Why it Pays to Major in Economics

Thomas Carroll, Djeto Assane and Jared Busker

The Journal of Economic Education, 2014, vol. 45, issue 3, 251-261

Abstract: In this article, the authors use a large, recent, and accessible data set to examine the effect of economics major on individual earnings. They find a significant positive earnings gain for economics majors relative to other majors, and this advantage increases with the level of education. Their findings are consistent with Black, Sanders, and Taylor (2003), documenting that about two-thirds of the bachelor's degree premium for economics majors can be attributed to the type of job economics majors perform, and about one-third is a premium that economics majors earn over other workers within the same job.

Date: 2014
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DOI: 10.1080/00220485.2014.917906

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