If you wish you had known more before this economic recession hit and you find yourself brainstorming ways out of this mess, then perhaps pursing a Business Economics major is for you! At an economics college, you'll learn about many aspects of business, management, finance, marketing and corporate planning, in addition to the money management issues of today. The majority of people working in applied economics hold positions as forecasters, analysts, market researchers, government workers and client support personnel.
Students should have a good understanding of math, politics and business. People often choose this major because they want a good job, they want to make a lot of money, they want to be a manager or CPA, they want to have a secure job or they want to get into a good graduate school.
To get approved by a grad school's department of Economics, you'll need to take a GRE test, get a few letters of recommendations from economists and write an essay discussing what areas of economics you're interested in, what papers you've read on the topics and what questions you'd like to explore further. You don't necessarily need a specific thesis proposal, but you want to sound professional, determined and passionate about basic economics. You should get a critique on your essay from someone in your undergrad economics department to ensure it sounds intelligent and hits on the right topics. GRE scores also matter a lot in your acceptance. These examinations should be taken no later than October, but the sooner the better. Your admissions application will not even be considered until your test results are in.
Many Business Economics majors go onto law school. Economics research shows that the economics majors consistently scored highest on the LSAT throughout the nineties. This is important because for every point scored on the LSAT, grads earn an additional $2,600 in salary their first year out of law school. Additionally, a 1998 Wall Street Journal article quoted UC-Berkeley admissions officer Edward Tom as saying, "Of all the majors, economics ranks in the top four or five consistently year after year for both applicants and offers made."
Upon graduating with a degree in Business Economics, one may work in government, business or education. People with four-year bachelor's degrees can get hired in many entry-level administration, consulting and management trainee jobs. Yet, those who wish to pursue a career as an actual "Economist" should pursue a Master's or PhD degree. Getting an advanced degree with as much math and accounting as possible is the best way to stand apart from the competition. According to the Bureau of Labor Statistics, the demand for someone with a degree in economics is projected to grow 7.5% by 2016.
Individuals with a degree in Business Economics have been recruited by employers like the California State Controller's Office, Cerner Healthcare Information Technology, Coca-Cola, Consolidated Graphics, Deloitte Services LP, Edward Jones, Enterprise Rent-A-Car, Ernst & Young LLP, General Mills, Inc., Insight, JPMorgan Chase & Co., Liberty Mutual Insurance Group (MA), Medix Staffing Solutions, PetSmart, Raytheon, Sherwin-Williams, Travelers Insurance and Wells Fargo Financial. The economics field is expected to grow 7% by 2016, adding another 16,000 workers. People with bachelor's degrees can get almost any entry-level job in business. Master's degree holders generally compete for sales and management trainee positions. Those who hold PhD degrees often go on to teach or become top market analysts in their fields.
Unlike undergrad, the department of Economics in grad schools looks to cultivate the best and brightest talent. Most students are granted a fellowship, assistantship, grant, tuition remission or monthly stipend to cover the cost of the program and living expenses. Be aware that you'll be required to do a lot of dirty work for your money, like grading, teaching, lecturing, leading weekly section meetings, researching and writing. If a lot of students are admitted, then you may still need to pay or seek NSF grants on your own. The good news is that, after all their hard work, 99% of graduate students get placed into applied economics positions right out of grad school.
Students should have a good understanding of math, politics and business. People often choose this major because they want a good job, they want to make a lot of money, they want to be a manager or CPA, they want to have a secure job or they want to get into a good graduate school.
To get approved by a grad school's department of Economics, you'll need to take a GRE test, get a few letters of recommendations from economists and write an essay discussing what areas of economics you're interested in, what papers you've read on the topics and what questions you'd like to explore further. You don't necessarily need a specific thesis proposal, but you want to sound professional, determined and passionate about basic economics. You should get a critique on your essay from someone in your undergrad economics department to ensure it sounds intelligent and hits on the right topics. GRE scores also matter a lot in your acceptance. These examinations should be taken no later than October, but the sooner the better. Your admissions application will not even be considered until your test results are in.
Many Business Economics majors go onto law school. Economics research shows that the economics majors consistently scored highest on the LSAT throughout the nineties. This is important because for every point scored on the LSAT, grads earn an additional $2,600 in salary their first year out of law school. Additionally, a 1998 Wall Street Journal article quoted UC-Berkeley admissions officer Edward Tom as saying, "Of all the majors, economics ranks in the top four or five consistently year after year for both applicants and offers made."
Upon graduating with a degree in Business Economics, one may work in government, business or education. People with four-year bachelor's degrees can get hired in many entry-level administration, consulting and management trainee jobs. Yet, those who wish to pursue a career as an actual "Economist" should pursue a Master's or PhD degree. Getting an advanced degree with as much math and accounting as possible is the best way to stand apart from the competition. According to the Bureau of Labor Statistics, the demand for someone with a degree in economics is projected to grow 7.5% by 2016.
Individuals with a degree in Business Economics have been recruited by employers like the California State Controller's Office, Cerner Healthcare Information Technology, Coca-Cola, Consolidated Graphics, Deloitte Services LP, Edward Jones, Enterprise Rent-A-Car, Ernst & Young LLP, General Mills, Inc., Insight, JPMorgan Chase & Co., Liberty Mutual Insurance Group (MA), Medix Staffing Solutions, PetSmart, Raytheon, Sherwin-Williams, Travelers Insurance and Wells Fargo Financial. The economics field is expected to grow 7% by 2016, adding another 16,000 workers. People with bachelor's degrees can get almost any entry-level job in business. Master's degree holders generally compete for sales and management trainee positions. Those who hold PhD degrees often go on to teach or become top market analysts in their fields.
Unlike undergrad, the department of Economics in grad schools looks to cultivate the best and brightest talent. Most students are granted a fellowship, assistantship, grant, tuition remission or monthly stipend to cover the cost of the program and living expenses. Be aware that you'll be required to do a lot of dirty work for your money, like grading, teaching, lecturing, leading weekly section meetings, researching and writing. If a lot of students are admitted, then you may still need to pay or seek NSF grants on your own. The good news is that, after all their hard work, 99% of graduate students get placed into applied economics positions right out of grad school.
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