About Economics

Economics is the study of the production and distribution of goods, land, services, and raw materials. Basically what economists do is analyze how people create goods and services by allocating limited resources like technology, labour and natural resources. Given the wide range economics covers, most economists specialize in particular fields of study such as financial, environmental, and political economics.

The nature of Economics favors quantitative skills and critical thinkers.

Economists take the theories and trends they find and apply them to advise many different organizations and industries in planning and descision making. They use many different methods for collecting that data. They do this by researching and monitoring things like exchange rates, business trends, taxation, surveys, inflation, and costs of materials. They then identify trends and develop predictions based on the data samples collected. Some of the data collection methods used include randome samples and math and statistical models.

Economists can get into many toles including the below:

• Microeconomists - Economists who study individual companies or people
• Macroeconomists - Economists who look at the economy as a whole to find long-term trends
• Financial Economists - Financial Economists study interest rates and their effects on banking systems and the countries monitory policies
• International Economists - Economists who look at markets internationally, studying currency exchange and the foreign policies and trade procedures and laws
• Organizational or Industrial Economists - Economists who study the markets of individual industries, examining competitors and making predictions based on the decisions of competitors
• Demographic or Labor Economists - Economists who look at trends in salary, such as how it’s determined, and the need for labor
• Public Finance Economists - Economists who look at the government’s involvement in the economy, such as taxation, deficits or surpluses in budget, or government financial policies
• Econometricians - Economists who use mathematics in all branches of economics. They put together economic models using methods like calculus and regression analysis

Careers Opportunities in Economics

Jobs directly related to your degree include:

• Chartered accountant
• Chartered certified accountant
• Chartered public finance accountant
• Economist
• Financial risk analyst
• Investment analyst
• Statistician
• Tax Economist
• Agricultural Economist

Jobs where your degree would be useful include:

• Accountant
• Actuary
• Claims Adjuster/Examiner
• Credit Analyst
• Insurance Agent/Broker
• Stockbroker
• Underwriter
• Demographer
• Government Economist
• Bank Research Analyst
• Financial Analyst
• Financial Researcher
• Construction Estimator
• Foreign Correspondent
• Institutional Researcher
• Statistician

Who are the Employers?

Employment can be found in the following industries:

• Agricultural companies
• Analysis / forecasting firms
• Banks and other credit institutuins
• Economic research institutions
• Environmental protection agencies
• Government
• Insurance companies
• International trade companies
• Investment dealers
• Manufacturing firms
• Entrepreneurship
• Healthcare institutions
• Marketing and Retail firms