For St. Thomas undergraduates who decide to continue to education post-graduation, there are a variety of graduate programs that apply to economic majors. Listed below are several programs, ranging in concentrations.
Another option is to look at attending graduate school in Economics. Because graduate programs are math intensive, we recommend taking three semesters of Calculus, Linear Algebra, and Mathematical Statistics. Additional math courses, such as real analysis or differential equations, can improve your chances of success in the program.
Visit these PhD programs Minnesota, Iowa, and Wisconsin, for example, to learn more about what these programs are looking for. Please speak with your faculty advisor about graduate school so they can guide you through this process.
You also may consider attending the AEA Summer Training Program hosted by Michigan State University, which can help with mathematical preparation before starting graduate school. The program is open to all students, but there is preference for applicants that will increase diversity (gender, race, socioeconomic background) in the field of economics. Applications are due mid-January. The ICPSR Summer Program in Quantitative Methods of Social Research is another great option.
Economics coursework, which emphasizes building and sharpening your analytical skills, prepares students for graduate work in a variety disciplines outside of economics, such as law, business, data analytics, and political science.
- In 2015-16, Economics majors had the highest average LSAT score of the 16 largest majors applying for Law School. In comparison with all majors, Economics (LSAT average score of 158.8) placed only second behind Math/Physics (161.7). (Nieswiadomy, LSAT Scores of Economics Majors: The 2015-16 Class Update)
- Economics majors similarly perform as well on GMAT exams, which are for admission to MBA programs. Only Mathematics, Physics, and Philosophy majors score higher than economics majors do.
- The GRE is the standardized exam for admission for most other graduate program, such as for Data Science, Political Science, and Public Policy programs. Only Mathematics, Physics, and some Engineering majors perform better than Economics majors on the quantitative section.