Economics
Whether you're trying to reduce poverty, decide whether to buy or lease a car, or figure out how a company can make the best use of its employees' time, you're using economics. As an economics major, you'll see exactly how we apply economics every day in our professional and personal lives. UB's economics program is designed for people who want to make the world better (and more efficient) by understanding how we distribute money, land and other limited resources.
What will I learn?
As an economics major, you'll study foundational concepts like inflation, interest rates, wealth and trade—including how psychology helps shape our behavior. You'll learn how to gather data, analyze and develop economic policies, and present your findings. And you'll discover the role of applied economics throughout society as you take courses in microeconomics, macroeconomics and econometrics.
Economics BA vs. BS
- The BA is generally designed for students who want to start their career after graduation.
- The BS has more math and econometrics courses, typically for students going to graduate school or considering careers in analytics.
What can I do with an economics degree?
Economics is one of the most flexible majors you'll find. While most economics students go to work in financial services (including banks, brokerage firms and insurance companies), you’ll quickly see how economics applies to everything from advertising and retail to health care and the environment. As one recent economics student said, "I chose economics to affect social change."
Here are just some of the places economists work, along with a sampling of what you can do there:
- Academia, teaching students how to understand economics.
- Banking and financial services, advising on economic growth, inflation, interest rates and profitability.
- Business, forecasting sales and consumer demand, and looking at competitors and antitrust issues.
- Government, gathering data and advising on policies related to budgets, tax cuts, employment and immigration.
- International markets, consulting on exchange rates and trade policies.
By the Numbers
Check out salary ranges and career outlooks straight from the U.S. Department of Labor to see the return on investment for your degree.
| Occupation Title | Mean Annual Wage | Mean Hourly Wage | Future Outlook |
|---|---|---|---|
| Managers, All Other | $47,950.00 | $23.05 | Rapid Growth, Many Openings |
| Statisticians | $107,440.00 | $51.65 | Rapid Growth |
| Data Scientists | $75,620.00 | $36.36 | Rapid Growth |
| Economists | $74,670.00 | $35.90 | |
| Social Science Research Assistants | $93,610.00 | $45.01 | Rapid Growth |
| Economics Teachers, Postsecondary | $66,510.00 | $31.98 |
Data provided by the and DOL data from 2024.