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Agricultural Economics Major

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Agricultural Economics

1,581 Bachelor's Degrees Annually
383 Master's Degrees Annually
#31 in Popularity
$90,890 Median Salary

Types of Degrees Agricultural Economics Majors Are Getting

The following table lists how many agricultural economics graduations there were in 2018-2019 for each degree level.

Education Level Number of Grads
Bachelor’s Degree 1,581
Master’s Degree 383
Doctor’s Degree 153
Basic Certificate 85
Associate’s Degree 48

What Agricultural Economics Majors Need to Know

People with careers related to ag economics were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Ag Economics Majors

This major prepares you for careers in which these knowledge areas are important:

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  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Ag Economics Majors

The following list of skills has been highlighted as some of the most essential for careers related to ag economics:

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  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Speaking - Talking to others to convey information effectively.

Abilities for Ag Economics Majors

As a ag economics major, you will find yourself needing the following abilities:

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  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.

What Can You Do With a Agricultural Economics Major?

People with a ag economics degree often go into the following careers:

Job Title Job Growth Rate Median Salary
Economists 6.1% $104,340
Environmental Economists 6.1% $104,340

Who Is Getting a Bachelor’s Degree in Agricultural Economics?

1,581 Bachelor's Degrees Annually
33% Percent Women
19% Percent Racial-Ethnic Minorities*
This major attracts more men than women. About 67% of the graduates in this field are male.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of ag economics majors is as follows:

Racial-Ethnic Diversity of Ag Economics Students with Bachelor's Degrees
Race/Ethnicity Number of Grads
Asian 69
Black or African American 64
Hispanic or Latino 115
White 1,186
International Students 73
Other Races/Ethnicities 74

Geographic Diversity

Americans aren’t the only ones with an interest in Ag Economics. About 4.6% of those with this major are international students.

How Much Do Agricultural Economics Majors Make?

Salaries According to BLS

Average salaries range from $90,890 to $116,020 (25th to 75th percentile) for careers related to ag economics. This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Median Salary for an Agricultural Economics Major  ( 90890 to 116020 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

Some careers associated with ag economics require an advanced degree while some may not even require a bachelor’s. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

Find out what the typical degree level is for ag economics careers below.

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Education Level Percentage of Workers
Associate’s Degree (or other 2-year degree) 0.4%
Bachelor’s Degree 3.1%
Master’s Degree 24.6%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level. 3.0%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession. 1.4%
Doctoral Degree 57.7%
Post-Doctoral Training 9.7%

Online Agricultural Economics Programs

In the 2018-2019 academic year, 59 schools offered some type of agricultural economics program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level Colleges Offering Programs Colleges Offering Online Classes
Certificate (Less Than 1 Year) 8 1
Certificate (1-2 years) 0 0
Certificate (2-4 Years) 0 0
Associate’s Degree 7 0
Bachelor’s Degree 0 0
Post-Baccalaureate 8 1
Master’s Degree 40 2
Post-Master’s 0 0
Doctor’s Degree (Research) 25 0
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Agricultural Economics Worth It?

The median salary for a ag economics grad is $90,890 per year. This is based on the weighted average of the most common careers associated with the major.

This is 128% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,019,800 after 20 years!

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You may also be interested in one of the following majors related to ag economics.

Major Number of Grads
Agribusiness/Agricultural Business Operations 3,099
Agricultural Business 2,288
Farm/Farm & Ranch Management 645
Agricultural/Farm Supplies Retailing and Wholesaling 381
Agricultural Business & Management 141
Agricultural Business Technology 106

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

More about our data sources and methodologies.

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