Economics as a subject offers great opportunity to students in understanding theories of finance and global business. There is a high demand of knowledgeable economists in many industries, firms and educational institutes etc in our country.
Job responsibility of economists is to do research and analyze the production and distribution of goods and services, formulate government economic policies and provide advice on specific economic issues, assess the impact of monetary policies, expenditure and taxation on economic conditions, recognize opportunities to enhance efficiency and international competitiveness, prepare forecasts and analyze trends, and provide recommendations on specific economic issues.
Educational requirement for candidates who wish to build career in economics must have economics major at undergraduate level and post graduation in the same subject. Such candidates are highly valued in banking and finance, business analysis, law, journalism and public policy. They can choose a career in economic journalism, economic and financial research, banking and finance, sales and marketing, academics, business, and government.
If candidates want to be professional economists, they have to undergo some training in addition to their bachelors and masters in economics.
Business economists forecast and analyze various aspects of the economy or of particular market. A business economist is a dedicated analyst that focuses on the structural side of business. Their work basically deals with factors that can have an impact on the business of an organization. They often provide input to organizations in references to their business decisions and these inputs are not only based on the success or failure of a business but also its affects the organization as a whole.
Business economists often learn the business structure and determine whether the said structure is ideal for development or should be changed to cater to business demands. Their work is equivalent to a researcher.
Candidates with economics degree can build career in government as well. They have to gather, interpret, and analyze national and international data in support of policy development.
Some can work in banking sector also. In Banks, candidates with economic degree can work as a credit analyst or as a loan officer. Economist task in bank is to work as a financial analyst.
Candidates with economics major can also have good career options in marketing and market research. The job responsibility of market researchers is to evaluate demand for products and response to products based on people's income and other demographic information. They must be proficient enough to interpret data in a way that helps a product to sell faster. Additionally, such professionals must have excellent communication skills to excel in marketing field. They can also work as stock broker, buying and selling stocks for clients.
Economics candidates can choose writing career if they have strong written and communication skills. Business and finance writers transmit information about the principles and concepts of economy through their articles. Their responsibility is to make difficult economic concepts easy to understand.
There are jobs like Underwriters Insurance personnel for economics degree holders. Underwriters make use of advanced economics skill of data analysis and their main task is to determine the risk factor for giving insurance. To do so, they need to analyze data, such as the health and history of a person applying for life insurance or the accident record of someone applying for auto insurance. Such candidates can pursue career as insurance agents who may sell insurance policies to the clients.
Candidates who want to become economist must possess certain skills to make a bright career. They must have logical and analytical mind Quantitative aptitude, articulation and strong ability to assimilate information felicity of expression, willingness to work hard.