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 Koleman Strumpf has been in high demand this election season!
  Check out some of the interviews and articles where he shared his insights below! Strumpf was also featured in CoinDesk: “If U.S. Election Is Disputed, Prediction Markets Could Face ‘Hornet’s Nest‘” and “Prediction Betting Markets Vindicated by Trump’s Strong Showing,” the Sydney Morning Herald, 
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  Betting markets predicted a Trump victory. They were right.
  By Savannah Peters | Marketplace This was a breakout election cycle for election wagering, which was legal thanks to a U.S. district court decision last month. While pollsters ask people how they intend to vote in an election, prediction markets have traders gather information, think hard about the likely outcome and place bets, according […]
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  Concerns over 2024 election betting
  New data shows more than $100 million has been legally wagered on the Kamala Harris and Donald Trump presidential race. Koleman Strumpf, the Burchfield Presidential Chair of Political Economy at Wake Forest University, joins CBS News for an in-depth interview.
• 
  How can improvements in public transport in Peru boost access to education?
  The introduction of new transportation lines in Lima, Peru and other megacities of the world can reduce commuting times for students and enhance access to college education, although gender disparities might persist. A blog by Assistant Professor, Fabiola Alba-Vivar for IGC. Read full article.

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