What do Economists do?
Economists hold jobs in business, government and academia. Why do businesses need economists? First, economics are trained to think analytically and critically to solve complex problems. Second, economics is a social science, and as such economists are trained to recognize human behavior in relation to work, production, distribution, consumption, and the fundamental operations of most businesses.
Economists are also hired by state, local and federal government agencies and nonprofit agencies. The duties of a government economist are diverse and in large part depend on the particular government agency, for example, if you worked for the EEOC (Equal Employment Opportunity Commission) you would respond to complaints of discrimination, analyze data and help lawyers with the interpretation of data.
What Have Merrimack Graduates Done with their Economics Degree?
Our former students hold positions in all sectors of the economy, business, financial, government agencies, and nonprofits. Some students went on to earn graduate degrees in Economics, MBA’s, MA’s and Law Degrees. Many went immediately into the labor force, and some began successful firms of their own. Here are some examples of positions held by former students in the Economics Department - Senior Project Financial Analyst, Strategic Programs Specialist, CEO’s, CFO’s, Data Analysts, Bank Manager, Vice President of Marketing, Bank Examiner, High School Economics Teacher, Attorney, Statistician, Professor of Economics, and Peace Corp Volunteer.
What do students with Bachelor Degrees in Economics earn?
The American Economics Association reports the following:
A Wall Street Journal article estimated average starting salaries by discipline for 2008. (Anjali Athavaley, “For Class of ’08, A Scramble of Jobs,” Wall Street Journal, April 8, 2008, D1, 3.) Economics came in fourth among 16 majors at $43,419. Above economics were computer programming, and mathematics with engineering at the top with $49,707. Accounting was just below economics at $42,104. Management Science was seventh at $40,592 followed by finance and marketing.
MSN.careers reports somewhat different average starting salaries by college major for 2008. MSN reports a survey by the National Association of Colleges and Employers that puts the mean starting salary for economics majors in 2008 at $52,926, compared to computer science at $56,921 and marketing at $43,459.