Almost anything! A career in the field of economics demands a unique way of looking at the world. If you’re constantly thinking about how people respond to incentives and how one action can influence another, you’re already thinking like an economist.
Economics often involves topics like wealth, finance, recessions and banking, leading to the misconception that economics is all about money and the stock market. Actually, it’s about people! How will an aging population affect life in the coming decades? How will the workforce change with advances in robotics, automation, and artificial intelligence? An economics education helps you understand historical trends, interpret today’s headlines and make predictions for the coming years.
Placement for Economics
Our economics graduates are prepared to meet the growing demand for economic and analytical skills (2020).
Develop your analytical reasoning
Employers are looking for professionals that know how to interpret data and make logical conclusions.
According to the Bureau of Labor Statistics (2021). This field is only expected to grow in the future.
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Types of Economist
There are three principal career paths available to an economics major in the fields of business, government and academics.
The Business Economist
The primary role of a business economist is to help firms understand and adapt to a changing economic environment. Business economists interpret and forecast the general economic climate, analyze conditions specific to their firm and aid the firm's operational efficiency.
The Government Economist
The range of jobs for economists is as broad as the government itself. Government economists work for agencies in the fields of agriculture, business, banking and insurance, finance, labor, transportation, utilities, urban economics and international trade.
The Academic Economist
There are many opportunities for Economics majors to teach at the high school and college levels. At the collegiate level, Ph.D. economists will continuously be in high demand.
Beyond these paths, Economics majors find work in almost all industries. Economics will teach you how to develop your analytical problem-solving skills that are in demand in every sector of the economy.
The Bureau of Labor Statistics (BLS) reports that employment of economists is projected to grow 14 percent from 2019 to 2029, much faster than the average for all occupations. Job prospects are best for those with strong analytical skills and experience using statistical analysis software. The BLS (2020) also reports the national median annual wage for economists was $108,350.
Below are some occupations where those with an economics degree are found:
- Account Representative
- Benefits Consultant
- Brand Manager
- Energy Analyst
- International Tax Manager
- Legislative Aid
- Operations Manager
- Service Manager
- Vice President
- Research Analysts
- Business Analysts
An Economics major gives you a solid understanding and experience in economic theories and practices along with great flexibility to determine the courses that will best serve your career goals. Economics majors complete coursework in the following areas:
- Intermediate Macroeconomics Theory
- Intermediate Microeconomic Theory
- Introduction to Econometrics
- Money and Banking
- Public Finance
- Environmental Economics
- Economics of Labor Markets
- International Economics
- Cost Benefit Analysis
- Law & Economics
- Sports Economics
- Economic Development
- Directed Research in Economics
- Healthcare Economics
- Economics of Social Issues
Beyond the Classroom
Student organization participation is the perfect way to dive deeper into your economics degree.
Open to all majors, the Economics Club hosts a variety of activities throughout the year including, service projects, guest speakers and panel discussions on timely topics. Past trips have included visits to the Federal Reserve Bank of Chicago and the Chicago Board of Trade.
The Pre-Law Club is open to all majors and provides many networking opportunities for those interested in pursuing a law degree. Activities include Law School Admissions Test (LSAT) assistance, panel discussions with local attorneys and presentations by law school recruiters.