What do former President George Bush, Justice Sandra Day O'Connor, William F. Buckley, John Elway, Lionel Richie, and Scott Adams (creator of Dilbert) all have in common?  They were all economics majors (Click here for more famous economics majors...).

 

What Can I Do With an Economics Major?
As the list above suggests, one of the greatest advantages of an economics major is that it allows students a great deal of flexibility.  Liberal arts degrees, in general, expose students to many different ways of thinking, and help students develop critical-thinking skills that are crucial for any successful career.  As a social science, economics draws from history, politics and mathematics to provide a systematic way of analyzing a wide range of societal issues, from a household's decision to buy a new car to a nation's policy on unemployment or the environment.  An economics major is thus excellent background for many different professions in business, government, law or education.  And according to the Bureau of Labor Statistics, starting salaries for economics majors in 1999 were higher than for majors in accounting, business administration, or marketing (Click here for more information on starting salaries for various majors).

 

The following is a sample of job titles that could be filled by economics majors (note that some of these jobs would require additional education/experience beyond the Bachelor's degree):

 

Actuary * Advertising Executive * Auditor * Bank Officer * Bond Trader * Business Forecaster * Business Manager * College Professor * Cost Analyst * Credit Analyst / Loan Officer * Demographer * Entrepreneur * Estate Planner * Financial Planner/Analyst * Financial Officer * Government Administrator * Healthcare Administrator  * Human Resources Administrator * Industry Analyst * Industrial/Institutional Buyer * Information Scientist * Insurance Salesperson * Intelligence Agent * International Trade Specialist * Journalist * Labor Relations Specialist * Lawyer * Litigation Analyst * Management Consultant/Analyst * Market Research Analyst * Policy Analyst * Politician * Property Manager * Public Administrator/Manager * Public Utilities Manager * Real Estate Agent/Broker *  Sales Manager * Securities Salesperson/Broker * Securities/Commodities Trader * Statistician * Teacher * Technical Writer * Transportation Specialist * Underwriter * Urban/Regional Planner * 

 

What Do I Need to Do to Prepare for My Career?
While the possibilities for specific jobs are virtually endless, most economics majors find jobs that fall into one of three broad categories:

 

 

Business
Undergraduate economics majors are recruited by private and non-profit firms of all sizes and specialties.  Many business managers believe that economic training is desirable for positions in sales, analysis and management.  Often these employers are looking for motivated students who can quickly learn a specific business through on-the-job training.  Business economists may be asked to forecast the business environment, assess the impact of public policy on the firm, or collect and process data.  Good communication and quantitative skills are highly valued and familiarity with spreadsheet, database and statistical software is particularly helpful for students interested in these careers.

 

Students planning to enter a career in the private or non-profit sector should consider including the following courses, in particular, in their undergraduate preparation:

 

Economics 380 - Labor Problems
Economics 422 - Business Cycles
Economics 490 - Money and Banking
Economics 495 - Internship

 

Since economics requires strong analytic skills, an economics major is excellent preparation for law school.  Students with a particular interest in law school should consider the Emphasis in Preprofessional Studies which emphasizes classes that develop logical, analytical, and oral and written communication skills.

 

Typical employers:
Accounting Firms * Advertising Agencies * Banks * Import/Export Firms * Brokerage Firms * Insurance Companies * Business Journals / Publishers * Investment Banks * Chambers of Commerce * Labor Unions * Litigation Consulting Firms * Collection Agencies * Manufacturers * Management Consulting Firms * Department stores * Market Research Firms * Economic Development Councils * Environmental Associations * Fundraising firms * Personnel Departments/Agencies *  Economic Research Foundations * Public relations firms * Retailers * Trade Associations * Computer / telecommunications firms * Real Estate Agencies *
Utility companies
 

 

Government
In recent years, economists have begun to displace political scientists and lawyers in top administrative positions in the government.  Recent presidential cabinets have had more economists than any other identifiable profession. Legislation and the issues facing Congress are becoming more complex and economic in nature and as a result Congress is turning to economists to give them advice on these issues.  In the federal government, there are positions for economists in every agency.  A bachelor's degree in economics is a good qualification for an entry-level position but higher positions generally require a graduate degree or promotion from within.  Communication skills are particularly important for government jobs, as well as experience with data and statistical software.

 

Students with an interest in micro policy should consider the following courses in their undergraduate preparation:
Economics 380 - Labor Problems
Economics 401 - Public Finance
Economics 453 - Economics and Ecology
Economics 458 - Urban Economics

 

Students with an interest in macro policy should consider the following courses in their undergraduate preparation:
Economics 338 - Economic History of the United States
Economics 422 - Business Cycles
Economics 490 - Money and Banking

 

Students with a particular interest in international policy, which could include trade, exchange rates, development or economic policy in other countries, should consider the emphasis in International Economics.

 

Typical Employers:
Central Intelligence Agency * Farm Credit Administration * Commerce Department * Federal Deposit Insurance Corp * Commodity Futures Trading Comm. * Federal Reserve Bank * Consumer Product Safety Commission * Federal Trade Commission * Department of Agriculture * General Accounting Office * Departtment of Labor * Internal Revenue Service * Department of Transportation * International Trade Commission * Department of the Treasury * Office of Personnel Management *  Environmental Protection Agency * Securities and Exchange Commission
 

 

Academic
Academic economists teach and do research that adds to our understanding of economics and policy; such research is generally published as papers in academic journals.  Many academic economists also write textbooks and articles for the popular media.  In addition, many engage in consulting for private businesses, government, and the legal profession.  Teaching at the university level requires an advanved degree.  Students interested in pursuing graduate work should consider the Specialization in Quantitative Analysis, take advanced math courses and include the following courses in their undergraduate preparation:

 

Economics 441 - Introduction to Econometrics
Economics 507 - Mathematical Economics

 

The demand for economics teachers in secondary schools is growing.  California requires a one-semester economics course in high school but many of the teachers of these courses do not have a background in economics.  Students interested in acquiring their teaching credential are encouraged to contact the School of Education to find out about certification requirements.
 

Where Can I Get More Information?
The following links have more information on careers for economics majors and general job searches:
SDSU Career Services
SDSU Economics Internships 
Portland State University Career Center
Bureau of Labor Statistics Occupational Outlook Handbook
Monster.com Online Career Center
JobWeb Online Career Center