Career
in Economics
- INTRODUCTION
- WHY CAREER IN
ECONOMICS?
- CAREER PATH
- CAREER
PROSPECTUS & SALARY SURVEY
- CAREER FOR
ECONOMICS GRADUATES
- CAREER FOR
ECONOMICS MAJOR
- CAREER
DESCRIPTION
- GENERAL JOB
SITES
- ACADEMIC / JOB
SEARCH STRATEGIES
- INTRODUCTION : -
As the world relies more and
more on informational technologies, businesses
and government agencies are turning more to
professional economists to process that
information and provide the analysis for
important decisions. Businesses are especially
interested in trends in housing prices, interest
rates, wages, benefits, and profits which
professional economists are trained to study.
Students majoring in economics will find
increasingly competitive looking for applicants
who distinguish themselves by themselves prepared
for a wide variety of careers. In an job market
for both academic and professional positions,
employers are their commitment to a broad array
of experiences and involvement in the community.
The fact that opportunities. Our graduates have
economics is recognized for both its business and
liberal arts content only increases the future
career banks, oil companies, Fortune 500 firms,
computer companies, brokerage gone on to worked
in, firms, manufacturing firms retail businesses,
state government, secondary schools, private
utilities, and their own companies. Some
economics majors continue their education and go
on to: - Law schools, Business
schools for and MBA,
Graduate schools
Reflecting the complexity of the modern
business world and the rise of multinational
enterprise, the International
Business (Economics) degree provides students
with a thorough grounding in commercial and
business development, international trade, and
commercial policy. Economics is a
long-established discipline of widely
acknowledged relevance and usefulness to the
modern world. Our graduates find that their
analytical and organizational skills, plus their
ability to achieve insights into problems, are
greatly valued by employers in many areas,
including the financial sector, the civil
service, corporate planning and international
institutions.
The study of economics is
relevant to a wide range of careers. The
analytical and technical skills have wide
application in many fields where reasoned
argument, clarity of thought or quantitative
evidence is important. A knowledge of economic
theory and economic processes is also
advantageous for many jobs in both the private
and public sectors. Economics is valuable in any
job that requires understanding of how markets
operate, including jobs in marketing and other
aspects of business. Economic analysis is also
essential for policy-related activities in
environmental, social or industrial policy, in
national or local government and in campaigning
organizations. The study of economics provides
skills for a wide range of jobs and interests.
You will learn analytical skills of reasoning and
of data analysis about decisions, problems and
options faced by society, governments, businesses
and households. Graduates with economics courses
in their degree program have used their studies:
- To become professional
economists in Commonwealth and State
Government departments and agencies, in
large corporations and non-profit
organizations, and in universities and
teaching
- To provide support
analytical skills and knowledge for
specialization’s in other discipline
areas including accounting and finance,
management, law, engineering, sciences,
languages and the arts
- To form a component of a
general education for almost any
occupation you wish to contemplate.
Your Role in the New
Global Economy: -
One of the most significant recent
developments in the globlal economy is the
increasing degree to which more and more
countries are relying on free market forces to
determine economic outcomes. During and
immediately following World War II, governments
controlled and regulated much of economic
activity. They owned a relatively large
share of the world's production facilities and
played a commanding role in determining how the
world's scarce resources would be
allocated. Government expenditures
(especially social transfers) as a per cent of
GDP increased in most countries throughout the
post war period. More recently, however, a
trend toward privitization and greater reliance
on market forces has emerged. Many economies are
currently in transition from closed, centrally
planned systems to open, market oriented
economies. Private enterprise, flexible exchange
rate markets, and free trade have become dominant
forces in the modern global economy.
Whether governments or markets are
predominately driving the global economy, all
economic decisions are based on information. And
information processing is the fastest growing
industry in the world. your role as young
professional economists in this new age of global
markets will be to gather information, process
it, anlayze it, and proffer adivce to government
leaders and corporate managers regarding policy
decisions. The better informed you are, the
better your advice will be. You will play an
important role in shaping world destiny
- WHY CAREER IN
ECONOMICS?
- According to the National
Association of Colleges and Employers,
"Employers look for job candidates
with work experience." The
opportunity to gain on-the-job experience
through ESU's Economics program will make
you more valuable in the job market.
- With a degree in
Economics, you can have a career as an
actuary, investment analyst, portfolio
manager, or strategic planner.
- According to U.S. News
& World Report, banking and finance
are two of the most promising business
fields.
- Newsweek's Career 2000
guide rates the finance profession as one
of the best with mean salaries at nearly
$60,000.
- During your senior year,
you can elect to research a specific area
of economics through an independent
study. In completing this exciting
self-study opportunity, a member of the
Economics faculty will be available to
advise you.
- CAREER PATH: -
The education of an economist
in Australia typically begins with a three-year
undergraduate degree. Economics subjects are only
a part of the program. It is usual to combine the
study of economics with other commerce subjects
such as accounting, finance, management and
actuarial studies. You also have the opportunity
to take subjects from other Faculties, such as
languages, political science, history,
philosophy, mathematics, computer science, and
other sciences. For students planning to become a
professional economist it is usual to study
longer before starting employment by taking an
Honors Year, Graduate Diploma or equivalent
postgraduate qualification. An Honors degree also
opens the way to higher degrees in economics, for
example, a Masters degree or a Ph.D. Further
study enhances skills and signals to employers
that you are an extremely able student
- CAREER
PROSPECTUS: -
The career prospects for
economists are extremely good. Economists have
high starting salaries compared to most
professional groups. They move even higher up the
salary scale after a few years experience. While
no department can guarantee that their students
will receive a high salary, economics majors tend
to do relatively well. The 1994 Digest of
Educational Statistics (Table 378, p. 407)
indicates that in 1990, the mean monthly income
of individuals possessing bachelor's degrees in
economics exceeded the mean monthly income of
individuals with degrees in business
administration and management, other social
sciences, humanities, and most natural sciences.
Click here to see
the mean income of each of the majors listed in
this table.
A 1996 survey by the association of Business
Economists found that the median annual base
salary of business economists was $73,000
(Source: Careers in Business Economics
(1998)). Washington: National Association of
Business Economists. p. 38). This survey also
indicated that the salary of business economists
varied substantially with the level of education,
experience and occupation. Click here
for a more detailed breakdown of this survey
data. Following are the links to
Salary Surveys
- CAREER FOR
ECONOMICS GRADUATES: -
- Economist
- Journalism
- Management &
administration
- Market research
- Banking & Financial
Institutions
- Insurance
- Finance, Brokerage &
Investment
- Labor & Industrial
relations
- Accounting
- Research
- College , Secondary &
tertiary teaching
- Business professions
- Human Resource Management
- International Trade
- Federal State & Local
Government
- Some
Government Employers: -
- Some
Private Employers: -
- Banks
& financial companies:
- Business
& consulting firms:
- BHP
- Western Mining Corporation
- ACI Glass
- Ford Australia
- C.U.B.
Information
technology:
- IBM
- Wang Computers
- dot.com
- Transport
& communications:
- Educational/NGO:
-
- International:
-
- CAREER FOR
ECONOMICS MAJOR: -
Do you
want to climb a ladder to success?
An economics major will help you get your foot on
the first rung of the career ladder for fields
like law, business, public policy, as well as
graduate work in economics and re-lated
disciplines. And while you learn skills that will
help you in your career, you also learn to see
the world around you much more clearly.
Economic theory gives you a
lens through which you can see the world more
clearly.You’ ll be amazed what majoring in
economics can do for you. A major in Economics
prepares students for careers in a wide variety
of private and public sector occupations as well
as for graduate study in economics, law, public
policy and business. Past graduates have worked
as stockbrokers, bankers, union officials, market
analysts, managers, researchers, and
salespersons. Export/import firms, public
utilities, consulting firms, railroads, airlines,
banks and a variety of local, state and federal
government agencies, have employed them. Others
have successfully completed graduate studies in
economics at schools such as Yale, Purdue, UCLA,
Rice, Oregon, WSU and Washington or received law
and MBA degrees at numerous other universities.
The Economics Major provides
students with a strong foundation in economics
and the opportunity to select from a broad range
of upper-division courses. It allows the
flexibility to craft a program related to
individual student interests and goals. For
example, students preparing for graduate school
in economics or interested in a career in
technical economic analysis would be advised to
take a program similar to the Economics Major
with Mathematics Option. Those considering
careers in the private sector are advised to add
a strong Business minor.
Business majors seeking a
strong economics background or a dual major in
Economics should take the Economics Major, if
they want a BA in Economics, or the Economics
Major offered through Business Administration, if
they want a BAB with emphasis in Economics
Don’t
know which career is right for you?
An economics major is a great way to keep your
options open to maximize your career
choices.That’ s one of the reasons why
economics has become the most popular major at
places like Harvard, Stanford and Princeton. We
won’ t kid you an economics major is one of
the most challenging majors on campus. It’ s
difficult, but highly respected by both employers
and admissions boards. For good students willing
to work hard to maximize career choices,
economics can’ t be beat.
Today's business environment
offers many opportunities for students majoring
in economics. With broad preparation in economics
and business, the economics major has
considerable flexibility in the job market. Since
a global economy has increased the demand for
professionals to compile and interpret
statistical information, business organizations
and government agencies hire employees to collect
and satisfy consumer wants and needs, business
and industry employ market researchers to
forecast consumer preferences. In addition, an
undergraduate major in Economics provides a solid
foundation for students who desire to continue
their academic studies and prepare for careers in
education or upper-level positions as economists.
A major in economics might consider employment in
such areas as:
- Banking
- Financial analysis &
services
- Market research
- Economic forecasting
- Business administration
- Marketing and sales
Many business firms and
government agencies send recruiters to campus to
interview our graduates. Faculty members also
work with you to locate job information and
prepare for job searches and interviews
Why Not
a Captain of Industry? How about a Master of the
Universe? : -
You can get an undergraduate major in economics
without taking business courses in subjects like
accounting, marketing, and business or personal
finance. But if you want to study business,
particularly if you want to pursue an MBA,
economics is a great way to go. The best people
are more frequently taking economics as their
major than they were a decade or so ago. "An
Economics major shows you have the fire in the
belly necessary to succeed in an MBA program..
". It shows they have the intellectual fire
in the belly to perform well in an MBA program.
Who said this? The director of admissions at the
Yale School of Management. Whether you want a
career in finance or industry, economics can give
you the reasoning skills to get you started.
Law and
Economics: A Perfect Match: -
Virtually every major American law school now has
at least one economist on its permanent staff.
Why? It’ s because economics has proven to
be a remarkably powerful tool for understanding
the impact of legal rules, as well as where those
rules come from. Economics is all about choices,
and law, after all, consists of rules about how
those choices should be made. Law & Economics
is a natural marriage. But don’t take our
word for it. The director of admissions at
Berkeley’ s Boalt Hall Law School says that
economics is a great major since the logical
reasoning and analytical skills it provides are
critical to legal studies. The data back him up.
Economics majors have earned a higher average
score on the LSAT compared to students taking any
of other common pre-law majors
Qualification
Statements: -
- Strong research, analytical,
communication and technical skills gained
through curricula. (Business)
- Broad finance, marketing, manufacturing
and technical skills developed through
internships. (Finance)
- Marketing research, strategic planning,
promotions, advertising, and sales
talents nurtured by internships and
employment. (Marketing)
- Ability to operate within the confines of
an established budget, keeping balance
between inventory, labor supply, revenue
and expenses consistent. (Management)
- Desire to work in a global investment
bank in order to develop business skills
and to utilize key analytical skills and
financial knowledge gained through dual
degrees in Economics and Computer
Science. (Investments)
- Knowledge of international business
approaches and cultural sensitivities
gained studying, working, and living in
Europe. (Finance)
- ECONOMICS CAREER
DESCRIPTIONS: -
- GENERAL JOB
SITES: -
ACADEMIC / JOB
SEARCH STRATEGIES: -
General
:
- Get experience in consulting, government
and/or business through internships
- Management certificate, related courses,
and technical writing skills are helpful
- Develop strong analytical, communication
and computer skills
- Develop strong writing, speaking computer
and statistical skills
- Become involved with campus
organizations, specifically treasurer
roles
- Secure leadership roles in campus
organizations
- Plan internships and pursue a management
certificate
- Strive to work well in cross-disciplinary
teams
Education
:
- Utilize student employment to find a
part-time job on campus
- Need proper certification to teach in
public schools
- Investigate opportunities with Teach for
America, Teach Abroad, AmeriCorps and/or
Peace Corps
- Inquire about Teacher Assistant
opportunities as an upper level student
Economic
and market Research :
- Clusters in: • Applied Economics
• Theoretical Economics •
Public Policy • Legal Studies •
Math and Statistics
Consulting
:
- Consider certificate in Management
Studies focusing on: • Personnel
Management • Accounting/Finance
• Public Sector Analysis •
Information Systems; Clusters in: •
Organization • Business Computers
Business
& Banking :
- Consider certificate in Management
Studies focusing on: •Personel
Management • Account Finance
•Public Sector Analysis •
Information Systems; Clusters in: •
Organization • Business Computers
For any Corrections
or updation E-mail
me
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