The fast-paced global economy of the 21st century demands innovative, forward-thinking leaders. Economics majors and minors at RMC learn the essential skills for analyzing and understanding economic problems in a variety of contexts. Our comprehensive curriculum provides a solid foundation in macro and micro concepts and statistics, and develops important skills in analyzing, reporting and understanding economic data. You’ll graduate well-prepared to contribute to all business environments, and with an excellent foundation for future graduate studies in economics, business, public policy, and law.
Major/Minor Economics
Economics
up close In and Beyond the Classroom
high-impact internships
Economics students gain critical business skills in internships at values-aligned businesses and organizations. This first-hand experience is not only beneficial for future employment and graduate studies, but also helps you expand your knowledge and apply classroom learning in a real-world setting. Recent RMC economics majors interned at:
- Northwestern Mutual
- Chmurra Economics
- Chain Bridge Bank
mentored research
As a Randolph-Macon economics major, you are also encouraged to expand your knowledge and pursue research areas of personal interest with the support of a faculty mentor in either semester-long research opportunities or through the Schapiro Undergraduate Research Fellowship (SURF) summer program. Examples of recent economics research projects include:
- Hannah Mercer ’19 – “The Neglected Gender Dimension of Brain Drain,” supervised by Dr. Steve Lang
- Tyler Dunn ’21 – “Competitive Balance in Pro Sports During the COVID Seasons,” supervised by Dr. Steve Lang
- Melissa Pritchard ’21 – SURF project, “The Quantitative Relationship between Maternal Education and Child Nutrition in Pakistan,” supervised by Dr. Melanie Fennell
- Luna Tran ’17 – SURF project, “The Acceptance of the Vulnerable: Explaining the Employment Situation and Poverty of People with Disabilities in Cambodia,” supervised by Dr. Melanie Fennell
global education
The interconnectedness of the global economy comes to life in travel courses, led by RMC professors abroad. In Britain in the International Economy (ECON 383), Randolph-Macon students explored economic theory from a British perspective while staying full-time at RMC’s partner institution in England, Wroxton College. Students studied international trade theory and finance focusing on the development of the European Union and the theory of optimal currency as it relates to the EURO.
ADVISING AND MENTORSHIP
You’ll learn from experienced economists who are also mentors and know you by name to support you in pursuing your future career or graduate studies. Whether working through a thorny statistics question or presenting original research at an international conference, you’ll get up-close to RMC’s outstanding economics faculty.
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40%of people in economics-related job positions have a bachelor’s degree in economics
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22%of all economists work for the U.S. government
Economics
in full Courses You Won’t Want to Miss
(A very small sample)
ECON 340
Urban Economics
Apply the analytical tools of microeconomics to model the spatial and economic organization of cities and metropolitan areas. The model is then used to study issues facing cities such as urban transportation, housing, poverty and segregation, and urban public finance.
ECON 382
International Economic Development
Through an economic lens, analyze problems and policies to improve economic development in less developed countries. Use economic theories and empirical evidence to compare and contrast different growth experiences, development levels, and economic development challenges across countries.
ECON 312
Econometrics
Complete a semester-long research project by applying statistical techniques to economics data. Analyze data sets and use regression analysis and hypothesis testing, including the Ordinary Least Squares technique.
Clubs and Other Opportunities
Popular activities and programs among economics majors
Omicron Delta Epsilon
International Honor Society in Economics
Phi Beta Lambda
Student professional organization
From Here To What you can do with an Economics degree from RMC.
Melissa Pritchard ’21
Analyst
Virginia Economic Development Partnership
“During my time at RMC I completed a year-and-a-half long internship at an economic consulting firm in Richmond, as well as a SURF Project with Dr. Fennell. The professors at RMC were and continue to be great mentors, and my experiential and classroom learning gave me the skills I needed to be successful in a dynamic and fast-paced career in economic development. RMC is the best place to garner a diverse set of experiences and learning that sets up students for success in their careers.”
Richard Gearhart ’07
Associate Professor of Economics
California State University Bakersfield
Fidele Ntumba ’18
Private Equity Associate
ICV Partners
TRENT WALKER ’15
Manager, Financial Accounting Advisory Service
Ernst & Young
Tyler Dunn ’21 MBA
Associate Wealth Management Advisor
PB Mares Wealth Management LLC
Bridget Maas ’20
Student
University of Richmond Law School
Hannah Mercer overby ’19
International Program Specialist
Virginia Economic Development Partnership
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