Dean Said:

What can you do with a law degree becoming an attorney?

We Answered:

Actually, most attorneys rarely, if ever, go to "trial." Even those attorneys involved in litigation rarely go. The only "trial" attorneys, anymore, are those specializing in criminal law (DAs, ADAs, AUSAs, defense attorneys) and those doing some types of personal injury work.

Almost everyone else is a "transactional" attorney of some sort. They're filing papers with the SEC for a stock deal (ore reviewing the papers for the SEC). They're filing papers with the FTC/DOJ for a merger (or reviewing the papers for the FTC/DOJ). They're doing contract deals--business, real estate, trade. Even litigation attorneys are rarely in court as most cases settle--it's actually too costly to go to "trial."

And there are a plethora of attorneys doing exactly what you have an interest in. You can work as counsel to a Senate/House committee. *Every single* federal agency has attorneys working for it and most are evaluating the policy from a legal standpoint (does it conform to what Congress has mandated, are our rulemaking procedures correct, etc.). Work for the DOJs tax division. Work for the World Bank or IMF. Work for USAID. Work for the State Department.

You can do the areas you've indicated an interest in either from a private firm perspective or a governmental agency perspective. Both will provide several opportunities. After some time spent in either of these, you can go in-house counsel at a corporation doing the kind of work you find interesting.

Here's the one piece of advice I will give you: don't go to law school unless you *know* you want to practice law. This is an unfortunate situation: how will you know you want to practice law unless you go to law school? Can't help you with that one. I just knew.

Here's why I give that advice: law schools are expensive and becoming increasingly so (and those that are affordable are likely to be less well-regarded--although this is not always the case). By the time you graduate, pretty much the only profession that can help you pay back your loans in a timely manner is the legal profession. It used to be that a law degree was helpful for any profession that you chose to go into. While that's still the case, not just "any profession" will give you the salary you need to pay back your loans.

Woohoo for you if you can pay for school without going into debt, however, and what I just said becomes null: you will benefit in almost ANY profession from having a law degree. Doing well in law school shows a commitment to a goal, a degree of perfection, and intelligence. It will be a benefit to you in whatever job you take.

Rhonda Said:

What college majors should I consider to pursue a career in economic development of 3rd world countries?

We Answered:

If you want to pursue a career in economic development, an economics major is definitely appropriate. Depending on how much time and financial resources you have, you may want to choose a double major. Having at least a minor is a must. Sociology, anthropology or a related field would give you a background on societies and different cultures. Then again, minoring in a foreign language (Spanish for instance) will benefit you if you plan to work with people of Spanish speaking countries. The opportunities are endless! Definitely speak with the academic adviser or career development staff at your school.

Leroy Said:

A career in International Economic Development? ?

We Answered:

Umm...
I don't believe that there is a field that is that specific per se, you could in theory study any field work in economics and still do those things. but what I would expect people are looking for in that instance would be either a maco-economists (studies economics as a whole) or a specialization in agro-economics (though it depends what your intentions are exactly)
I would emphasize macro b/c that stresses the disciplines relating to government, a countries money supply, how to improve/ promote conditions et cetera.




on a side note, i read this weekend an interesting thesis by a portugese economist in regard to creating wealth in africa. (i thought you may want to heat it, it's quite brilliant actually). His belief is that there is actually a lot of wealth in those states (even the notorious Sub-Saharans) that is just 'frozen' but which could be created for individuals by simply having the governments of various states give land to its citizens.
with this they could offer equity to banks or investors or just sell it off and thereby pursue individual economic interests that will end up creating wealth for the citizenry of those states.
though, for most of these countries it would mean a complete overhaul in their laws for property rights, but he was pretty optimistic.

Ted Said:

Have you quit your job to volunteer overseas for a year?

We Answered:

if that is where your heart is taking you then go for it. it will be more rewarding than you think.

Sue Said:

What can I do with a B.A. in Economics? Will I get a job?

We Answered:

I'm not sure how things work in Canada but here in Ireland Ecnomics/Business/Law courses are almost always accompanied by a foreign langauge so you can be a translator. If your Uni does that then you could be a translator?

Janet Said:

Can you help me come up with a question pertaining to societal and economic trends that affect the job market?

We Answered:

Try asking what is the impact of an increase in the minimum wage on the availability of entry level positions and total wages paid to those who fill those positions? You might also ask what the anticipated reaction of job-providers would be?

I don't know if you'll get the correct answer here, but I suspect that many would be surprised to know the real (measured) impact.

Hint: Imagine your reaction if you owned a business employing 50 minimum wage employees and the mandated wage goes up by 20%. Would you:

a. Knuckle under, pay the higher wage, maintain your prices and make less profit?

b. Pay the higher wage, raise prices to compensate and hope that your competition doesn't transfer jobs to China?

c. Hire undocumented workers for less than the minimum wage and hope you don't get caught?

d. Lay off 20% of your workforce and try to squeeze more output out of the remaining 40 employees?

e. Follow the competition and transfer your jobs to China?

Which of these possible "solutions" is best for the U.S. economy and labor market?