Why Economics? "Economics, Once a Perplexing Subject, Is Enjoying a Bull Run at Universities" (Abstract) By TRISTAN MABRY Staff Reporter of THE WALL STREET JOURNAL NEW YORK -- The dismal science is in vogue again on campus. After years of trailing history, English and biology as the top undergraduate major, economics is enjoying a surge in popularity with college students, especially at the nation's most elite institutions. Economics, once considered one of the more difficult subjects for undergraduates to grasp, is the top major at Harvard, Princeton, Columbia, Stanford and the Universities of Pennsylvania and Chicago; second at Brown, Yale and the University of California at Berkeley; and third at Cornell and Dartmouth. Reasons Behind Trend With a booming stock market leaving investment bankers, stock pickers and securities analysts among the highest paid professionals in the nation, some college students are hoping to use economics as an entry to Wall Street. Also, because the top colleges don't consider business a suitable discipline for undergraduates, students interested in the subject often turn to economics as a substitute. But the swelling ranks of economics majors also reflects more subtle trends, including a sharp reduction in the age at which economics is first introduced to students, stronger mathematical skills among college freshmen and heightened interest among all Americans in economic ideas and their impact on everything from wage rates to the price of an airline ticket. Economics also is viewed by more students as a ticket to the nation's top business and law schools. Many law schools feel the same way. "Of all the majors, economics ranks in the top four or five consistently year after year for both applicants and offers made," said Edward Tom, director of admissions at the University of California at Berkeley's law school, Boalt Hall. "Logical reasoning and analytical skills" are critical to legal studies, he said. And, apparently, help at scoring high on standardized exams, including the Law School Admissions Test. Out of a possible LSAT score of 180, economics majors average about 155, ranking highest in a study of the most common majors for law school applicants in 1992 and 1995. For many students, however, economics is just the quickest way to land a good job. David Reinstein, 22 years old, started at George Washington University in a dual program of economics and political science. By the time he graduated in June, he had dropped the politics for economics alone. "People are impressed because it's difficult," Mr. Reinstein said. "Economics is respected." His resume also impressed CNA Corp., an Arlington, Va., government contractor where Mr. Reinstein landed a job as a research specialist. © 1998 Dow-Jones.