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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 *
Click
here for a more detailed description of
some of these jobs and their connection to
economics.
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 *
Department 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
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