International Trends in Economics Degrees
During the 1990s
Working Paper No. 00-W47
John J. Siegfried and David K. Round
ABSTRACT [article]
Australia, Canada, Germany, and the United States experienced a substantial
decline in undergraduate degrees in economics from 1992 through 1996, followed immediately
by a modest recovery. This cycle does not conform to overall degree trends, shifts in the
gender composition of undergraduate populations, or changing interests of female students
in any of the four countries. There is no evidence that changes in the "price" of a degree
to students, tightened marking standards or degree requirements, or changes in pedagogical
methods caused the cycle either.
Jobs for economics graduates declined in the U.S. between 1988 and 1990, and thereafter
recovered. With a two-year recognition lag, the pattern of employment prospects fits the
U.S. slump in economics degrees perfectly. Unfortunately, employment patterns in the other
three countries are inconsistent with the degree cycle. The explanation that fits the
economic degree pattern best is interest in business education.
Undergraduate economics degree counts for the U.S. updated through June 2000 are reported
in the appendix.