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WHAT CAN I DO WITH A MAJOR IN... ECONOMICS www.sc.edu/career ec·o·nom·ics The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems.* *"economics." The American Heritage® Dictionary of the English Language, Fourth Edition. Houghton Mifflin Company, 2004. 24 Jul. 2009. <Dictionary.com http://dictionary.reference.com/browse/economics>. Economics Majors Study • The ways people make a living • Production, distribution, and consumption of goods and services • The use of scare natural resources • Unemployment and inflation as they relate to government policy and the economy • Costs versus benefits in developing business strategies and plans of action ...And more Economics At The University Of South Carolina The University of South Carolina offers undergraduate degrees in economics through two of its colleges. College of Liberal Arts Course work for the Bachelor of Arts or Bachelor of Science degree in Economics focuses on humanities and the social sciences. A minor is also available. Moore School of Business Coursework for the Bachelor of Science in Business Administration in Economics focuses on principles of business. In addition, the Moore School of Business offers the Master of Arts (MA) in Economics as well as the Doctor of Philosophy (Ph.D). Economics Degrees Develop Skills In • designing surveys and planning methods for collecting data • gathering data about economic conditions, customer product preferences, and income levels • recording findings in detail • using mathematical and statistical methods to interpret data • explaining complex theories in oral and written presentations • giving investment advise and predicting shifts in the economy • explaining complex theories Employment • Economics is the study of how effectively society meets its human and material needs. It provides a logical, ordered way of looking at various problems. It draws upon history, philosophy, and mathematics to deal with a wide range of problems. • As a result, economics is widely recognized as a solid background for many jobs and professions in business, consulting, education, government, and law. Employment Settings • Business & Commerce: Includes management and direction of forprofit organizations including the development of business plans, marketing strategies, product development, human resource management, and actuary work. Sample Occupational Titles Associated With Business & Commerce • • • • • • Actuary Auditor Bank Officer Bond Trader Business Manager Compensation Administrator • Consumer Affairs Director • Efficiency Expert • Industrial Buyer • Labor Relations Specialist • Loan Officer • Property Manager • real Estate Broker • Sales Manager • Underwriter Employment Settings • Consulting: Includes historical, political, and socio-economic research; population and market surveying, social/cultural impact assessments of building and development, assessing policy and services, and constructing alternative business models. Sample Occupational Titles Associated With Consulting • Demographer • Business Forecaster • Chamber of Commerce Analyst • Commodity-Industry Analyst • Cost Analyst • Financial Economist • Financial Planner • Institutional Research Director • Litigation Analyst • Management Consultant • Market Research Analyst • Populations Studies Analyst • Statistician Employment Settings • Education: Includes classroom instruction, curricula development, research, writing, administration, program management, and lecturing. Teaching and research positions at colleges and universities require an advanced degree. Most other teaching positions require appropriate certification. Sample Occupational Titles Associated With Education • • • • • • • • • Administrator Admissions Evaluator Author/Writer Career Counselor College or University Professor Financial Aid Director Guidance Counselor Health Educator Lecturer • • • • Math Instructor Primary School Teacher Program Manager Secondary School Economics Teacher • Student Affairs Professional • Test Developer • Text Writer Employment Settings • Government & Law: Includes development, implementation, and analysis of public, domestic, and international policy, advancement of individual, group, and consumer rights. Also includes the management of government programs, especially those associated with economic development. Sample Occupational Titles Associated With Government & Law • • • • Consumer Advocate Campaign Manager City Manager Community Relations Director • Congressional Aide • Elected Official • Economic Development Coordinator • • • • • • Foreign Service Officer Intelligence Agent Labor Organizer Legal Assistant Lobbyist Social Service Administrator • Policy Analyst • Political Pollster TOP 10 Occupations That Employ Persons With Only A Bachelor’s Degree In Economics 1 2 3 4 5 6 7 8 9 10 Top and mid-level managers, executives Insurance, securities, real estate, business services Accountants, auditors, other financial specialists Sales (including retail) Low-level managers Other marketing and sales occupations Other service occupations (except health) Agriculture, forestry, fishing and related occupations Other administrative (ie. record clerks) Construction trades, miners, well drillers, etc. Source: Fogg, N.P, Harrington, P.E. & Harrington, T.F, (2004). College Majors Handbook (2nd ed). Indianapolis, IN: Jist Publishing. Strategies For Developing Skills To Get The Job You Want • Pursue an excellent academic record • Acquire statistics and computer skills • Develop good writing and oral communication skills • Learn to concentrate and work independently • Obtain a graduate degree to achieve specialization promotion, or advancement (especially MBA or law) • Gain experience through an internship, part-time or summer job Strategies For Developing Skills To Get The Job You Want • Take courses in business, political science, sampling theory, survey design and computer science • Become a student member of professional organizations • Develop strong analytical skills • Develop a strong business, math, and consumer needs orientation • Gain sales and bookkeeping experience • Acquire a business or language minor • Learn to work as a member of a team Books And Web Resources Books Job choices in business 2009 – None Careers in business – by Lila B. Stair Web Resources National Congress for Community Economic Development – http://www.ncced.org/ National Economic Association – http://www.neaecon.org/inde x.htm Resources For More Information Economics Department http://mooreschool.sc.edu/moore/economics/ Career Center Library http://www.sc.edu/career/Library/library.html Related Websites http://www.sc.edu/career/la/economics.html CAS Career Development Website www.sc.edu/career/cascdp/ Career Center Contact Information University of South Carolina Career Center 6th Floor, H. William Close Building (BA Building) Columbia, SC 29208 Phone: 803-777-7280 On-call counseling without an appointment: M - F, 1:00 am - 4:00 pm (Summer and holiday hours may differ, please check the website at www.sc/edu/career)