Economics studies how businesses and consumers make tradeoffs and how they allocate resources among competing priorities. With scarce resources a problem all of us face, economics provides a way of thinking about these problems and then devising solutions, especially within strategic environments such as where businesses compete for market share.
Economists become business consultants, advising firms on what markets to enter and how to better streamline operations. They forecast market trends and predict what industries will soon expand and contract thereby identifying investment opportunities. Economists help design budgets for both firms and governments, recognizing the inherent tradeoffs that these budgets necessitate. Economists also help guide regulation addressing societal concerns such as the environment or healthcare. Other economists then advise businesses on how to cost effectively comply with these regulations.
Outside of business, economics graduates become lawyers, applying economic arguments to legal cases. Others go to poverty centers or international agencies helping to devise policies that help those less fortunate. Still others work in government offices, not only setting budgets but formulating policy. An economics degree provides tremendous flexibility as to what you can do after graduation.
In all of these pursuits, economists combine economic theory with data analysis to facilitate wise decision making. The career paths available to economists are virtually limitless and include business consulting, banking, budget officers, financial advisors, market analysts as well as alternative career paths such as politics, government, or law.
Economics majors can receive the Thomas and Chany Chung Scholarship. This is a noncompetitive award meaning EVERYONE who qualifies receives it – you do not even need to apply! Every Economics major with a 3.0+ GPA – both overall at SIU and in Economics courses – will receive the Chung EACH SEMESTER, currently paying $2000 per student per semester.
- Master of Arts in Economics
- Master of Science in Economics
- Ph.D. in Economics
Students can also take advantage of our accelerated master’s program, allowing a student to earn both the BA and the MA in only five years.
In addition to classroom training, our students are offered the unique option to participate in our Blockchain Initiative. This is a collaboration between students, staff, faculty, alumni and interested community members which leads to meaningful networking opportunities and a higher quality, in-depth learning experience.