Economics Degrees

Overview

A degree in Economics sharpens critical thinking as well as the communication skills of an individual. It enables a student to apply economic theories and techniques to current economic issues. Such analytical skills play a very important role in the business world, making economics students more attractive to potential employers.

Benefits

An individual with a degree in economics gets the opportunity to choose from a plethora of options. From a government economist and administrator to a market researcher and consultant, numerous doors open up. Other potential job opportunities include employment in Fortune 500 companies, labor unions, educational and research institutions, and public utilities. Even an elementary course in Economics can give you a basic understanding of how the economy operates.

Costs

There are tons of costs associated with a business degree like economics. However, the prices vary depending on the school that you choose. The major expenses that you might want to look into in advance include living expenses and tuition fees.

Schools

Numerous schools offer degrees in economics. Do a thorough research on the schools that are available in your area. It is best to choose from business schools known for their comprehensive programs on economics. Places that you can check out are: Harvard University, Massachusetts Institute of Technology, Princeton University, and University of Chicago.

Testing & Preparation

Economics schools expect applicants to have some background in economics, mathematics, or related fields. Prospective students who lack this kind of exposure are advised to take up some courses on these subjects before applying. This is the best way to ensure that you are fully prepared for your education. Otherwise, a bachelor's degree or equivalent is the basic pre-requisite for admission into a good Economics school. Some schools also take into consideration the Graduate Record Examination (GRE) scores.

Financial Aid

Most students seek funding in order to pay for their education. Federal and state governments, universities, and private organizations are the primary sources of funding. There are schools where you can work while you learn. However, most schools provide financial aid to students in the form of scholarships and grants, fellowships and assistantships, and loans. The criteria for awarding vary with the program that you choose to take up. Check with the program that you are applying for to find out the kind of financial aid you are eligible. Massachusetts Institute of Technology offers scholarships and grants to deserving students. If your SAT scores are pretty good, then you can avail financial aid from the National Merit Scholarship Program.