career Opportunities
For many of you, the B.A. degree in economics is the last college degree that you will attain, at least for the foreseeable future. Your degree will afford you a wide variety of opportunities. Many private sector jobs are available for economics majors in the banking industry, brokerage houses, industry and trade associations, insurance companies, investment banks, public utilities, survey research firms, law firms, management and public relations firms, and many other industries. Other opportunities for economics majors include policy analyst and research associate positions in various government agencies at the federal, state, or local level, as well as in the think tanks located throughout the United States.
Economists are also working in places you may not have thought of. Many high schools offer economics courses, and some are requiring them. With an economics major or minor, you are better qualified to teach economics in K-12 schools. With increasing focus on market-based solutions to environmental and other social problems, many nonprofit agencies--such as the Sierra Club--are employing economists.
Finally, according to the Occupational Outlook Handbook prepared by the U.S. Bureau of Labor Statistics, the employment of economists is expected to increase 10 to 20 % between 2002 and 2012. "Rising demand for economists should stem from the growing complexity of the global economy, competition, and increased reliance on quantitative methods for analyzing and forecasting business, sales, and other economic trends."
Convinced?
If you'd like to declare your major in Economics, fill out the Declare a Major form (PDF) from the College of Arts and Sciences. You will need two completed copies of this form. Then make an appointment to meet with our Undergraduate Adviser to have the forms approved and signed. Finally, return the two signed copies to the College of Arts and Sciences. The form is available online at the College of Arts and Sciences resource page, along with many other useful documents.
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