The study of economics helps develop a logical, consistent and disciplined method of thinking about the world and its problems. The economist's way of thinking is an ideal preparation for a variety of pursuits after graduation.
Because of its broad applicability, a bachelor's degree in economics provides an excellent set of career-entry skills. Indeed, according to the 1998-99 Occupational Outlook Handbook, economics job openings are expected to grow "as fast as the average for all occupations through the year 2006" and "in virtually every industry."
According to the handbook, the 1997 average salary offer for a new graduate was $31,300 per year, with a median new entrant salary of about $35,000. The overall overage salary for all economists with a bachelor's degree was $60,000.
A bachelor's degree in economics also is an excellent degree in preparation for advanced study. For example, a significant part of the curriculum in M.B.A. programs is based on economics. Similarly, many law school deans believe that economics, because of its systematic method of analyzing and solving problems, is one of the best backgrounds for the study of law. An undergraduate major in economics also can lead to the pursuit of a graduate degree in economics and commensurately enhanced career possibilities.
econwiz@milkweed.econ.stthomas.edu