If you enjoy working with numbers and figures, then you might like to pursue a career in economics and work in the field of money management. This field requires people who are sharp, critical thinkers. They will conduct surveys and create statistical data. They will analyze how people will create services and goods by allocating resources like labor, land and technology. They will monitor inflation, costs and exchange rates to further the business conducted by the company that has hired them. In these uncertain financial times the need for economists is even greater.
There are many career options for someone with a degree in economics, including: investment banking, high finance, accounting, and personal finance consulting. This page helps you find out more about the programs, what the courses include, where you can take them, the career prospects, and what you can expect to earn after completion of your degree. You might also like to look at the finance degree page.
What is studied in a degree in economics?
Businesses rely on having every aspect of their financial dealings worked to perfection, ensuring they are receiving the highest profit and the best quality products and services. This requires clear thinking and a sound knowledge of mathematics. Mathematics and statistics underpin econometrics, which is the quantitative analysis of actual economic phenomena.
A bachelor degree will provide courses that teach a student the fundamentals of economics. They will be trained to analyze critical data and make financial decisions based on the results of their analysis. They will be taught the necessary tools to deal with issues and will have a good understanding of how money works in society.
A graduate would have a choice of different possible careers in economics. A program of study would include courses dealing with taxes, statistics, corporate and industrial organizational strategy, marketing, and, of course, accounting. If a student has a particular industry in mind that he or she would like to work in, it is wise to get as much background education and knowledge in that industry alongside the money and financial aspect. For any student interested in studying economics at graduate level, it is possible to obtain an economics masters degree or a PhD in economics.
What jobs are there for graduates?
An economics degree will open up the doors for someone who loves to work with numbers and money, especially in the area of financial services. Preparing taxes, keeping financial records, handling marketing and processing corporate finances are but a few of the options available. Personal finance is on the rise and consulting firms are always looking for a bright, new student willing to work hard in the world of finance.
Students of this field should be prepared to work their way through the ranks in the same fashion that other industries do. Entry level jobs in economics are generally available in some way or another and many companies leave room for advancement to management and supervisory positions. More experience, more knowledge and more education will bring higher paychecks and promotions.
The annual salary that someone with an economics degree can expect early in their career is about $70,000, depending on their location and several other factors. It is not an industry that expects any major changes for the next few years, although there may be a slight increase in demand after 2014 and the increased interest in handling personal finance is definitely something to be watched.
List of schools and programs
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- B.S. in Finance and Economics
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