When most people hear the word economics, most people think of the economy, and rightfully so. But when discussing the different fields of study regarding economics, there is much more to it.
Overview of Skills for Careers in Economics
Skills
When you go to a college or university to study economics, you are most likely learning an advanced level of math along with macro and micro economic theory. This math then corresponds to real-life learning how to apply theory to economics questions and use math to evaluate.
This being said, there are so many different variations of economic studies that the undergraduate degree doesn't do the field any justice. The undergraduate degree helps people who are seeking jobs in economics develop a basic set of skills.
A job in economics requires problem-solving skills, a substantial math background, and the ability to apply theory into a real-world context. Not all people have these select few skills, and most people who possess these skills become sought after employees.
Salary
Because people with an economics degree are in demand, you can make up to six figures when you enter the workforce. Some people dismiss the thought of getting a degree in economics because of the lack of glory surrounding the field, and course work can be very challenging.
They learn more specialized techniques when they enter into the field that they choose. Below are some great careers in economics based on the areas and requirements needed to maintain one of these jobs.
Financial Risk Analyst
This is a decently paying job that combines math skills and the ability to make tough decisions. These are the people that either accept or deny your bank loans. The average salary per year is around 80,000 dollars.
Economic consulting
Someone studying economic consulting needs to have the same math skills as every other job in the field, but they also need to know how to work with people. This is something that people who have the mindset for economics can struggle to do sometimes, so this job is highly sought after by many employers.
Accountants
Accounts do what is in the name. They account for all of a company's financial records. They make sure everything goes smoothly with taxes, tax returns, write-offs, etc. This is a job that does not take some outside skill that does not revolve around math and theory. Therefore, anyone interested in economics can do it.
Conclusion
If you have any math skills and are considering a career in economics, take into consideration all of the following. What kind of degree do you have, what kind of salary are you making for your lifestyle, and are you happy? These are the questions you need to ask yourself before considering a job in economics.
But, there is a significant emphasis on the last question, are you happy? You have to be comfortable with what you are doing for the rest of your life, and your happiness should be your biggest priority. Everything else will come.
