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Why study Economics?

Students discuss coursework in a classEconomics is the study of how individuals, businesses, governments, and others choose to use resources. Ultimately, it’s about well-being: measuring it, learning how it may rise or fall, and evaluating the well-being of the rich, the poor, and those in between.

Our economics program at the University of Michigan-Dearborn is shaped by the real world. It delves into critical issues like inflation, unemployment, crime, poverty, and global warming, offering potential solutions. The skills you gain, from understanding economic models to applying quantitative analysis to real-world data, will set you apart when you enter the workforce.

Where an Economics Degree Will Take You

The versatility of an economics degree from UM-Dearborn will open up a multitude of career paths. Economists are needed in virtually all sectors, from business and finance to government and nonprofit organizations. Most importantly, you’ll develop critical thinking skills for practical problem solving, making you invaluable to a wide variety of employers.

Career and Salary Outlook

The information in this table is meant to give you an idea of career opportunities with this degree. All information is pulled from the Bureau of Labor Statistics, and is meant to be averages across the United States for 2022. Please note that these figures reflect overall averages and may not represent entry-level salaries.

$115,730 Median Salary

Economists (master’s usually required)

Employment of economists is projected to grow 6 percent from 2022 to 2032, faster than the average for all occupations.

About 1,200 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

$99,890 Median Salary

Financial Analysts

Overall employment of financial analysts is projected to grow 8 percent from 2022 to 2032, faster than the average for all occupations.

About 27,400 openings for financial analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

$120,000 Median Salary

Actuaries

Employment of actuaries is projected to grow 23 percent from 2022 to 2032, much faster than the average for all occupations.

About 2,300 openings for actuaries are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

$104,860 Median Salary

Mathematicians and Statisticians (master’s usually required)

Overall employment of mathematicians and statisticians is projected to grow 30 percent from 2022 to 2032, much faster than the average for all occupations.

About 3,500 openings for mathematicians and statisticians are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

$74,680 Median Salary

Market Research Analysts

Employment of market research analysts is projected to grow 13 percent from 2022 to 2032, much faster than the average for all occupations.

About 94,600 openings for market research analysts are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

Program Details

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Application Deadlines

UM-Dearborn has rolling admissions throughout the year, and deadlines depend on your student type. Apply early, priority consideration for financial aid and scholarships may be given to earlier applicants.

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Tuition

Get started early on your financial planning for college. Complete the net price calculator to get an estimate of your cost to attend UM-Dearborn.

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Go Blue Guarantee

Students at UM-Dearborn are eligible for the Go Blue Guarantee - University of Michigan’s landmark promise of free tuition for high-achieving in-state undergraduate students from qualifying backgrounds. Major financial support is available for students who do not fully qualify.

Go Blue Guarantee

Economics at UM-Dearborn

With a major in Economics from the University of Michigan - Dearborn you will embark on a journey through economic theories and real-world applications that will empower you to make real and lasting change to the world around you.

How to Get Involved

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At UM-Dearborn, there are endless opportunities to get involved. You can join the Economics Club, participate in research projects with your professors, explore general student organizations devoted to a wide range of interests and topics, and much, much more.

Next Steps

Become a part of the UM-Dearborn community and put your dreams to work for you.

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