Wake Forest Economics Department

Economics is about understanding the behavior of people. In particular, economics seeks to address how the world can be understood based on the incentives that various economic agents face. In practice, the study of economics involves using both conceptual and empirical tools to examine how people make choices. This theoretical and data work is, in turn, crucial in informing policymakers how to make their decisions.

Our majors gain strong quantitative skills through their courses and end up working in a vast array of professions: consulting, healthcare, banking, finance, pharmaceuticals, and real estate, to name a few, while others find careers in non-profit and public sectors. We also send our students to graduate school in law, business, economics, or public policy to name a few. 

Our majors also tend to have substantial earning power based on their economics degree. According to the Wall Street Journal’s “Degrees That Pay You Back” data, economics majors have the highest mid-career median salary of any non-engineering major.

So, please come visit us in the department and talk to our many faculty about your future major in economics!

NEWS

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  Why eliminating the penny makes sense
  Five questions with Wake Forest Professor of Economics Robert Whaples
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  Is it time to say good-bye to the Penny?
  Economics Professor Robert Whaples has been featured in multiple major media outlets, including CNN and NPR, sharing his expert insights on the potential elimination of the penny. With President Trump ordering an end to the “wasteful” production of the one-cent coin, Dr. Whaples discusses the economic rationale behind this decision, the costs of minting pennies, […]
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  Tobacco age restrictions may not be working, new research shows
  Professor Erik Nesson’s new research suggests that Tobacco 21 laws may not be as effective as they seem. While self-reported smoking rates among 18 to 20-year-olds have declined, biomarkers reveal continued nicotine exposure, indicating that young adults are still accessing cigarettes and vapes. Read more.
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  Why ditching the penny may not cost Americans much
  Should the penny be retired? ECN Professor Robert Whaples explains why ditching it wouldn’t cost consumers and could even boost efficiency. Read more

EVENTS