Economics (School of Management)
If you enjoy math, problem solving, and the potential to make a difference, then Economics through the Krannert School of Management is a great choice for you!
Economics is the study of the choices people make. More formally, it’s a study of the choices people make as they cope with scarcity and the incentives that influence those choices. When a company decides to hire a new employee, what characteristics determine who is the “best” to hire? If a company chooses to hire one employee and not the other, what do they gain and what do they lose? Or, when the government raises taxes on gasoline, how will that affect the amount people purchase and how will incomes for gasoline companies be affected? As an Econ major, you will learn how to navigate through a data set, extract something useful and appropriate from it, and properly interpret those results.
Economists work for local, state, and federal government, as consultants for corporations, in the banking industry, and as analysts in the private and public sectors. Students who continue in graduate studies commonly get advanced degrees in business, law, and economics.
Krannert People: Alexis Gomis
Alexis Gomis (BS Economics ’21) started building her professional network before her freshman year through the Dr. Cornell A. Bell Business Opportunity Program (BOP), which begins with an eight-week summer session to jumpstart students’ studies in the Krannert School.
“BOP improved my networking skills tenfold,” Gomis says. “It really forced me to get out of my comfort zone and talk to people about my career goals in ways that I usually wouldn't.” BOP also provides a number of support services, including professional development and scholarships for tuition, room and board, and study abroad.
Gomis gives equal credit to her participation in student organizations like the Society of Minority Managers, School of Management Council and Women in Business.
“Getting involved in a variety of clubs on campus has definitely given me opportunities that other students wouldn't normally have,” she says. “It’s allowed me to join multiple networks and gain exclusive opportunities to face time with companies that I wouldn't necessarily get to know and talk to.”
In fact, Gomis landed her first of two internships with PricewaterhouseCoopers (PwC) through the BOP career fair, which is smaller and more intimate than campus-wide job fairs. The first was as a start advisory intern through a PwC initiative that gives minority students exposure to the management consulting industry.
“After completing the first internship, I realized that management consulting is definitely what I want to do,” Gomis says. She returned to PwC as an advance advisory intern the summer before her senior year and will begin her full-time career as a management consultant with the firm upon graduation.
Gomis’ clients at PwC will be in the healthcare industry, a focus that she fostered through a healthcare economics course at Krannert. “I realized there are a lot of problems and challenges within the healthcare industry that need addressing and I wanted to be a part of the solution,” she says.
Gomis, who works as a student employee in the Purdue University Research Center in Economics, is also eager to apply her unique perspective as an economics program graduate to her role as a management consultant.
“I would describe economics as the study of the choices people make when they're faced with scarcity, whether that be individual decisions or business decisions,” she says. “In this world of limited resources, it’s important to study choices people make and how our government leaders create policy and legislation to reflect those decisions.”
As for decisions on which college to choose, Gomis recommends Purdue, not only for its return on investment, but also for its limitless opportunities for growth.
“I would advise high school students debating if they want to come to Krannert to think about where they want to be in the next five years,” she says. “Where do you see the trajectory of your life going? Can Krannert help you get there? For many students, I really think it can. I wouldn't give up all the skills that I've learned here for the world.”
Plan of Study
Economics (School of Management) WebpageTransfer to Economics (School of Management)
Purdue admits to individual majors. Transfer students must meet Purdue's overall transfer criteria, as well as any major-specific requirements. Before you apply, check the closed programs page to confirm this major is open to transfer students. If it is, refer to the information below for major-specific transfer criteria.
Minimum GPA: 3.0
Additional Requirements: Must have a grade of B or better in any college level calculus class.
Contact Information
A.J. Frigo
(765) 496-0264
krannertundergrad@purdue.edu
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Careers in Economics (School of Management)
Job titles of recent Krannert Economics graduates:
- Analyst for a consumer products firm
- Strategy consultant for a planning and development services company
- Project manager for a health care firm
- IT analyst at a global management consulting company