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How Can Economics Help Me in my Chosen Career?

(This information is from Vassar College.)

The training you receive in economics will not merely enhance your educational experience, it will also make you more attractive to prospective employers and graduate programs. Employers and graduate schools seek individuals who have completed a college or university program of study that includes exposure to economic analysis and quantitative reasoning.

Many students enter graduate and professional programs. Economics provides an excellent foundation for graduate study in a number of disciplines, including: public policy, international studies, law, business, and economics.

The discussion below outlines how courses of study in Economics can facilitate employment in your desired career upon graduation, as well as provide a superior preparation for graduate study.


Getting a Job after Graduation

Economics is one of the best preparations for a career which can be entered with a Bachelor's degree. In addition to economic consulting work in both the private and public sectors, employment prospects in government, journalism, administration, sales, finance, investment banking, and venture capital are enhanced with an Economics degree. Work in these fields requires superior analytical ability, so one's employment prospects will be further improved by supplementing study in economics with skills in statistics, mathematics, and computer science.

Increasingly, business schools emphasize both previous work experience and a broad, well-rounded liberal arts education at the undergraduate level. Hence, many individuals receive their undergraduate degree and work for two years before entering an MBA program.


Law School

While there is no single best course of undergraduate study to prepare for law school, economics has proven to be a popular and effective preparation for a career in the law.

Regardless of whether one chooses to declare a major in economics,including several pertinent economics courses in one's undergraduate education provides excellent preparation for law school. In particular, the analytical methods of economic analysis develop the critical thinking skills necessary for success in law school. Moreover, certain legal specialties, such as antitrust law and tax law, require familiarity with economic models of imperfect competition and methods of quantitative analysis.At a minimum, students interested in attending law school are strongly encouraged to complete the introductory courses in Economics. Interests in particular legal specialties can be served by taking additional field-courses in economics. Regardless of one's undergraduate major, admissions committees at law schools often view applicants with substantial training in economics and formal analytic and quantitative reasoning very favorably. All students planning to attend law school should keep this in mind when designing their programs of study.


Graduate Programs in Public and International Affairs

For students who want to become involved in public policy and international affairs, there are many Master's and Ph.D. programs in public policy, international relations, and government.The range of employment opportunities open to graduates of such programs includes: policy-making at the federal and state level; strategic planning for multi-national corporations; and consulting for international agencies.

Most Master's and Ph.D. programs of this type encourage prospective enrollees to work for a couple of years in government, public service, or for an agency involved with public programs before applying to a graduate program. Work experience provides exposure to the actual work one will be doing after receiving the graduate degree. It also allows the graduate program to do a more effective job of training the student, and demonstrates one's commitment to pursuing a career in this area.

Students interested in graduate study in public or international affairs should construct a program with courses offered in Economics, Political Science, International Studies, Geography, History, and foreign languages. Most of the top graduate programs in these disciplines require applicants to have completed two introductory courses in economics, as well as a course in statistical analysis. Hence, undergraduate training in economics prepares a potential public policy student well.


Graduate Programs in Economics

A major in economics at the undergraduate level is virtually essential for admission to a graduate program in economics. In addition, graduate schools require undergraduate training in mathematics. A useful guide to graduate programs in economics is entitled Guide to Graduate Study in Economics and Agricultural Economics in the United States of America and Canada. The guide is published by The Economics Institute. Students interested in graduate study in Economics should consult this guide, along with faculty members in the Department of Economics, to determine which programs are best suited to your abilities and interests.

 

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