To be successful in economics education, you should have high grades in mathematics and the innate ability to memorize and comprehend philosophical theories. Those with quantitative skills, critical thinking skills and a passion for statistics will do well in the economics research industry. As an economist, you will analyze how goods and services are created to keep up with consumer demand. You will also see how resources (raw materials, land, technology, intellectual property and labor) are distributed. You’ll look at labor trends, exchange rates, government policy, employment rates, inflation and global material costs. To be competitive, you should pursue your PhD, although there are a number of jobs that are also open to students with four-year degrees.
People who have obtained bachelor’s degrees in economics education have a good selection of job opportunities, according to data collected by www.payscale.com. Currently, the top jobs held by individuals holding a bachelor’s degree in economics are Financial Analysts ($54,100), Accountants ($45,900), Financial Controllers (F($84,100), Operations Managers ($70,600), Operations Managers ($70,600), Corporate Financial Analysts ($63,400), IT Project Managers ($94,700), Business Process Consultants ($104,000), Personal Bankers ($37,600) and Business Analysts ($65,900). During undergrad, students will take tons of math courses, as well as philosophy, economic theory, business management and business writing courses.
For more career opportunities, students pursue economics education to get their master’s degrees. According to www.payscale.com, the most popular jobs for those with a degree in economics are Corporate Economists ($55,000), Economists ($50,000), Senior Financial Analysts ($62,000), VP of Sales ($80,000), Marketing Research Analysts ($60,000), Associate Business Analysts ($80,000) and Pricing Analysts ($60,000). Students pursuing their master’s will take advanced statistics, math and theory. They’ll gain hands-on experience through co-ops with institutions and will begin to follow a narrower path or area of interest. They may concentrate on finance, law, applied economics, analysis, health economics or economics history.
The best advice former economics education students can give is “take more mathematics courses.” Econometrics courses are the heart and soul of this major, so do not skip over it. “You can pick up the economics as you go along,” says one graduate, “but you can’t learn the math and still keep up.” Learning differential equations, real analysis, advanced calculus and statistics are the key to your success in the higher levels. Attending seminars and pursuing internships outside your economics college will come in handy too, students say. Essentially, you want to be an expert in your field, so you must embed yourself into the scene and identify what issues and topics are important to economists as a whole. This can be kept up with by reading The Economist and The Wall Street Journal.
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