As of prepared for prepared by - Department of Economics - Iowa - econ iastate 2025

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Students pursuing a degree in economics are social scientists, and they can apply economics to a broad range of disciplines and career paths from personal finance and financial market trends to law, sociology, business management, government regulation and international affairs.
To best prepare for a career in economics, focus on building a strong foundation in mathematics, statistics, and economic theory. Take courses in microeconomics, macroeconomics, econometrics, and financial analysis.
Top 25% US Economics Departments, all authors, all publication years RankInstitutionScore 51 Department of Economics, Iowa State University Ames, Iowa (USA) 52.56 52 Department of Economics, University of Illinois at Urbana-Champaign Urbana-Champaign, Illinois (USA) 53.1672 more rows
Economics teaches you to analyze data, evaluate arguments, and understand complex systems. This enhances your critical thinking skills, which are useful in problem-solving across multiple domains. Economics emphasizes how incentives influence behavior.
In Economics you learn about supply and demand, perfect and imperfect competition, taxation, international trade, price controls, monetary policy, exchange rates, interest rates, unemployment and inflation amongst many other topics to understand individual markets, the aggregate economy and government policies.
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The standard financial aid offer is a half-time (20 hours/week) assistantship paying a stipend of $21,400 per academic year (9-month appointment) for first-year students. Assistantship appointments are renewable annually for 5 years for Ph. D.

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