Bachelor's Degree in Economics | Learn.org

A bachelor's degree in economics teaches students about economic theories, models, and real-world applications. This page will guide you through what an economics degree entails, the core curriculum, steps to earn the degree, potential career paths, and tips on choosing the right program.

What Is a Bachelor's Degree in Economics?

A bachelor's degree in economics focuses on the study of how resources are produced, distributed, and consumed. It combines both theoretical and applied aspects of economics, providing students with a solid foundation in microeconomics, macroeconomics, and econometrics.

Students will explore various economic models and learn to apply quantitative methods to analyze economic data. The program typically includes coursework in economic theory, statistical methods, and elective courses that allow students to specialize in areas such as international economics, labor economics, or public policy.

Graduates are equipped with critical thinking skills, analytical abilities, and a strong understanding of economic principles, making them valuable in diverse career fields.

Economics Core Curriculum

The core curriculum of an economics degree includes fundamental courses designed to provide a broad understanding of economic principles.

• principles of microeconomics: introduction to the behavior of individuals and firms in making decisions regarding the allocation of resources
• principles of macroeconomics: study of the economy as a whole, focusing on issues like inflation, unemployment, and national income
• intermediate microeconomics: advanced analysis of market mechanisms, consumer behavior, and production theory
• intermediate macroeconomics: in-depth study of aggregate economic variables and policies affecting national and global economies
• econometrics: application of statistical techniques to analyze economic data and test hypotheses
• international economics: examination of trade theories, policies, and the impact of globalization
• public finance: analysis of government revenue and expenditure policies and their effects on the economy

Earning Your Economics Degree

Earning a bachelor's degree in economics involves several key steps, each essential to your academic and career success. Here's a detailed guide on what you need to do.

Research Programs

Start by researching various colleges and universities that offer a bachelor's degree in economics. Look for institutions with strong economics departments, renowned faculty, and a curriculum that aligns with your interests and career goals.

Consider factors such as program accreditation, class size, resources, and location. Online reviews and alumni testimonials can also provide valuable insights into the quality of the programs.

Meet Admission Requirements

Once you've identified potential programs, review their admission requirements. Typically, you'll need a high school diploma or equivalent, satisfactory standardized test scores (like the SAT or ACT), and a solid GPA.

Some programs may also require letters of recommendation, a personal statement, or completion of prerequisite courses in math and social sciences. Make sure to gather all necessary documents and meet the deadlines.

Apply

The next step is to apply to the chosen programs. Fill out the application forms accurately and submit all required documents. It's best to apply to multiple schools to increase your chances of acceptance.

Pay attention to application fees and explore fee waiver options if needed. Additionally, consider applying for scholarships and financial aid to help fund your education.

Complete Core Courses

After gaining admission, you'll begin your studies with core courses in economics. The courses will be similar to the ones listed above. These foundational courses provide the essential knowledge and skills needed for advanced study in economics.

Choose Electives

As you progress, you'll have the opportunity to choose elective courses that align with your specific interests and career aspirations. Electives might include:

• international economics
• labor economics
• public finance
• environmental economics

Selecting the right electives can help you specialize in a particular area and make you more marketable to employers.

Complete Internships and Gain Experience

Practical experience is crucial in economics. Many programs offer internships or cooperative education opportunities where you can apply theoretical knowledge to real-world problems.

Internships provide valuable hands-on experience, enhance your resume, and help you build professional networks. Seek opportunities in government agencies, financial institutions, research organizations, or private companies.

Graduate

To graduate, you must fulfill all academic requirements, including completing the necessary credits, passing exams, and maintaining a minimum GPA as specified by your program. Ensure you participate in commencement activities to celebrate your achievement.

How Long Does It Take To Get a Degree in Economics?

Typically, it takes four years of full-time study to earn a bachelor's degree in economics. This timeframe includes completing general education requirements, core economics courses, and elective classes.

Some students may extend their studies to five years if they pursue double majors, minors, or participate in co-op programs and internships. Part-time students, who balance work and study, may take longer to graduate.

Some institutions also offer accelerated programs, allowing highly motivated students to finish in three years. Overall, the duration depends on individual circumstances, academic plans, and institutional offerings.

Career Opportunities for an Economics Degree

An economics degree opens doors to diverse career opportunities. Graduates can pursue roles such as economists, financial analysts, and investment bankers. These positions leverage analytical skills and economic knowledge, offering pathways in finance, government, research, and business sectors.

A few of the top roles you may consider as an economics major include:

• economist
• financial analyst
• policy analyst
• data analyst
• market research analyst
• actuary
• economic consultant
• investment banker
• business consultant
• government advisor

Read more: Is an Economics Degree Right for Me?

How To Choose the Right Degree Program

Choosing the right economics program is crucial for your success. Here are practical tips to help you make an informed decision:

• Accreditation: Ensure the college or university is accredited to guarantee a recognized and respected degree.
• Curriculum: Look for programs that offer a comprehensive curriculum covering both theory and practical applications.
• Faculty: Research the faculty's qualifications and areas of expertise.
• Class size: Consider the student-to-teacher ratio for a more personalized learning experience.
• Resources: Evaluate the availability of academic resources such as libraries, labs, and online tools.
• Internship opportunities: Check if the program provides access to internships or work placements.
• Alumni network: A strong alumni network can help with job placements and career advice.
• Location: Consider the campus location and its proximity to potential employers or economic hubs.
• Cost: Evaluate the tuition and fees, and explore financial aid options.
• Reputation: Research the program's reputation and rankings in economics education.

FAQs About Earning a Bachelor's Degree in Economics

Learn more about earning your bachelor's degree in economics by reviewing the commonly asked questions below.

Is a Bachelor's Degree in Economics Worth It?

Yes, an economics bachelor's degree is worth it for those interested in analytical roles in business, finance, or government. It offers versatile career options and a solid earning potential.

Is an Economics Degree Hard?

An economics degree can be challenging due to its quantitative and analytical nature. However, with dedication and interest, students can excel.

How Much Does an Economics Degree Cost?

According to U.S. News & World Report, the cost of an economics degree varies widely depending on the institution. On average, overall tuition can range from $35,000 to $72,000 per year.

Are There Any Free or Affordable Economics Programs?

Yes, some institutions offer free or affordable online economics programs through scholarships, grants, or online courses.

What Skills Will I Gain in an Economics Program?

In an economics degree program, students will gain analytical skills, critical thinking, quantitative analysis, and a deep understanding of economic principles and models.

What Can I Do With an Economics Degree?

With an economics degree, you can pursue careers in finance, government, consulting, research, and academia, among other fields.

You could also consider entry-level roles such as financial analyst, management analyst, and real estate agent.