15 Jobs You Can Get in the Military With an Economics Degree

Economics majors study the macroeconomic and microeconomic systems that affect money-related public policies in nations. These students use financial analysis to inform decision-making and problem-solving.

These skills are generally associated with governmental and private sector roles around budgeting and financial planning, but many career opportunities within the armed forces can benefit from training as economists. Some of these positions will benefit directly from economic-based training while others will see more of a benefit from the theories and skills, such as critical thinking.

Top Military Careers for Economics Degree Holders

Graduates of economics degree programs can pursue multiple career paths in the armed forces. Most of these positions will only require a bachelor's degree instead of a more advanced degree, like a master's degree. Branches select individual requirements. However, most positions for economics graduates will be similar across branch lines.

1. Financial Management Officer

The Army, Air Force, Navy, and Marine Corps have bases around the world. Financial management officers are responsible for monitoring and managing financial programs at these bases. FMOs are financial analysts working to ensure that budgets are followed, funds are properly allocated, and aid in financial planning.

2. Budget Analyst

Budget analysts review budgets to ensure that the budget is being followed and if there needs to be changes. Graduates of economics programs receive special training in looking at larger economic systems and making informed decisions for budgets and financial planning.

3. Logistics Officer

Logistics officers serve a valuable role within the armed forces. These coordinators run supply chain management for bases and other locations. This role will require knowledge of local pricing, suppliers, and cultural norms for overseas locations. Macroeconomics students study global econometrics and how they impact the availability of goods and other supplies.

4. Strategic Planner

Strategic planners in civilian roles help businesses execute larger plans and strategies. Economic students who complete undergraduate or graduate programs will be beneficial for consulting in the quantitative monetary portion of military strategy.

5. Policy Analyst

A combination of an economics degree and military service can lead to working with the Department of Defense to analyze policies for their impact on individual branches. These roles will look at the economic impact on budgets and strategy.

6. Intelligence Analyst

Economists train skills related to computer science and data analysis that make them valuable assets in intelligence analysis. These analysts study and collect data to analyze threats and develop plans to deal with them. This role can have some financial components, but the skills learned while studying economics will be applicable.

7. Risk Management Specialist

Risk management is generally used to describe the possible negative impacts associated with a financial action for a business or nonprofit. However, risk management principles extend to all risks, including developing military strategies. Economists can use critical thinking skills and operations research developed in college or graduate school to inform their decision-making processes.

8. Strategic Development Specialist

Strategic development specialists work as a bridge between financiers and organizations. The American armed forces don't consult with the same kind of financial institutions as a business or nonprofit does. However, there are still liaison-style roles to coordinate with bases around the world and government organizations located in America.

9. Contracting Officer

Contracting officers monitor contractual agreements between entities, such as the armed forces and independent service providers. These contracts include financial components best understood by people with formal training in economics. The role of a contracting officer can include analyzing contracts between government agencies and third-party organizations.

10. Procurement Specialist

Acquiring the supplies needed to run a military base or unit doesn't require an economics degree, but the advantages of an economics grad can't be ignored. The military relies on understanding international supply chains that can be affected by many factors. Economics, like the other social sciences, includes studying the political components of supply chains.

11. Economic Analyst

Economic analysts study the economic systems that affect individual bases and the military. This role is similar to a data scientist because there is analysis of large quantities of data, but instead of looking simply for trends within the data, economic analysts take this data and use it to predict the correct actions in international markets.

12. Resource Management Officer

No military unit can operate without proper resources. A resource management officer works with senior officers to ensure all resources are allocated for a mission. Resource managers coordinate with logistics officers and local suppliers to acquire supplies needed for both short-term plans and long-term strategies.

13. Military Instructor

The individual branches of the military have service academies. These academies generally hire instructors with military experience to teach the next generation of officers and leaders. The job market for these instructor roles is more limited than general academia. Having a college degree and military experience will make you a good candidate in the eyes of recruiters for these roles.

14. Administrative Officer

Within the military, there are positions for business administration that work with actuaries and economists. These roles work in the Department of Defense, Veterans Affairs, and other agencies to assist other departments in everything from budget and financial analysis to facility maintenance.

15. Research Analyst

Economists look at trends in data and market research. These skills can be applied to research analysis in different capacities. Macroeconomics looks at global economic systems and involves understanding how different countries and political systems are. Sometimes this research will be directly related to economic research, while other research will benefit from related skills.

What Are the Benefits of an Economics Degree in the Military?

Two main types of benefits come with an economic degree and serving in the military. Both are related to the skills that come with studying economics. Economic skills are good for planning budgets and resource allocation in long-term military strategy. These skills can be learned from other degree programs, but they are the core curriculum of economic studies.

The biggest advantage of an economic degree is the skills associated with risk management, critical thinking, and data analysis. Economics majors study these skills through the lens of economics, but these skills can be applied to many other parts of military service, including general strategy.

Economics is a social science and studies the systems in place that affect the military, both the American economy and international ones.