Economics is the study of the allocation of scarce resources. It’s a social science primarily involved with the production, distribution, and consumption of goods and services. Studying Economics helps students examine global and social issues such as trade, the environment, poverty, growth, regulation, and unemployment.
Economics majors go on to work as economists, data analysts, financial risk analysts, financial consultants, researchers, actuaries, and financial planners; but it is worth noting that Economics is commonly regarded as a major that lends itself to a variety of potential career paths.
There are many liberal arts colleges that offer strong Economics programs. Our list is comprised of schools with unique offerings, and as always does not rely on rankings.
Williams:
Economics is the most popular major at Williams. In addition to a traditional Economics major, there is also a major in Political Economy, which combines economics and political science with a focus on public policy. The curriculum was created for a wide variety of students – introductory courses for those who are potentially interested in majoring in Economics, core courses in econometrics and economic theory, numerous electives, tutorials, and research and writing heavy senior seminars. There is a focus on research, and Williams has a seminar series where department members present their findings.
Washington and Lee:
The Williams School of commerce, economics, and politics is one of two undergraduate divisions at Washington and Lee. Washington and Lee was one of the first liberal arts colleges to create a business school (the Williams school was established in 1905) and there are 50 full-time faculty members working there. The Economics department plans trips to Washington D.C. for students to look into career opportunities, and students can apply to do research with faculty members during the Summer Research Scholar program. Students are encouraged to take courses outside of Economics during their time at W&L, and while there are no concentrations, the website offers suggested courses broken out by the following interests within the field: public policy, international development, and environmental studies.
Pomona:
Pomona offers both an Economics major and minor. But what makes this small liberal arts college stand out is that Economics can also be selected as a concentration in the following majors: environmental analysis; public policy analysis; philosophy, politics and economics; and gender & women’s studies. So if you’re interested in the intersection of economics with broader fields such as public policy and/or gender studies, the program is worth considering.
Amherst:
All Economics majors at Amherst start by taking Economics 111, a survey of current economic issues and problems and an introduction to the basic tools essential for all areas of economics. After that requirement is fulfilled, the flexibility of the program kicks in. You’ll take a total of 9 full semester courses in Economics, the core theory courses, and at least one upper-level elective – all at Amherst. And then students have access to taking elective courses at any school within the five-college consortium.
Claremont McKenna:
The Economics program at Claremont McKenna is loved by students for the flexibility of the curriculum. You can customize your course load based on your interests, and work with an advisor to find suitable courses that you’re interested in. The elective courses are broken out by special interest; economic theory; quantitative methods; Monetary, Fiscal, and Financial Economics; International and Developmental Economics; Economic and Legal Organization; Labor, Demographic, and Resource Economics; Public Sector Economics; and Managerial Economics. It is also possible to choose a few areas of specialization and tailor your course load according to your interests – as long as you get approval from an advisor.
Swarthmore:
In addition to courses and research opportunities similar to the rest of the schools on our list, Swarthmore is home to the newly establish Visible Hands in Economics program. The program hosts study halls for students to collaborate and work on problem sets, discuss economic concepts, and meet other students who are interested in economics. The meetings are focused on introductory economic topics, and the space is meant for students who are interested in learning more about the field. It’s a great resource for anyone who is considering majoring in Economics, and also those who are hopeful to become TA’s. At Swarthmore, you’ll also find the Social Sciences Quantitative Laboratory, which hosts workshops centered around Economics, Political Science, and Sociology/Anthropology.
Tufts:
Tufts offers a major in Economics, a minor in Economics, and a major in Quantitative Economics. There are two student organizations; the Tufts Economics Society and the Tufts Financial Group. A vast majority of students at Tufts are involved in extracurriculars, and Economics majors are no different. The Economics society has a research initiative where four teams are working on projects in the areas of labor economics, portfolio management theory, derivative instruments, and enterprise growth in Egypt. You can also join the initiative and pitch new ideas of your own, and gain access to the job and internship support offered by the organization.
Bowdoin:
The breadth of Bowdoin’s program is quite impressive: along with more traditional areas such as micro and macroeconomics, students can take courses in the areas of environmental economics, labor economics, game theory, industrial organization, financial markets, Marx, business cycles, public finance, poverty, international trade and finance, econometrics, development economics, economic history, economics of technology, demographic economics, and law and economics. As a sophomore, Bowdoin students pick a faculty advisor (most pick based on area of interest/expertise) who will act as your point person for choosing classes, research, and off-campus study. Students are encouraged to do research, and departmental honors are given to the most promising work.
Colgate:
At Colgate, all students begin with Econ 151: Introduction to Economics. It’s a required prerequisite course that serves as a gateway into either a major in Economics, an Economics minor, a Mathematical Economics major, or a major in Environmental Economics. The Environmental Economics major explores the relationship between the economic system and the natural environment, and there are not many similar (stand-alone) programs of this kind at other liberal arts colleges.
If you need help deciding whether or not a liberal arts education is for you, contact us here.