• Studying Economics
  • Majoring in Economics
  • Department Chair Message

INFORMATION FOR CURRENT AND PROSPECTIVE STUDENTS

Welcome to the Economics Department Website. Are you looking into Economics:- either thinking about taking it as a major or interested in what Economics actually involves and what Economists do? You may want to check out the message from our department chair, Professor Jeff Heinrich, as well as some general information about what economics (as a discipline) does. Also, please visit our working paper archives to see what kind of projects our faculty are currently working on.

Below you'll find some things that will hopefully answer any questions you may have. If there's something thats not listed there, feel free to contact us at: economics@uww.edu

For More Information, Contact:

HYLAND HALL
800 W. Main Street
Whitewater, WI 53190
Tel: (262) 472-1354
Email: economics@uww.edu

MAJORING IN ECONOMICS

"Why Should I Major in Economics?"

Why Major in Economics?

  1. Economics teaches valuable skills and problem solving techniques that are highly valued in business, government, and not-for-profit organizations.
  2. Good paying jobs! According to a 1997 salary survey by the National Association of Colleges and Employers, persons with a bachelor's degree in economics received offers averaging $31,300 a year. According to the Occupational Outlook Handbook published by the Bureau of Labor Statistics, in 2000 the median salary for an economist was $64,830.

What is Economics?

  1. Economics provides training to think analytically and critically to solve complex problems.
  2. Economics majors learn important business skills.
  3. Unlike an accounting or an engineering degree, economics is a general degree that teaches problem-solving techniques and economic principles that can be applied in variety of jobs directly after graduation (banking for example).
  4. While majoring in economics does not guarantee that you will make $ millions in the stock market, economics helps you understand how stock markets and other markets work.
  5. Economics is a social science. Economists are trained to analyze behavior in relation to business, government, law, and not-for-profit organizations.

What Types of Jobs Are Available for Economists?

  1. Business Economists. Economists in business analyze data and provide information that managers use to make decisions. Many corporate CEOs have risen to their positions through the economics division. (For example, John Menard, Jr. of Menard's and Sam Walton of Walmart majored in economics) Job tasks for economists in business include:

    -- Forecasting and analysis of U.S. economy
    -- Industry forecasting and analysis
    -- International forecasting and analysis
    -- Product forecasting, microeconomics
    -- Domestic policy and other areas of analysis
    -- Administration

  2. Economists in Government and Nonprofit Organizations. Most departments in federal, state, and local governments have agencies established to perform economic research and analysis. In addition, there are positions in nonprofit and other organizations in which economists conduct research and implement programs.
  3. An Economics Degree also provides skills to land entry-level positions that lead to rapid advancement.

Some Important Considerations…

  1. The economics major must be willing to develop analytical and quantitative skills. Economics majors may also want to take courses in statistics, mathematics, and computer science. Consider your career goals when deciding which combination of classes to take. The analytical skills of economics majors are what make them so valuable in the job market.
  2. An economics degree is excellent preparation for those interested in going on for an MBA or Law degree.

For more information on economics go to: http://www.swcollege.com/bef/career_resources.html

When is the Right Time to Take ECON 200 Level Courses

After reading all this, hopefully you are interested in learning more about when to start taking courses in economics.

Student Organizations

The Whitewater Economics Society offers students a combination of professional services and social activities. The Wisconsin Iota chapter of Omicron Delta Epsilon is an International Economics Honor Society for Economics majors with a grade point average higher than 3.00. It is dedicated to the encouragement of excellence in economics and recognizes, first and foremost, scholastic achievement in economics. It also provides students with a vehicle toward a better perception of and familiarity with economics.

Message From Our Department Chair

"Economics is the study of how societies create and allocate and resources. While economics is truly a social science (at many universities economics departments are located in colleges of arts and sciences), economics is also a foundational component to the study of business. At UW-Whitewater, the economics department is physically located in the Colleges of Business and Economics.

 

A key focus of the Department of Economics at UW-Whitewater is on applied business and economic analysis. Economics faculty members are actively engaged in applying the tools of economic analysis to answer questions important to both business and government. For example, one economics professor is currently involved in a project funded by the State of California to examine the economic impact of the Yellow Star Thistle (and invasive plant species) in the California rangelands. One goal of the research is to determine whether it is cost effective to reduce the impact of the invasive plant in the rangelands. More broadly, with the recently established Fiscal and Economic Research Center , there are opportunities for our students to get involved with practical applications of economic analysis.

 

Are you a student who likes to think about issues more broadly? Do you value careful thinking and reliance on analytical tools to better understand/evaluate the world around you? If so, perhaps economics is the right major for you. Our goal is to provide the very best training possible so that our graduates are able to apply the tools of economic analysis in businesses and in government. We also strive to prepare students with ambitions to attend graduate school with the skills necessary to successfully complete graduate degrees in business, law, public administration, and economics. In recent years our students have gone on to graduate school at places like Marquette University , Ohio State University, the University of British Columbia , and the University of Wisconsin-Madison ."