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Other Economics Major

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Other Economics

385 Bachelor's Degrees Annually
86 Master's Degrees Annually
#53 in Popularity
$116,020 Median Salary

Types of Degrees Other Economics Majors Are Getting

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

Education Level Number of Grads
Bachelor’s Degree 385
Master’s Degree 86
Doctor’s Degree 8
Graduate Certificate 6
Undergraduate Certificate 3

What Other Economics Majors Need to Know

O*NET surveyed people in occupations related to other economics and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Other Economics Majors

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

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  • 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.
  • 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.

Skills for Other Economics Majors

A major in other economics prepares you for careers in which the following skill-sets are crucial:

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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.
  • 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 Other Economics Majors

As you progress with your other economics degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

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

What Can You Do With a Other Economics Major?

Below is a list of occupations associated with other economics:

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 Other Economics?

385 Bachelor's Degrees Annually
32% Percent Women
34% Percent Racial-Ethnic Minorities*
This major attracts more men than women. About 68% of the graduates in this field are male.

Racial-Ethnic Diversity

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

Racial-Ethnic Diversity of Other Economics Students with Bachelor's Degrees
Race/Ethnicity Number of Grads
Asian 60
Black or African American 16
Hispanic or Latino 38
White 200
International Students 40
Other Races/Ethnicities 31

Geographic Diversity

Students from other countries are interested in Other Economics, too. About 10.4% of those with this major are international students.

How Much Do Other Economics Majors Make?

Salaries According to BLS

Average salaries range from $115,590 to $117,180 (25th to 75th percentile) for careers related to other 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 Other Economics Major  ( 115590 to 117180 )
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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 other economics require an advanced degree while some may not even require a bachelor’s. 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 other economics careers below.

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Education Level Percentage of Workers
High School Diploma - or the equivalent (for example, GED) 1.7%
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) 1.3%
Some College Courses 0.2%
Associate’s Degree (or other 2-year degree) 1.8%
Bachelor’s Degree 35.8%
Master’s Degree 25.6%
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. 4.0%
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. 1.2%
Doctoral Degree 27.9%
Post-Doctoral Training 0.8%

Online Other Economics Programs

In the 2018-2019 academic year, 61 schools offered some type of other 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) 1 0
Certificate (1-2 years) 0 0
Certificate (2-4 Years) 1 0
Associate’s Degree 0 0
Bachelor’s Degree 4 0
Post-Baccalaureate 1 0
Master’s Degree 16 2
Post-Master’s 1 0
Doctor’s Degree (Research) 7 0
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Other Economics Worth It?

The median salary for a other economics grad is $116,020 per year. This is based on the weighted average of the most common careers associated with the major.

This is 191% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,522,400 after 20 years!

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

Major Number of Grads
General Economics 34,159
Econometrics & Quantitative Economics 11,931
Applied Economics 727
Development Economics & International Development 628
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.

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