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> Department of Agricultural Economics and Economics > Undergraduate Programs
The Economics Major
 Individuals, business firms and governments face daily decisions about how to allocate scare resources. The choices are extensive and range from which career to seek, workers to hire, goods to produce and policies to implement. Economics is the study of this critical decision-making behavior. It is a mode of thinking and reasoning with widespread application.
The skills that employers value most highly are the ability to think critically and carefully, the ability to learn new skills and the ability to solve problems. Some vocations may require very specific skills (for example, knowledge of a particular computer software package). However, skill requirements change over time. The need for people who can think, learn and solve problems is timeless. Economics hones these time-honored abilities.
Our Economics major is offered through the College of Letters and Sciences.
We offer training in:
• economic development
•  environmental policy and natural resource economics
• industrial organization
• international economics and trade
• labor economics
• money and banking
• public policy analysis
• statistics and econometrics
Economics Major Requirements
Economics Minor Requirements
WHAT DO ECONOMISTS DO?
 Economics majors pursue a wide variety of careers after graduation. Students with a bachelor's degree in economics are often employed in the financial, retailing, and industrial sectors of the economy. Economics majors also work in such diverse fields as actuarial science, elementary and secondary education, journalism, investment banking, securities analysis, corporate finance, insurance, law, politics, and environmental regulation, as well as in government and academia. Graduate schools regard a degree in economics as excellent preparation for advanced work toward a degree in law as well as a Ph.D. in a number of social science fields such as economics, international relations, and political science. Economics is also an excellent undergraduate major for students seeking an MBA. W hat you can do with an education in economics is unlimited!
JOB OPPORTUNITIES
 According to the Bureau of Labor Statistics,1 economists and marketing research analysts held about 70,000 jobs in 2002. Employment of economists and marketing research analysts is expected to grow faster than average through 2102. Globalization, competition, and increased reliance on quantitative methods for analyzing the current value of future funds, business trends, sales, and purchasing should spur demand for economists. Indeed, the growing need for economic analyses in virtually every industry is expected to result in additional jobs for economists in all sectors of the economy.
PLACEMENT OF RECENT MAJORS
Our majors have found employment in a wide variety of areas. In addition, several have chosen to use their economics degree as a foundation for advanced study. A sampling of the placement of some of our recent graduates includes:
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Harvard Law School
 University of Michigan Law School
Harvard's John F. Kennedy School of Government
U.S. Bank, CO
Continental Management, CA
Columbia Financial Center, OR
United States Air Force
GMAC Refinancing, MN
Wells Fargo Financial, MT
Washington Mutual Inc., WA |
EARNINGS
According to the latest census data, economists are among the top-20 paid occupations, ranking higher than statisticians, physicists, financial analysists, management analysis, and marketing and sales managers in median earnings. The median annual salary of economists in 2002 was $68,550. The average annual salary of economists working in the federal government in 2003 was $81,852.2 As shown in the table below, economics majors are among those with the highest average starting salaries among recent graduates of MSU.
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Starting Salaries of MSU Graduates |
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Average Starting Salary for class of 2001
and 2002 BA/BS graduates at MSU: |
$31,000 |
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| Major |
Starting Salary |
|
Major |
Starting Salary |
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| Economics |
$37,000 |
|
Sociology |
$26,000 |
| Computer Science |
$40,000 |
|
Civil
Engineering |
$38,000 |
| Biological Sciences |
$25,000 |
|
Elementary Education |
$25,000 |
| Architecture |
$32,000 |
|
English |
$25,000 |
| Psychology |
$21,000 |
|
Mathematics |
$24,000 |
| Earth Sciences |
$34,000 |
|
Business |
$31,000 |
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Source: Montana State University Career Services, 2001 values were
adjusted up
for inflation to be comparable to 2002 values. |
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Our recent students say...
"Great instuctor, was always interesting and willing to help."
"A person learns more than just economics in this course."
"I learned valuable information for my life."
"[The professors] taught on all levels of learning."
"Got me thinking in new ways."
"[This training] will help as the years go on."
"This class opened my eyes and helped me realize why I am in college—to learn."
"I liked being shown a new way to look at the world and the problems in it."
"Makes you think for yourself."
"This is what I came to college for." |
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OUR FACULTY
Faculty members in the Department of Agricultural Economics and Economics have expertise in a wide variety of fields.  We teach undergraduate courses in general applied economic theory, economics and the environment, international economics, money and banking, labor economics, industrial organization, economic development and comparative economic systems. We take an active interest in our majors, and each major is assigned a faculty member who serves as the student’s advisor. The one-on-one contact with faculty in our department is consistently given high praise among our students.
1Occupational Outlook Handbook, 2004-05 edition, http://www.stats.bls.gov/oco/home.htm
2BLS Occupational Outlook Handbook 2004-05 edition.
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