Contact Information

Robert Jantzen
Department Chair

Email: rjantzen@iona.edu
Phone: (914) 633-2731

Office Hours:
Monday 11:00 am - Noon
Wednesday 11:00 am - Noon
and 5:30 - 6:30 pm

Why Major in Economics?

Why Major in Economics?

Studying economics provides you with many of the skills employers and graduate programs value highly, namely:

  • the thinking skills that are essential to success. Economics teaches you how to make decisions in a careful, precise and logical way.
  • the quantitative skills that are important in many business and government positions.
  • the writing skills necessary in almost all lines of work.
  • the ability to think critically about the ethical and moral implications of choices made by individuals, businesses and governments.

Economics majors are 250% more likely to become a CEO of an S&P 500 company than students who major in business. In fact, economics beats all other majors, including physical sciences and political science, as a path to the corner office (Source: Flynn & Quinn, 2010).

Business Week magazine also reports that economics is the second most popular college major among the nation's top 1000 CEOs, second only to engineering.

An Economics Degree is a Better Route to Grad School

Economics majors average higher scores on the GMAT (used by MBA programs) than all business majors. They also score higher than all non-business majors, except engineering, math and science majors (Source: Nelson & Monson, 2008).

Economics majors are also consistently in the top 3 majors in terms of LSAT scores (used by Law schools). In 2009, Economics and Philosophy majors tied for first on the LSAT (Source: Nieswiadomy, 2010).

Economics Majors Earn More

Professionals that have graduated with a bachelors degree in Economics fare "best in the labor market" according to Pay Scale Inc.

Undergraduate
Major
Starting
Median Salary
15 Years After
Graduation
Accounting $46,000 $77,100
Business Management $43,000 $72,100
Economics $50,100 $98,600
Finance $47,900 $88,300
History $39,200 $71,000
Industrial Engineering $57,700 $94,700
Information Technology $74,800 $49,100
International Relations $40,900 $80,900
Management Information Systems $49,200 $82,300
Marketing $40,800 $79,600
Math $45,400 $92,400
Mechanical Enginerring $57,900 $93,600
Political Science $40,800 $78,200
Psychology $35,900 $60,400
Sociology $36,500 $58,200
Data from 2008, PayScale Inc.

Notable Economics Majors:

  • Ted Turner, CEO, CNN/Braves/Hawks
  • Steve Ballmer, CEO, Microsoft
  • Scott McNealy, CEO, Sun Microsystems
  • Meg Whitman, CEO, Ebay Technologies
  • William Harrison, Jr., CEO, JP Morgan Chase
  • John Sweeny, President, AFL-CIO
  • Donald Trump, Real Estate/TV Mogul
  • Warren Buffet, Business Financier
  • Sam Walton, Founder of Wal-Mart
  • Henry Kravis, Business Financier
  • Robert Diamond, CEO, Barclays Capital
  • Presidents Gerald Ford,
  • George H.W. Bush, & Ronald Reagan
  • Arnold Schwarzenegger, Governor
  • Mike Mussina, MLB Pitcher
  • Tiger Woods, PGA Golfer
  • Roger Goodell, NFL Commissioner
  • Mick Jagger, Rolling Stones

What Subject Areas are in the Economics Major?

  • Managerial Economics - Profits, Pricing, Risk,
  • Employment, Tech & Competition
  • Statistical Analysis & Forecasting
  • Financial Markets - Banking, Stocks, Bonds,
  • Derivatives & Central Banking
  • Economy Wide Performance & Stabilization
  • Government Finances - Taxes, Spending & Debt
  • International Trade and Finance
  • Economic Philosophies
  • Area Studies - Health Care, Environment,
  • Development & Investments

For more information, contact
Dr. Jantzen, Chair
Department of Economics
Iona College
715 North Avenue
Dr. Robert Jantzen
(914) 633-2731

Students interested in a major or minor in Economics should see an advisor or member of the Economics Department faculty about meeting the requirements.

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