Economists study how society distributes resources, such as land, labor, raw materials, and machinery, to produce goods and services. They conduct research, collect and analyze data, monitor economic trends, and develop forecasts on a wide variety of issues, including energy costs, inflation, interest rates, exchange rates, business cycles, taxes, and employment levels, among others. Economists develop methods for obtaining the data they need. Preparing reports, including tables and charts, on research results also is an important part of an economist's job.
Economics is often considered an ideal pre-professional undergraduate degree. Over half the students pursuing an undergraduate degree in economics will continue into professional programs, which include law school, MBA programs, graduate programs in finance, or doctorate programs in areas such as marketing, management, economics or finance. Economics graduates not not seeking advanced professional degrees often work in banking, insurance, management, economic development enterprises, regulation, government, or international business relations.
PLAN OF STUDY
WHAT YOU WILL LEARN
A degree in economics can provide you with the knowledge necessary to view and describe society and organizations from an analytical perspective. Economics combines the foundation knowledge from business with the social sciences in an effort to understand human behavior not only by using psychology and sociology, but also by studying society through mathematics, statistics, and historical analyses. Economics majors learn to make cost-benefit decisions and to apply policy analysis based on qualitative and quantitative research. Ultimately, economic models help students analyze complex issues. Critical thinking is a prerequisite to clear writing and oral presentation. Economics helps develop the ability to organize thoughts and to write professionally for both technical and non-technical audiences. These are essential skills in any occupation that can readily transfer to various careers and are valuable assets for professional degrees in law and business.
The Economics Club is an organization that meets twice a month to informally discuss current issues in economics. The organization has received multiple grants from the Koch Foundation, which provides funding for reading materials, lunches, guest speakers, travel, research support, and miscellaneous other activities. The club allows students interested in economic issues to share ideas with peers and faculty members outside of the classroom environment.
Omicron Delta Epsilon (ODE), the International Honors Society for Economics students, was established at West Texas A&M University in 1970. West Texas A&M University is host to the Nu chapter of ODE. Admission to Omicron Delta Epsilon is recognized on the academic transcript of inductees at West Texas A&M University.
As an AACSB accredited business school, the College of Business is eligible to pursue Beta Gamma Sigma (International Honors Society for Business students).
Students in Free Enterprise (SIFE) is a student organization in the College of Business. SIFE uses a business mindset and an entrepreneurial approach to improve the quality of life and standard of living of people in need and help businesses achieve profitability.
The College of Business supports an annual summer study abroad trip, which focuses on business and cross-cultural issues. Locations include Denmark, Sweden, England, Russia, Germany, Austria, Switzerland, and Cananda.
Average wage (TX) - $66,360
Average wage (US) - $67,230
Government Examiner & Regulator
Average wage (TX) - $55,200
Average wage (US) - $55,200
Average wage (TX) - $57,820
Average wage (US) - $58,780
Average wage (TX) - $40,930
Average wage (US) - $40,930
Average wage (TX) - $67,840
Average wage (US) - $63,210
Average wage (TX) - $49,900
Average wage (US) - $49,900
Average wage (TX) - $39,200
Average wage (US) - $39,130
Wholesale & Retail Buyer
Average wage (TX) - $58,030
Average wage (US) - $55,840
Wage information taken from http://wtamu.myplan.com