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 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

81% employed or continuing education

62% employed after graduation

18% attending graduate school

1% volunteering

$52,020 average starting annual income

Sample employer destinations: Aon Hewitt, Aon, Northern Trust Corporation

Sample grad school destinations: University of Illinois at Urbana-Champaign, Johns Hopkins University, Columbia University

Academic Profile Middle 50% 2

28 - 33 ACT Score

1350 - 1480 SAT Score

3.33 - 3.81 High School GPA

Annual Program Costs

Illinois Resident

  • Tuition: $12,036
  • Fees: $4,174
  • Expenses3: $15,180
  • Total: $31,390


  • Tuition: $29,178
  • Fees: $4,174
  • Expenses3: $15,520
  • Total: $48,872


  • Tuition: $31,552
  • Fees: $4,174
  • Expenses3: $15,520
  • Total: $51,246