• Economists study how people make decisions and the consequences of those decisions. For example, what are the key forces at work in the decision to buy a Mac or a PC? What factors determine the production of these goods and how is that production organized? How do these forces interact to determine the prices we pay for computers and the number of computers produced? How would a tax or a subsidy change the prices and quantities? Who gains? Who loses? How do these decisions aggregate to give overall employment and inflation? Economics provides a unified framework to think about choice, its consequences, and the ability of policymakers to change outcomes.
  • Although Miami’s major provides specific skills in certain areas, such as econometrics, the key piece of human capital acquired by our majors is a well-honed and oft-practiced skill of critical thinking, especially with regard to problems that involve data and quantitative methods. As a result, economics majors are in high demand across a variety of employers and graduate schools. Recent placements include Nielsen Consulting, JPMorgan Chase, Abercrombie and Fitch, and for graduate work, Harvard, Duke, and Ohio State. These skills are also rewarded well. In 2009, economics majors earned the fifth highest starting salaries and mid-career earnings (behind four areas of engineering) and scored the second-highest of any major on the LSAT exam.
  • All economics programs require at least 30 hours of economics, which cover principles and advanced microeconomic and macroeconomic theory. In addition, business economics requires business core courses that prepare students to help firms and organizations understand and adapt to a changing economic environment. This major also prepares students for graduate study in economics, law school, MBA programs, and public policy programs, as well as for business careers in financial service industries and similar positions.