What can you do with an Economics Degree?

Economists are employed in a variety of settings in both the public and private sectors. There are a lot of job opportunities after having a degree in Economics. The market for economics jobs is more bull than bear this year. As per the data from U.S. Bureau of Labor Statistics.

Updated by Akshay Nair P R on 30th June 2018

What can you do with an Economics Degree?

  • Careers in economics are as numerous as they come, with job roles covering everything from food and agriculture to business and banking.

  • Reckoning on your area of interest, an economics degree can assist you to develop specialized analytical skills, enabling you to successfully enter multiple industries as a knowledgeable economic expert, or as another kind of professional with a watch for economics.

  • Most economics degrees last for three or four years and are primarily tutored through lectures and seminars.

  • The content of an economic science degree course is vastly dependent on whether or not a student opts for a BSc or a BA course.

  • BSc economics courses use mathematics and statistical theory applied to economic theory.

  • They are designed for college students who wish to take advantage of a background in mathematics to further their understanding of the world these days.


Sectors they work

Banking, Finance & Accountancy Public Sector & Defence
Charity, Not-for-profit & NGO Recruitment & Human Resources
Hospitality & Tourism Retail & Sales
Management Consulting & Business Teaching & Education
Media Transport & Logistics

Colleges that provide Economics Degree

Arizona State University Liberty University
Capella University Ohio University
Colorado Technical University Park University
Grantham University Southern Technical College

 


What do they do?

  • The skills developed through learning economics are incredibly versatile and can be used in an exceedingly wide range of industries.

  • They'll have developed an analytical mind alongside a robust economic awareness of the world, skills which can be transferred to various industries.

  • For any career involving finance, an economics degree is a sensible foundation to build on.

  • Roles in data analysis similar to an actuary, or an investment analyst, are typical careers for an economics graduate.

  • So before diving head-first into the glitzy world of banking, but hold your horses, and just take a look at the possible jobs for economics degree holders.

  • Below is a list of possible jobs that a person with economics degree would do, and I have explained about some of them.

Accountancy

Economist

Actuary and Data Analysis

Financial Advisor

Banking

Public Sector

Brand Consultant

Sales Executive

Charity Officer

Statistician

Chartered Certified Accountant

Tax Inspector

  • Professional career in Banking Sector

Banking careers are quite common among economics students, providing scope for prime earnings and high demand for economists.

Graduates with a background in economics are significantly valued for roles in financial management, financial planning, risk analysis, data analysis, and consultancy.

With attention to keeping the monetary requirements of clients and businesses on track, banking careers are largely involved with advising and providing services for a range of banking clients and consumers.

  • Professional career in Public Sector

In the public sector, economics careers are prolific, serving to keep governmental finances in check.

People who study economics are probably to be valued in all areas of public and private spending.

Including roles in pricing and risk analysis, financial consultancy, and economic planning.

Whereas job roles vary vastly, economist careers in the public sector are usually concerned with public taxation, transport, commercial and waste services, energy and different forms of government spending.

  • Professional career in Actuary and Data Analysis

An actuary could be a business professional whose role is to evaluate and advise on the impacts of financial risk and uncertainty.

Using knowledge of each business and economics, actuaries give reports and devise methods on how to reduce these risks.

Actuaries should be expert in mathematics and compiling statistics, but also able to communicate advanced data effectively to non-experts.

  • Professional career in Accountancy

To become a qualified accountant you’ll want further professional qualifications, however, several accountancy roles are offered for those who study economics.

Within the field of accounting, you'll be able to work across multiple industries, that specializes in monitoring the financial situation of a company, business or individual.

Careers in accountancy usually target recording, classifying, interpreting and communicating financial data, requiring strong analytical skills, mathematical proficiency, computational ability, an understanding of all components of company finances, and also the ability to contextualize the data collected.


Conclusion

The importance of Economics are cannot only be quantified by the job opportunities that it provides a significant proportion of business leaders of the world had also studied economics. Meg Whitman, CEO of Hewlett Packard and former CEO of eBay as well as  Warren Buffett was awarded a master’s degree in economics from Columbia Business School in 1951, just to name a few.

Thus, the importance of Economics degree can be understood through this article. Hope so this might have helped in clearing your doubt whether to take Economics degree. To know more you can read our another article, How to Become an Economist.