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Human existence is universally marked by having to make choices in the context of limited resources. Economists use scientific means to study how people make choices. They study social, business, and individual decision-making and how those decisions get influenced by the goals, incentives, institutions, and constraints.
Two undergraduate degrees in economics are offered, which provides economics majors with the opportunity to pursue the college core curriculum that is most suited to their interests and career goals.
Bachelor of Arts (BA) - combines the classical liberal arts and modern quantitative approaches and is designed for students pursuing a second major or minor in traditional liberal arts disciplines or in mathematics and statistics.
Bachelor of Business Administration (BBA) - for students who are interested in business education but with a strong foundation in economics.
Acquire strong quantitative and investigative skills that they can readily apply to examine, analyze, and interpret data.
Learn how to critique and formulate policy options.
Understand how to combine economic models with everyday observations to analyze the world around them.
A major in economics prepares students for careers in business and government, the study of law, and graduate work in economics, management, public policy, and related fields. Business careers that require the analytical training of an economist include banking, management, insurance, marketing research, and securities trading.
Economists also work for government agencies in areas such as foreign and intelligence service, regulatory agencies, and international trade. Research organizations, consulting firms, and public interest groups also actively recruit Economics majors.
Admissions and Scholarships
Students with a major in LSBE are eligible to apply for more than 120 scholarships, with the total scholarship amount in excess of $200,000 annually. Some of these scholarships are exclusively available to Economics students.
The Economics Club provides members with opportunities to attend presentations, engage in lively conversations on current topics, and travel to major conferences. Students can also become members of Omicron Delta Epsilon, one of the world's largest academic honor societies in economics.
Faculty in the Department of Economics have a strong application orientation. Regardless of the degree you choose (BA or BBA), you will learn from faculty who place special emphasis on the application of economic principles and models, and are themselves doing cutting-edge research to push the frontiers of applied economic knowledge.
Students must declare a second major or minor.
Recent UMD Graduates Job Placement Data & Employers
Here's a sampling of positions Economics B.A. grads have attained six months to one year after graduation.
- Financial Professional, AXA Advisors, Minneapolis, MN
- Energy Policy Fellow, Fresh Energy, St. Paul, MN
- Business Development Representative, Infor, St. Paul, MN
- Regional Account Manager, Optum, Duluth, MN
- Actuarial Analyst, Securian Financial Group, St. Paul, MN