Economics

Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Economists develop conceptual models of behavior to predict responses to changes in policy and market conditions and then use rigorous statistical analysis to investigate these changes. Students majoring in economics at UIC’s College of Liberal Arts and Sciences learn how societies, governments, businesses, households, and individuals allocate their scarce resources.

Economists are well known for advising the U.S. president and members of Congress on economic issues, formulating policies at the Federal Reserve Bank, and analyzing economic conditions for investment banks, brokerage houses, real estate companies, and other private sector businesses. They also contribute to the development of many other public policies, including health care, welfare, and school reform and efforts to reduce inequality, pollution, and crime.

See how other students found their fit below with this major!

Below is a sample of how UIC alumni have applied their economics major to a professional path!

• Analyst, Loop Capital Markets
• Asset Manager, Northern Trust Corporation
• Banker, JP Morgan Chase
• Customer Service Specialist, Farmers Insurance Group
• Medical Sales Representative, Stericycle
• Procurement Specialist, Morningstar
• Senior Manager, Risk Management and Control, BMO Harris
• Senior Manager, Marketing Operations, 3Com
• Senior Recruiter, Aon
• Treasury Analyst, International Finance, McDonald’s Corporation

In addition to the foundational set of skills and competencies you will acquire in any liberal arts and science major, there are also unique skills and perspectives you gain from your economics major. Review the list below to learn more:

• Strengthen proficiency in microeconomic theory
• Strengthen knowledge of macroeconomic theory
• Possess overall proficiency of statistical and econometric techniques
• Possess an understanding of the institutions that influence economic activity
• Ability to apply the tools of microeconomic and macroeconomic theory to analyses of problems in various areas (e.g., labor, education, health, the global economy)
• Ability to produce well-written analyses of various issues using the tools of economic theory

There are many workplace settings, industries, and career areas in which you can apply your major based on your professional interests. Below is a sample list of industry clusters that other economics majors have transitioned into. What type of setting or career area appeals to you?

• Banking, Finance, and Insurance
• Business and Entrepreneurship
• Communications and Media
• Criminology and Law Enforcement
• Cultural and Museum Studies
• Education
• Government, International Affairs, and Public Service
• Hospitality and Tourism
• Law and Legal Services
• Marketing, Advertising, and Public Relations
• Research
• Social Services