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Academic Advising
What Can I Do With a Major in Economics?
Economics studies the allocation of scarce resources among alternative ends. Consequently, economics majors study problems associated with the distribution of human, physical, and natural resources.
Students wishing to major in economics may earn either a Bachelor of Science in Farmer School of Business, or a Bachelor of Arts degree or a Bachelor of Science degree in the College of Arts and Science. The Business major receives an economics education with a strong background in business functions. The BA major in Arts and Science receives a liberal education with emphasis on general knowledge and culture while the BS degree in Quantitative Economics provides students with a formal background appropriate for graduate school or employment using more technical aspects of business and public policy analysis.
Interests
An interest in analyzing and understanding the relationship between supply and demand as well as how goods and services are produced, distributed, and consumed. Dedication to utilizing this information to analyze practical problems such as business conditions, wage and tax policies and international trade, and to develop theories explaining causes of unemployment and inflation
Competencies
- Research/Analysis
- Designing projects
Organizing ideas/materials
Developing/generating ideas
Adapting ideas
Observing people/data
Computing/analyzing
Testing an idea/hypothesis
Computer knowledge
Statistical capabilities - Financial/Data
- Maintaining accurate records
Tabulating data
Manipulating numerical data
Developing budgets
Cost analysis/projections
Preparing financial reports/statements - Problem Solving
- Evaluating reports/proposals
Assessing needs
Reviewing/evaluating
Defining problems
Application of theory to problems
Quantifying/substantiating
Generating solutions - Communication
- Writing reports/articles
Reading/interpreting relevant reports/statements
Summarizing data
Writing grant proposals
Analyzing data
Sizing up an audience
Speaking clearly
Presenting proposals/reports
Opportunities - Careers
- Banking/Financial
- Commodities/stock broker
Bank management trainee
Financial analyst
Economic forecaster
Wage and salary administrator
Trust administrator
Credit accounting coordinator
Loan counselor
Internal auditor
Securities analyst
Mortgage specialist
Pension funds administrator
Bank examiner - Insurance
- Underwriting trainee
Claims adjustor
Benefits analyst
Sales representative
International insurance broker - Communications
- Technical writer
Educational television producer
Trade magazine writer
Journalist/columnist
Press secretary - Human Services
- Teacher/secondary or college
Higher education administration/researcher
Fund-raiser
Foundation administrator - Government
- Claims examiner/social security administration
Foreign trade analyst
Revenue officer
Tax auditor
Housing development aide
Budget officer assistant
Legislator's assistant
Lobbyist
Regional/urban planner
Foreign service officer
Para legal
Congressional aide - Business
- Management trainee
Sales representative
Travel consultant
Personnel worker
Marketing analyst
Purchasing agent
Public relations/media planner
Manpower planner
Real estate agent
Public opinion pollster
Systems evaluator
Program consultant
Advertising agent
Traffic manager
Customer service representative
Retail manager
Labor trend forecaster
Stock broker
Rate analyst
Portfolio administrator
Contract administrator
Research assistant
Documentation specialist
Service representative
Note: Some of the listed career options may require additional education and/or training beyond the bachelor's degree.
Opportunities - Graduate/Professional School
An undergraduate degree in economics prepares students for graduate study in law, public and business administration, or economics.
Opportunities - Experiential
Summer, volunteer, or part-time work in businesses or governmental agencies; independent study with a faculty member, involvement in the student Economics Club
Sources of Additional Information
- Department of Economics (2054 FSB, 529-2836)
- * Curriculum Requirements
* Career Opportunities - Career Services (200 Hoyt Hall, 529-3831)
- * Career Resource Center
* Career Counseling
* Career Assistance Center
* Computerized Career Development Program
* Dictionary of Occupational Titles
* Occupational Outlook Handbook - Arts and Science Academic Advising (146 Upham Hall, 529-3031)
- * Miami Plan & College of Arts and Science Requirements
- * Course Selection
* Career Decision Making
Developed by the College of Arts and Science Advising Office and the academic departmental offices with adaptations from Liberal Arts and Sciences - Skills - Career Opportunities, Career Planning and Placement Office, University of Michigan.