Department of Economics
Invest In Your Career
-Not Just a Job-
Economics majors study how businesses operate in competitive global markets and how public policy impacts businesses and the economy. They use their understanding of market structure and competitive markets to work for manufacturing firms, and for a variety of service-related enterprises including those in the financial sector, health care sector, and government agencies. Students with statistical training can analyze marketing data, monitor economic trends, analyze credit risk, and develop forecasts.
Economics majors develop their analytical and investigative skills by studying economic theory and by learning to apply these skills by taking courses in such areas as environmental economics, health economics, international economics, government and regulation, public finance, labor economics and economic history. Because economics teaches you how to analyze data and information and how to think strategically about business decision-making, an economics major with good training and the necessary interpersonal skills is highly competitive in the job market.
- When ranked by median mid-career earnings for bachelor’s degree holders, economics emerges as 5th among 33 majors, with median earnings of $50,360, the highest among all business degrees. (Daniel E. Heckler, “Earnings and Major Field of Study of College Graduates,” Occupational Outlook Quarterly, 1996, Vol. 40, no.2, pps 10-21.)
- When ranked by average starting salary, economics once again emerges as the 5th highest paying major, fifth only to petroleum engineering, computer science, chemistry and mathematics. Economics emerges with an average starting salary of $31,333, once again the highest among all business-related degrees. (National Association for Colleges & Employers)
- According to the Bureau of Labor Statistics Occupational Outlook Handbook, “employment for economists is expected to grow faster than average for all occupations through 2010.” To read more about the nature of an economists’ work and the outlook for the profession see the Occupational Outlook Handbook (linked to: www.bls.gov/oco/ocos055.htm)
- As a degree for women, economics is described as “golden.” The median income for women age 35 to 44 holding bachelor’s degrees is the highest for economics majors, with an annual median income equal to $49,170. For women, an economics major produces higher median incomes that engineering and pharmacy, two traditionally high-salary fields. (Bureau of Labor Statistics “Occupational Information Outlook Quarterly,” Summer 1996.)
What Economists Do
Analyst
Benefits Specialist
Commercial/Consumer Loan Officer
Consultant
Data Analyst
Environmental Analyst
Financial Analyst
Government Agencies (Staff Economist)
Health Economist
Insurance Agent
Loan Officer
Market Research Analyst
Public Policy Analyst
Purchasing Agent
Quality and Statistical Control
Retail Banker
Security and Investment Analyst
Statistical Analyst
Trust Officer