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Articles on Economics:
   Major in Economics
    A future in Economics

Major in Economics

Article by Rachelle Wiggins

Whatever work God has allotted to you for this day, year, or decade, do it for His glory with the zeal and diligence that is granted to us through the Holy Spirit. ~Cristos Makridis

Not a day passes by without economic activity—locally, domestically and globally. Turn on the news for five minutes and you will hear about it:  a company’s relocation and the effect on local markets, government “bail out” or shut down, famine in Africa juxtaposed with American obesity or labor activists protesting unethical work practices. Economics is the study of how resources are deployed to meet human need.  Interested in everything from trade to taxation, earnings to employment, production to public policy, an economics major learns to gather, analyze and interpret data in order to predict the impact of investments, industry trends and the forces that drive business so that all levels of economic functioning might be improved.

Students drawn to an economics degree tend to “think in numbers.” Beyond this mathematical bent, there are other important skills needed as well. Not only must an economics major be analytical, detail-oriented and organized, they must be creative as well. It is one thing to see and understand an economic problem; it is another to propose a workable solution!  Once the data is thoroughly scrutinized, it must be translated clearly into a real-world setting. This communication often takes place through report writing and presentation and is the reason why economics majors become “masters of chart and graph.”  It is also the reason why having tech skills is helpful, since the use of analytic and presentation software is par for the course.

So what classes can you expect to take in this business-related degree? Upper-level math, for starters, including calculus, statistics, and classes on microeconomics, macroeconomics, finances and accounting. Beyond this, you will find great diversity in the type of electives offered. Some examples are:

  • Economic Theory
  • Government and Industry
  • Labor Economics
  • Money and Banking
  • Public Finance
  • Regional Economics or International Economics

An economics degree sets you up for ongoing education should you choose that path, as well as for a wide variety of careers in business as well as financial branches of healthcare, education, government or law. Some of the most common career outcomes for this major include:

  • Market Research Analyst--evaluating market trends in order to help products and services retain their greatest value.
  • Economic Consultant--helping businesses improve their success by analyzing industry patterns and economic scenarios. 
  • Compensation and Benefits Manager--working closely with the human resource department of an organization to evaluate pay and benefit options and keep things competitive and fair.
  • Actuary--often tied in with insurance, this career uses statistical skills to determine the likelihood of insurable events like fires and illnesses and creates a risk profile assessment.
  • Credit, Finance or Policy Analysts.  These specializations deal with 1) assessing loan risks; 2) recommending investments, mergers and acquisitions; 3) researching and analyzing financial issues impacting the public.

If God has given you an analytical mind and an interest in the inner workings of all things financial, then it’s possible He wants you to use those talents in one of the above careers. The best way to glorify God in your next life-step could be to choose a college major in economics!