UP IN STEM, DOWN IN BUSINESS: CHANGING COLLEGE MAJOR DECISIONS WITH THE GREAT RECESSION | Zendy

Liu Shimeng | Zendy; Sun Weizeng | Zendy; Winters John V. | Zendy

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UP IN STEM, DOWN IN BUSINESS: CHANGING COLLEGE MAJOR DECISIONS WITH THE GREAT RECESSION

Author(s) -

Liu Shimeng,

Sun Weizeng,

Winters John V.

Publication year - 2019

Publication title -

contemporary economic policy

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.454

H-Index - 49

eISSN - 1465-7287

pISSN - 1074-3529

DOI - 10.1111/coep.12396

Subject(s) - recession , great recession , ethnic group , race (biology) , economics , demographic economics , political science , labour economics , keynesian economics , sociology , gender studies , law

We use the American Community Survey (ACS) to investigate the extent to which college major decisions were affected during and after the Great Recession with special attention to business and science, technology, engineering, and mathematics (STEM) fields, as well as the heterogeneity across demographic groups. Several conclusions are reached. First, the Great Recession increased the frequency of STEM majors but decreased the frequency of business majors. Second, the increase for STEM fields spreads across several detailed STEM majors, while the decrease in business majors is especially concentrated among finance and management. Third, we find strong heterogeneous effects of the Great Recession by gender and race/ethnicity. ( JEL I20, J24)

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