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Don Macklemore, the Director of Industry Relations and Economic Development at Georgia Southern University, tells students how to prepare for a career in economics.


Economics

Peter M. and Paula Green Johnson Career Center

Economics and Business Economics

Summary

Economics is the science of how trade links human motives to social order. With a degree in economics or business economics you will be able to think, in a logical way, about your own personal decisions and world affairs - a mind-set you can use your entire life. When our students graduate with a degree in economics or business economics not only will they be equipped with refined professional training, but they will also have polished problem analysis and management skill needed inside and outside of the business sphere.

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Degree Requirements

Economics (non-business)

  1. 39 completed credit hours for the University Studies Program
  2. 30 completed credit hours for a major in Economics
  3. 51 completed credit hours of Free Electives

Business Economics

  1. 39 completed credit hours for the University Studies Program
  2. 33 completed credit hours for the Common Body of Knowledge
  3. 24 completed credit hours for a major in Business Economics
  4. 24 completed credit hours of Free Electives

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Academic Engagement

As an AACSB accredited school, the College of Business houses a wide variety of professional fraternities and student clubs. The Wyoming Beta Nu Chapter of the professional fraternity Alpha Kappa Psi, located in BU 162, is the premiere fraternity for business professionalism. This fraternity is open to all students in any major who is wishing to build their professional network and transition easily into their respected career. Much like other professional fraternities, Alpha Kappa Psi has a large student engagement and provides unique networking opportunities, career events, and fundraising events to increase student - employer interaction.

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Professional Opportunities

Economics is a field of study that requires perfected data analysis and problem solving skills. As a highly analytic field, career opportunities demand that students be well equipped to handle high pressure and fast paced environments. Many economics majors recieve employment opportunities in the state, local or federal government, although they also recieve jobs outside of the federal sphere. The University of Wyoming provides the general business skill foundation and rigor that can be used in high-paying jobs to help our students be able to be among the top 1% of earners.

Here are a couple of career highlights:

Economists

Economists study the general trends and the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues. Most economist positions require a candidate to have a master's or PH.D.; although, some jobs, specifically within the federal government, open positions to workers with a bachelor's degree.

The current job outlook is expected to grow 14 percent from 2012-2022. Most employers will be looking for candidates with a master's degree or Ph.D. and individuals with strong analytical skills and related work experience (Occupational Outlook Handbook: 2015).

Market Research Analysts

Market research analysts study market conditions to project the potential sales of a product or service. They are responsible for helping companies understanding the market, products people want, who will buy them, and what for what price. Many market research analysts need at least a bachelor's degree; however, possessing strong math and analytical skills is essential.

The current job outlook is expected to grow 32 percent from 2012-2022. The employment growth will be driven by an increased use of data and market research across all industries, to understand the needs and wants of consumers, and to measure the effectiveness of marketing and business strategies (Occupational Outlook Handbook: 2015).

Financial Analyst

Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments. Most financial analysts must have a bachelor's degree; however, it is not uncommon for a candidate to possess a master's degree to obtain advanced positions.

The current job outlook for financial analysts is expected to grow 16 percent from 2012-2022 because a growing range of financial products and the need for in-depth knowledge of geographic regions is projected to lead a strong employment growth (Occupational Outlook Handbook: 2015).

Policy Analyst

Policy Analysts study political systems. Those who work for the government usually create policy and evaluate the program's effectivness. Although their tasks vary daily, policy analysts typically work in one of four main categories: collecting information, analyzing potential policies and making recommendations, evaluating the outcomes of existing policies, and sharing information with the public and government officials. For most policy analyst positions, a masters degree is required; although, a PhD is required for more advanced positions (Bureau of Labor Statistics: 2007).

The current job outlook for policy analysts is expected to grow 21 percent from 2012-2022. There will only be approximatley 1,400 jobs opening up within that time period and as a result one should expect a high level of competition for each opportunity (Villanova University: 2015).

Other Options

For further career exploration visit, What Can I Do With This Major? This excellent resource helps students find employment related to their area of study.

You can also explore the Bureau of Labor Statistics' publication, the Occupational Outlook Handbook, for other career options, statistics, and information concerning specific career paths.

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Employment Outlook

The Bureau of Labor Statistics, who also authored the Occupational Outlook Handbook, has project that there will be a 12.5 percent growth rate for business and financial operations between 2012-2022. It is recommended that economics and business economics students continue their education to the master's degree or Ph.D. level to obtain more advanced positions.

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Salaries

Starting salaries will vary depending on the size and type of employer, location, coursework, and experience.

  • UW undergraduate 2014 average starting salary: $47,856.14
  • National undergraduate 2014 average starting salary: $49,022.00 (NACE Salary Survey/ January 2014).

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Don Macklemore, the Director of Industry Relations and Economic Development at Georgia Southern University, tells students how to prepare for a career in economics.


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