Who Should Consider a Major in Economics?
What Is Economics?
Economics is the study of the way society uses its limited resources to produce the goods and services that it needs. Whether we are talking about a firm deciding where to locate a business, individuals deciding where to invest their money, or the federal government deciding whether to balance the budget, each is faced with the problem of making a decision about the best use of limited resources. Economics provides a logical method of analyzing the trade-offs involved in the decision-making process. Economists conduct research to determine the costs, benefits and consequences of using and distributing resources in a particular manner.
Careers in Business and Industry
About one-third of all economists are employed in private industry. They are hired by manufacturing firms, banks, insurance companies, securities and investment companies, transportation companies, economic research firms, and management consulting firms. These economists may be asked to:
Provide management with information to make decisions on the marketing and pricing of company products and services.
Look at the feasibility of adding new lines of merchandise, opening new branches or diversifying the company's operations.
Analyze the effect upon the company of changes in tax term laws and government spending patterns and programs.
Prepare forecasts of the company's sales, profits, inventories and human, physical and financial resource needs.
Careers in Government
Approximately one-third of all Economists are employed by government at all levels: federal, state and local. The federal, state and local. The federal government is the single largest employer of Economics in the United States. For government work, Economics has proved to be a superior major to Business Administration. Economists who work for the government assess national economic conditions and the economic impact of actual and proposed policies, programs and legislation. Government Economists often specialize in such fields as Transportation, Banking and Finance, Labor, Agriculture, Urban Economics, Industrial Organization and International Trade.
Careers in Transportation
Goods and people are moved every day by trucks, buses, airplanes, ships and other means of transportation. In the United States, the transportation industry represents an area of rapid growth and opportunity. Qualified individuals with degrees in Transportation Management or Economics who understand the dynamics of transportation are needed to plan, supervise and implement policies.
Industrial and consulting firms, transportation companies and Federal, state and local governments all hire Transportation Management and Economics graduates. The positions available include inventory control, warehouse and materials management, rate determination, dock supervision, transport service marketing, route development, scheduling, policy analysis, planning and the management of urban and rural transportation systems.
Careers in Law
Most universities offering a law degree have indicated that it is impossible to recommend an exact list of courses which will be ideal for persons who intend to enroll in Law School. However, it has been discovered that most students who enter law School have two conspicuous deficiencies; (1) inability to write and/or speak clearly and correctly and (2) independent thinking with exactness of thought in making valid analytical comparisons and differentiations.
The program in the Department of Economics is flexible enough to allow Economics majors to use their electives to pursue courses which will enable than to acquire the necessary knowledge to overcome the deficiencies cited above. It is indisputable that Economics is perhaps one of the best disciplines in which students can develop analytical thoughts with precision and exactness.
What Is Economics?
Economics is the study of the way society uses its limited resources to produce the goods and services that it needs. Whether we are talking about a firm deciding where to locate a business, individuals deciding where to invest their money, or the federal government deciding whether to balance the budget, each is faced with the problem of making a decision about the best use of limited resources. Economics provides a logical method of analyzing the trade-offs involved in the decision-making process. Economists conduct research to determine the costs, benefits and consequences of using and distributing resources in a particular manner.
Careers in Business and Industry
About one-third of all economists are employed in private industry. They are hired by manufacturing firms, banks, insurance companies, securities and investment companies, transportation companies, economic research firms, and management consulting firms. These economists may be asked to:
Provide management with information to make decisions on the marketing and pricing of company products and services.
Look at the feasibility of adding new lines of merchandise, opening new branches or diversifying the company's operations.
Analyze the effect upon the company of changes in tax term laws and government spending patterns and programs.
Prepare forecasts of the company's sales, profits, inventories and human, physical and financial resource needs.
Careers in Government
Approximately one-third of all Economists are employed by government at all levels: federal, state and local. The federal, state and local. The federal government is the single largest employer of Economics in the United States. For government work, Economics has proved to be a superior major to Business Administration. Economists who work for the government assess national economic conditions and the economic impact of actual and proposed policies, programs and legislation. Government Economists often specialize in such fields as Transportation, Banking and Finance, Labor, Agriculture, Urban Economics, Industrial Organization and International Trade.
Careers in Transportation
Goods and people are moved every day by trucks, buses, airplanes, ships and other means of transportation. In the United States, the transportation industry represents an area of rapid growth and opportunity. Qualified individuals with degrees in Transportation Management or Economics who understand the dynamics of transportation are needed to plan, supervise and implement policies.
Industrial and consulting firms, transportation companies and Federal, state and local governments all hire Transportation Management and Economics graduates. The positions available include inventory control, warehouse and materials management, rate determination, dock supervision, transport service marketing, route development, scheduling, policy analysis, planning and the management of urban and rural transportation systems.
Careers in Law
Most universities offering a law degree have indicated that it is impossible to recommend an exact list of courses which will be ideal for persons who intend to enroll in Law School. However, it has been discovered that most students who enter law School have two conspicuous deficiencies; (1) inability to write and/or speak clearly and correctly and (2) independent thinking with exactness of thought in making valid analytical comparisons and differentiations.
The program in the Department of Economics is flexible enough to allow Economics majors to use their electives to pursue courses which will enable than to acquire the necessary knowledge to overcome the deficiencies cited above. It is indisputable that Economics is perhaps one of the best disciplines in which students can develop analytical thoughts with precision and exactness.
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