Economic Theory Emphasis
Advising Information
Advisor: Katrina Nye
Office: Business 615
Phone Number 435.797.2290
Email: trina.n@usu.edu
Why choose a degree in economic theory emphasis?
The economic theory emphasis is designed for students who are interested in preparing for graduate studies in economics or agricultural economics and for students who are preparing for a career that requires training in quantitative economic analysis.
What types of jobs are available to those with a degree in economics?
The important thing to understand about finding a job with an economics degree is that employers are less interested in whether you have a specific skill, like being able to find the intersection of the supply and demand curve, than they are in the package of skills that people with economics degrees have. (Secret: most of the skills which people use on the job they learn on the job.)
An undergraduate degree in economics trains you to "think critically" about a variety of complicated situations. For example, in intermediate microeconomics you learn about elasticity of demand. This theory illustrates how price setting for firms is more complicated than just "raise price to increase profits" – sometimes this strategy will lower profits. Learning about elasticity is not only useful because it is an important business concept but also because it teaches problem solving skills. Economics students also learn how to figure out what the right questions to ask are about business situations, solve problems, work with numbers, and a variety of other skills.
– Vascellaro, J. (2005, July 5). The Hot Major for Undergrads is Economics, Wall Street Journal.
What this means is that employers know that if they want someone who is a good thinker and who is going to be able to learn the specific job skills which they need, then they should hire an economics major. This is why statistics show that average starting salaries for students with economics majors are even higher than those with business majors.
Many jobs in business do not require students to have a business degree or a major in a specific field like accounting.
Employers are happy to hire students with undergraduate degrees in economics. They are often looking for good mathematics skills, good writing skills, ability to use a word processing program such as Word and a spreadsheet program such as Excel.
Job titles for economics in business include any kind of "analyst" or "consultant" title, "economist," "research assistant," and others. Economics majors can also apply for entry level positions in business as long as there isn’t a specific requirement to know marketing or some other skill which an economics major without a dual major might not learn.
A number of government agencies and government–related organizations (for example, the FTC, the Bureau of Labor Statistics and the Federal Reserve Banks) like to hire students with economics degrees to do many types of work. These jobs often involve doing research on programs which either are in place to find out how well they are working or evaluating different options for a new program being considered. In many cases, people with undergraduate degrees in economics will be a part of a team of researchers, some of who have graduate degrees.
Job titles for economists in government include "economist," "research assistant," and others. Employers will be looking for skills which are similar to those needed for business.
Degree path in economic theory emphasis:
An internship is recommended to gain experience in the field. Internships provide excellent contacts that can be used in finding employment upon graduation. While in school quantitative skills can be strengthened by taking additional courses in statistics and mathematics. Along with textbooks, the Wall Street Journal should be read for awareness of current events, especially those that involve economics issues.
Student Experiences
"I have loved the undergraduate economics program at Utah State. The classes are challenging but manageable. The professors are personable and have been willing to help any time I have asked. There is such a wide variety of courses to choose from, it feels like my major was tailored to fit me. Upon completion of this program; I feel like I will be marketable. I have confidence that my understanding of economics will be advantageous in any field of employment."
Darci Farnes
"The economics program at Utah State is truly exemplary. Students are challenged to answer economic questions heuristically and apply economic theory to real-life problems. The professors are committed to the success of each student and are all willing to work with students outside of the classroom. I have been able to work one-on-one with professors on interesting research projects and even my own research. I feel thoroughly prepared for any business or research career and graduate work in law, business, or economics."
Mike Bailey