2018
DOI: 10.1111/coep.12396
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Up in Stem, Down in Business: Changing College Major Decisions With the Great Recession

Abstract: We use the American Community Survey (ACS) to investigate the extent to which college major decisions were affected during and after the Great Recession with special attention to business and science, technology, engineering, and mathematics (STEM) fields, as well as the heterogeneity across demographic groups. Several conclusions are reached. First, the Great Recession increased the frequency of STEM majors but decreased the frequency of business majors. Second, the increase for STEM fields spreads across sev… Show more

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Cited by 18 publications
(16 citation statements)
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“…Most prior work at the four-year college level finds that, to some extent, expected wages influence students' choices (Altonji et al, 2016). Consistent with this finding, a recent line of work shows that the composition of college majors changed following the Great Recession, with more students pursuing "recession-proof" majors (Shu, 2016;Liu et al, 2018;Ersoy, 2019). Choi et al (2018) also show that the occurrence of "superstar" firms with abnormally high stock returns increases the number of four-year college students majoring in related fields.…”
Section: Introductionmentioning
confidence: 82%
“…Most prior work at the four-year college level finds that, to some extent, expected wages influence students' choices (Altonji et al, 2016). Consistent with this finding, a recent line of work shows that the composition of college majors changed following the Great Recession, with more students pursuing "recession-proof" majors (Shu, 2016;Liu et al, 2018;Ersoy, 2019). Choi et al (2018) also show that the occurrence of "superstar" firms with abnormally high stock returns increases the number of four-year college students majoring in related fields.…”
Section: Introductionmentioning
confidence: 82%
“…Our study also extends existing studies conducted only with current Science, Technology, Engineering, and Mathematics (STEM) students (Roach and Sauermann 2017;Sauermann and Roach 2012), many of whom face a very different job market than do non-STEM students, by surveying students from both non-STEM and STEM fields. And our study advances a literature on how recessions affect college major choice among college students by considering how a negative job market shock affects a wider range of outcomes, from aspirations to priorities to program satisfaction, among PhD students of different years (Ersoy 2019;Liu Sun and Winters 2019;Shu 2016).…”
Section: Introductionmentioning
confidence: 83%
“…We followed the National Science Foundation’s (NSF) classification to group college majors into eight categories [ 44 ]. If a major appeared that was not on the NSF list, we followed the definitions of Liu, Sun, & Winters [ 45 ] because they expanded the NSF classification to include as many majors as possible in their study. If a respondent reported more than one major and the two majors were in the same field, we placed that respondent in the corresponding category (e.g., social sciences or STEM).…”
Section: Methodsmentioning
confidence: 99%