People who graduate university with degrees in economics have a wide array of choices when they enter the job market. Economics graduates can obtain careers in many different fields that demand an understanding of markets and rational choice. While some of the opportunities require advanced degrees, many positions are available for those who have just finished their studies.
Government
Governments have traditionally been the largest employers of economists throughout the world. Economics graduates can get a number of different types of government positions that involve analyzing data and setting policies.
Sales and Marketing
Individuals who work in marketing ensure that products have benefits and features that help them sell well in the marketplace. In addition, they create promotional strategies, set pricing and determine how things will be produced. Marketers use product testing, focus groups, surveys and quantitative data to make sure that a product sells well. Many market research firms have positions available for people with an economics background.
Public Finance
Graduates who take careers in public finance will be involved in studying the government’s impact on the overall economy. These people serve the public by working with non-profit groups, highway systems, transit agencies, airports, housing finance agencies, cultural institutions, major educational institutions and school districts, hospitals and utility systems. The may use their expertise in order to create customized solutions to problems that affect both public and private organizations.
Public Policy
Economics graduates who are interested in using their analytical skills to help communities improve should consider working in public policy. This allows them to make decisions that will affect local communities and the people who live in them. Individuals who work in public policy find solutions for community problems and advocate for change.
Urban Planning and Real Estate
People who are interested in serving clients, negotiating and financial analysis may choose to work in real estate or urban planning. Real estate professionals take charge of every step that is involved in developing homes and buildings. This includes financing, acquiring land and preparing for construction. Economics degree holders may also work for brokerage firms that specialize in residential and commercial lending.
Finance, Business, Pensions and Banking
Studying economics is a great choice for people who want to work in business or the financial sector. A degree in economics will help people understand how economic systems operate. Individuals with a background in economics can help businesses run efficiently using their understanding of the way that markets work. They can also work as analysts and investment planners for major banks and financial institutions or pensions analysts and pensions administration companies. These professionals generally help people and companies invest money in a way that makes them more profit over time.
Economic Development
Many economists work in the field of economic development. They focus on enhancing economic growth in communities by creating jobs, improving quality of life and expanding the tax base. However, people who work in economic development face a unique set of challenges. Each community has its own strengths and weaknesses that need to be taken into account in order to grow the local economy. Professionals who work in economic development may be tasked with improving public services or local business climates. They may also deal with government policies that deal with things like sustainable growth, employment rates and inflation.
With all of these options available, economics graduates have many possibilities for finding a rewarding career. In addition, many of these jobs offer very lucrative salaries. However, the jobs available for people with degrees in economics are often highly specialized. With this, job seekers should make an effort to differentiate themselves in order to find a position that suits them best.
About The Author
Frank's a keen blogger and writes about lots of business subjects from economic development through to pensions.
