According to the U.S. Bureau of labor statistics, employment of economists is expected to grow faster than average for all occupations though the year 2010! Listed below are some possible career paths for economics majors.
Academic Careers
Students interested in teaching and research may choose to continue on to graduate school and pursue an academic career. Post-graduate education is helpful in all careers, especially for promotion to advanced and responsible positions. A master's degree is sufficient for some teaching positions at two-year institutions; however, a Ph.D. is necessary for an academic career in four-year colleges and universities.
Business
Economists are involved in decision making in such areas as corporate planning, government regulation of business, government aid and grants, marketing, inventory analysis, and firm location. Therefore, economics is also an excellent background for management trainee programs.
Consulting
Economists who have established a certain reputation may add consulting as a sideline to another career, say the academic career (as many renowned economists do), or else choose consulting as a major career either in an established consulting firm or by organizing their own consulting firm. Successful consultants usually have graduate training and substantial experience.
Government
Government jobs in economics encompass the entire spectrum of local, state, regional, and national government activity, as well as non-profit organizations. An economist usually is involved in the evaluation of programs and their efficiency, in the drafting of economic legislation, and in the analysis of data and preparation of studies on the state of the economy. Economists can also serve as heads of agencies, advisors to agency heads, or hold other managerial positions within the administration and can influence government policy. These latter careers usually require experience and/or graduate training.
Journalism
There always exists a demand for persons well-trained in economics who are capable of writing clearly and precisely. An individual who has this combination of skills can work as a business writer or editor for newspapers, magazines, or trade journals. He/she can also freelance for these publications. As the economy becomes more complex, those who are able to effectively communicate economic concepts will play an expanding role in these areas.
Professional Schools Like Law or MBA
Many major business firms want students with a good liberal arts degree, like economics and then an MBA. Good MBA schools like the analytical skills of an economics degree. Most law schools consider economics an excellent background for legal training due to the mental discipline which economics imparts. Economic reasoning is increasingly being applied to a variety of legal issues and problems. The economics' majors average score in the LSAT is in the top 3 compared to all majors.
