Economics

What is Economics?

Economics is the study of how individuals and societies choose to produce, distribute, and consume scarce resources. Although microeconomics, also known as price theory, is based on the economic behavior of small economic units such as consumers, workers, savers, firms and markets, it deals with some of the most important social issues of our times. Examples include healthcare and insurance, environmental protection, employment, labor unions and wages, and other hot topics such as energy, taxation, and housing. Macroeconomics, on the other hand, deals with the behavior of the aggregate economy and considers topics such as inflation, national income, and growth. 

Is a Career in Economics Right for You? 

What is economics? What do economists study, and why is it important? If you are considering a major in economics, then this information from the American Economic Association (AEA) can help you decide if economics is right for you.

What Kinds of Jobs are Available with a Degree in Economics?

Are you interested in a business career that utilizes the economics you have learned, but you aren’t sure what kinds of jobs are available?  The AEA also has information regarding careers here.

How do I find a Career in Economics?

Ready to start your search for jobs in economics? A great place to find career opportunities is the NABE Business Economics Career Center.

How Much Should I expect to Make with a Degree in Economics?

The US Bureau of Labor Statistics, Occupational Outlook Handbook (online in 2023) reports annual wages for economists. For economists of all educational levels, the median earnings in 2023 were $115,730 with $62,520 at the tenth percentile and $216,900 at the 90th percentile. Learn more about what you could expect to make with a degree in economics from the AEA.