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Why study Economics?

Why study Economics?. What do Economics majors learn? What kinds of jobs do they get? How much money do they make?. Economics majors study important real-world problems. Are we in a recession? Will there be enough jobs for college graduates?

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Why study Economics?

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  1. Why study Economics? • What do Economics majors learn? • What kinds of jobs do they get? • How much money do they make?

  2. Economics majors study important real-world problems • Are we in a recession? Will there be enough jobs for college graduates? • How does the Federal Reserve lower interest rates? Will interest rate cuts save the economy? • What happened to the government budget surplus?

  3. Economics majors study important real-world problems • Who should provide airport security: the Federal government or the private sector? • Is Microsoft an illegal monopoly? • Can open-source software survive?

  4. Economics majors learn skills that are valuable in many careers • Critical thinking • Problem solving • Analytical skills • How to use data effectively to prove a point

  5. A degree in Economics gives you many career options • Careers in the private sector • banks and insurance companies • brokerage firms • journalism • labor unions • legal consulting

  6. A degree in Economics gives you many career options • Careers in government • Federal Reserve • Justice Department • Bureau of the Census • Department of Labor • State & local agencies

  7. A degree in Economics gives you many career options • International agencies • World Bank • International Monetary Fund • United Nations

  8. A degree in Economics prepares you for graduate studies Law school: • “Of all the majors, economics ranks in the top four or five consistently year after year for both applications and offers made,” said Edward Tom, director of admissions at the law school at U.C.-Berkeley. • Study: Economics majors get the highest LSAT scores out of all the majors that most commonly apply for law school.

  9. A degree in Economics prepares you for graduate studies MBA: • Yale Business School’s admissions director Richard Silverman said “The best people are more frequently taking economics as their major than they were a decade or so ago.” • A Business Week survey of 5000 M.B.A.s identified economics as the top undergraduate major

  10. Recent UNLV Econ grads now work at: • Morgan Stanley Dean Witter • Hewlett Packard • Board of Governors of the Federal Reserve • Silver State Bank • McCarran Airport • Sybase, Inc. • Nevada Power Co. • Clark County Finance Dept. • U.S. District Judge Owen Panner

  11. Economics majors enjoy higher incomes than many other majors Income of persons with a four-year degree, 1997 Economics $40,000 Average, all fields $35,000 Source: Current Population Survey, 1997, Bureau of the Census

  12. Average income by field of degree (people with 4-year degrees only)

  13. Famous people with a degree in Economics: • Former Presidents Ronald Reagan and George Bush • Senator Phil Gramm • Congressman Dick Armey • Supreme Court Justice Sandra Day-O’Conner • Steve Balmer, Microsoft CEO and Pres.

  14. Famous people with a degree in Economics: • Ted Turner (CNN) • Tiger Woods • Scott Adams (Dilbert creator) • Mick Jagger • Arnold Schwarzenegger

  15. Thank you for your time, and good luck on finals!

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