What Can I Do With a Major in Economics

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What Can I Do With a Major in Economics?

• Sarah Griffith, Intern
• Syracuse University

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So Studying Economics Means?

• Economics is the study of individual and
  collective decisions that relate to the
  production, consumption, and exchange of goods
  and services.
• Economic majors learn analytical and critical
  thinking skills about markets, business
  decisions, consumer choices, urban economies,
  labor issues, public expenditure programs and tax
  policies, as well as the macro performance of the
  economy, and the operation of the economy in a
  global setting. Students in this major study to
  pursue careers in business, government,
  international relations, law, public
  communication, and public policy.
• Career Exploration Services Major Insights 2005
  2006
• Emphasis Added

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Economics Department Definition

• Economists analyze the internal functioning of
  markets and market outcomes. While modern
  economics focuses on market forces, markets
  function imperfectly in some cases and that
  introduces scope for policy action. There is an
  emphasis on the application of economics to the
  study of public policy issues and the role of
  government in a market economy. Examples include
  analysis of international trade and relations,
  economic behavior in the workplace, health care,
  taxation, and numerous other spheres of a global
  economy.
• Undergraduate Course Bulletin 2006 2007
• Emphasis Added

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So How is Economics Beneficial?

• Basically a major in economics is influential
  because students learn skills that are useful in
  a variety of settings. Economic issues are
  important in virtually every occupation.
• The economics degree is flexible, that is, there
  are many career paths available to economics
  majors.
• Economics undergraduates attract most business
  employers since they are trained to recognize
  human behavior in relation to work, production,
  and consumption. This is the fundamental
  operation of most businesses.
• Emphasis Added

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So is This Major for Me? Yes If Youre
Interested In

• Research/Analysis
• Designing projects, generating/developing ideas,
  organizing materials, computing data, analyzing
  results, testing ideas, using computers, applying
  statistical methods, finding mathematical
  solutions
• Communication
• Writing reports/articles, summarizing, writing
  proposals, reading and interpreting
  reports/statements, speaking persuasively,
  explaining ideas/goals, justifying your position
• Problem Solving
• Assessing needs, defining problems,
  reviewing/evaluating goals, relating theory to
  practice, projecting/forecasting results,
  applying quantitative analysis, generating
  solutions, evaluating policies
• Financial Analysis
• Maintaining accurate records, tabulating figures,
  manipulating numerical data, developing budgets,
  performing cost/benefit analyses, creating and
  evaluating financial reports/statements

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So What are Some Skills Ill Need?

• Ability to gather data and employ various
  analysis techniques
• Capacity to write clear, concise technical
  reports and essays
• Critical Thinking
• Understanding of quantitative analysis
• Ability to analyze and communicate analysis
  results
• Capable of recognizing behavior in relation to
  work, production, distribution and consumption
• Interest in conducting, analyzing, and presenting
  research
• Understanding of statistics and computers

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SoWhere Do I Start?

• Get Involved!
• Try on campus activities
• Syracuse Economics Club
• http//www.maxwell.syr.edu/uec/
• Get volunteer experience
• Use summer jobs
• Consider a double major
• Secure internships
• Work with professors
• Career Services, 235 Schine
• Student Center!
• Work with mentors

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Sample Fields for Economics Majors

• Business
• Observe economic behavior in the workplace
• Financial planning, investment analysis
• Government
• Cost Analysis, Intelligence
• Public Administration, Urban Planning
• International Relations
• Foreign trade analysis
• Law
• Critical analysis of taxation
• Labor economics
• Teaching
• Colleges, Universities
• Secondary private and public schools

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What are some Job Titles?

• Sales Analyst
• Investment Analyst
• Investment Administrator       
• Foreign Trade Analyst
• Market Research Analyst
• Customer Profit Analyst
• Population Studies Analyst
• Profit Investment Coordinator
• Strategic Planner
• Cost Determinations Economist
• Planning and Program Analyst
• Journalist
• Benefits Coordinator
• Economic Forecaster
• Insurance Agent
• Commodities Trader
• Bank Research Analyst
• Financial Researcher
• Policy Analyst

• The possibilities are
• ENDLESS!

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OK So where do I get Further Information?

• Center for Career Services
• 235 Schine Student Center
• 443-3616
• Print Resources
• Faculty or professional advisors
• Mentor _at_ S.U. database
• Web Resources and Professional Associations

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Helpful Websites

• American Economics Association
• http//www.vanderbilt.edu/AEA/
• [phone]
• National Economics Association
• http//www.neaecon.org/index.htm
• kgyimah_at_coba.usf.edu - President
• International Economics Association
• http//www.iea-world.com/
• iea_at_iea-world.org
• American Association of Finance and Accounting
• http//www.aafa.com/
• [phone]
• American Bankers Association
• http//www.aba.com/default.htm
• 1-800-BANKERS

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Steps to Consider for Graduate School

• Do I need to go?
• GRE Prep
• Finding the right program
• Choosing a school
• Applying and actually submitting application
• Visiting campus
• Personal Statements
• www.bridges.com/ct
• Contact Career Services for logon information
• What is Plan B in case this doesnt work out?

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Questions?
Yes? No?