Undergraduate program
Why Major in Economics?
There are at least two important reasons why majoring in economics is a good decision. One is the fact that economics has become an integral part of our modern society. An understanding of economics is indispensable when it comes to running a successful business, making sense of international events and analyzing government policy. Graduates with a background in economics enjoy a very unique advantage in that economics offers a specialized and powerful framework for tackling today’s problems in the increasingly competitive and global economy.
A second reason for majoring in economics is that the economics viewpoint as it is often put, not only deals with topics like pricing, wealth distribution, money and incentives, but also has made inroads into explaining a much wider set of issues such as criminal behavior, spread of disease, political power and immigration. The tools of economics are proving to offer guidance and answers to all sorts of questions in society. The boundary as far as what economics can explain appears to have almost no limit. For these reasons, as well as others, choosing to major in economics is something you will not regret. The economics discipline not only endows you with a valuable specialty that is increasingly in demand, but also guarantees you will have a contribution to make no matter what endeavor you pursue.
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Career Opportunities in Economics
Choosing the Economic Major
Choosing an Economics Minor
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Career Opportunities
Since the economics major is both a business field as well as a social science field, the major provides relevant training for a wide variety of careers. Most economists are focused on practical applications of economics to areas in the private sector and government.
- At a corporation economists can be found forecasting demand, analyzing market competition, and studying the impact of economic variables and government policies.
- In the financial sector economists assess risk, evaluate clients and study market data.
- Economists also frequently work in government, writing and researching reports, enforcing legislation, studying environmental issues and tracking budgets and tax revenue.
- International organizations also regularly hire economic majors.
What type of jobs can I get with an economics major?
Who employs economists?
How much does an economics major make?
Any famous majors in economics?
Possible positions you might occupy being and Economics major:
Actuary
Bank examiner
Bank research analyst
Business manager
Claims examiner
Commodities trader and analyst
Credit officer
Demographer
Economist
Forecasting specialist
Health policy planner
Human resources administrator
Insurance agent and broker
Investment banking analyst
Investment counselor
Labor relations expert
Lawyer
Market research analyst
Product manager
Public administrator
Purchasing agent
Statistician
Underwriter
and many more...
Employers of Economists
There are numerous types of employers of economists. For example, here are just a few of the different types:
Accounting Firms
Banks
Brokerage Firms
Chambers of Commerce
Commerce Department
Consulting Firms
Department of Labor
Educational Institutions
Environmental Protection Agency
Federal Reserve Banks
Insurance Companies
Internal Revenue Service
Investment Banks
Manufactures
Market Research Firms
Personnel Agencies
Pharmaceutical Companies
Telecommunications Firms
Earnings
According to the United States Bureau of Labor Statistics, the median annual salary earnings of economists was $72,780. The middle 50 percent earned between $53,650 and $96,240. The lowest 10 percent earned less than $41,040 and the highest 10 percent earned more than $129,170.
According to an article in the Wall Street Journal, the economics major has recently become one of more popular undergraduate degrees at leading universities. In today’s global economy filled with its uncertainties, students view economics as the best vehicle for a job with good pay and security.
For more, see “The Hot Major for Undergrads Seeking High Pay is Economics” by Jessica E. Vascellaro, CareerJournal.com
Famous Majors in Economics
George H.W. Bush: former President of the United States
Arnold Schwartzenegger: Actor and Governor of California
Ted Turner: CNN
Ronald Reagan: former President of the United States
Alex Keaton: Hollywood Actor
George Schultz: Former U.S. Secretary of State
Mick Jagger: Rolling Stones
John Elway: NFL Quarterback
Lionel Ritchie: Singer and Songwriter
Steve Balmer: Executive VP, Microsoft
The Undergraduate Major in Economics
The Department of Economics offers two types of undergraduate programs. The first type is the Business Economics Program. In this program the student completes the requirements of the Department of Economics as well as the core business courses taken by all majors in the College of Business. The second type of program is on a liberal arts foundation and involves a choice between the General Economics Program and the International Economics Program.
Choose one:
Business Economics Program
General Economics Program
International Economics Program
The Undergraduate Minor in Economics
Choosing a minor in economics is a great way of complementing a major in any number of different areas. Depending on exactly what type of major you have, there are several different minor tracks available from the Department of Economics. Each of these courses must be completed with a grade of “C” or better.
Choose one:
Minor in Economics for Business Majors
Minor in Economics for non-Business majors
Minor in International Economics for non-Business majors
Minor in Economics for Business Majors
To earn a minor in Economics, the business major is required to take the following.
Electives:
Three economics courses (3 credits each at 3000 level or above, excluding ECO 3003)
Courses used for the Economics minor may not count towards other business major or College core requirements.
Minor in Economics for non-Business majors
To earn a minor in Economics, the non-Business major is required to take the following.
Core courses:
Intermediate Microeconomics ECO 3101
Intermediate Macroeconomics ECO 3203
Electives:
Three economic courses (3 credits each at 3000 level or above)
Minor in International Economics for non-Business majors
To earn a minor in International Economics, the non-Business major is required to take the following.
Core courses:
Intermediate Microeconomics ECO 3101
Intermediate Macroeconomics ECO 3203
International Economics Courses:
Economics of International Trade ECO 4704
International Monetary Economics ECO 4713
International Economic Development ECO 3013
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