Overview
Economics is the study of how individuals, businesses, and governments make decisions about allocating limited resources. This social science combines mathematical analysis with policy insights to understand markets, trade, and economic behavior.
The field encompasses microeconomics (individual and firm behavior) and macroeconomics (national and global economic systems). Students learn economic theory, statistical analysis, and research methods while developing strong analytical and quantitative skills.
Economics majors are highly sought after in finance, consulting, government, and research. The degree provides excellent preparation for graduate study in economics, business, law, or public policy.
Career Prospects
Top Universities for Economics
Harvard University
MIT
Princeton University
University of Chicago
Stanford University
Yale University
University of California-Berkeley
Northwestern University
Columbia University
University of Pennsylvania
Popular Courses
Admissions Requirements
- Strong mathematics background (Calculus, Statistics)
- High SAT/ACT Math scores
- Interest in current events and policy
- Analytical and quantitative skills
- Good writing and communication abilities
- AP Economics or related social science courses
- Experience with data analysis preferred
Essential Skills
Work Environments
- Financial institutions
- Consulting firms
- Government agencies
- Research organizations
- International organizations
- Non-profit organizations
- Universities and think tanks
- Corporate strategy departments
Related Majors
Frequently Asked Questions
What can I do with a Economics major?
A Economics major opens doors to careers in economic analyst, financial analyst, management consultant, and many other fields. The skills you develop in quantitative analysis, statistical modeling, critical thinking are highly valued across industries.
What is the job outlook for Economics graduates?
The job growth for Economics related careers is projected at 13% (high), according to the Bureau of Labor Statistics. Entry-level salaries typically start around $55,000, with potential to grow to $130,000 or more with experience.
What are the admission requirements for Economics programs?
Most Economics programs require strong mathematics background (calculus, statistics) and high sat/act math scores. Additionally, many programs look for interest in current events and policy and analytical and quantitative skills.
Which universities have the best Economics programs?
Top universities for Economics include Harvard University, MIT, Princeton University, University of Chicago, Stanford University, among others. These institutions are known for their strong faculty, research opportunities, and career placement rates.