Additional Information

If you are like many college students, you may complain that there is just not enough information available to students about the various majors at a college or university. For example, students who major in business sometimes say they are not quite certain what a business major is all about; but then they go on to add that majoring in business is a safe bet. “After all,” they comment, “you are pretty sure of getting a job if you have a business degree. That's not always the case with other degrees.”

Many college students choose their majors based on their high school courses. History majors sometimes say they decided to major in history because they “liked history in high school.” Similarly, chemistry, biology, and math majors say they chose chemistry, biology, or math as a college major because they liked studying chemistry, biology, or math in high school. In addition, if a student had a hard time with chemistry in high school and found it boring, then he doesn't usually want to major in chemistry in college. If a student found both math and economics easy and interesting in high school, then she is likely to major in math or economics in college.

Students also often look to the dollars at the end of the college degree. A student may enjoy history and want to learn more history in college but tell herself that she will earn a higher starting salary after graduation if she majors in computer science or engineering. Thus, when choosing a major, students often consider (1) how much they enjoy studying a particular subject, (2) what they would like to see themselves doing in the future, and (3) income prospects. Different people may weight these three factors differently. But no matter what weights you put on each of the factors, it is always better to have more information than less information, i.e. ceteris paribus. (We note “ceteris paribus” because it is not necessarily better having more information than less information if you have to pay more for the additional information than the additional information is worth. Who wants to pay $10 for a piece of information that only provides $1 in benefits?)

We believe this short essay is a fairly low-cost way of providing you with more information about an economics major than you currently have. We start by dispelling some of the misinformation you might possess about an economics major. Stated bluntly, some things that people think about an economics major and about a career in economics are just not true. For example, some people think that economics majors almost never study social relationships; instead, they only study such things as inflation, interest rates, and unemployment. Not true. Economics majors study some of the same things that sociologists, historians, psychologists, and political scientists study. We will also provide you with some information about the major that you may not have.

Next, we tell you the specifics of the economics major—what courses you study if you are an economics major, how many courses you are likely to have to take, and more.

Finally, we tell you something about a career in economics. Okay, so you have opted to become an economics major. But the day will come when you have your degree in hand. What's next? What is your starting salary likely to be? What will you be doing? Are you going to be happy doing what economists do? (If you never thought economics was about happiness, you already have some misinformation about economics. Contrary to what most laypeople think, economics is not just about money. It is about happiness too.)

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