Do longer prison sentences lower crime rates? Does socialized medicine improve health outcomes? Do lower taxes pay for themselves? Economics affords the intellectual architecture needed to systematically address these types of questions. The economics discipline provides a rigorous framework for modeling how individuals and institutions make decisions, how these decisions shape our society, and how laws and policies can be designed to improve outcomes. This framework is implemented through advanced quantitative analysis, including statistical methods and data science, and can be used, quite simply, to change the world.
An economics degree indicates proficiency in data analysis, the modeling of behavioral patterns, the analysis of business practices, and the assessment of policy issues and challenges. Equipped with problem solving and analytical reasoning skills, undergraduate students in economics pursue careers in business, finance, data-science, law, government and many other paths, as well as advanced degrees in business, economics, law and public affairs. Economics majors also have the opportunity to complete a master's degree in economics in just one additional year following their undergraduate studies.