Bachelor in Economics: What can I do with it?
Thursday, 11 November 2021
If you are considering pursuing a bachelor’s degree in economics, here’s everything you need to know about this field, what you will study, and the job opportunities these professionals can expect to have.
Are you an analytical thinker? Are you fascinated about the world around you? Are you interested in understanding individuals, businesses, markets, governments and how all of these work? A bachelor’s degree in Economics is definitely the way to go!
Economics is the perfect match for analytical people who want to find answers about how the world works. With a bachelor’s degree in economics, you will be able to respond better to threats and opportunities that emerge when things change.
Are you interested in pursuing a Bachelor in Economics? Let’s dig a little deeper into this degree and the career it leads to.
What is Economics?
Economics is the science in charge of the production, distribution, and consumption of goods and services. Professionals in the area of economics study how individuals, businesses, governments, and nations make decisions about how to allocate resources with the objective of seeking the most optimal benefit or utility. The main task of economics is to determine which methods of human labor yield the best results.
In a nutshell, economics is mainly concerned with efficiency in production and exchange and uses models and assumptions to understand how to create incentives and policies that will maximize efficiency.
Bachelor in Economics’ curriculum
Economics students are prepared to gather, organize, and interpret data using mathematical formulas and statistics to make calculations. In addition, they learn to create models to predict the impact of investments, policy decisions, industry tendencies, demographics, climate change, among other things.
During a bachelor’s degree in economics, students acquire demanded and transferable skills that prepare them to compete in the workforce.
With the problem solving and analytical skills students develop during bachelor’s degrees in economics, they are well-positioned in our competitive and ever-changing world.
Even though analytical thinking and problem solving skills are essential for these professionals, they also need to develop solid communication skills, as they must be able to put complex findings into a format that business leaders, legislators and common people can understand.
Job Opportunities a Bachelor in Economics leads to
The knowledge and skills students learn during their bachelor’s degree in economics prepare them to work across a wide range of job options.
The following are some of the career paths for those with a bachelor’s degree in economics:
Market Research Analyst
Market research analysts tap knowledge of industry trends to assess the ways in which products and services might fare under various economic conditions.
Economic Consultant
Economic consultants use analytical and research skills to conduct studies considering economic scenarios. Their main job is to assess industry trends to help any kind of organization, including business, finance, healthcare, education, the government, among others, improve their performance.
They can also work in legal cases as expert witnesses to analyze economic damages, assess intellectual property and antitrust laws violations, among other things.
Compensation and benefits manager
They are in charge of studying trends in the job market and assess supply and demand for various classes of jobs. They evaluate options for pay and benefits in similar organizations within their industry in order to establish a competitive structure for their company’s pay and benefits.
Actuary
These are business professionals who deal with the measurement and management of risk and uncertainty. The likelihood of fires, deaths, illnesses, and business failures is what they are mainly in charge of assessing and trying to prevent.
Credit Analyst
Their main job is to assess a loan applicant’s ability to repay the loan and, depending on what they find, to recommend that the loan is approved or denied. They can work in banks, credit card companies, credit rating agencies, investment companies, among others.
Financial Analyst
They work for banks, pension funds, insurance companies, among other businesses to guide them in decisions about expending money to attain profit. They are mainly in charge of assessing the performance of stocks, bonds, and other types of investments.
All of these job titles’ employability is expected to grow in the years to come because of the important role they play in enabling any kind of organization and even individuals make wise economic and financial decisions that positively affect their future.
But these are only some of the job options you can expect to have with a Bachelor’s degree in Economics, as their knowledge and skills prepare them for a wider range of careers, even in politics.
The skills they earn, together with the knowledge these professionals earn during their studies, enable them to succeed in a wide range of career paths, including law, risk management, actuary, finance, foreign affairs, politics, public administration, health administration, entrepreneurship, market analysis, journalism, among many others.
If you are interested in studying a bachelor’s degree in economics, click here to find the best programs available.
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