Why Major in Economics?
The study of economics provides a good background for careers in business and government. It develops quantitative and analytical skills which are applicable to many jobs. Knowledge of economics is also essential for well informed citizens to participate responsibly in public debate and decision-making on many issues. Because the range of interests among economics majors is quite broad, students are encouraged to work with a departmental advisor to discuss a plan of studies that fits their individual needs.
Economics can be combined with business as a dual major at the undergraduate level. A major in economics can also provide a background for postgraduate study in law, business, professional level training in economics, public administration, professional health management, hospital administration, urban affairs, and transportation studies.
Here are some of our frequently asked questions:
What kind of jobs are out there in economics?
Students find that economics provides a good preparation for jobs such as: investment banker, statistician, budget analyst, financial analyst, trade specialist, program analyst, insurance broker, professor, revenue agent, consultant, economic analyst, and loan officer.
How can I combine the study of economics with another field that interests me?
A number of students find that they are interested in a double major. Among the majors often combined with an economics major are computer science, history, philosophy, political science, psychology, sociology, and mathematics. There is also a joint major with mathematics and a joint major with statistics. The joint majors with mathematics and with statistics were developed to provide students with a comprehensive program that will prepare them for a quantitatively oriented job in industry. These programs are also excellent preparation for graduate study in economics, business, or statistics.
Many economics major participate in the dual major program with the College of Business Administration. The dual major with business was developed to complement the economics major by providing students with skills from business administration. It is a structured program and students must apply for admission. The applications are generally submitted in the fall of the sophomore year. Guides to this program are available from the economics advising office.
Which should I take first: Econ 0100 (Introduction to Microeconomic Theory) or Econ 0110?
You can take either one first. Some people prefer to start from the big picture (Econ 0110) and then examine the details (Econ 0100). Others prefer to start with the foundations (Econ 0100) and then build the whole edifice (Econ 0110).
How much math will I need?
The BA degree requires Math 120 (Business Calculus) and either Stat 200 (Basic Applied Statistics) or Stat 1000 (Applied Statistical Methods). The BS degree requires Math 0220 and Math 0230 (Calculus 1 and 2), and Stat 1000. For many quantitative and analytical degrees and for graduate school, more math and statistics may be required.
Can I get a minor in economics?
Yes. The minor in economics requires 15 credits:
Econ 0100 and Econ 0110, and choose between Econ 1100 or Econ 1110, plus two economics electives.