Students interested in microeconomic theory and the application of the economic way of thinking in business, the analysis of industries, and careers in business and business-related fields should consider this course of study. The major emphasizes quantitative analysis, written and oral communication, computing, quantitative methods, and other research skills. Research focuses on general statistical analysis and case studies.
Students majoring in Applied Economics who complete all requirements earn the degree of Bachelor of Science (B.S.) in Economics.
Areas of Study
Pursuing a degree in applied economics allows majors to study microeconomics; macroeconomics; and industrial, environmental, health, urban, and regional economics. Among the courses you may take are economics of social issues; poverty, affluence, and equality; government and business; money and banking; public finance; philanthropy; the history of economics; and investment analysis. You’ll learn data collection and qualitative data analysis, statistical and econometric analysis, computer skills, math skills, and more.
Applied economics majors gain a thorough understanding of the principles of economics at UMW. Graduates hold such positions as analyst for the Bureau of the Census, CEO of Animators at Law (a provider of litigation support services in graphics and technology), claims investigator for Geico Insurance, accountant and trader for Sempra Energy Trading Corp., economics teacher in the Peace Corps, investment broker at A.G. Edwards & Sons, and researcher with the Federal Deposit Insurance Corp.
UMW’s proximity to Washington, D.C., and a supportive local business community create many diverse internship opportunities. Students have benefited from internships with such companies as SunTrust Mortgage, Edward Jones Investments, the Washington Capitals, CNN’s Crossfire, Booz Allen Hamilton, the Environmental Protection Agency, Prudential Securities, the First Nations Development Institute, Paine Webber, and the Virginia Credit Union.
To be eligible for departmental honors in economics, a student must complete the major with a minimum 3.5 GPA in the major and successfully write an honors thesis.
The applied economics major requires 39 credits, including nine core courses and four electives.
Numerous scholarships and awards are available for economics majors. Among them are the James Harvey Dodd Award for a junior economics major based on financial need and academic achievement. The Adam Smith Award is given to a graduating senior based on potential for graduate study. The Fred E. Miller Memorial Scholarship is awarded to a rising junior or senior who is double-majoring in economics and business administration. The Richard George Allgaier Scholarship is awarded to economics and accounting majors. Learn more about economics scholarship opportunities.