From Economics to Public Policy: Exploring Study Pathways at UI, Cornell and the University of Illinois Urbana-Champaign

Economics is often mistaken for a degree only about money, banking or stock markets. At university, however, it can also help students understand household decisions, employment, poverty, trade, environmental issues, urban growth and the way data is used to assess public problems.

A public education profile for Suahasil Nazara lists a Bachelor of Economics from Universitas Indonesia in 1994, a Master of Science from Cornell University in 1997, and a PhD from the University of Illinois at Urbana-Champaign in 2003.[1] This article uses that sequence only as an example of how Economics study can develop from an undergraduate foundation to postgraduate depth and doctoral research—not as a formula for any particular career.

Stage 1: A Bachelor’s degree builds a way of thinking

At undergraduate level, students often begin with core questions: how do individuals, businesses and governments make choices when resources are limited? Important foundations include microeconomics, macroeconomics, mathematics, statistics and introductory econometrics.

FEB UI currently offers an international undergraduate route that lists Economics among its fields, with single-degree and joint-degree tracks with partner universities.[4] Structures and entry requirements change by route and intake, so applicants should always check the latest UI admissions information.

For secondary-school students, an interest in Economics can grow through reading data, asking cause-and-effect questions and explaining numbers with human context. Mathematical confidence helps, but curiosity about real problems matters just as much.

Stage 2: Postgraduate study deepens the question

A Master’s degree is not simply a harder bachelor’s degree. It usually asks students to work more independently with research, quantitative methods and the application of theory to a defined issue. Cornell offers graduate study in Economics through its Graduate Field of Economics.[2]

When comparing Master’s options, do not focus on a university name alone. Review the curriculum, faculty research areas, thesis or capstone format, access to data or research labs, teaching language, cost and graduate outcomes. Choose a program that addresses your academic or professional question, not only one that sounds prestigious.

Stage 3: A PhD produces new research

A PhD in Economics requires strong research and quantitative preparation. The University of Illinois Department of Economics says its doctoral program prepares students for academia and research roles in government, international organisations and consulting.[3] Its specialisations may include development economics, econometrics, labour, macroeconomics, environmental and public economics; the list can change with faculty composition.[3]

This highlights an important distinction: a Master’s can deepen expertise or support a move into analytical roles, while a PhD centres on forming research questions, choosing methods, testing evidence and contributing new knowledge. A PhD is not an automatic next step after a Master’s; it suits students who enjoy sustained, in-depth research.

Skills to build now

Whatever study level you choose, prospective Economics students can begin developing:

  • data literacy: reading charts, tables and assumptions;
  • quantitative reasoning: algebra, statistics and interpretation;
  • clear writing: explaining findings without oversimplifying;
  • interdisciplinary perspective: connecting Economics with technology, health, environment, education or cities;
  • data ethics and awareness that numbers represent human lives.

Want to map Bachelor’s, Master’s or PhD Economics options in Indonesia or overseas? Contact RIM Education for an initial consultation: https://rimeducation.com/en/contact-us

Sources

[1] https://www.kemenkeu.go.id/profile/profile-pejabat/wakil-menteri-keuangan-suahasil-nazara — Profil Suahasil Nazara | Kementerian Keuangan Republik Indonesia

[2] https://economics.cornell.edu/graduate-program — Graduate Program | Department of Economics, Cornell University

[3] https://economics.illinois.edu/academics/phd-program — PhD Program | Department of Economics, University of Illinois

[4] https://feb.ui.ac.id/iupfebui — International Undergraduate Program | FEB Universitas Indonesia