The study of economics prepares students for a wide variety of careers in both economics and related disciplines. The Department of Economics focuses on applied microeconomics that provides a broad background for careers in many areas, including urban economics, health care analysis and management, public administration, economic analysis and consulting, as well as banking and finance. Economics also provides an excellent background for postgraduate study in a variety of careers, including law, health care, and related disciplines such as international studies and economic development.
Today the average salary of economists is $70,000. Students with only a bachelors in economics earn an average of $49,000. Government forecasts see continued growth in the profession. An economic education is an asset for life.
There are a variety of career choices for economic majors. Economists hold business, government, and academic positions. The President of UofL is an economist. Besides being an excellent background for many career choices, students specializing in economics have a wide choice of advanced studies in economic theory and its application. Problem-solving skills are learned that are important in both the private and public sectors.
Economics is also an extremely practical field, and a major in economics is an excellent launching pad for careers in business, government, and the law, as well as for specific areas in education, journalism, foreign service, consulting and politics. The analytical skills of an economics major are very useful also in the public and private sectors.
Undergraduate students of economics learn to apply economic models and theory to a mix of government policy and private business problems. Going beyond the Bachelor’s level is becoming increasingly important and is mandatory for high-level and academic careers in economics.
All Departmental faculty, our Reinhardt Academic Advising Center, and the staff of the Ulmer Career Management Center are helpful resources to assist students in making career decisions. This includes course selection, internship and co-op recommendations, and elective course selection to provide the best possible undergraduate preparation.