Business economists are prepared to help firms understand and adapt to a changing economic environment. The range of jobs for economists in government is as broad as government itself. Government economists work for agencies in the fields of agriculture, business, finance, labor, transportation, utilities, urban economics, and international trade. Mason graduates also get government jobs at the state and local level.
Virginia requires economics education and financial literacy as party of the high-school curriculum. Students who pursue graduate-level training in economics may go on to teach at the college level. Mason students also find jobs with international lending institutions such as the International Monetary Fund and the World Bank, think tanks such as the American Enterprise Institute and Brookings, chambers of commerce and trade associations, labor unions, and in the nonprofit advocacy world.
Here are some of the job titles recent Mason graduates have:. The field can be separated into macroeconomics, focusing on the economy as a whole, and microeconomics, which focuses on individual businesses and people.
Economics affects nearly all aspects of our lives. It's a broad subject area that equips you with skills that are needed in a variety of sectors and professions.
Economics helps us understand the world around us and how it really works. It also helps us to understand people, governments, businesses and markets and why they make the economic choices they do. Studying for an economics degree will equip you with analytical and problem-solving skills, which will allow you to succeed in a wide variety of careers such as law, actuary, finance and foreign affairs.
The figures vary depending on location, experience, and chosen sector. Typically, those working in financial services, banking and consulting, earn the highest salaries. Economics is such a versatile subject and so widely used in day-to-day life, that graduates of the subject can expect great career prospects.
Employment in the economics profession is already high and is projected to grow over the next decade. Organisations across many industries use quantitative methods and analysis to create accurate forecasts for market trends. Demand is expected to be very strong for skilled professionals who understand big data in pricing and advertising.
Economics is so versatile and widely relevant, that it works perfectly in combination with other subjects. As one of the social sciences, economics can easily partner with sociology, political science, anthropology and psychology.
All of these subjects study the human behaviour, both individually and in groups. Not only is economics related to these other disciplines — they all actively complement one another. An economics degree will provide you with subject-specific skills, such as the application of economic models and principles, financial markets and so on. However, you will also gain skills that can transfer to many other subjects and professions.
An education in economics can improve your employability in a variety of industries. According to the World Economic Forum's Future of Jobs Report , analytical thinking and complex problem-solving skills top the list of skills that employers will find increasingly important by , both of which can be gained by studying economics.
In addition, many careers require knowledge of economic concepts, models, and relationships. Some possible career paths for economics students include finance, banking, insurance, politics, and healthcare administration. There are many options available for those looking to pursue an education in economics. Depending on your personal and professional goals, your current stage in life, and other important factors, you may choose to pursue an undergraduate or graduate economics degree or take an online economics course.
Whether you're new to the business world or an experienced manager, having a thorough understanding of how markets work, pricing strategy, and consumer behavior is essential to success. Do you want to take your career to the next level? Explore our eight-week online course Economics for Managers or other business essentials courses to learn how to apply economic principles to business decisions. This post was updated on May 11, It was originally published on November 30,
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