What Can You Do With an Economics Degree?

An economics degree leads to careers in finance, banking, data analysis, consulting, insurance, government and policy research, and business roles in pricing, strategy and operations. It is also strong preparation for law school, an MBA or a PhD. The major is respected for its analytical rigor; graduates who add data and programming skills tend to have the widest set of choices.

What an economics major trains you to do

Model problems: simplify a messy situation into the parts that matter.
Think about cause and effect: tell correlation from causation, a skill many employers find rare.
Work with data: statistics and econometrics, often using a programming language such as R or Python.
Think in trade-offs: costs, incentives and what people do when rules change.
Explain numbers: turn analysis into a recommendation a manager can act on.

Where economics graduates start

Financial analyst: budgeting, forecasting and investment analysis at companies and banks. The finance degree guide covers this lane.
Data or business analyst: one of the most common paths. See how to become a data analyst.
Consulting analyst: researching problems and building recommendations for clients.
Research assistant: at research institutes, government agencies and economic consulting groups, often a step toward grad school.
Government analyst: some agencies hire economists and analysts with a bachelor’s, especially if you took statistics and econometrics.
Insurance and risk: underwriting, and actuarial work for those willing to pass a series of professional exams.
Pricing, sales operations and strategy roles: inside companies of all sizes.
Accounting: possible with added coursework; see how to become an accountant.

When you need graduate school

Economist: many jobs with “economist” in the title, especially in research, require a master’s or PhD. A PhD in economics is math-heavy, so take extra math, such as linear algebra and real analysis, if you are considering it.
Public policy master’s: for policy analysis and government leadership.
MBA: most useful after several years of work.
Law: economics graduates do well in law school, especially in business and regulatory law. See how to become a lawyer.

Before committing, read should I go to grad school?. The Bureau of Labor Statistics Occupational Outlook Handbook describes economists, analysts and actuaries in detail.

Economics or business?

Economics is more theoretical and analytical; business is more applied, with courses in marketing, management and accounting. Employers hire both for many of the same entry-level roles. Choose the one whose classes you would rather take for four years. Our business degree guide and how to choose a major can help you decide.

How to stand out before you graduate

Learn a programming language for data, and build two or three small projects with public data you can show.
Get very good with spreadsheets, since almost every analyst job uses them daily.
Pursue a junior-year summer internship. In finance and consulting, recruiting for these often starts early, sometimes in the fall of junior year or before.
Work as a research assistant for a professor, especially if grad school is a possibility.
Build a network through informational interviews and a solid LinkedIn profile.

Worries economics students bring up

“I am not a math person.” Undergraduate economics uses calculus and statistics, and it gets more mathematical in upper-level courses. Many students do fine with steady practice. Grad school is where the math really climbs.

“I missed early recruiting.” Fine. Plenty of good analyst jobs hire in senior year and after graduation, especially in government, insurance, research and mid-size companies.

Out of school and not sure what is next

Pick two job titles, such as data analyst and financial analyst, and study a dozen postings for each.
Fill the most common skill gap you see with a short course and one portfolio project.
Apply to mid-size companies and public agencies, not just the best-known names.
Prepare for technical questions and case-style interviews; see job interview prep.
Track every application and follow-up weekly. Our senior job search guide has a system.

Where a mentor helps

A mentor helps economics students plan coursework around their goals, stay on top of early recruiting timelines, build data projects and stay accountable through applications and interviews. Mentors are not admissions counselors, credentialed career counselors or financial advisors. See mentoring for college students and career and education mentoring.

Common questions

Is economics a good major?

Yes, for students who like analysis and data. It leads to finance, consulting, government and data roles, and prepares you well for law school, an MBA or a PhD.

Can I become an economist with a bachelor’s?

Some government and research roles hire bachelor’s graduates as analysts, but many economist positions require a master’s or PhD.

What skills should economics majors learn?

Statistics, a programming language for data such as R or Python, and strong spreadsheet skills, plus the ability to explain findings clearly.

Is economics harder than business?

It is usually more mathematical and theoretical. Business is more applied, and both lead to many of the same entry-level jobs.

Get started

Majoring in economics and want help planning internships and a first job? Call (888) 305 5422, email contact@blackburnmentoring.com or start with a short assessment. A member of our team reviews every assessment personally and sets up a free intro call.

What Can You Do With an Economics Degree? Careers and Paths