undergradly.
Major · Social Sciences

How markets, incentives, and policy decisions actually work

Economics, General studies the production, allocation, and conservation of resources under scarcity — covering micro- and macroeconomic theory, money and banking, international trade, and quantitative methods. Nearly 19,000 degrees are awarded annually across more than 800 colleges. Five-year median earnings for bachelor's completers run about $84,293.

Schools offering
804
Annual completions
18,920
Typical degree level
Associate's + Bachelor's
Median earnings (5yr)
$84k

About this major

Economics, General is formally defined as the systematic study of how resources are produced, conserved, and allocated under conditions of scarcity — and the organizational structures that emerge around those processes. In practice, the curriculum covers micro- and macroeconomic theory, quantitative analytical methods, money and banking, international economics, and applications to public policy. Students spend time building and stress-testing models, interpreting data, and working through the logic of how individual decisions aggregate into market and national outcomes. The quantitative load varies by school, but expect statistics and some econometrics regardless of institution.

The major rewards students who find systems thinking engaging — people who want to understand why prices move, what shapes employment levels, or how trade policy affects wages. Unlike sociology or political science, economics leans heavily on formal modeling; comfort with mathematical reasoning is not optional in the upper division, even in programs that don't brand themselves as quantitative.

Career outcomes branch depending on degree level and whether you pursue graduate education. With a bachelor's, the most accessible destinations include management roles (median wage $136,550), research support positions ($58,040), and secondary education ($64,580). The formal economist title — at $115,440 — typically requires a master's degree. About 18,920 economics degrees are awarded annually across 804 colleges, making this a moderately scaled major well-distributed across institution types.

Section 3 · Careers

Where this major leads

Occupations most often associated with this major, from the federal BLS+O*NET crosswalk. Job-growth projections and median wages are national.

Occupation Median wage Job growth Typical education
Managers, all other $137k +4.5% Bachelor's degree
Secondary school teachers, except special and career/technical education $65k -1.6% Bachelor's degree
Social science research assistants $58k +4.4% Bachelor's degree
Economists $115k +1.2% Master's degree
Economics teachers, postsecondary $120k +2.1% Doctoral or professional degree
Survey researchers $63k -5.2% Master's degree
Section 4 · Earnings

Earnings at a glance

Median graduate earnings from the federal College Scorecard, 5 and 10 years out.

Median 5-year earnings

$84k

Associate's vs Bachelor's — early-career earnings

Associate's

$59k

Bachelor's

$84k

Who this major is for

You may thrive here if you find yourself more interested in the logic behind how markets clear than in the outputs those markets produce — if supply-and-demand diagrams feel like tools rather than formalism to get through. You may also fit well here if you want an analytically demanding social science that opens options in business, finance, government, and research without locking you into a single career track. Students who move naturally between qualitative reasoning and mathematical modeling tend to find the coursework rewarding; the five-year median earnings for bachelor's completers at $84,293 reflect a degree that translates across sectors.

Think twice if your primary goal is to work as an economist in the technical sense — the occupation typically requires a master's degree, so a bachelor's in Economics is an intermediate step rather than a terminal credential for that title. Think twice also if you are drawn to economics primarily because of interest in business strategy or finance: a Business Economics program may cover overlapping material with a more directly applied orientation, and the job market for formally labeled economics roles shows modest to negative growth projections in several categories. And if quantitative methods feel like a barrier rather than a core skill, the upper-division curriculum will be harder than the introductory courses suggested.

Section 6 · Where to study

Top colleges for Economics, General

Ranked by annual completions at the associate's or bachelor's level — a proxy for program scale.

College Location Assoc. Bach. Total
University of Michigan-Ann Arbor Ann Arbor, MI 0 651 651
University of Wisconsin-Madison Madison, WI 0 431 431
Texas A&M University-College Station College Station, TX 0 367 367
University of Connecticut Storrs, CT 0 360 360
University of California-Irvine Irvine, CA 0 325 325
The University of Texas at Austin Austin, TX 0 325 325
Pasadena City College Pasadena, CA 287 0 287
University of Florida Gainesville, FL 0 280 280
University of North Carolina at Chapel Hill Chapel Hill, NC 0 250 250
Los Angeles Pierce College Woodland Hills, CA 247 0 247
Section 7 · Explore sideways

Related majors to explore

Psychology, General

133,179 completions/yr

Political Science and Government, General

36,654 completions/yr

Sociology, General

26,513 completions/yr

History, General

22,597 completions/yr

Econometrics and Quantitative Economics

15,101 completions/yr

Social Sciences, General

14,846 completions/yr

Business/Managerial Economics

4,031 completions/yr

Agricultural Economics

1,453 completions/yr

Considering this direction?

We've taken a hard look at the debt, earnings trajectory, and degree-level tradeoffs for the Economics, General field. Read our verdict before you commit.

Is Economics, General worth it? Read verdict
Section 9 · Frequently asked

Common questions

What do Economics majors actually study day-to-day?
The core curriculum moves through microeconomics (individual and firm behavior), macroeconomics (national output, inflation, monetary policy), and quantitative methods including statistics and econometrics. You will spend time building and interpreting models, working through mathematical proofs, and applying economic theory to real policy questions — trade-offs in public spending, labor market dynamics, price regulation. Upper-division coursework typically pushes into international economics, money and banking, and specialized fields like environmental or health economics. The CIP definition frames it as studying production, conservation, and allocation of resources under scarcity — that framing holds throughout the curriculum.
Do I need a bachelor's, or is an associate's enough for Economics?
Degree level matters considerably here. Bachelor's completers in this major report median five-year earnings of about $84,293, while associate's completers report roughly $59,032 — a gap of over $25,000. More importantly, the most substantive economics roles require more: the economist occupation lists a master's degree as typical entry education, and postsecondary economics teaching requires doctoral credentials. An associate's degree in economics is primarily a transfer pathway, not a terminal credential for the field. Plan for a bachelor's at minimum if you want access to the full range of career outcomes.
What kinds of jobs do Economics graduates end up in?
The career destinations split into two tiers. With a bachelor's, common paths include management roles (median wage $136,550, 4.5% projected growth), research assistant work ($58,040), and secondary education ($64,580). The formal economist title — at $115,440 median — typically requires a master's degree, as does survey research. Postsecondary economics teaching ($119,980) requires a doctorate. So the bachelor's credential positions you for applied roles in business, government, and research, while the title of economist proper usually requires continuing your education.
How competitive is the job market for Economics graduates?
The picture is mixed. Management roles show 4.5% projected growth — roughly in line with the economy-wide average. But survey researchers show a -5.2% projected decline, and secondary school teachers show -1.6%. The formal economist role has just 1.2% projected growth. Economics is not one of the faster-growing technical fields. The major's strength lies in its analytical versatility — economics graduates tend to qualify for a wider range of roles than their job title suggests, including finance, consulting, data analysis, and policy work, which aren't fully captured in the career data here.
Is Economics, General the right fit, or should I look at a related major?
If you want a more quantitatively rigorous program with explicit statistics and modeling focus, Econometrics and Quantitative Economics (about 15,100 completions per year) is a sharper credential for data-heavy roles in finance or research. If your interest is more applied to business strategy and corporate decision-making, Business/Managerial Economics (about 4,000 completions) covers overlapping ground with a more explicitly professional orientation. Political Science (36,654 completions) or Sociology (26,513) share some career destinations with Economics and are better fits if your primary interest is institutions or social structure rather than market mechanisms.
What's a realistic earnings picture after an Economics degree?
Five-year median earnings for this major run about $84,089 across all degree levels, with bachelor's completers landing at approximately $84,293. That puts the major above the median for social sciences as a group but below technical fields like engineering or computer science. The higher-ceiling roles — management at $136,550 or the economist occupation at $115,440 — reflect either seniority or graduate credentials, not typical early-career outcomes. Entry-level economics roles in research, government, or financial services typically range from $50,000 to $70,000 before experience and advancement.