Economics Major Report (2014 Graduates)

Economics Major Report

A survey of recent economics majors was answered by 34 students.

The average starting salary is $39,375 in the Louisville area.

Companies that hired Economics students from this survey:

• Alltech
• Atria
• C.H. Robison
• Chase
• Humana
• Kentucky Humane Society
• KPMG
• Midwest Metals
• Regional Economics Models, Inc.
• Schneider Electric (formerly Summit Energy)
• Stockyard Bank and Trust
• Teach for America
• US Army
• USIS

Other job placement not reported on the survey (some with undergraduate degrees and others with graduate degrees)

• Navigant (Consultant)
• CSC (Data Analyst)
• JP Morgan Chase (Mortgage Banking Credit Program)
• PharMerica (Pricing Analyst)
• Kroger Co. (Cost Management Analyst)
• Brown-Forman (several positions in Data Analystics)
• Ernst & Young (Transfer Pricing Staff)
• Accent Marketing (Financial Analyst)
• Fifth Third Bank
• Optimal Blue Secondary Services (Trade Operations Administrator)
• Ameriprise Financial (Financial Service Professional)
• Fellon-McCord (Market Analyst II)
• Business Analytics at HAVI Global Solutions (Senior Analyst)

Graduate School

These outcomes are over several years and among students who have taken courses with me. Some are econ major and others are minors.

Medical School: University of Louisville

Law School: University of Louisville, University of Kentucky, University of Cincinnati, William and Mary, Washington and Lee, UCLA, and NKU.

Masters Programs: University of Cincinnati (Economics), University of Illinois at Urbana-Champaign, Vanderbilt University (Economic Development), University of Virginia (Data Analytics), University of Maryland - BC (Economics and Public Policy), University of Louisville (MBA), Xavier University (MBA), University of Cincinnati (MBA) , Cornell University (Public Policy), NYU, University of Arizona.

PhD Programs: Indiana University, George Mason University

Tips and advice for graduate school.

Here is a list of items you can use to prepare yourself for graduate school. Some things are UofL specific, but the advice is useful in general. http://louisville.edu/faculty/jmfern02/graduate-school-advice/

You can follow us on Facebook at https://www.facebook.com/groups/econuofl/

Or Twitter @UofLEcon

The Economics of Boardwalk Empire

Boardwalk Empire: The Birth, High Times, and Corruption of Atlantic City by Nelson Johnson

Growing up in the Tri-State Area (NY-NJ-PA), the Jersey Shore symbolized by the long Boardwalk has always attracted me. A short drive from most Jersey towns, the boardwalk greets vacationers of all classes with its beachfront shops of funny T-shirts, fudge, and saltwater taffy.

The jewel of the shore is Atlantic City with its high rise casino hotels occupying much of the two blocks just off the boardwalk. The city of just less than 40,000 people is known for its glamour. However, living in the shadows of the famous casinos lives a desperate population with a median income of $29,000 and over 34 percent of households living in poverty.

Nelson Johnson brings us back to an early time narrating how the city came to be.

Market Segmentation: A walk down the demand curve

The birth of Atlantic City owes a debt of gratitude to Johnny Pitney and Samuel Richardson. These two men convince the New Jersey State Legislature to build a railroad from Camden to Atlantic City. Richardson was an iron and glass entrepreneur. He understood that to compete with the popular beach town of Cape May, they would need to design a higher end train line to attract wealthy tourist. The first train on the Camden-Atlantic Railroad offered $3 round-trip tickets and $2 one-way tickets in 1854. As the number of tourist grew, Richardson added a second line (Philadelphia-Atlantic Railroad) with less amenities for $1.50 round-trip ($1 one-way trips) in 1876. A third line with wooden seats and no windows drop the price further to $1.

This process of adding additional services at both lower quality and price is a method use by business to earn greater profit.



A second benefit of providing railroad access to this area is the increase in demand for property. Both the Camden and Philadelphia Railroad companies purchased lots of land at $5 an acre. By the 1870's these properties were selling for $300 an acre as the railroads were transporting 400,000 - 500,000 people a year.