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;
- desire economic understanding as a background for careers in business, labor, politics, law, finance, administration, or public service;
- hope to continue specialized studies in economics or business at the graduate level; and
- 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 former major had to say about studying Economics at Goucher College.
Interested in a career in Economics?
Check out this video from the American Economic Association.
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 2017-18 report.
|Rank||Major||Degree Type||Early Career Pay||Mid-Career Pay||% High Meaning|
|7||Economics and Mathematics||Bachelor's||$60,000||$122,900||36%|
|10||Electrical Power Engineering||Bachelor's||$68,600||$119,100||70%|
For more information about career paths and earnings, visit the American Economic Association's career website here.