What is Economics? Economics is the study of how we work to get the biggest bang for our buck, or how we transform scarce resources into goods and services to satisfy the most pressing of our infinite wants, and how we distribute those goods and services amongst ourselves. Most economists spend at least some of or all of their work day in an office environment, working on projects and research and meeting with clients or coworkers. The stereotype of economists as “stodgy old professors” has undergone an evolution as clients and managers work side-by-side with economists to develop new business opportunities.
A degree in economics gives the best training available in problem-solving and offers lots of opportunities to develop conceptual skills, while also giving you appreciation for the larger driving forces behind social policy. Economics graduates have job opportunities in a variety of areas like public administration, operations analysis, sales, insurance, investment, and financial analysis. Economists are employed in most large business firms, government agencies, and non-profit organizations. Other employment opportunities include teaching, consulting, and research. Many government agencies rely on economists to develop and direct public policies within markets. USA Today, Money, and CNN have all reported that individuals with a Bachelor Degree in Economics and Finance are consistently among the highest paid college graduates in fields outside of engineering.
Problem-solving and critical thinking skills are a necessity, as economics revolves around examining the causes of a problem, analyzing the consequences, and making a sound and reasoned judgment about possible solutions. A familiarity with statistics is very beneficial, as you will need good analytical abilities to interpret what the numbers are saying. You will need to explain this interpretation to your client or manager and help them make informed decisions, so above average written and oral communication skills, as well as good people skills, are also necessary. Good organizational skills, the initiative and drive to complete projects on time, and the ability to work well both independently and as part of a team are especially important for this occupation.
Pathways to Completion
SCC does not have an Economics major. It is recommended that students receive a Business Administration for Transfer and transfer to a 4-year university to major in Economics.