Economics

Contains Stem Majors

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Total Degrees​
Awarded in 2016

44,449

growing 2.97%

Median In-State​
Public Tuition

$7,111

growing 3.99%

Median Out-of-State​
Private Tuition

$38,720

growing 3.94%

Average Wage

$93,738

growing 3.67%

People in Workforce

3.68M

growing 1.39%

Average Employee Age

43

growing 0.39%

About

The locations with the highest concentration of Economics degree recipients are New York, NY, Los Angeles, CA, and San Diego, CA. The locations with a relatively high number of Economics degree recipients are Danville, KY, Easton, PA, and Hampden-Sydney, VA. The most common degree awarded to students studying Economics is a bachelors degree.

Institutions

Information about the types of higher education institutions that grant degrees in Economics and the types of students that study this field. University of California-Los Angeles awards the most degrees in Economics in the US, but Claremont McKenna College and Centre College have the highest percentage of degrees awarded in Economics.

Tuition costs for Economics majors are, on average, $7,111 for in-state public colleges, and $38,720 for out of state private colleges.

The most common sector, by number of institutions, that offers Economics programs are Private not-for-profit, 4-year or above institutions (434 total). The most common sector, by number of degrees awarded, is Public, 4-year or above (26,042 completions).

Institutions

The most common sector, by number of degrees awarded in Economics, is Public, 4-year or above (26,042 completions).

The following chart shows the share of universities that offer Economics programs, by the total number of completions, colored and grouped by their sector.

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Tuition Costs for Common Institutions

$7,111

Median In-State Public

$38,720

Median Out of State Private

University of California-Los Angeles has the most Economics degree recipients, with 718 degrees awarded in 2016.

The following bar chart shows the state tuition for the top 5 institutions with the most degrees awarded in Economics.

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Specialized Colleges

Highest Concentration Institution

  1. 22.1%

  2. 20.7%

  3. 19.9%

Out of all institutions that offer Economics programs and have at least 5 graduates in those programs, Claremont McKenna College and Centre College have the highest percentage of degrees awarded in Economics, with 22.1% and 20.7%, respectively.

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Degrees Awarded by County

Counties with the Most Degrees Awarded in Economics

This map shows the counties in the United States colored by the highest number of degrees awarded in Economics by year.

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Growth in Awarded Degrees

Counties with the Fastest Growing Number of Degrees Awarded

This map shows the counties in the United States colored by the highest growth in degrees awarded for Economics.

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Employment

Information on the businesses and industries that employ Social Sciences graduates and on wages and locations for those in the field.

The average salary for Social Sciences majors is $93,738 and the most common occupations are Lawyers, & judges, magistrates, & other judicial workers, Miscellaneous managers, and Elementary & middle school teachers.

The industry that employs the most Social Sciences majors is Legal services, though the highest paying industry, by average wage, is Miscellaneous nonmetallic mineral product manufacturing.

Wages

Yearly Income for Common Jobs

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

$93,738

Average Wage in Workforce

± $1,346

3.67%

1 Year Growth

± 1.97%

The average salary for Social Sciences majors is $93,738 and the most common occupations are Lawyers, & judges, magistrates, & other judicial workers, Miscellaneous managers, and Elementary & middle school teachers.

This chart shows the average annual salaries of the most common occupations for Social Sciences majors.

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Highest Paying Locations

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

This map shows the public use micro areas (PUMAs) in the United States colored by the average salary of Social Sciences majors.

Note that the census collects information tied to where people live, not where they work. It is possible that Social Sciences majors live and work in the same place, but it is also possible that they live and work in two different places.

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Occupations

Most Common

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

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Most Specialized

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

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Highest Paid

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

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Occupations by Share

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

3.68M

2017 Workforce

± 46,515

1.39%

1 Year Growth

± 1.77%

The number of Social Sciences graduates in the workforce has been growing at a rate of 1.39%, from 3.63M in 2016 to 3.68M in 2017.

The largest single share of Social Sciences graduates go on to work as Lawyers, & judges, magistrates, & other judicial workers (7.89%). This chart shows the various jobs filled by those with a major in Social Sciences by share of the total number of graduates.

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Industries

Most Common

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

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Highest Paid

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

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Industries by Share

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

3.68M

2017 Workforce

± 46,515

1.39%

1 Year Growth

± 1.77%

The number of Social Sciences graduates in the workforce has been growing at a rate of 1.39%, from 3.63M in 2016 to 3.68M in 2017.

The industry which employs the most Social Sciences graduates by share is Legal services, followed by Elementary & secondary schools. This visualization shows the industries that hire those who major in Social Sciences.

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Specialty Locations

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

This map shows the public use micro areas (PUMAs) in the United States where there are a relatively high population of Social Sciences majors.

Note that the census collects information tied to where people live, not where they work. It is possible that Social Sciences majors live and work in the same place, but it is also possible that they live and work in two different places.

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Diversity

Demographic information on those who earn a degree in Social Sciences in the US. The average age of a person in the workforce with a degree in Social Sciences is 43, and the most common degree type these workers hold is a Bachelors Degree. Male employees are more likely to hold Social Sciences degrees, and White students earn the majority (20,676) of the degrees.

Workforce Age

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

43

Average Age in 2017

± 0.171 Years

0.39%

1 Year Change

± 0.562%

This chart shows distribution of ages for employees with a degree in Social Sciences. The most common ages of employees with this major are 30 and 29 years old, which represent 2.96% and 2.95% of the population, respectively.

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Degrees Awarded

The most common degree types awarded to students graduating in Economics are Bachelors Degree, Masters Degree, and Research Doctorate.

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Workforce Degrees

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

The most common degree types held by the working population in Social Sciences are Bachelors Degree, Masters Degree, and Professional degree.

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Gender Imbalance for Common Institutions

Male (66.4%)

Most Common Gender with a Degree in this Field

This chart shows the granted degrees by gender at the 5 institutions that graduate the most students in Economics.

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Race & Ethnicity by Degrees Awarded

Most Common Race or Ethnicity

  1. White

    20,676 degrees awarded

  2. Non-resident Alien

    10,326 degrees awarded

  3. Asian

    5,125 degrees awarded

This chart shows the number of degrees awarded in Economics for each race & ethnicity. White students earned the largest share of the degrees with this major.

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Race & Ethnicity by Gender

Most Common Race/Ethnicity and Gender Combination

  1. White Male

    14,123 degrees awarded

  2. White Female

    4,800 degrees awarded

  3. Non-resident Alien Male

    3,943 degrees awarded

This chart illustrates the differences by gender for each race & ethnicity of Bachelors Degree recipients in Economics. White Male students, who earn most of the degrees in this field, are the most common combination of race/ethnicity and gender.

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Global Diversity

The closest comparable data for the 4 Digit Course Economics is from the 2 Digit Course Social Sciences.

Most Common Countries of Origin

  1. India

    44,245 degree recipients

  2. China

    39,969 degree recipients

  3. Korea

    28,475 degree recipients

High Relative Number of Students

  1. Singapore

    5.67 times more than expected

  2. Azerbaijan

    4.89 times more than expected

  3. Czechoslovakia

    4.85 times more than expected

There are a relatively high number of people that were born in Singapore that hold Social Sciences degrees (5.67 times more than expected), and the most common country of origin by total numbers for non-US students earning a degree in this field is India (44,245 degree recipients).

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Skills

Data on the critical and distinctive skills necessary for those working in the Economics field from the Bureau of Labor Statistics. Economics majors need many skills, but most especially Monitoring. The revealed comparative advantage (RCA) shows that Economics majors need more than the average amount of Management of Material Resources, Management of Financial Resources, and Negotiation.

These two visualizations, one a radial chart and one a bar chart, show the same information, a rating of how necessary the following skills are for Economics majors. Toggle between "value" and "RCA" to see the absolute rating of that skill (value) and the revealed comparative advantage (RCA), or how much greater or lesser that skill's rating is than the average. The longer the bar or the closer the line comes to the circumference of the circle, the more important that skill is. The importance of Management of Material Resources is very distinctive for majors, but the Monitoring, Reading Comprehension, and Speaking are the three most important skills for people in the field.

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Bar Chart

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