Why Economics

four econ students in Urban Researchlab

Economics is not a dismal science and don’t let anyone convince you that it is.  How can it be when it helps explain the way the world works and so much of what we do as individuals and businesses.  Those who major in Economics are trained to think critically about everything.  Because Economics is a social science, we cannot stop the world and try an experiment.  Instead, we develop a theory of how the world works and then go about testing the validity of the theory.  We build statistical models and rely heavily on good data to give us answers to important questions.  The analytical tools we need can be learned with a little math and statistics.

According to Forbes.com. Economics was No. 2 on the list of most lucrative majors (the others in the top five were engineering degrees).  There is nothing ‘routine’ about economics and its excitement lies in its applications.  We students of economics are forever learning new ways of thinking about the world.  At UMKC, we teach the mainstream/standard economics theories and how they have been applied.  However, we also give students an opportunity to challenge the status quo by looking beyond the constraints of the standard model and search for new/better ways to explain the world.  Our students are exposed to the latest analytical techniques that are useful for whatever hypothesis is being studied.  In the world of ever-increasing information and Big Data, an economics degree fits very well.  After all, someone needs to analyze all of that data!

Our economics degree opens doors to many fields.  Our graduates have earned positions in investment firms, consulting firms, healthcare organizations, real estate, banks, and government offices such as the FDIC, Federal Reserve Bank, KC Mayor’s office, KC Economic Development Council and many more.   Economists work alongside accountants, engineers, computer scientists, educators, developers, business executives, politicians and others, providing research, analysis and consulting advice and thereby helping to steer the enterprise toward more-informed decisions.

So, why major in Economics at UMKC?  We are unique in our approach to the study of economics.  Once past the introductory and intermediate micro and macro courses, our class size is relatively small.  You will have an opportunity to work closely with faculty members on various research projects and then present your work at the undergraduate research forum held on campus every year.  Our students all have an opportunity to complete an internship with a local business, thereby getting hands-on experience while earning credit toward their degree.  Finally, the UMKC Department of Economics was recently named the Best Economics Department in Missouri by Zippia, online career expert website.  Come study with the best!

Learn more about the programs offered in the UMKC Economics Department: