My future with Economics!
- Ishita Banerjee
- Sep 8, 2020
- 3 min read
Updated: Feb 12, 2021
I am often asked by students what their options are after studying Economics. The traditional answer would be to work in the research area or in the education sector. Students of economics have immense advantage in varied fields. From an Investment Banker to a Policy maker, the world belongs to the economists.
A nation's success is measured by its Economic growth. With the global population expected to reach 10 billion in the next 30 years, humankind will be experiencing an existential crisis. The challenge will be to look at alternate models for survival in the altered world, formulate new ways of thinking and exhibit preparedness to handle the current challenges in order to have a flourishing future. Students who are opting for this field of study have immense responsibility on their shoulders. But that’s what the new generation is all about. Ready to look at challenges and provide measurable solutions.
Students of Economics have clear understanding of society, politics, psychology and history. A student who has strong quantitative skills and an excellent critical understanding of modern economies and markets will be a sure success studying this complex subject. In the current context, students who opt for economics should look at colleges that offer students a wide variety of policy-oriented modules (e.g. Development, Labor, Finance and Investments, Macroeconomic Policy etc) in addition to core theoretical subjects and optional multidisciplinary modules. They must study modules taught by experts in their fields in areas, such as: Global Health, Social Networks, Experimental Economics, Health Policy and Economics. This will enhance their empirical research skills and proficiency in statistical software commonly used in the workplace.
The common career paths for Economics students are:
1.A Professional economist: As a professional economist, your job will involve researching and analyzing economic data, issues and trends. A post-graduation degree in Economics will be an added benefit and will help you gain specialized skills.
2 Banking: Economic graduates are valued for roles in financial control, financial planning, risk analysis, data analysis and consultancy. Banking careers are largely concerned with advising and providing services for a range of banking clients and consumers.
3. Accountancy: Many accountancy roles are available to eco graduates, but you will need to get additional specialization in the Accountancy field. Accountancy careers typically focus on classifying, recording, communicating and interpreting financial data."
4. Business and Financial consultancy: Economic graduates can land up in important positions in large and medium sized organizations where economic research is required. One can work as a financial consultant with various organizations advising on Business strategies.
5. Public sector: , Economic students are finding lucrative positions in this sector. They are involved in transport, public taxation, commercial and waste services, energy and other forms of government spending.
6.Actuarial and data analysis: “An actuary is a business professional whose role is to evaluate and advise on the impacts of financial risk and uncertainty.” Entry level jobs are primarily with pensions and insurance companies, but after some years of experience one can have the opportunity to move towards areas including banking, investment and healthcare. You have to be skilled in mathematics and compiling statistics, but also able to interpret and communicate complex data effectively to non-experts.
A degree in economics will be useful in the following fields:
The subject has vast scope and we will be happy to guide you to find a perfect college match. Do send in your queries and we will get in touch with you. Alternatively visit to explore over 300 careers and their study path. https://careerforte.edumilestones.com/
Nice. Well written with in-depth detailing.