Majors, Minors, & Certificates

Economics

Learn to use theory and data to assess economic policy and solve problems related to business and public issues. Gain a strong analytic foundation with a liberal arts focus, while exploring economic justice, community engagement, faculty mentorship and undergraduate research.

​Program Highlights

Siena’s economics program is committed to undergraduate education and takes seriously the principles of economic justice related to Siena’s Franciscan tradition. The program provides an education valuable for employment and for life via:

  • Liberal arts focus, preparing students for a variety of rewarding careers.
  • Focus on data, policy, and Siena’s Franciscan tradition.
  • Strong analytic foundation, including calculus and econometrics.
  • Diverse faculty of over 40% women

The program emphasizes community engagement, and undergraduate research including:

  • Working with community partners is an essential element of selected economics classes.
  • Undergraduate research mentored by departmental faculty
  • Funded summer research
  • Off-campus presentation of research
  • Econometrics capstone project
  • Fed Challenge competition on monetary policy
  • Honors program thesis mentoring

Skills Developed

Economics graduates at Siena College become particularly skilled at analysis and problem solving. Taking seriously our objective to use economic theory and data together to assess economic policy in light of Franciscan values, students pursuing the major and minor work develop not only data management skills, but also logical and ethical frameworks in which to analyze data. Employers repeatedly comment on the exceptional analytical thinking shown by our graduates.

Employers of our Graduates

  • Bank of America
  • Briglia, Hundley, Nuttal & Lopez, P.C.
  • Campbell Soup Company
  • CFI Securities LLC
  • Cioffi Slezak Wildgrube PC
  • Dion Money Managment
  • Forbes
  • Franciscan Community Center
  • General Electric
  • Goldman, Sachs & Co.
  • Governor’s Budget Division
  • H.D. Fayette Elementary School
  • Halliday Financial Group
  • Harvard Vanguard Medical Associates
  • New York Independent System Operator
  • New York Life Insurance Company
  • New York Stock Exchange
  • NYS Assembly
  • NYS Dept. of Health
  • Oppenheimer & Company
  • Orange County District Attorney
  • Pitcairn Properties
  • State University Construction Fund
  • Sweetwater Logistics
  • The Albany Academies
  • The Hartford Financial Services Group Inc
  • Travelers Insurance Company
  • Travelers Insurance Company
  • Union Savings Bank
  • University of California, Davis
  • Walsh, Wicks & Sallisbury

Internship Sites

  • City of Schenectady
  • Connecticut State Department of Corrections
  • General Electric Global
  • New York State Office of the Controller
  • Peter Young Housing, Industries and Treatment Program
  • Public Service Commission
  • Riverkeeper (Hudson River)
  • U.S. Senate
  • United States Public Interest Research Group
  • Bank of America
  • The Ayco Co. (a Goldman Sachs Company)
  • Peter Harris Clothing
Department of Economics logo

Economics Department

Economics has been described as confronting the problem that arises when people have unlimited wants, but limited means. As a Siena economics major, you’ll study social systems, including families, markets, and corporations, so you can make policy recommendations and decisions that help bridge the gap between wants and means.

Majors:

Minors:

Concentration:


Career Opportunities

Budget Analysts examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.

Job titles include: Budget Analyst, Budget Officer, Budget and Policy Analyst, Chief Financial Officer (CFO), Cost Accountant, Staff Analyst, Accounting Supervisor, Budget Coordinator

Wages:

The median annual wage was $69,280 in 2012.

GROWTH FORECAST:

Employment is expected to grow 3-7% from 2012 to 2022.

Compensation and Benefits Managers plan, direct, or coordinate compensation and benefits activities of an organization.

Job titles include: Benefits Manager, Compensation Manager, Human Resources Director, Compensation and Benefits Manager, Office Manager, Benefits Coordinator, Business Manager, Compensation Director, Corporate Controller, Director of Compensation

Wages:

The median annual wage was $95,250 in 2012.

GROWTH FORECAST:

Employment is projected to grow 3-7% from 2012 to 2022.

Operations Research Analysts formulate and apply mathematical modeling and other optimizing methods to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May collect and analyze data and develop decision support software, service, or products. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation.

Job titles include: Operations Research Analyst, Operations Research Manager, Scientist, Analytical Strategist, Business Analytics Director, Business Insight and Analytics Manager, Decision Analyst, Operations Research Group Manager

Wages:

The median annual wage was $72,100 in 2012.

GROWTH FORECAST:

Employment is projected to grow 22% or higher from 2012 to 2022.

Statisticians develop or apply mathematical or statistical theory and methods to collect, organize, interpret, and summarize numerical data to provide usable information. May specialize in fields such as bio-statistics, agricultural statistics, business statistics, or economic statistics. Includes mathematical and survey statisticians.

Job titles include: Assistant Division Chief for Statistical Program Management, Clinical Statistics Manager, Human Resource Statistician, Private Statistical/Psychometric Consultant, Program Research Specialist, Senior Statistician, Statistical Analyst, Statistician, Statistician (Demographer) and Trend Investigator.

Wages:

The median annual wage was $75,560 in 2012.

GROWTH FORECAST:

Employment is projected to grow 22% (much faster than average) from 2012 to 2022.

Economists conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

Job titles include: Economist, Economic Analyst, Professor, Professor of Economics, Economic Consultant, Project Economist, Forensic Economist, Health Researcher, Research Analyst, Economic Analysis Director

Wages:

The median annual wage was $91,860 in 2012.

GROWTH FORECAST:

Employment is projected to grow 8-14% from 2012 to 2022.

Compensation, Benefits, and Job Analysis Specialists conduct programs of compensation and benefits and job analysis for employer. May specialize in specific areas, such as position classification and pension programs.

Job titles include: Compensation Analyst, Human Resources Specialist (HR Specialist), Human Resources Analyst, Personnel Specialist, Benefits Analyst, Benefits Specialist, Benefits Administrator, Benefits Manager, Human Resources Generalist, Compensation / Benefits Specialist

Wages:

The median annual wage was $59,090 in 2012.

GROWTH FORECAST:

Employment is projected to grow 3-7% from 2012 to 2022.

The real estate industry is comprised of organizations engaged in renting or leasing real estate to others; managing real estate for others; selling, buying, or renting real estate for others; and providing other real estate related services, such as appraisal services. Related career fields include accounting, general and operations managers, real estate managers, real estate broker and real estate agent.

Wages:

Depends on job function.

GROWTH FORECAST:

​Employment in the finance and insurance industry is expected to grow 11.4% by 2022.

Actuaries analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

Job titles include: Actuary, Actuarial Analyst, Pricing Actuary, Product Development Actuary, Actuarial Assistant, Actuarial Associate, Actuarial Consultant, Consulting Actuary, Health Actuary and Pricing Analyst.

Wages:

The median annual wage was $93,680 in 2012.

GROWTH FORECAST:

Employment is projected to grow 22% (much faster than average) from 2012 to 2022.

Risk Management Specialists analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.

Wages:

The median annual wage was $61,160 in 2012.

GROWTH FORECAST:

Employment is projected to grow 3-7% from 2012 to 2022.

Marketing Managers plan, direct, or coordinate marketing policies and programs, such as determining the demand for products and services offered by a firm and its competitors, and identify potential customers. Develop pricing strategies with the goal of maximizing the firm’s profits or share of the market while ensuring the firm’s customers are satisfied. Oversee product development or monitor trends that indicate the need for new products and services.

Job titles include: Marketing Director, Marketing Manager, Vice President of Marketing, Business Development Manager, Marketing Coordinator, Account Supervisor, Business Development Director, Commercial Lines Manager, Commercial Marketing Specialist, Market Development Manager

Wages:

The median annual wage was $119,480 in 2012.

GROWTH FORECAST:

Employment is projected to grow 8-14% from 2012 to 2022.

Market Research Analysts and Marketing Specialists research market conditions in local, regional, or national areas, or gather information to determine potential sales of a product or service, or create a marketing campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution.

Job titles include: Market Research Analyst, Market Analyst, Project Manager, Market Research Consultant, Client Service and Consulting Manager, Market Research Manager, Product Line Manager, Business Development Specialist, Client Services Vice President, Communications Specialist

Wages:

The median annual wage was $60,300 in 2012.

GROWTH FORECAST:

Employment is projected to grow 22% (much faster than average) from 2012 to 2022.

Lawyers advise and represent individuals, businesses, and government agencies on legal issues and disputes. The majority of lawyers work in private and corporate legal offices. Some work for local, state, and federal governments. The majority work full time, and many work long hours. All lawyers must have a law degree and must also typically pass a state’s written bar examination.

Job titles include: Attorney, Associate Attorney, Lawyer, Associate, Assistant Attorney General, Deputy Attorney General, City Attorney, County Attorney, Partner and Assistant Counsel.

Wages:

The median annual wage for lawyers was $113,530 in May 2012.

GROWTH FORECAST:

Employment of lawyers is projected to grow 10 percent from 2012 to 2022