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Economics Video: Career Options for a Degree in Economics

Economics Video: Career Options for a Degree in Economics Transcript

Are you interested in economic systems and the role they have in our lives? If so, a program in economics may be right for you. Economics as a subject covers concepts and theories such as supply and demand, microeconomics and macroeconomics. Also included in the field of study are topics such as international business, banking, and credit. All of these areas of finance intersect in interesting ways within our lives, and those who pursue degrees in economics are well positioned for employment in a variety of industries.

Introduction

At a simplified level, economics examines how goods and services are produced, distributed and consumed within society. Monetary systems, labor practices, the service sector and many other topics with obvious economic ties are studied. On a broader level, however, economics may be connected with culture, religion, politics, education, environmentalism and innumerable other aspects of modern society. This is in large part because the study of economics incorporates many social factors. The result is a social science diverse enough to examine everything from stock market trends and the driving habits of rural Americans to inflation rates and cities' recycling rates.

Job Skills and Duties

A degree in economics can qualify graduates for many different positions. Economists working in government, for example, may examine community, state or national needs to make recommendations for policy. On the other hand, a person working at a private firm may examine stock performance to anticipate future market moves. A graduate of economics working in a nonprofit organization, may have to make decisions about budgeting. In all of these cases decisions must be made about resource allocation given an overall scarcity of materials or capital. Those working in economics-related fields are often required to present information to others in the form of presentations, scholarly works or other reports. For this reason, strong communication skills can also be vital in their work.

Training Required

Professionals interested in economics careers most often earn at least a bachelor's degree. In these academic programs, students take courses on theories and disciplines of economic thought. Microeconomics, for example, focuses on how individuals and small groups use resources. Macroeconomics, on the other hand, examines trends and policies from the perspective of greater society. Depending on a student's particular interests, courses may be taken on banking, monetary systems, international business, economic law, labor methods, urban development, public finance and globalization, among many others. A significant number of students utilize a bachelor's degree in economics to prepare for graduate studies in law, business and government.

Well Known Jobs Within this Field of Expertise

Economics degree programs prepare students for work in a wide range of disciplines. Government, banking, accounting, journalism, financial services and education are only some of the fields. Diverse positions are available even within these respective areas. For example, candidates applying for government positions may target jobs as varied as that of a public policy advisor or an IRS agent. Jobs within the financial realm may range from credit analyst and investment banker to broker and financial manager. As with most fields, the most lucrative positions are often available exclusively to those with advanced degrees and exceptional experience.

Conclusion

A degree in economics is generally well suited for those interested in economic systems and their effects upon our lives. Important in these careers are reasoning skills, analytical abilities and a curiosity about how financial concepts affect our lives. In addition to the high-interest nature of the subject, graduates with degrees in economics will be well positioned to work in a wide variety of potential careers.

Sources

www.bls.gov/oco

www.economics.harvard.edu

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