Economics

Skills Every Economics Major Should Learn Before Graduating

Now that I’m in my final year of my undergraduate career, I’m finding a lot of things I wish I would have at least been told about early on. I often find job postings that require skills that I don’t even learn in college unless I take a class that isn’t in the economics department or take the time to learn it on my own. Personally, I believe that advisors should be more upfront about this and should also be more proactive in asking about a student’s career aspirations. Until this happens, here’s a list of skills (based on my experience) that economics majors should start working on immediately, even if they’re a freshman or senior.

Most, if not all, of these skills will make you more competitive in many fields. But they are absolutely essential for many jobs in finance, research, analytics, and data management.

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The Economics Behind Price Gouging

With all the hurricanes lately, I’ve seen plenty of people get upset about price gouging in areas where people are evacuating and/or areas where people are hunkering down. Based on what I’ve seen, most people find the practice immoral, especially when there’s a crisis. It seems to be that people don’t quite understand why price gouging is actually the moral thing to do in times of a crisis. Hopefully, my personal experience in Oregon with the wildfires will shed some light on this.

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Why the University of Washington’s Study on Seattle’s Minimum Wage Increase is Not Flawed

Late last month, a team of economists at the University of Washington released their findings on the past couple minimum wage increases in Seattle. Unsurprisingly, this was covered by just about every news outlet. To my surprise, many are divided over what the Seattle economists found. Economists at UC Berkeley did their own study and had different findings. This led to a lot of people, including economists, calling the University of Washington’s study flawed. The only problem is that their study isn’t as flawed as critics claim.

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Will Millennials Cause Deflation in the Housing Market?

Lately, there have been a lot of articles written about millennials. Some have hit pretty close to home for me, seeing that I am a millennial. But I decided to dig a little deeper to see what exactly the future may hold for me when I finally finish my bachelor’s degree at the University of Oregon. I was startled by the price of homes around the Pacific Northwest, my desired region to live in. Sadly, this will cause not only myself, but many other millennials, to rent an apartment. After a while of thinking about the demand shock that this will likely cause, it started to beg the question: Will millennials cause a little deflation in the housing market?

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You Don’t Need an Advanced Degree to be an Economist

I have been told by several people that a PhD in economics should only be pursued for one of two (if not both) reasons: You will regret it if you don’t or you want to teach at a four-year university. Based on my education and what I’ve seen concerning graduate school, this pretty much seems to be the case. Why, then do so many people believe that an economist needs a master’s degree at the very least? A lot of it has to do with the fact that people don’t really know what they’re talking about.

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The Bombshell in Donald Trump’s 2005 Tax Return

Last night, Rachel Maddow from MSNBC did an exposé on President Trump’s tax return from 2005. During the election, Mitt Romney claimed that Trump was hiding a bombshell in his tax returns. Thanks to Rachel Maddow, a bombshell was found. Perhaps it wasn’t the bombshell we were all thinking it would be. As Rachel Maddow found out, the problem with political bombshells is that you could wind up blowing yourself up if you play with them.

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How Much is Enough to Have in Your Checking Account?

Recently, I wrote an article about how much is really enough to have in our savings accounts. After thinking about it, I thought to myself, “How much should we have in our checking accounts?” After talking with some people about it, it’s become apparent to me that many people think it should be similar to the minimuim they keep for their savings account.

If you read my last article, you know that your minimum savings should be equal to all of your living expenses plus necessity expenses for each month that it usually takes you to find another job. This is a bit much to require yourself to have in your checking account as well. If you can do it, more power to you. For the rest of us, the idea revolves around purchasing power.

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