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Economics

Challenge yourself with different ways of thinking about common problems.

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

Why Major in Economics

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.

Student walking up to Burling Library

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.” 

Students studying in Burling Library

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

  • 80% Employment
  • 13% Graduate School
  • 1% Post-Graduate Service
  • 1% Fellowships
  • 0% Continuing Education
  • 5% Other

Employment

100%
Positions related to Career Goals

Positions Related to Career Goals

This graph illustrates the extent to which our graduates' first job is aligned with their career goals. It's one thing to find a job; it's an entirely different thing to land the job you want!

Employer

  • Analysis Group
  • Bloomberg LP
  • Civic Works
  • Federal Reserve Bank of Chicago
  • Mathematica Policy Research
  • McKinsey & Company
  • Morningstar
  • NERA Economic Consulting
  • RAND Corporation
  • United States Department of Treasury
  • Urban Labs, University of Chicago

Graduate Schools

93%
93% Accepted to 1st- or 2nd- choice programs

Graduate School Acceptance Info

Of those who applied to and were accepted to at least one program, this chart illustrates the percentage of admitted students who were accepted to either their first or second choice program and institution.

Institutions

  • Cornell University
  • Georgetown University
  • University College London
  • University of Minnesota
  • University of Virginia
  • Yale University
Explore More Graduate Outcomes
Iowa landscape at CERA
Getting to the Meat of the Matter

If you drive to Grinnell on Interstate 80, you might be inclined to think Iowa’s economy is heavily agriculture-based. Your eyes might deceive you, says Jack Mutti, professor emeritus of economics.

Department Chair

Bradley Graham

Department Information

Phone
(641) 269-4803
Fax
(641) 269-4985

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

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