Economics has long been a secure degree that opens many doors in the professional world. But according to the esteemed AUBG economics Professor Dr. Didar Erdinc, its value today is greater than ever. As the world is being shaken by economic challenges, understanding the key principles of the filed will help you have the rigor to make sense of major changes and respond confidently.
Today, she explains, no business or policy analysis can be done without a deep understanding of how markets function.
“We cannot even begin to understand the operation of business without understanding the operation of markets.”
At its core, the discipline has an altruistic mission – to understand and improve human welfare. “The key issue we are concerned about is the betterment of the human lot, the welfare of societies.”
So, what is the value of an Economics major according to Professor Erdinc, and what are some of the career paths you can take?
Why an Economics major matters
“We consider ourselves as homo economicus, meaning that anytime we make a decision, even when we purchase a concert ticket or milk, we are making a certain calculation without even realizing it,” said Professor Didar Erdinc.
“We’re thinking, what is the benefit that we are going to drive from it and what is the cost.”
Economics gives you the tools to analyze real-world problems, whether it’s daily purchase decisions, global trade tensions, or AI’s impact on labor markets. At AUBG, students learn to look at these issues through a historical, theoretical, and practical lens.
Beyond disciplinary expertise, economics builds confidence. “We want our graduates to have the confidence to speak comfortably and confidently about various problems across the world, and to be prepared to face the challenges of today. That’s what gives them a competitive edge in the job market and is in-built in every class design.”
Professor Erdinc believes this versatility is precisely what makes economics such a powerful degree.
“Without any exception, all managerial roles require an understanding of economics. You have to have an understanding of how different levels of economics, policies, and leadership and institutional decisions might impact you as a professional in your industry, and in your company.”
What you learn as an Economics major
According to Professor Didar Erdinc, the Economics degree doesn’t just teach students theories, but also to analyze how the world works and to forecast where it might be heading.
Students learn about transaction-cost economics, institutional design, and the role of governance. These frameworks help them understand everything from entrepreneurship to corruption to global competitiveness.
The major also prepares students to analyze emerging technological and social transformations. As Professor Erdinc says, “The role of AI in businesses can be measured and quantified in econometrics courses, but we can also see how it’s going to impact the labor markets. We assess that in labor economics, for instance.”
Courses regularly incorporate both historical cases and current global events. “For example, we look at accession to the eurozone: How do we really understand this process? What are the requirements?”
Ultimately, economics students develop a deep, holistic understanding of how societies function. As Professor Erdinc puts it, this is what makes the major both comprehensive and incredibly relevant.
Career paths with an Economics degree
Economics graduates enter a market with a wide range of possibilities. The major offers not only analytical and quantitative tools, but also the ability to understand policies, markets, human behavior, and technological change, which are highly valuable in a range of fields. Economic reasoning underpins decision-making in every modern industry. Below are some of the most common and promising career pathways.
Business careers
Economics provides a rigorous foundation for anyone entering the business world. As Professor Erdinc explains, “There’s a clear symbiosis between economics and business… a business major alone may not give you that edge.”
Understanding how markets operate, how consumers behave, and how global policies influence industries allows graduates to make informed strategic decisions. The ability to interpret trends and anticipate market reactions, led by digitalizations, will become even more vital for business roles.
Compatible skills and majors/minors: business administration, information systems, mathematics, quantitative analysis, data analysis, strategic planning
Data analysis and quantitative careers
Data-driven roles are becoming increasingly popular across all industries, and economics majors who possess econometric and statistical training can excel in them. In today’s world, understanding large datasets helps reveal future trends. Economics students make great data analysts, quantitative researchers, or risk analysts in a range of fields. As AI continues influencing markets and labor dynamics, these skills will only grow more in demand.
Compatible skills and majors/minors: computer science, information systems, mathematics, statistics, programming (Python/R), data visualization, quantitative modeling
Banking and finance
Economics provides the full arsenal of tools needed in banking and finance. Graduates understand interest rates, risk, inflation, and central bank decisions, which help inform investment, lending, and financial strategy.
Because economists can interpret global economic signals, they are well-suited to roles in commercial banking, investment banking, financial analysis, and portfolio management. The sector is becoming increasingly analytical and technology-driven, meaning economics graduates with data skills have a significant advantage.
Compatible skills and majors/minors: business administration, mathematics, information systems, risk analysis, statistics, data analysis, investment strategy
Politics, policy, and government
Economics and politics are deeply intertwined, especially in today’s complex geopolitical environment. Professor Erdinc points out that economics students learn to interpret “the behavior of countries, presidents, and how policy decisions set important dynamics in motion.” This makes economics an ideal foundation for careers in policy analysis, diplomatic work, governmental roles, and positions in international organizations.
As global issues like trade fragmentation, energy transitions, and technological change intensify, professionals with economic literacy will be essential for effective public leadership.
Compatible skills and majors/minors: political science and international relations, European studies, history and civilizations, public policy, geopolitical reasoning
Marketing and consumer insights
Modern marketing is highly data-driven, making economics graduates adept at understanding consumer behavior and market dynamics. Economics trains students to analyze pricing strategies, market segmentation, and demand, equipping them to make successful marketing decisions. As digital platforms and AI personalize marketing, the ability to interpret consumer data becomes even more essential.
Compatible skills and majors/minors: business administration, journalism and mass communication, psychology, integrated marketing communications, data analytics, branding, AI-driven marketing tools
Law and corporate governance
Economics is increasingly relevant in corporate and regulatory law, where understanding markets, competition, and financial systems is essential. Professor Erdinc notes that “corporate law requires a great deal of understanding in economics,” especially in areas like mergers, antitrust, and financial regulation.
Law students with an economics background are better equipped to interpret the economic implications of legal decisions. As global markets become more integrated and regulated, this combination grows even more valuable.
Compatible skills and majors/minors: law, political science and international relations, business administration, history and civilizations, corporate governance, public policy, legal writing
Entrepreneurship
Entrepreneurs benefit immensely from economic reasoning, whether they are evaluating market opportunities, setting prices, or forecasting demand. Economics provides tools to assess costs, risks, incentives, and competitive landscapes, enabling founders to make informed strategic decisions.
Professor Erdinc notes that economics applies to “a variety of contexts,” including business creation and innovation. In an era where industries shift rapidly due to digitalization and AI, an economic mindset helps entrepreneurs adapt and succeed.
Compatible skills and majors/minors:business administration, information systems, integrated marketing communications, innovation and product development, strategic thinking, leadership
Journalism and media
Economics provides journalists with the ability to interpret market movements, policy decisions, and global trends – skills which are increasingly valued in media. Many top outlets, such as the Financial Times, rely heavily on writers with economic training. Economics graduates bring clarity and analytical rigor to complex topics like inflation, trade tensions, or digitalization. As audiences seek deeper explanations behind the news, economics-trained journalists play a crucial role in public understanding.
Compatible skills and majors/minors: journalism and mass communication, political science and international relations, creative writing, data analysis, public policy
In a world that is shifting faster than ever, economics gives students something rare: clarity. As Professor Erdinc reminds us, the discipline teaches you to understand how the world works, and how to act within it. That’s what makes the major so powerful. It builds confidence, analytical depth, and the ability to navigate whatever comes next. And today, those qualities are essential.
If you want a degree that opens doors and helps you make sense of a rapidly changing world, explore the Economics major at AUBG.
