Student taking notes on paper during class

Economics

Fuel, food, water, time — resources that society needs but that can be in short supply. By studying economics, you’ll learn to think critically about individual and collective decisions over the use of resources and how these decisions can transform societies, for better or worse. From poverty to pollution, import tariffs to procrastination about saving for retirement, students in economics use intuition, math, and data to build and test models about everyday choices made by individuals and firms in a variety of settings.

In coursework, students engage in economic modeling and applied research. In doing so, you’ll learn to express your ideas clearly and know how to back them up with evidence. You will be well prepared for graduate study not only in economics but also in law, public affairs, health and business administration, and other social sciences and for careers in public policy, business, finance, data science, journalism, and more.

Students:

Add yourself to the Department of Economics email list

Critical Thinking

Economics is about choices and decision-making across a variety of settings.

In the economics major, you’ll learn to think critically about individual and collective decisions around the use of scarce resources that society needs, but which are often in short supply. We explore the interplay between actors in social settings and investigate how these decisions impact others and can transform societies, for better or sometimes worse.
The Power of Modeling

Economists understand the world through models and data.

Economic arguments are developed and refined through models. The power of observation, the use of intuition, and the application of mathematical reasoning is formalized in economic models. These models are paired with careful measurement and use of data to evaluate the causal influence of one factor on another. By engaging in applied research, students learn to express their ideas clearly and how to back up their ideas with evidence.
Postgraduate Success

A degree in economics prepares you for many different vocations.

You will be well prepared for graduate study not only in economics, but also in law, public affairs, health and business administration, and other social sciences and for careers in public policy, business, finance, data science, journalism, and more.

people adding items to a giant recycle bin

Because Econ Is Awesome

Cora Touchstone ’19, a transfer student from Georgia, lights up when asked what she likes about econ. “It's awesome,” she says with a grin. “It’s this cool dynamic — a social science infused with STEM that allows you to create mathematical models of society.”

illustration of people working with giant gears

To Combine Disciplines

Pranjal Drall ’20, from New Delhi, India, was into physics and math when he first stepped on campus. But he was also interested in public policy, so during the second semester of his first year, Drall took Intro to Economics.

illustration of money and a bar graph going up

Investing, Investing, Investing

Henry Gray ’20 wakes up thinking about investing and goes to sleep thinking about investing. Since high school, he knew he’d major in economics. But one of the ways he learned about Grinnell was through reading about Warren Buffett, the legendary investor and CEO of Berkshire Hathaway in Omaha, Nebraska.

What It’s Like to Do Research in Economics

If you’re thinking about studying economics, make sure you take a look at the economics seminars Grinnell offers. Not only do you have a wide range of topics to choose from — 2 are required for majors — but in each seminar, you’ll do a deep dive into a research project of your choice, with your professor right there beside you.

We checked in with 2 econ majors, recent grads, about their seminar research experiences.

Finding a Research Focus

Of the 8 different economics seminars offered during the 2017–18 school year, the Seminar in Economic Development, taught by Tamara McGavock, assistant professor of economics, was Duy Duong ’18’s first choice. “I've always been interested in global development issues,” he says. “How to frame that in an econ context is something that I'm particularly interested in.”

When Research Interests Overlap and Intersect

As an economics and political science double-major, Lucy Bales ’18 is “especially interested in the potential policy applications of economic theory.” She took Economics of Crime with Logan Lee, assistant professor of economics, and Law and Economics with Brad Graham, associate professor of economics.

Economics Career Outcomes

First Destinations

81% Employment
13% Graduate School
1% Post-Graduate Service
1% Fellowships
0% Continuing Education
4% Other

Employment

100%

Positions related to Career Goals

Employer

Analysis Group
BNY Mellon
Chipper Cash
Deutsche Bank
Federal Reserve Bank of New York
International Monetary Fund
NERA Economic Consulting
United States Department of Treasury
Yelp

Graduate Schools

85%

85% Accepted to 1st- or 2nd- choice programs

Institutions

Columbia University
Northeastern University
University of Iowa
University of Massachusetts
University of Sussex
University of Virginia
Yale University

Explore More Graduate Outcomes

Department Chair

Bradley Graham

grahambj@grinnell.edu

Department Information

Phone

(641) 269-4803

Fax

(641) 269-4985

Humanities and Social Sciences Center
1226 Park Street
Grinnell, IA 50112
United States

Economics

Challenge yourself with different ways of thinking about common problems.

Why Study Economics?

Economics is about choices and decision-making across a variety of settings.

Economists understand the world through models and data.

A degree in economics prepares you for many different vocations.