Having a degree in economics will enhance your employ ability in different areas, regardless of the industry you are in. There is a strong demand for highly numerate graduates across the worldwide labor market, and the widely transferable problem-solving and analytical skills developed by the economics students signifies that careers in economics are diverse.
What can you do with an Economics Degree?
Some of the prominent career paths for economics graduates are:
- Financial risk analyst
- Data analyst
- Economic researcher
- Financial planner
- Investment analyst
- Financial consultant
While some people chose to continue to study economics at a graduate level, this is not a necessity to find a good graduate job. This should not discourage you from the further study if you aim at highly specialized roles like becoming a professional economist, but it is useful to know that careers in finance and other sectors are widely available to those who have a bachelor’s degree.
Professional economist careers
While working as a professional economist, you will be involved in analyzing and researching economic data, trends, and issues. For most of the economist careers, you will have to study economics at a postgraduate level to attain the specialist skills needed. To be an expert economist you must be confident in delivering economic forecasts and reports to be presented to clients (companies, public bodies, financial organization, individuals) and to give suggestion on policy or business strategy accordingly.
Possible employers include national and local government, private and public banks, think-tanks, insurance companies, financial consultancies, local authorities, and accountancy. A sound awareness of economic contexts and current affairs is important in these roles.
Economist careers in banking
Banking careers are very popular with economics graduates, providing scope for high earnings and have a high demand for economists. Graduates who have a background in economics are specifically valued for roles in financial planning financial control, consultancy, and data analysis. With a focus on keeping the financial needs of businesses and clients on track, banking career is mostly concerned with advising and offering services for a wide range of banking clients and customers.
Economist careers in accountancy
To become a qualified accountant, you will need further professional qualifications, but there are many accountancy roles are available to those who studied economics. As far as accounting roles are concerned, one can work across different industries, mainly focusing on supervising the financial situation of a company, individual or business. Careers in accountancy typically focus on classifying, interpreting, communication, and recording financial data.
These careers need strong analytical skills, computer literacy, mathematical proficiency, an understanding of all the elements of company expenditure, and the capability to contextualize the collected data. An economics graduate is most often able to make sense of difficult data sets and identify the root cause of financial issues, making them a good match for accountancy roles.
Economist careers in financial and business consultancies
Economics experts are at the heart of the financial consulting and business world. Economics graduates may find positions in medium-sized and large companies where economic research is needed. The role of an economic researcher needs in-depth knowledge of economic models and theories, through problem-solving and analytical skills along with mathematical ability. Financial consultants in economics would fill similar roles but may work for different customers instead of just a single company, generating reports and advising on business strategies. Up-to-date industry understanding and knowledge of corporate finance are important in these roles.
Having a background in economics makes everything possible. Some other economics careers and roles include stockbroker, auditor, business manager, pricing analyst, retail merchandiser, financial consultant, salesperson, and statistician.
But, if the above careers do not appeal to you den you can consider these wider options like international development, business intelligence, IT, human resource management, management, politics, law, public relations, and taxation.