Benefit of an Economics Minor
College students might opt for a minor in economics to help them be better prepared for their career, diversify their resume and develop a deeper understanding of economic issues facing everyone. An economics minor is a way for students to learn critical economic issues in less time than it would take to major in the subject.
1 Specialization
An economics minor is a good option for political science, journalism, communications, education, finance, management or any students who need to learn how economics affects their industry, reports the University of Washington Tacoma. Economics minors would have a better understanding of how their line of study is affected by occurrences such as the economic downturns or recessions. For example, political science majors would gain a deeper understanding of issues affecting voters and political policies.
2 Increased Job Prospects
An economics minor prepares colleges students for a competitive job market, where many new graduates are likely to leave college with the same major, states "The New York Times." An economics major can help further qualify applicants for a specific position, particularly in areas of business, global marketing or engineering, according to Florida International University. Career changers might also benefit from an economics major if jobs in their major become unavailable, because they would be better prepared for a wide variety of economic-related careers.
3 Graduate School
Specializing in economics is a good option for college students who are planning on going to graduate school. According to a "New York Times" article, graduate school admissions departments often look favorably on a student’s decision to pursue a major in an area such as economics or business. Northwestern University encourages students to choose a minor such as economics to demonstrate to graduate programs their knowledge of issues affecting all industries and lines of study.
4 Better Informed Citizens
A minor in economics prepares students to be a more informed citizen and better-prepared consumer. According to Missouri State University, an economics minor is a good choice for all students, regardless of major, because it prepares students for issues facing everyone in society. Students with an economics major will become better informed to make voting and purchasing decisions. They will develop a better understanding of their part in the global economy.
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