Why study economics?

The number one question I get from students Is why should I major in economics?

Well, today I want to talk to you about the one reason that I think you should major in economics. Unfortunately, it is also the one reason why people do not major in economics. I'm an economist and I love economics; I see it everywhere and I believe our lives would be improved If we all had a better understanding of economics. so today I'm excited to pitch your economics and why you should consider It as a major. Let's talk about the one reason people do and don't major in economics. A question I often get about economics is what do you even do with its people often assume economics. Is about studying money the reality is that economics is broad and includes diverse areas of study you can talk about the inner workings of a country or individual human behavior economics is a study of how we make choices and decisions. When facing scarcity in other words how do you decide on policies when you can't have it all the study of economics teaches you decision-making tools to apply when decisions need to be made teaches you. How to evaluate all available information? The cost, the benefits, and how to eventually land on a decision given that information think about It think about all the places that economics can be used any place where a decision is being made is a place where an economics major can find a job. This is the beauty of economics. It has broad applications so one reason is flexibility while its broad application and diverse career paths are a great selling point. It is also daunting for some students today most of my students want to know exactly what they can do with a major. They want to have a specific job title, that they can apply for so this flexibility is scary to them. They are in search of certainty and I understand that for me flexibility was what attracted me to economics and I wanted to be able to learn a skill set that can be applied in many different industries. The flexibility of economics means that it can allow you to add it as a second major. In most places where I have taught or studied economics degree plans have a lot of room to add courses from other majors.

For Instance, if you're interested in going into government you can pair economics with history policy, international relations, or other humanities majors. If you are more data-driven and interested in a career as a business analyst then consider adding math, stats, or computer science as a second major or any other business major. I want to take a break here for a second to tell you about the econ games the econ games program is designed to provide students with experiential learning opportunities. In data analytics, they also have a summer data camp and many courses to help students learn the skills necessary for careers. In economics with a focus on data check out the website learn more and join the next econ games challenge let us talk about other benefits of being an econ major. According to the American economic association website those taking the last economics, majors scored the highest followed by philosophy, then engineering. So, if you're thinking about law school consider economics as major students always want to know about pay you might not be money motivated but many people are so how do econ majors fare? In the labor market according to payscale.com, early career economics majors make 60000 roughly which is ranked in the top three of all major’s average mind-career earnings for economics majors is roughly 130 or 140 000 the increase from early career to mind-career is likely due to the range of job economics graduates can get. So, if you're picking a major because of the money then consider economics, if you're picking a major because of the flexibility and the number of industries you can be part of then. Pick economics if you're interested in learning more about graduate school and economics or have more detailed questions reach out. I would love to talk to you about the question of the day do you know anyone that majored in economics? What did they do today?