So is it that while studying economics at school or college has always interested you to pursue a career in this field? Well, if you are keen to be an economist it is essential that you know about all the other aspects that you need to possess to be a competent professional. This article will give you a detailed insight on all the requirements you should be adhering and the possible opportunities where you can make a flourishing career as an economist.
Who are the Economists?
In simple terms, economists are those educated professionals who have in-depth and insightful knowledge of the economy and are capable to provide sound analysis on the same. They do this by analyzing and studying both the quantitative as well as qualitative data which they gather from reliable sources pertaining to the economy. They conduct research, study other existing research materials, analyze trends, then asses the possibilities, outline the predictions based on that analysis and ultimately suggesting ways for an effective implementation and efficiency.
The Eligibility & the Course
Although there is no end to study this subject but if you are keen to join an organization the minimum eligibility you require is to have a bachelor’s degree in economics. The course components of the subject include business, mathematics, statistics, accounting, law, political science, history or sociology. Graduating with this degree will fetch you job opportunities pertaining to gathering, incorporation and preparation of data. If you aspire to do a job for the government or go into teaching, you might need a master’s or a PhD in the subject. This would make you learn more specialized subjects including topics of regression analysis, econometrics, etc. It is important that you are good with numbers and calculations to ensure a smooth career as an economist.
Suitable Job Openings
Economists can seek for job opportunities across multiple industries including the government, banking and finance sector, and trade. For example depending on your skills and knowledge, you might get interesting job openings such as bankers, statisticians, stockbrokers, equity & financial research analysts, which are basically jobs in the financial sector based on responsibilities pertaining to systems modeling. Working with the government will give you an opportunity to work with highly respected dignitaries and even interact with them.
If you are through with a PhD and research, you can easily become financial journalists; Research, Financial or Business economists, which would require you to do both research and write. Other interesting and lucrative career options for an economist is to pursue include Agricultural economists, Labor economists, Industrial economists and International economists. Most of these jobs would entail the following job responsibilities:
- Use mathematical and statistical theories and applications to analyze gathered data.
- Plan and formulate strategies & policies for an organization you might be working for achievement of the overall objective.
- Extensive research of both the national as well as the international economies; compare the differences and predict a valuable finding for the benefit of the company.
- Apply various economical strategies and techniques for any economic activity.
- Study, examine and establish various trade policies, regulations and directives.
If working for an industry, as an economist would require identifying effective techniques of marketing policies methods for financing, production costs, for a better output.
Said by the Experts
It has been found that the biggest employers of economists across the globe have been universities and research groups, following the Government. The veterans of this field have shared that they are into this profession because of their keen interest in this subject. They also suggest that being an economist gives you a satisfaction as result of various insightful discussions, detailed analysis and healthy arguments. A very respectable profession, building career as an economist will not only ensure you excellent salaries but dignified job opportunities in your as well as other international countries.
Author Bio- KunalChhibber has years of experience writing unique articles covering the insights of the education sector. His high quality content combined with the detailed knowledge of this diverse sector is eminent in his articles. Other than being an accomplished writer he has been devoting his time to his passion for music as a part time DJ.