Find Business Schools

Study Area & Zipcode

General Economics Major

Find Schools Near

General Economics

29,898 Bachelor's Degrees Annually
1,426 Master's Degrees Annually
#5 in Popularity
$115,590 Median Salary

Types of Degrees General Economics Majors Are Getting

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

Education Level Number of Grads
Bachelor’s Degree 29,901
Associate’s Degree 2,228
Master’s Degree 1,426
Doctor’s Degree 594
Graduate Certificate 6
Basic Certificate 4

What General Economics Majors Need to Know

In an O*NET survey, general economics majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for General Economics Majors

General Economics majors often go into careers in which the following knowledge areas are important:

undefined
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

Skills for General Economics Majors

general economics majors are found most commonly in careers in which the following skills are important:

undefined
  • 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.
  • Speaking - Talking to others to convey information effectively.
  • 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.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for General Economics Majors

General Economics majors often go into careers where the following abilities are vital:

undefined
  • 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.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.

What Can You Do With a General Economics Major?

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

Job Title Job Growth Rate Median Salary
Compliance Managers 8.0% $107,480
Economics Professors 10.9% $101,480
Economists 6.1% $104,340
Investment Fund Managers 8.0% $107,480
Regulatory Affairs Managers 8.0% $107,480

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

29,901 Bachelor's Degrees Annually
31% Percent Women
29% Percent Racial-Ethnic Minorities*
This major attracts more men than women. About 69% of the graduates in this field are male.

Racial-Ethnic Diversity

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

Racial-Ethnic Diversity of General Economics Students with Bachelor's Degrees
Race/Ethnicity Number of Grads
Asian 3,289
Black or African American 1,340
Hispanic or Latino 3,062
White 14,997
International Students 5,242
Other Races/Ethnicities 1,971

Geographic Diversity

Students from other countries are interested in General Economics, too. About 17.5% of those with this major are international students.

How Much Do General Economics Majors Make?

Salaries According to BLS

General Economics majors often go into careers where salaries can range from $63,240 to $116,020 (25th to 75th percentile). This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

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 a General Economics Major  ( 63240 to 116020 )
0K
250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
0K
250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
0K
250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
0K
250K

Some degrees associated with general economics may require an advanced degree, while others may not even require a bachelor’s in the field. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

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

undefined
Education Level Percentage of Workers
High School Diploma - or the equivalent (for example, GED) 1.4%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) 1.1%
Some College Courses 0.2%
Associate’s Degree (or other 2-year degree) 1.5%
Bachelor’s Degree 37.7%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master. 0.7%
Master’s Degree 27.8%
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. 4.1%
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. 1.0%
Doctoral Degree 24.3%
Post-Doctoral Training 1.4%

Online General Economics Programs

In the 2018-2019 academic year, 864 schools offered some type of general 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) 14 0
Certificate (1-2 years) 2 0
Certificate (2-4 Years) 1 0
Associate’s Degree 122 27
Bachelor’s Degree 6 1
Post-Baccalaureate 14 0
Master’s Degree 169 8
Post-Master’s 7 0
Doctor’s Degree (Research) 102 1
Doctor’s Degree (Professional Practice) 1 0
Doctor’s Degree (Other) 0 0

Is a Degree in General Economics Worth It?

The median salary for a general economics grad is $115,590 per year. This is based on the weighted average of the most common careers associated with the major.

This is 190% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,513,800 after 20 years!

undefined

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

Major Number of Grads
Econometrics & Quantitative Economics 11,931
Applied Economics 727
Development Economics & International Development 628
Other Economics 488
International Economics 364

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.

Featured Schools

You have goals. Southern New Hampshire University can help you get there. Whether you need a bachelor's degree to get into a career or want a master's degree to move up in your current career, SNHU has an online program for you. Find your degree from over 200 online programs.

Visit School

Find Business Schools Near You

Our free school finder matches students with accredited business colleges across the U.S.