Economics Majors in the U.S.: Their Characteristics, Educational and Career Goals, Reasons for Majoring, and Performance. Working Paper No. 82-W31.

A survey of 1,080 senior economics majors at 48 colleges and universities in the United States is reported. Questionnaires were administered in classes, by mass mailings, or through economics clubs. Although institutions were selected to provide a representative distribution of respondents, variations in response rates created too few participants from the West, Southwest, and larger institutions; too many from private schools; and too few from public institutions. Due to sample selectivity, students were also high academic achievers. Students' main undergraduate goals were to develop the ability to think clearly and to do self-directed learning. Most majored in economics because of their interest in the subject and a view that an economics major would provide them better employment opportunities. An analysis of students' academic performance revealed that both quantitative and verbal skills were important. Writing term papers appeared to enhance achievement on the economics Graduate Record Examination (GRE). No discernible effect of high school economics courses on participants' grade point average or economics GRE scores existed. Almost all students in the sample planned to continue their education beyond the bachelor's degree, but over half intended initially to work for a few years in general management, sales and marketing, analysis, research, and economist positions. (KC)