Economics Career Opportunities and The Various Specializations In an Economics Course

If one is looking at pursuing economics career, then one has many job opportunities to choose from. That’s mainly because according to ‘The US Bureau of Labor Statistics’, there’s going to be over 40% growth in jobs in economics in the coming ten years. That is quite obvious with the growth in the corporate sector that involves jobs in economics like that of a ‘Market Analyst’, who analyzes the market for suitability of the particular entity’s interest.

The other opportunities are that of Policy Analyst, Business Forecaster, Financial Analyst, Budget Analyst and Pricing Analyst. All these roles are currently assigned to those with a degree in Commerce or Management. That’s because most of these degree programs include a subject called ‘Managerial Economics’.

So, if one is planning to get one of the many jobs in Economics field, then one has to also plan one’s economics course accordingly. One’s degree in economics could be a bachelor’s degree in Economics, an economics masters degree or PhD economics degree. However, one must note that at some point in one’s career, qualification matters, and that too mainly when growth is concerned.

While planning a degree in economics, one must bear in mind to choose from one of the six major specializations. That could be ‘Econometrics’, which happens to be a combination of ‘Economics’, ‘Statistics’ and ‘Mathematics. This is a study where the knack of converting qualitative data into quantitative data is learnt.

The second and third specializations would be ‘Macroeconomics’ and ‘Microeconomics’. In the simplest words, ‘macroeconomics’ is taking a bird’s eye view of the mass aggregates such as ‘Employment’ and ‘National income’, while ‘microeconomics is taking a worm’s eye view of individual consumers. The fourth specialization is ‘Applied Economics’, and the name itself explains that this is a specialization in an economics course that requires practical application of the various economic theories.

‘Economic Policy’ includes regional analysis, land utilization planning, spatial analysis and other factors that influence the economic planning involved, and purpose that is required in formulation of ‘Economic Policy’.‘International Economics’ is a specialization in an economics course that concentrates on trade related issues, foreign exchange rates, and other such matters that come within the scope of international economics, or study of the economies of one or more nations.