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Call (651) 690-6577

Welcome to the Economics department website! This traditional liberal arts major emphasizes development of analytical abilities, and is excellent preparation for graduate study in law, business administration, international relations or the social sciences. The department offers majors in economics, financial economics, and International Business and economics. Alternate programs may be designed by students interested in special concentrations in economics and business administration or economics and political science. With careful planning, a student can also design a double major in economics and another area of her choice.

What is Economics?

Economics studies how society distributes scarce resources such as land, labor, raw materials, and machinery to produce goods and services. Economists conduct research, collect and analyze data, monitor economic trends and develop forecasts.

What are the skills necessary to be an Economist?

Economists use their understanding of economic relationships to advise businesses and other organizations, including insurance companies, banks, securities firms, industry and trade associations, labor unions, and government agencies.

Economists use mathematical models to help predict answers to questions such as the nature and length of business cycles, the effects of a specific rate of inflation on the economy, or the effects of tax legislation on unemployment levels.

Economists devise methods and procedures for obtaining the data they need. Preparing reports, including tables and charts, on research results is an important part of an economist's job.

What kind of career can I have with a major in Economics?

Economics majors are found in a wide variety of careers after graduation. Economics is an approach to decision making that is valuable throughout "the ordinary business of life." While there may be fewer female economists in society, there is evidence that women do well in economics when it comes to salaries. Economics is first in a list of the top five annual earnings by college-educated women aged 35-44. The average salary for women in Economics is $49,170. Economics is followed by Engineering at $49,070, Pharmacy at $48,427, Architecture at $46,357, and Computer Science at $43,757.

There are three types of Economists:

Business Economists:
As a Business Economist, one could choose to work in manufacturing, mining, transportation, communications, banking, insurance, retailing, investment, or other types of organizations.

Government Economists:
Many economists are hired by Federal, State, and Local governments. They serve a wide variety of positions involving analysis and policy making.

Academic Economists:
Some economics majors go on to post-graduate studies in economics. Many of these become academic economists (Professors).

Check out this resource about "after college" options:

http://www.aftercollege.com/groups/ccenter.asp?fct=1&ID=513555795

Economics Department:

To Contact the Department:
Call (651) 690-6577
Email: dshikha@stkate.edu