What it is
Economics is the study of how people, businesses, and societies allocate scarce resources — analyzing markets, incentives, policy, and the forces that drive the economy. It blends social science with quantitative rigor and opens doors across business, finance, policy, and data.
What you'll study
Economics is analytical and increasingly data-heavy:
- Year 1–2Micro- and macroeconomics, calculus, statistics
- Year 2–3Intermediate theory, econometrics, and math
- Year 3–4Fields (labor, finance, development, behavioral) and a research project
Concentrations & focus areas
- Financial / Business EconomicsMarkets & firms
- Econometrics / DataQuantitative analysis
- Public / Policy EconomicsGovernment & policy
- Labor EconomicsWork & wages
- International / DevelopmentGlobal economics
- Behavioral EconomicsDecision-making
Skills you'll build
- Analytical reasoningRigorous thinking
- Quantitative skillsEconometrics & math
- ModelingUnderstanding systems
- Critical thinkingEvaluating policy & markets
- DataIncreasingly central
Careers & job titles
- EconomistResearch & analysis (~$115,730)
- Financial / data analystFinance & data
- Policy analystGovernment & think tanks
- ConsultantAdvisory
- Business / market analystCorporate
- Researcher / professorWith graduate study
Job outlook & demand
The BLS projects economists to grow faster than average. Beyond the (credentialed, often graduate-level) economist role, the degree's analytical and quantitative skills feed finance, consulting, data, and policy — where demand is broad.
Pay: median, range & trajectory
Per the U.S. Bureau of Labor Statistics, economists had a median around $115,730 (a master's/PhD-level occupation). Economics graduates also enter finance and analytics roles, where pay is strong; the degree's quantitative rigor is prized.
Degree levels it's offered at
Offered across these levels — click a level to learn about it:
A bachelor's is the standard entry; a master's (often an MBA) accelerates advancement into management and leadership.
Is it right for you?
You might thrive here if you like working with people and organizations, are practical and results-oriented, and want a flexible degree with clear advancement.
Edge: business rewards internships, analytics skills, and a concentration — and the MBA is a well-worn path to leadership.
Explore further
Keep exploring:
Key facts
- FocusResource allocation, markets, incentives, policy
- StudyMicro, macro, econometrics, math
- CareersEconomist, analyst, policy, consulting, finance
- OutlookFaster than average (BLS)
- Pay~$115,730 (economists, BLS)
Where to learn more
Authoritative sources for careers and pay: