Premium
The Economic Reward for Studying Economics
Author(s) -
Black Dan A.,
Sanders Seth,
Taylor Lowell
Publication year - 2003
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1093/ei/cbg014
Subject(s) - economics education , economics , variety (cybernetics) , graduate students , applied economics , business economics , positive economics , public economics , microeconomics , higher education , sociology , economic growth , pedagogy , artificial intelligence , computer science
Undergraduate advisors in economics departments suggest that the study of economics is good preparation for a variety of careers, including economics, consulting, analysis, and administration, and they argue that economics is a solid prelaw or pre‐MBA major. In this article we provide some empirical evidence about each of these contentions. We find that among college graduates who do not earn advanced degrees, economics majors generally earn more than similar individuals with other majors. We show also that among individuals who pursue graduate degree programs in business and law, economics majors earn more than undergraduate majors in most other academic disciplines.