Careers in Economics
What is the most significant in terms of choosing a career?
Well, many would say that his/her job should be inspiring and satisfying, but this is what they usually say. The first thing that comes to their mind is high income. A job in economics can be well paid and satisfying at the same time. Therefore, if you`re majoring in economics, you get a great opportunity to start a successful career.
The field of economics allows international student to choose from a wide range of available options. Economics degree opens up a range of well-paid and satisfying careers. So, let`s see what kind of employment is available in Economics.
The prevailing number of job titles in Economics include the word “analyst”. For example, you may have heard of the following job titles: data analyst, financial risk analyst, market research analyst, etc. These positions share principles that can be applied to them all. Therefore, we will go through them all at once. So, what do these all “analysts” do? The answer is obviously simple: they analyze datasets in order to identify certain trends, which are very useful pieces of information. This kind of information is used to improve performance and give financial advice to organizations such as banks, insurance companies, and hedge funds. Also, it involves using advanced computing technologies to analyze huge amounts of private and public data, and, therefore provides a means to make an informed financial decision.
A person who works in economics is usually called an economist (great surprise). Among their numerous responsibilities, there is the key one which involves analyzing an economic system on different levels to predict possible positive or unfavorable developments. Economists are involved in the government, businesses, and non-profits paving the ways for increasing profits and preventing them from decline.
Some students may prefer teaching economics instead of practicing it, as they believe that this job is more satisfying. A Ph.D. degree in economics allows international students to become professors at popular universities and colleges passing down their knowledge and experience to their students. It should be mentioned that this job is demanding, but it is also well paid. If you are interested in teaching, but you do not want to go this far with a Ph.D. degree, you might work in a high school. In most cases, teaching on a pre-college level requires you to hold a Bachelor`s degree as well as some additional certification. Working with younger generations is inspiring and empowering as your task is preparing them for adult life. However, the requirements in different countries may vary.
An economics degree is a good framework for double majoring, for instance, you might enter a law school. The fundamental knowledge in economics allows you to study the law in-depth. The ability of analytical thinking will let you comprehend challengingly complex legal conceptions, and the previous academic experience will simplify dealing with stylistically dry legal texts. However, this path is a challenging one, not mentioning the cost of the degree, and you must be completely sure that this subject is what you really like. But if this is the case, and you are indeed passionate about the subject, you should take the plunge.
The fundamental knowledge in economics allows you to start your own business. Having a business, you can simultaneously focus on what you really like from the perspective of economics. For example, if you`re passionate about literature, you may establish a publishing company, or if you are more a technician, then start en electronics company. Starting a business is a risky undertaking. As a qualified economist, you are way ahead your competitors. Finally, an economics degree will lead you into the great future.