by our College Data Analytics TeamEconomics is the study of production, distribution, and consumption of goods. This is a vast and interesting subject that affects every person in society. Your classes will examine how a society chooses to spend their time and money, including how money is spent in government as well as household finances. Other subjects involve methods of buying and selling, inflation, and interest rates. Mathematics and statistics are important areas in this major.
Courses you can expect to see in Economics are statistics, accounting, calculus, business economics, developmental economics, economic theory, microeconomics, macroeconomics, money and banking, economic history in the United States, and international trade.
You may be able to choose a concentration in this major. Examples of some of the specializations available are Applied Economics; Econometrics and Quantitative Economics; Development Economics and International Development; and International Economics.
Studying Economics covers Economics. Read on to learn the essential details every economics student should know — including career paths, salary data, the skills you will develop, and the best colleges offering economics programs.
Across the country, economics is a widely-pursued major, with 45,628 degrees awarded annually.
Our 2026 Best Economics Schools ranking analyzes these 826 schools to determine the best overall colleges for economics students. Continue reading to check out one of our many unbiased rankings of economics programs later in this article.
Coursework for Economics build a specific mix of skills, knowledge, and abilities — derived from O*NET surveys of workers in the occupations economics graduates commonly enter.
Students should have an interest in business and economics and not be afraid of a math-heavy course load. You will use critical thinking skills to study the allocation and distribution of scarce resources, as well as logic and reasoning to solve complex problems, analyze data and observe patterns. Mathematical formulas and statistics will help you research data and come up with predictions of future trends.
In addition to sharp mathematical abilities, students will also need good communication skills in order to clearly explain your work in presentations and reports. Your findings should be presented in a way that makes it easy for those outside the subject to understand. Collaboration with peers will help you gain different approaches of solving a problem.
Skills developed in a economics program reflects the day-to-day work of related occupations:
Per O*NET surveys, a economics major emphasizes the following knowledge areas:
There are several economics degree levels. The table below shows the typical length of the most common levels, and how many graduates earn each one.
| Degree | Typical Program Length | Graduates Annually |
|---|---|---|
| Certificate | Varies | 1 |
| Associate Degree | 2 years | 4,406 |
| Bachelor’s Degree | 4 years | 34,393 |
| Master’s Degree | 1-3 years | 5,419 |
| Doctorate | At least 4 years | 1,409 |
People currently working in careers related to economics tend to have obtained the following education levels.
| Level of Education | Percentage of Workers |
|---|---|
| Bachelor’s degree | 39.8% |
| Doctoral degree | 28.2% |
| Master’s degree | 13.5% |
| Associate’s degree (or other 2-year) | 4.9% |
| Post-master’s certificate | 3.6% |
| High school diploma or equivalent | 3.2% |
| Some college courses | 2.2% |
| Postsecondary certificate | 2.1% |
| Post-baccalaureate certificate | 2.1% |
| Post-doctoral training | 0.3% |
| First professional degree | 0.1% |
See the chart below to get an idea of what level of education most of those in economics careers hold.
Source: ONET Online education / training / experience requirements.*
Graduates with a degree in Economics are prepared to work as economists in a variety of positions researching and providing data for government organizations or private companies. Obtaining a Master's degree or Ph.D. may make you more competitive in the field; however it is not required for many positions.
A degree in economics can lead to numerous career paths. Below are some of the most common occupations related to economics.
The following options are some of the most in-demand careers related to economics.
| Occupation | Projected Jobs | Expected Growth |
|---|---|---|
| Economics Teachers, Postsecondary | 830,747 | 2.9% |
| Market Research Analysts and Marketing Specialists | 671,367 | 10.3% |
| Business Intelligence Analysts | 585,851 | 1.3% |
| Secondary School Teachers, Except Special and Career/Technical Education | 571,954 | 1.8% |
| Data Scientists | 507,848 | 8.1% |
| Managers, All Other | 468,025 | 6.2% |
| Compliance Managers | 310,203 | 13.0% |
| Statisticians | 307,132 | 6.6% |
Federal data tracks median earnings of economics graduates 1, 4, and 5 years after completion. Wages typically rise as graduates gain experience.
| Years Out | Median Earnings |
|---|---|
| 1 year | $56,270 |
| 4 years | $74,609 |
| 5 years | $87,950 |
Source: U.S. Department of Education College Scorecard, field-of-study earnings tracker.
Salaries for economics graduates vary widely by occupation. The following table shows the top highest-paying careers economics grads often go into.
| Occupation | Median Annual Salary |
|---|---|
| Wind Energy Development Managers | $169,952 |
| Loss Prevention Managers | $165,723 |
| Business Intelligence Analysts | $143,840 |
| Statisticians | $130,349 |
| Market Research Analysts and Marketing Specialists | $124,518 |
| Wind Energy Operations Managers | $122,567 |
| Biostatisticians | $121,594 |
| Compliance Managers | $117,178 |
With 826 different economics programs to choose from, finding the best fit can be a challenge. We have analyzed these schools to produce unbiased economics school rankings to help you.
Those considering economics, you may also want to explore other closely related fields of study within the same broad area.
| Major | Annual Graduates |
|---|---|
| Econometrics and Quantitative Economics | 22,727 |
| Economics, General | 21,627 |
| Development Economics and International Development | 375 |
| Applied Economics | 368 |
| International Economics | 281 |
| Economics, Other | 250 |
| Related Major | Annual Graduates |
|---|---|
| Political Science and Government | 44,942 |
| Sociology | 31,380 |
| Social Sciences, General | 17,510 |
| International Relations and National Security Studies | 13,035 |
| Anthropology | 10,768 |
| Criminology | 10,365 |
| Geography and Cartography | 7,105 |
| Social Sciences, Other | 1,942 |
| Urban Studies/Affairs | 1,343 |
| Sociology and Anthropology | 496 |
More about our data sources and methodologies.
