Economics

Types of Degrees Economics Majors Are Getting

The following table lists how many economics graduations there were for each degree level during the last year for which data was available.

Education Level	Number of Grads
Bachelor’s Degree	35,886
Master’s Degree	5,317
Associate Degree	3,384
Doctor’s Degree	1,385
Graduate Certificate	208
Basic Certificate	42
Undergraduate Certificate	3

What Economics Majors Need to Know

In an O*NET survey, economics majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Economics Majors

Economics majors often go into careers in which the following knowledge areas are important:

• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Skills for Economics Majors

economics majors are found most commonly in careers in which the following skills are important:

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Speaking - Talking to others to convey information effectively.

Abilities for Economics Majors

Some of the most crucial abilities to master while a economics student include the following:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.

What Can You Do With a Economics Major?

Below is a list of occupations associated with economics:

Job Title	Job Growth Rate	Median Salary
Compliance Managers	8.0%	$107,480
Economics Professors	10.9%	$101,480
Economists	6.1%	$104,340
Environmental Economists	6.1%	$104,340
Investment Fund Managers	8.0%	$107,480
Market Research Analysts and Marketing Specialists	23.2%	$63,120
Regulatory Affairs Managers	8.0%	$107,480
Supply Chain Managers	8.0%	$107,480
Survey Researchers	2.1%	$57,700
Wind Energy Project Managers	8.0%	$107,480

Who Is Getting a Bachelor’s Degree in Economics?

This is one of the most frequently chosen undergraduate majors. It is the 15th most popular in the country with 39,397 students graduating with a bachelor’s in economics in 2021. This major attracts more men than women. About 66% of the graduates in this field are male.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of economics majors is as follows:

Race/Ethnicity	Number of Grads
Asian	4,933
Black or African American	1,414
Hispanic or Latino	3,836
White	15,851
International Students	7,059
Other Races/Ethnicities	2,793

Geographic Diversity

Americans aren’t the only ones with an interest in Economics. About 19.7% of those with this major are international students.

Amount of Education Required for Careers Related to Economics

Some careers associated with economics require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to economics have obtained the following education levels.

Education Level	Percentage of Workers
High School Diploma - or the equivalent (for example, GED)	0.9%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	0.7%
Some College Courses	0.1%
Associate’s Degree (or other 2-year degree)	2.6%
Bachelor’s Degree	35.0%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	1.4%
Master’s Degree	23.3%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	3.0%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	1.1%
Doctoral Degree	22.0%
Post-Doctoral Training	0.8%

Online Economics Programs

The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	5	1
Certificate (2-4 Years)	1	0
Associate’s Degree	146	29
Bachelor’s Degree	62	11
Post-Baccalaureate	0	0
Master’s Degree	354	14
Post-Master’s	17	0
Doctor’s Degree (Research)	197	0
Doctor’s Degree (Professional Practice)	1	0
Doctor’s Degree (Other)	0	0

Majors Related to Economics

You may also be interested in one of the following majors related to economics.

Major	Number of Grads
Political Science & Government	46,438
Sociology	33,194
General Social Sciences	17,458
International Relations & National Security	14,086
Anthropology	10,899
Geography & Cartography	7,541
Other Social Sciences	2,069
Urban Studies	1,301
Sociology & Anthropology	552
Archeology	339
Demography & Population Studies	81

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By pixabay under License

More about our data sources and methodologies.