College of Liberal Arts & Sciences


What is Economics?

Economics is the study of creation, consumption, and transfer of wealth. The major includes two major areas: microeconomics and macroeconomics. Microeconomics focuses on how individuals and firms produce and consume goods and services. Macroeconomics is concerned with mass economic progress and international trade. As a student in Economics, you’ll learn about markets and how capital moves, is gained and lost, and transfers among individuals. You’ll gain an understanding of the numbers and theories behind economics. With this understanding, you can use quantitative skills like calculus and statistics to solve economic issues. These issues include the use of:

  • Natural resources
  • Government fiscal and monetary policy
  • Health care markets
  • Development of human capital

If working with others to solve issues caused by scarcity sounds interesting, Economics may be right for you.

Career Options

  • Accounting
  • Consulting
  • Financial analysis
  • Management
  • Merchandising
  • Recruiting
  • Risk management
  • Sales
  • Technology

Post-Graduation Success1

82% employed or continuing education

61% employed after graduation

21% attending graduate school

$53,419 average starting annual income

Sample employer destinations: Allstate Insurance Company, Aon Hewitt, Epic Systems View All

Sample grad school destinations: University of Illinois at Urbana-Champaign, Columbia University, New York University View All

Review Criteria

First-Year Major-Specific Criteria

  • Calculus preferred (if available at high school)
  • Demonstrated understanding of and interest in the major

View All Review Criteria

Transfer Criteria

Transfer Guide

Graduation & Retention2

4.1 years to degree

92% first-year retention rate

70% four-year graduation rate

83% six-year graduation rate

Annual Program Costs3

Illinois Resident

  • Tuition: $15,250
  • Fees: $4,928
  • Expenses: $18,222
  • Total: $38,400


  • Tuition: $34,370
  • Fees: $4,928
  • Expenses:$18,562
  • Total: $57,860


  • Tuition: $36,818
  • Fees: $4,928
  • Expenses: $18,562
  • Total: $60,308