Why Economics

	Why Economics? A major, a minor, a double major, or general education course?
W hy Economics? This is an important question that you should ask yourself as you contemplate signing up for an economics class or declaring economics as a major or minor. A college education is an substantial investment. Your choice of a major and course selections are among the most important decisions you will make, as this has a major bearing on the return to your education investment. There is no "magic formula" ensuring you a lifetime of rewarding work and success. But you can rest assured that should you major or minor in economics, or take economics courses, you will gain a great deal of insight into how the world works, be provided with training in rigorous qualitative and quantitative analysis, and develop valuable perspectives on today's pressing public policy issues. Maybe this is why on July 5, 2005 the Wall Street Journal ran Jessica Vascellaro's, "The Hot Major For Undergrads Is Economics," where the "explosion" of economics majors in recent years was attributed to the students' increasing concern for a return on their investment. "In a global economy filled with uncertainty, many students see economics as the best vehicle for a job promising good pay and security." The major may be important, but so are the work habits and skills you develop. Your college years are a time for you to develop work habits and a portfolio of skills that include communications, computer, quantitative, and critical thinking / problem solving skills. You will have the opportunity to master these skills in the courses offered in the Economics Department. According to the National Association of Colleges and Employers' annual survey, verbal and written communication make it to the list of top skills, as do computer and analytical skills, which is precisely the perspective offered by a recent grad who wrote: "The most important skills are good computer skills, research skills, and problem solving skills. I know it sounds clichéd, but it is crucial that you have good problem solving skills, almost more so than anything else. My leaders know that when they give us something to do, we are able to figure it out without having to bother them at every step. We’re not expected to know everything, but to know what to do when you don’t know something." To see if economics is right for you, stop by career services or visit the Department Chair to discuss the possibilities, or you can read what some of the department's alumni have to say about the question: Why Economics? "Looking back at my years at URI, I am as well prepared, if not better, than anyone I have come into contact with. I didn’t have a finance background, and it wasn’t really necessary." "[t]he academic demands and accessible faculty of the University of Rhode Island’s Economics Department ... allowed students ... to build both an intellectual and practical foundation for the future." "I learned something new from each of the Economics professors I had and collectively, they helped me develop the tools necessary to succeed outside of the University." "Economics taught me to think through problems. I used my skills from day one." "there is no question but that my degree has been invaluable in helping me build a successful career. I use my economics knowledge every single day of the week." "[the] ecn department was critical to my current success. I think that both the coursework and the relationships I built within the department helped me develop a new way of thinking. The Major:The Department of Economics offers two undergraduate degrees, a Bachelor of Arts (B.A.) and a Bachelor of Science (B.S.). Both of these degrees are very different. You should be sure to talk with the the Chair of the Department about these programs to determine which is best suited for your background and career interests. The Department's goal in both programs is to prepare students for fulfilling careers and lifetime learning. Undrgraduate training in economics doesn't generally lead to work after graduation as an economist, but it does provide a liberal arts education that prepares students for a wide array of interesting career options including graduate work in business, law, environmental studies, health care administration, public policy, or employment in banking and financial services, education, management trainee programs, government administration, and public service. While the economics curriculum is less vocationally oriented than the undergraduate business curriculum, it provides an overall educational experience that allows economics majors to apply for many of the same positions open to graduating business majors. Majoring in economics is valuable because graduate schools and employers often view graduation with an economics degree as evidence of your ability to think logically and critically and your mastery of basic quantitative skills. It also provides a good background for many jobs in business, management, and government. Surveys of college graduates indicate that the starting salaries of economics majors are among the highest for all business and social science degrees. In addition to majoring only in economics, many of our students decided to declare a double major. The most common double majors are Business and Economics, Mathematics and Economics, and Political Science and Economics. Obviously, there have been many other double majors. If you are interested in exploring these possibilities, you should talk to the Department Chair. *Minors: A minor can be a useful way of signaling to prospective employers or graduate schools areas of strength related to your major. For example, if you are an economics major with a minor in mathematics or computer science, this will demonstrate your quantitative skills to potential employers and graduate schools. Minors in Political Science, Finance, or Marine Affairs will be reflective of your areas of interest. If you not an economics major, a minor in economics will send a powerful signal to potential employers or graduate schools that you understand the economic perspective and that you possess some of the basic analytical and quantitative skills are developed in economics courses. Jake Goldman has found that economics has been a good complement to his work in film and management information systems. "As a student also minoring in film, I am attracted to the issues of social justice explored in economics. The history component of economics often allows me to better understand and critique movies from different points in modern history. For example, understanding the questions of the late 60's / early 70's is crucial to more fully "understanding" classics "The Graduate" and "Taxi Driver." Likewise, understanding financial policies of the 80's is key in analyzing "Wall Street." General Education Courses: The University has a general education program that requires students to take a specified number of courses in Fine Arts and Literature, Mathematics, Letters, Natural Science, and Social Sciences. Students should consider their choice of general education courses to be a key element of their educational plan, an opportunity to 'craft' a personalized plan that will position them for entry into the 'real' world. The department offers five courses that satisfy the University's general education requirements - Introduction to Economics (ECN100), Introduction to Microeconomics (ECN201), Introduction to Microeconomics (ECN202), Radical Critiques of Contemporary Political Economy (ECN381), and Research Methods (ECN306). In these courses you will be exposed to the "economic way of thinking." If you are considering taking one of these courses, you should talk to the instructor about their particular section or view their syllabus on the web. There is a considerable range across class sections in mathematical content, general approach, and teaching style. You should make an informed choice that will work best for you. If you have any questions you should see the Chair of the Department. Instructors*: Not all professors are alike. And not all students flourish under the same teaching style. You should seek out instructors whose teaching style and course emphases are most consistent with your interests. Once enrolled in classes, you should seek to develop relationships with your professors, on a one-on-one basis if possible. The economics department at URI is fortunate to have a diverse faculty that includes three faculty members are recipients of the University's Teaching Excellence Award. If you have any questions concerning individual faculty members, feel free to contact the Chair of the Department.

Why Economics?
A major, a minor, a double major, or general education course?

W hy Economics? This is an important question that you should ask yourself as you contemplate signing up for an economics class or declaring economics as a major or minor. A college education is an substantial investment. Your choice of a major and course selections are among the most important decisions you will make, as this has a major bearing on the return to your education investment. There is no "magic formula" ensuring you a lifetime of rewarding work and success. But you can rest assured that should you major or minor in economics, or take economics courses, you will gain a great deal of insight into how the world works, be provided with training in rigorous qualitative and quantitative analysis, and develop valuable perspectives on today's pressing public policy issues. Maybe this is why on July 5, 2005 the Wall Street Journal ran Jessica Vascellaro's, "The Hot Major For Undergrads Is Economics," where the "explosion" of economics majors in recent years was attributed to the students' increasing concern for a return on their investment. "In a global economy filled with uncertainty, many students see economics as the best vehicle for a job promising good pay and security."

The major may be important, but so are the work habits and skills you develop. Your college years are a time for you to develop work habits and a portfolio of skills that include communications, computer, quantitative, and critical thinking / problem solving skills. You will have the opportunity to master these skills in the courses offered in the Economics Department. According to the National Association of Colleges and Employers' annual survey, verbal and written communication make it to the list of top skills, as do computer and analytical skills, which is precisely the perspective offered by a recent grad who wrote:

"The most important skills are good computer skills, research skills, and problem solving skills. I know it sounds clichéd, but it is crucial that you have good problem solving skills, almost more so than anything else. My leaders know that when they give us something to do, we are able to figure it out without having to bother them at every step. We’re not expected to know everything, but to know what to do when you don’t know something."

To see if economics is right for you, stop by career services or visit the Department Chair to discuss the possibilities, or you can read what some of the department's alumni have to say about the question: Why Economics?

"Looking back at my years at URI, I am as well prepared, if not better, than anyone I have come into contact with. I didn’t have a finance background, and it wasn’t really necessary."

"[t]he academic demands and accessible faculty of the University of Rhode Island’s Economics Department ... allowed students ... to build both an intellectual and practical foundation for the future."

"I learned something new from each of the Economics professors I had and collectively, they helped me develop the tools necessary to succeed outside of the University."

"Economics taught me to think through problems. I used my skills from day one."

"there is no question but that my degree has been invaluable in helping me build a successful career. I use my economics knowledge every single day of the week."

"[the] ecn department was critical to my current success. I think that both the coursework and the relationships I built within the department helped me develop a new way of thinking.

The Major:The Department of Economics offers two undergraduate degrees, a Bachelor of Arts (B.A.) and a Bachelor of Science (B.S.). Both of these degrees are very different. You should be sure to talk with the the Chair of the Department about these programs to determine which is best suited for your background and career interests.

The Department's goal in both programs is to prepare students for fulfilling careers and lifetime learning. Undrgraduate training in economics doesn't generally lead to work after graduation as an economist, but it does provide a liberal arts education that prepares students for a wide array of interesting career options including graduate work in business, law, environmental studies, health care administration, public policy, or employment in banking and financial services, education, management trainee programs, government administration, and public service. While the economics curriculum is less vocationally oriented than the undergraduate business curriculum, it provides an overall educational experience that allows economics majors to apply for many of the same positions open to graduating business majors. Majoring in economics is valuable because graduate schools and employers often view graduation with an economics degree as evidence of your ability to think logically and critically and your mastery of basic quantitative skills. It also provides a good background for many jobs in business, management, and government. Surveys of college graduates indicate that the starting salaries of economics majors are among the highest for all business and social science degrees.

In addition to majoring only in economics, many of our students decided to declare a double major. The most common double majors are Business and Economics, Mathematics and Economics, and Political Science and Economics. Obviously, there have been many other double majors. If you are interested in exploring these possibilities, you should talk to the Department Chair.

Minors: A minor can be a useful way of signaling to prospective employers or graduate schools areas of strength related to your major. For example, if you are an economics major with a minor in mathematics or computer science, this will demonstrate your quantitative skills to potential employers and graduate schools. Minors in Political Science, Finance, or Marine Affairs will be reflective of your areas of interest. If you not an economics major, a minor in economics will send a powerful signal to potential employers or graduate schools that you understand the economic perspective and that you possess some of the basic analytical and quantitative skills are developed in economics courses. Jake Goldman has found that economics has been a good complement to his work in film and management information systems. "As a student also minoring in film, I am attracted to the issues of social justice explored in economics. The history component of economics often allows me to better understand and critique movies from different points in modern history. For example, understanding the questions of the late 60's / early 70's is crucial to more fully "understanding" classics "The Graduate" and "Taxi Driver." Likewise, understanding financial policies of the 80's is key in analyzing "Wall Street."

General Education Courses: The University has a general education program that requires students to take a specified number of courses in Fine Arts and Literature, Mathematics, Letters, Natural Science, and Social Sciences. Students should consider their choice of general education courses to be a key element of their educational plan, an opportunity to 'craft' a personalized plan that will position them for entry into the 'real' world. The department offers five courses that satisfy the University's general education requirements - Introduction to Economics (ECN100), Introduction to Microeconomics (ECN201), Introduction to Microeconomics (ECN202), Radical Critiques of Contemporary Political Economy (ECN381), and Research Methods (ECN306). In these courses you will be exposed to the "economic way of thinking." If you are considering taking one of these courses, you should talk to the instructor about their particular section or view their syllabus on the web. There is a considerable range across class sections in mathematical content, general approach, and teaching style. You should make an informed choice that will work best for you. If you have any questions you should see the Chair of the Department.

Instructors: Not all professors are alike. And not all students flourish under the same teaching style. You should seek out instructors whose teaching style and course emphases are most consistent with your interests. Once enrolled in classes, you should seek to develop relationships with your professors, on a one-on-one basis if possible. The economics department at URI is fortunate to have a diverse faculty that includes three faculty members are recipients of the University's Teaching Excellence Award. If you have any questions concerning individual faculty members, feel free to contact the Chair of the Department.