Economics studies how humans make the most efficient use of scarce resources to produce and distribute goods and services to meet human needs. The discipline covers various economic activities, principles, and theories, typically divided into "Macroeconomics" and "Microeconomics." For example, economics explores phenomena like supply and demand, inflation, exchange rates, and interest rates, focusing on how these factors affect economies. The field tends to be theoretical, and students usually need a solid background in mathematics.
Economics can be divided into several branches, including but not limited to macroeconomics, microeconomics, econometrics, and development economics. Each branch delves into different aspects of economic theory and application.
Admissions for economics programs highly emphasize math performance and advanced economics coursework. For instance, the University of Pennsylvania's Economics Department requires students to take AP Macroeconomics and Microeconomics or their equivalent (Econ 0100 and Econ 0200). For IB students, a score of 6 or higher in Higher Level Economics is required. UC Berkeley expects applicants to have completed courses in macroeconomics, microeconomics, calculus, and statistics. If you're aiming for top-ranked universities, having a strong foundation in high school math, statistics, and economics courses is essential. Economics is also a popular major, often chosen by students who want to apply to business schools but shift to economics due to intense competition in business programs. Most economics programs do not offer a master's degree—only undergraduate and PhD options—highlighting the theoretical nature of the subject.
Graduates in economics can pursue careers in finance, as investment analysts or market researchers, or work in consulting firms, particularly in management consulting roles. Additionally, they may find opportunities in NGOs and international organizations like the World Bank or the International Monetary Fund, as well as in government agencies. However, job prospects in economics are closely tied to the prestige of the school; graduates from top universities tend to have better job opportunities, while those from lower-ranked schools may face more challenges.
Education as a field doesn’t equal to traditional teacher training. It has various subfields, such as Educational Statistics, Educational Policy and Management, Early Childhood Education, Special Education, Educational Psychology, and Educational Technology. These subfields vary in terms of job prospects, with some being easier to find employment in than others, which we will explore further.
Generally, education is considered a relatively easy field to apply for. There are no specific or highly specialized admission requirements beyond those of the university’s general application criteria.
For those studying teacher education (teacher training), it’s not difficult to find a job, as there is currently a significant shortage of teachers. But, we all know that salaries for teaching positions aren’t high. On the other hand, certain education subfields offer better job prospects and salaries, such as Educational Statistics and Educational Psychology. For example, the starting salary for educational psychologists is around $66,000. In summary, while teaching positions are in high demand but offer lower pay, certain specialized areas in education provide both solid employment opportunities and competitive salaries.
Communication has several branches. There is journalism (in some schools, journalism is a separate major), media or mass communication, and interdisciplinary fields that intersect with advertising and public relations.
Communication requires strong language skills, especially in writing. For instance, Northwestern’s media program has a minimum TOEFL score requirement of 100 for foreign applicants and does not accept super scoring.
Traditional media fields, such as newspapers, magazines, and broadcast television, are more challenging for job seekers. However, advertising and public relations offer better prospects. The entry-level salary in the advertising industry is around $60,000, which is the national average. Salaries on the East Coast tend to be higher.
Subfields of Political science usually include political theory (starting with Greek philosophy and government), American politics, comparative politics, public policy, and international relations.
Political Science requires extensive reading and writing. So, it can be challenging if you don’t like to read and write a lot of materials in short period of time. Admissions will pay close attention to grades in social studies courses, especially those related to American government and history.
Political science provides good job prospects, which might surprise some people. Many political science graduates go on to law school, as the major is a natural pathway, like how biology majors often go to medical school. In terms of employment, many graduates work in government as civil servants, while others find roles in NGOs and think tanks. There’s also a good number of graduates pursue careers in lobbying and campaign management, such as campaign managers.