The economy is a topic that has been dominating the news, especially recently with the question of the stability of foreign and domestic banks. If you are interested in learning about the way finance and the economy influences the way we act and share with one another, or you are interested in predicting and influencing certain financial outlooks, you might want to consider majoring in economics.
Education
According to the College Board, a degree in economics is typically earned at the bachelor’s level. Students who are pursuing this degree typically take courses such as business economics, economic theory, finance, international trade and statistics in college. Econometrics, a course which teaches students to apply statistics to economic models, involves both lecture and lab and requires students to discuss the analysis of economic data as well as practicing and testing theories on actual data.
What to know before you apply
Students who wish to pursue a major in economics should be knowledgable about current economic situations and be up-to-date on all important news information. This includes researching both Democratic and Republican tax plans (especially during an election) and actually working with research data including census facts. When looking into schools to apply to, students should be aware of whether their degree with be a B.S. (Bachelor of Science) or B.A. (Bachelor of Arts) and whether or not they will be able to concentrate their studies in a specific area such as public or private finance. Students should also be aware of club and internship opportunities offered through their school in order to gain crucial experience.
Salary
Economists earned an average of $96,320 per year as of 2009 according to the U.S. Department of Labor. Other related careers include financial analysts and market researchers, earning an average yearly salary of $85,240 and $67,500, respectively.
