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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  Professor Lakdawala Weighs in on Affordability and the 2026 Election
  Professor Lakdawala was featured in a recent WFMY News 2 article examining the role affordability played in Roy Cooper’s U.S. Senate victory. The article explores how concerns over everyday expenses influenced North Carolina voters and the challenges of turning campaign promises into meaningful economic relief. Read the full WFMY News 2 article
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  Prediction Markets and the 2026 Midterm Elections
  A recent Bloomberg article examines how election-related trading on prediction market platforms such as Kalshi and Polymarket has struggled to keep pace with the industry’s overall growth. While prediction markets continue to gain popularity, trading surrounding the 2026 midterm elections has not matched the enthusiasm seen during the 2024 presidential election. Read the full […]
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  Professor Strumpf Featured on WNYC’s On the Media
  Wake Forest Economics Professor Koleman Strumpf was featured on WNYC’s On the Media podcast in an episode titled “Place Your Bets!” The episode explores the growing world of betting and prediction markets, an area in which Professor Strumpf has become a nationally recognized expert. Listen to the episode here.

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