Economists study how scarce resources can be efficiently allocated to produce the maximum number of goods and services. Economists conduct research, collect and analyze data, monitor economic trends and develop forecasts.

They apply economic theory to endeavors such as banking, finance, manufacturing, education, law, international trade, labor, insurance, agriculture, health, criminal justice, energy, natural resources and telecommunications.

The field of economics provides a framework for analyzing and solving problems that arise from scarcity. Public issues—inflation, unemployment, budget deficits and environmental pollution, for example—as well as individual and business decision-making, are examples of the economist's work.

Visit the Department of Economics website

Degree Requirements

Includes: foundation courses required for Professional Admission*, general education requirements, professional core courses, free electives and a set of Business Economics Courses.

Sample Economics Courses/Topics:

* Students must achieve Professional Admission (a competitive and selective application process) to move from the pre-professional phase to the professional phase. 
** Check the Degree/Academic Progress Report (APRR's) for your specific academic program requirements per the catalog.

Other Preparation

The college has a wide variety of professional fraternities, honoraries and student clubs. Student organizations offer: career information; networking opportunities with alumni, corporate representatives, faculty and fellow students; social and professional activities; and provide leadership roles and skills building opportunities.

Student organizations for economics majors include the Economics Society.

Visit the Eller Undergraduate Student Organizations website for more information.

Additional Opportunities

Students are able to gain certificates in the following areas:

Students can reach out to their advisor for more information

Career Opportunities

Given the analytical nature and diversity of the discipline, economics provides a solid background for many jobs and professions. The study of economics also offers excellent preparation for advanced education in business, law, economics, finance, public policy, international relations and medicine.

Economists work in government, business and education.

• Government economists monitor and assess economic conditions and provide economic analysis to guide governmental programs and policies.
• Business economists provide the analysis required to make optimal decisions in all major aspects of business activity.
• Academic economists, in addition to teaching conduct research and may act as consultants to business and government agencies.

A bachelor's degree in economics is sufficient for many entry-level research, administrative, consulting and management trainee jobs. However, to work as an "economist" one generally has to have an advanced degree. Candidates for a graduate degree in economics should have a strong mathematics background with courses in differential, integral and vector calculus, linear algebra, differential equations, statistics and econometrics. Graduate training is required for some positions and for more rapid advancement.

Since Finance is a sub-field of Economics many students pursue a career in finance. Opportunities include:

View PDF of Types of Jobs and Employers

Employment Outlook

According to the Bureau of Labor Statistics, the demand for economists should grow by 6 percent from 2014-2024. Prospects improve for bachelor's degree recipients in economics who go on to earn advanced degrees: law or MBA or PhD in economics, for example. If you are planning to pursue an advanced degree in economics, it is recommended that you take as much advanced math as possible.

Salaries

Starting salaries vary by size and type of employer, location, and experience. The median noted below is from the National Association of Colleges and Employers (NACE).

• National mean starting salary, Economics: $74,523 (Spring 2023 - NACE)

Recruitment Opportunities

Economics graduates obtain jobs through various avenues, leading to placements with a wide range of firms and organizations. On-campus recruitment opportunities include the fall & spring Eller Expo and Career Showcase, hosted by the Eller College, and the fall & spring "Career Days", hosted by UA Student Engagement & Career Development.

A sample of employers that hired Eller Business Economics majors for full-time placement in Spring 2016 through the Eller Professional Development Center: