The Best Economics Degree Jobs
Degree in Economics
The economic degree jobs’ descriptions and degrees in economics both look at issues including wealth distribution, incentive systems, and resource allocation. Undergraduate degrees that are helpful for various career routes as well as graduate and professional study in areas like business management, law, and public affairs all benefit from an understanding of economics.
Students frequently start their studies by building a strong foundation in calculus, microeconomics, and macroeconomics so they may go on to more difficult coursework and research opportunities.
Students considering a doctorate in economics should also look into some higher-level mathematics. Those interested in the policy applications of economics may choose to enroll in classes that investigate real-world situations.
Business economics degree jobs
Here are some of the business economics degree jobs that AdmissionSight has prepared.
1. Market Research Analyst
Market research analysts use their understanding of industry trends to predict how certain goods or services will perform in different economic environments. They receive the same training in study design, data collection, and analysis as economics majors. Results must be measurable, and they must be able to tell clients what they know.
Many of the talents that economics majors learn are put to use by these analysts, including writing and statistical abilities, as well as the use of presentation software and graphical representation. When thinking about goods and services, they need to be able to come up with creative and critical ways to solve problems.
2. Economic Advisor
Economic scenario studies are conducted by economic consultants using their analytical and research talents. To help firms operate better, they examine market trends. They might be employed by businesses in a range of sectors, including commerce, finance, healthcare, education, and more.
Economic consultants can do things like figure out economic losses, look into intellectual property and antitrust issues, and deal with regulatory violations. They can also testify in court as expert witnesses.
3. Benefits and Compensation Manager
This is one of the economics degree jobs that are in demand right now. The employee benefit plans for a corporation are created by the compensation and benefits managers.
Since they evaluate possibilities for pay and benefits, compensation and benefits managers need to be numerate, just like economics majors. They look at how the job market is changing and how much supply and demand there is for different types of jobs.
They work with the company’s human resources department and may also make reports that they give to higher-ups.
To create a competitive structure for their company’s pay and benefits, compensation and benefits managers investigate pay and benefits in similar firms within their industry.
Actuaries estimate the probability of occurrences like fires, fatalities, illnesses, and company failures using sophisticated mathematical and statistical techniques. This is one of the economic degree jobs in which they have to think about a lot of different things when analyzing risk profiles in order to come up with a good framework for insurance policies.
Software is a common tool used by actuaries to aid in their analyses. To explain their choices to the management team, they create graphs and charts.
5. Credit Analyst
Credit analysts evaluate the financial risk associated with lending money to people or firms that are requesting loans, mortgages, or credit cards.
Credit analysts perform microeconomic evaluations on potential customers to determine the risks associated with making a loan to those individuals or companies. They look at regional, industry, and competitor trends, as well as economic factors that have an effect. Credit analysts write reports about what they find and make suggestions about interest rates based on how risky their clients are.
Continue reading to discover five more career options that you can choose from if you pursue a degree in economics.
6. Financial Expert
For the benefit of finance departments, financial analysts conduct research on businesses, sectors, stocks, bonds, and other investment instruments. Many economics majors’ highly developed quantitative skills are frequently needed for their studies.
To assist with their assessments, these analysts frequently use computer tools and models. For coworkers and clients who ultimately decide on investments, stock or bond offers, and mergers and acquisitions, they compose reports and provide presentations.
7. Policy Analyst
As one of the top economics degree jobs in the world, success in this career depends on having the interest that economics majors frequently have about how the economic world operates in different fields, such as public policy, journalism, marketing, and finance.
Analysts of public policy conduct research, analyze problems and provide recommendations for legislation and government action. Understanding economics is essential for comprehending many of the problems and developing solutions that are within reach.
Analysis of problems including healthcare, taxation, energy, the environment, and international trade policy is frequently done by students who major in economics. Policy analysts rely on their writing skills to share the results of their research and convince lawmakers and the public that their ideas are good.
To plan and present their cases, attorneys need analytical and critical thinking skills. Micro- and macroeconomic analysis is used in many legal domains, including corporate, tax, antitrust, personal injury, and medical malpractice.
Writing and research abilities are both used by lawyers in their daily work as one of the best economics degree jobs. To support a position, they must assemble data and supporting arguments. To persuade a judge, jury, or the other side’s attorney of their viewpoint, attorneys must persuasively explain their findings.
9. Consulting in Management
Management consultants examine company issues and look into potential fixes before presenting them to clients. Many recent college graduates begin their careers as junior consultants or research assistants, supporting the work of more experienced employees. After that, they can go to jobs like management consultants.
The financial and quantitative models that consultants utilize to accomplish their evaluations are well covered by the economics major. When creating reports and making recommendations to clients, strong writing and public speaking abilities are also required.
10. Business Reporter
Business and economics reporters conduct research, write, and broadcast reports about business executives, organizations, market trends, and economic changes. They are essentially lifelong students of economics as it applies to the modern world.
It’s also crucial to have the capacity to write about economic topics in simple terms that the typical viewer or reader can understand.
Alternative economics degree jobs and careers
Are there alternative economic degree jobs and careers? Now that we know the different career options if you have a degree in economics, read on to discover other alternatives if you plan to have an economics degree.
It seems like everything is possible when one has an economic background. Other popular economics professions and positions include auditor, stockbroker, insurance, business manager, retail merchandiser, pricing analyst, statistician, financial consultant, and salesperson.
But if none of the aforementioned options appeal to you, what can you do with a degree in economics? You might also want to think about the following broader options: market research, politics, public relations, social research, IT, media, law, international development, management, human resource management, and taxation. Alternatively, you could even get into business for yourself!
At AdmissionSight, we have more than ten years of experience helping students get through the competitive admissions process to the top universities worldwide. Consult AdmissionSight to find out what we can do to help you be ready and knowledgeable enough to enroll in the institution of your choosing.