“…Some studies find that economic downturns shift students toward higher-paying majors, such as those in STEM fields (Blom et al, 2021;Liu et al, 2018). However, there is also evidence that sector-specific shocks can deter students from generally well-paid or prestigious majors in the affected sectors (Han and Winters, 2020;Weinstein, 2020). As far as the impact of the COVID-19 crisis is concerned, early survey evidence from the US indicates that the pandemic increased college students' likelihood of switching towards majors with higher annual earnings (Aucejo et al, 2020).…”