Career Options for Economics Majors

The degree in Economics helps students to develop a logical, ordered way of looking at various problems.

With this degree, an individual uses elements of history, philosophy, and mathematics in the daily dealings of real life.

Also, students develop the necessary skills to pursue graduate studies or to go to law school.

THREE GENERAL TYPES OF ECONOMISTS

Business Economist

The tasks for this job include forecasting the business environment, interpreting public policy impacts, collecting and processing data. These individuals may work in manufacturing, mining, transportation, communications, banking, insurance, retailing, investment, or in trade associations and consulting organizations.

Government Economist

This is one of the major sources of employment with positions found within local, state, regional, and national government as well as in non-profit organizations. Jobs in government are usually for the labor, international, development, and population economist. Working for Congress and the Legislature is relatively new, and economists are greatly in demand. These individuals evaluate programs and their efficiency, draft economic legislation, analyze data for preparation of state economy studies.

Academic Economist

A Ph.D. degree is usually required to teach at a college level. Tasks in this area are mostly in research, teaching, administrative responsibilities, and in providing consulting services to business and government.

Additionally . . . There are also lucrative futures for individuals interested in:

Consulting

There is the freedom of managing your own company or working with an established consulting firm. Graduate training or substantial experience aids in success.

Journalism

Clear and precise writing of economic subject matter will open doors as a business writer or editor for newspapers, magazines, or trade journals as staff or freelancer.

The primary occupations of economists with a B.A. are concentrated in executive or administrative, sales, and professional specialties.

WHAT STATISTICS SAY

The Bureau of Labor Statistics’ 2010-11 job outlook for economics is growth that is slower than average (projected 8% until 2018)for all occupations.

The median wage is listed as $83.5k, and the federal goverment states that the annual average salary for economists is $108k.

AKRON, OH* Financial Analyst I

Compiles and analyzes financial information for an organization. Develops integrated revenue/expense analyses, projections, reports, and presentations. Creates and analyzes monthly, quarterly, and annual reports and ensures financial information has been recorded accurately. Identifies trends and developments in competitive environments and presents findings to senior management. Performs financial forecasting and reconciliation of internal accounts. Requires a bachelor's degree and 0-2 years of experience in the field or in a related area. Has knowledge of commonly-used concepts, practices, and procedures within a particular field. Relies on instructions and pre-established guidelines to perform the functions of the job. Works under immediate supervision. Typically reports to a supervisor or manager.

*http://swz.salary.com  March, 2010

WHERE ECONOMICS MAJORS EVENTUALLY WORK

SPECIFIC JOB TITLES

FAMOUS ECONOMICS MAJORS

George H.W. Bush, Former U.S. President (Yale)
Ronald Reagan, Former U.S. President (Eureka College)
Ted Turner, CNN, Atlanta Braves/Hawks (Brown)
Sandra Day-O’Connor, U.S. Supreme Court Justice (Stanford)
Lenny Wilkens, NBA Coach/Hall of Famer (Providence College)
Alex Keaton, TV sitcom character (mythical Leland College)
Tiger Woods, Golfer (Stanford)
Cate Blanchett, Actress (Melbourne University)

WEB SITES OF INTEREST

Exec., Admin., Managerial Occupations: OOH

National Association for Business Economics

Council of American Survey Research Organization

Federal Government Office of Personnel Management

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Study Abroad Scholarships, Fellowships, and Postdoctoral Awards

Federal Grants

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