Program Overview
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. It is divided into microeconomics (individual and firm behavior) and macroeconomics (economy-wide phenomena).
Modern Economics is highly quantitative, utilizing advanced calculus, linear algebra, and econometrics. It is often described as the most 'scientific' of the social sciences due to its reliance on data and mathematical modeling.
Typical Duration
Typical Credit Load
Grading & Evaluation
Economics grading varies by department. In many top-tier universities, the quantitative core (Econometrics/Micro theory) is graded on a strict curve where only the top 10-15% of students receive an 'A'. Conversely, electives may follow a more lenient liberal arts grading scale.
International Recognition
Economics is a global language. A degree from a reputable institution is widely recognized for entry into finance, policy, and data analysis roles. For graduate school (especially PhDs), the 'Grade' in core math and econometrics courses is more important than the overall GPA.
Program GPA Calculator
Estimate how your grades in Economics convert to international scales. We've pre-optimized the settings for this specific degree.
Common Mistakes
- Underestimating the mathematical rigor—many students expect a social science but find a math degree in disguise.
- Assuming Economics and Business are graded the same (Economics is usually more theoretical and strictly graded).
- Ignoring the importance of R/Stata/Python skills which are often part of econometrics grading.
University Guides Related to Economics
Start with these university profiles, then compare local grading rules with your selected program requirements.
Frequently Asked Questions
Is Economics considered a STEM degree in the US?
Yes, many Economics programs (specifically those with a focus on 'Econometrics and Quantitative Economics') are designated as STEM, allowing for OPT extensions.
Do I need a PhD to work in Economics?
For research and policy roles (like the Fed or IMF), a PhD is standard. For private sector roles in finance or consulting, a Bachelor's with a strong GPA is often sufficient.
How do Master's programs view my math grades?
If you have a 4.0 overall but a 'C' in Calculus or Linear Algebra, you may struggle to gain admission to competitive Economics Master's programs.