Why Major in Economics:

The economics major is intended for students:

  • who seek the analytical skills and specific knowledge of economic processes necessary to be a responsible citizen;
  • who desire economic understanding as a background for careers in business, labor, politics, law, finance, administration, or public service;
  • who hope to continue specialized studies in economics or business at the graduate level; and
  • who are preparing to teach social studies in the secondary schools. (For certification requirements, see the description under the Education Department.)

For more information about the study of economics, visit the American Economic Association's website devoted to undergraduate and graduate studies in economics.


Why Major in Economics at Goucher:

Click here to read about what a current major has to say about studying Economics at Goucher College. 


Career Opportunities:

Economics majors are successful in a wide variety of careers. Although various roles in businesses are most common, economics majors are successful in law, medicine, government, non-profits, and international relations, as well as in academic roles.

Payscale.com reports its survey of people with Baccalaureate degrees (and no more) who are employed full time, showing starting salaries (typically with two-years of experience) and mid-career annual earnings.  Here are selected occupations for the 2012-13 report.


College Major                

Starting Salary    

Mid-career Salary

Chemical Engineering

$67,500

$111,000

Applied Mathematics

$50,800

$102,000

Statistics

$49,300

$99,500

Economics

$48,500

$94,900

Mathematics

$48,500

$85,800

Finance

$47,700

$85,400

Business

$41,400

$70,000

Political Science

$40,300

$74,700

Advertising

$37,800

$77,100

Sociology

$36,000

$56,700

Psychology

$35,200

$60,200

Source:  http://www.payscale.com/college-salary-report-2013/majors-that-pay-you-back


For more information about career paths and earnings, visit the American Economic Association's career website here.