Economics
Take me to the Department of Economics website.
The Field
Economics attempts to understand the economic choices of individuals, families, firms, and other institutions. How do parents allocate time and other family resources? How do firms decide what to produce and whom to hire? Economists also try to understand the workings of the economy as a whole. What causes inflation, unemployment or inequality? How do regulation and deregulation of industries affect product prices and quality? Why does the cost of medical care rise faster than other costs? The study of economics focuses on a set of principles and methods as well as their application to these questions.
The Major
All majors take courses in microeconomics, macroeconomics, statistics and mathematics. The remaining courses are selected according to a student’s interests and career objectives. All majors take at least four elective courses in methods or applied areas. Students also have the option of substituting a five-course collateral field of courses taken in history, international relations, business management, or political science for two required courses in economics. The department’s faculty represents a wide range of specialties and a wide range of approaches. All faculty, which includes many internationally known scholars, teach undergraduate courses and are accessible to undergraduates. Some first-year and transfer students are admitted directly into the economics major upon entering UMass Amherst; those who wish to change their major to economics must successfully complete three predictor courses: Introduction to Microeconomics, Introduction to Macroeconomics, and Calculus.
The Minor
Students can gain preparation and grounding in a particular facet of economics without fulfilling the full range of requirements of the major. See the economics website for requirements and restrictions.
The Future
Employment opportunities after graduation typically include managerial, sales, and staff positions in many different sectors of the economy, including manufacturing, banking and finance, advertising, insurance, communication, wholesaling, retailing, social service, government, and nonprofit institutions. Other graduates enter MBA programs, law school, or graduate programs in economics. Some do graduate work in other fields; these are typically students with second majors or minors in another discipline.
Study Abroad and Internships
Economics majors benefit by acquiring practical experience. The department encourages students to do internships, to see what being in the field of economics is like and to help prepare for employment or graduate study. Study abroad is encouraged as well. Go to the International Programs Office for details.
More information: Department of Economics; 413.545.0855
