What Kind Of Career Can A Degree In Economics Set You Up For?

Ken Karlo Staff, Staff — Mon, 10 Jan 2022 22:36:44 PST

Degrees in economics are highly thought of, but the path from studenthood to a flourishing career is not a simple one by any means. Here are a few of the fields in which economics majors frequently succeed. Economic principles can be applied to all sorts of fascinating and challenging work.

Accountancy

Earning an economics degree online is a good way to prepare yourself for a career as a chartered accountant – although it is worth noting that there is another qualification needed before you become chartered. Accountants are number crunchers, but they also need a robust knowledge of economic research and analysis techniques if they are to work successfully.

Financial Advisor

A degree in economics can help an experienced businessperson develop a career as a financial advisor. Financial advisors give sage, data-driven strategic advice to people or companies looking to make investments. All investment involves risk, and financial advisors need to be able to calculate and offset the risks faced by their clients using their knowledge of the market and economic trends.

Business Development

Often brought in as third party consultants, business development specialists help to shape the strategic planning that occurs within a business. This is a very wide-ranging role that involves the harnessing of all the skills learned during the course of an economics degree.

Economist

Unsurprisingly, a degree in economics is a good way to foster a career as an economist. Economists use data analysis, market modeling, and all sorts of other techniques to offer advice on the economy. For the most part, this involves advising private companies so that they can develop sound business strategies. Economists typically report to senior strategic staff and are key sources of information. Some economists do not report to private businesses but to government agencies or NGOs. Government-employed economists are key to the creation of sound fiscal policy. Their advice can help or hinder a nation and has absolutely vast consequences.

Data Analyst

We live in the age of big data. The term big data is actually rather vague. It refers to any collection or analysis of datasets that are so large they can only be managed with the help of automation and scalable storage. Big data is immensely useful for companies or governmental organizations looking to understand the public, the market, or potential challenges in the future. A degree in economics is a good way to enter the world of data analysis. Many of the analytical skills used in economics prove very useful when it comes to working with data. Economics is increasingly dependent upon data collection and analysis, and good modern degree programs reflect this by including a great deal of work on the use of data. People with provable data analysis skills are extremely useful to companies looking to exploit the data deluge, so do not be surprised if many economics majors this year are headhunted by companies looking to make use of their data analysis acumen.