Economics

Career Opportunities

The American Economics Association has excellent Web pages describing careers opportunities for students with a baccalaureate degree in economics. It also produces a short video about what you can do with economics.

People working as professional economists often hold advanced graduate degrees, but students graduating with only a Bachelor's degree find a wide variety of employment opportunities. While searching for that first job can sometimes be a challenge, economics majors are very successful and earn salaries well-above those graduating in most other majors.

Job Skills

Most of the specific skills that people use on the job they learn on the job. Employers often care less about the specific pieces of information you know than about the package of more general skills you possess. And economics majors can bring an impressive package to the employment table.

Economics courses are full of graphs and charts that display information and explain relationships. As a result, students majoring in economics learn to analyze data and to think strategically about decision-making. They learn to think critically about a variety of complicated situations, to ask the right questions, to work with numbers, and to solve problems. Because of their broad analytical skills, quantitative background, and clarity and precision of expression, students majoring in economics are highly sought after in many occupations. Employers know that, if they want someone who can think and who is able to learn the specific job skills they need, they should hire an economics major.

Opportunities with a Bachelor's Degree in Economics

Most career opportunities fall into the following categories:

Banking and Finance. These are perfect for a major in economics. Banks, brokerage firms, insurance companies and investment houses are but a few of the options in this broad area. Knowledge of the economy is indispensable for these institutions and your background in economics will make you a valuable recruit.
Management and Marketing. Many economics majors filter into management and marketing positions with both commercial and non-profit firms. Economics provides an understanding of the market system and the broader social context within which these firms operate. Managing scarce resources is right up an economist's alley.
Government Service. Next to business, some form of government service is the most common employment for those with a B.A. in economics. Almost every state and federal government agency needs people with training in economics. The Department of Labor, the Department of Treasury, the Department of State and the Department of Commerce hire thousands of economists. State and federal regulatory commissions, the Federal Reserve System, and the CIA also are major employers.
Data Analysis. Numbers are the life-blood of every firm and government agency. Decisions must be based on solid analysis, and analysis requires data. Firms need data on prices, data on output, data on costs, data on customers, and data on their competitors. Government agencies need data on all aspects of the U.S. and world economies. Because economics majors are trained to collect, analyze and interpret data, they are in demand.
Economic Journalism. Economists who can write for the general reader are scarce. If you enjoy current events, you might consider work as a business writer or editor for a daily newspaper, a free-lance writer for magazines or trade publications, a television journalist specializing in economic affairs, or even a career in the growing field of business journalism on the Internet.

Specific job titles for which students majoring in economics might be hired include:

Market Analyst
Budget Analyst
Marketing Administrator
Credit Analyst
Pricing Analyst
Economic Analyst
Product Manager
Environmental Planner
Purchasing Analyst
Financial Analyst
Real Estate Appraiser
Import/Export Agent
Reporter
Insurance Agent
Research Analyst
Auditor
Loan Officer
Sales Analyst
Loan Review Analyst
Stock Broker
Lobbyist
Statistician
Management Consultant
Underwriter

Specific Occupations of Students with a Bachelor's Degree in Economics

A sampling of actual entry-level positions obtained by recent graduates with only an undergraduate degree includes:

Bank examiner, U.S. Comptroller of the Currency
Research Associate, University of Tennessee Center for Business and Economic Research
Financial analyst, Vanguard
Contract Specialist, U.S. Army
Research associate, U.S. Bureau of the Census
Sales director, Midland Rockhounds (Minor league baseball team)
Annuities specialist, Prudential
Financial Analyst, PepsiAmericas
International database manager, Haver Analytics
Reports Analyst, Federal Reserve Bank of Philadelphia
Reconciliation specialist, Wachovia
Credit systems analyst, First Commonwealth Bank
Inside sales representative, Truck-Lite Company, Inc.
Manager, Bruster's Ice Cream (yum)
Human Resource Specialist, GEICO
Financial advisor, American Express
Economist, Internal Revenue Service
Pension specialist, Employee Benefit Data Systems
Management Trainee, Springs Global
Financial planner, GE Capital Corporation
Sales coordinator, Regency Office Supplies
Global cash trust officer, Mellon Corporation
Purchasing agent, Gulf South Medical Supply
Price analyst, Airline Tariffs
Manager, Marriott
Insurance underwriter, Fireman's Fund Insurance
Venture capital assistant, Castle Group
Legislative assistant, U.S. House of Representatives
Database specialist, Management Science Associates
Marketing researcher, National Food Brokers Association
Consultant, Quinn Consulting