Plan and Invest in Graduate School
MBA Programs
- "The best people are more frequently taking economics as their major than they were a decade or so ago," said Richard A. Silverman, executive director of admissions at the Yale School of Management. "It shows they have the intellectual fire in the belly to perform well in an MBA program." (Mabry, Tristan. “Economics, Once a Perplexing Subject, is Enjoying a Bull Run at Universities,” The Wall Street Journal, November 30, 1998.)
- For the highest earning MBA graduates ($100,000 or more in their first year) economics was the second most common undergraduate major (19.2%), led only by engineering (21.9%). All other business majors combined accounted for only 17.7%. This is a striking comparison because the number of four-year business degrees awarded nationally exceeds the number of economics degrees by a factor of thirteen! (“The Best Business Schools,” Business Week, October 24, 1994, No. 3395, p. 70)
Law School
- “Of all the majors, economics ranks in the top four or five consistently year after year for both applicants and offers made,” said Edward Tom, director of admissions at the University of California at Berkeley's law school, Boalt Hall. "Logical reasoning and analytical skills" are critical to legal studies. (Mabry, Tristan, “Economics, Once a Perplexing Subject, is Enjoying a Bull Run at Universities,” The Wall Street Journal, November 30, 1998.)
- Out of a possible LSAT score of 180, economics majors average 155, ranking the highest in a study of the most common majors for law school in 1992 and 1995. (Mabry, Tristan, “Economics, Once a Perplexing Subject, is Enjoying a Bull Run at Universities,” The Wall Street Journal, November 30, 1998.)
- For the 1994/1995 LSAT, among the 29 majors in which at least 400 students took the exam, economics majors scored the third highest (behind physics/math and philosophy/religion). Paradoxically, pre-law and criminology came in 28th and 29th! (The Law School Admissions Council, 1996, Data Services Group, Newtown, Pennsylvania.)
Medical School
- Recently, economics has been the major with the highest acceptance rate at medical schools in the US. (Jones, Stephanie and Daniel, and Zebala, Jon. (Medical School Admissions: The Insider’s Guide, 3rd edition, Mustang Publishing, Memphis, Tennessee, 1994, p. 14.)
