Economics

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Articles on Economics:
    A future in Economics
   Economics Major...A Closer Look
   Explore a Major in Economics

A future in Economics

By Amber Gragert

One of the most prominent life lessons my parents taught me was this: "Life is not all about you. Life is about honoring God through serving others." From the time we are young we are taught to share or take turns with special toys and things there weren't enough of to go around. There are only two sets of crayons but three children, so what do you do? Divide the crayons up and teach the children to make fair trades and/or take turns. It is the most basic lesson in economics.

In Genesis 41 we read that Pharaoh chose a wise and discerning man to oversee Egypt. They decided to save one-fifth of their produce during years of plenty in order to save up a store house in the event of the years of drought. This was an insurance policy of sorts so there was enough food to feed and save his people from starvation. Again, a perfect lesson in economics in none other than God's word. These themes are as old as time itself. Lessons in wise saving, preparing, contentment and human greed. Ecclesiastes 5:10 says, "He who loves money will not be satisfied with money, nor he who loves wealth with his income; this also is vanity." It is just a sinful human trait to not be content with what we have. Thus, we must learn to save, take turns and share as a society otherwise we would live in a world of disorder and/or hierarchies that control us.

According to the American Economic Association, "Economics can actually be defined a few different ways: it’s the study of scarcity, the study of how people use resources, or the study of decision-making." Others might say economics is all about studying societies that have scarce resources, how they produce valuable commodities from those, and then how they decide to distribute these commodities among different people and class systems, etc. Behind these definitions are two key thoughts in economics: A: goods are scarce and B: society must use its resources efficiently.

To quote John F. Kennedy, "Geography has made us neighbors. History has made us friends. Economics has made us partners, and necessity has made us allies. Those whom God has so joined together, let no man put asunder." So, how does society decide who gets what and what is fair in dividing scarce resources among large numbers of people? Well, that is precisely what you will study in your course work.

You will study economics, microeconomics, macroeconomics, currency systems, international economics and so forth. By the time you have finished your degree you will have a solid foundation in all economic principles and theories. It would help immensely and be a good fit for someone with insanely good essay writing and research skills, systemizing, leadership, time management, investigative, detail oriented, good debate skills, analytical, persistence, planning, note taking, team work, precise language in written documents and phenomenal verbal communication skills. You should also know your way around Microsoft Word and Excel programs.

Economics is likely more versatile than a business degree. Economics majors can enter into any realm of business, government, finance, technology and more; whereas, business degrees tend to set you up for more specified roles within the business field. They are not inherently related, so job opportunities are not directly correlated.

Employment opportunities include:

Market Research Analyst

-  Economic Consultant

-  Compensation/Benefits Manager

-  Actuary

-  Credit Analyst

-  Financial Analyst

-  Lawyer

-  Business (News) Reporter

      -  Business Forecaster