An Economics degree is evidence that you have a broad understanding of issues that affect financial decisions and situations. Although it may seem like it’s all about money, it’s actually about how people and groups behave when they use money or its equivalent.
An Economics degree can come in the form of a Bachelor of Arts degree, in which it is usually combined with social sciences subjects like psychology and sociology. It can also be a Bachelor of Science degree, where the focus is more on statistics and mathematics. Either way, it involves the investigation of empirical data.
The two basic fields of study are microeconomics and macroeconomics. Microeconomics looks at the actions and interactions of individuals and institutions. With macroeconomics, you look at it on a national, regional, or global scale.
Economics is such a broad field that you can find many narrower niches to specialize in. You can focus on developmental economics, and try to investigate ways in which developing countries can improve economic growth. You can focus on certain segments such as the labor force, concentrate on the economics of a particular country, or you can focus on a particular type of policy such as taxation.
What Can You Do with an Economics Degree?
There are lots of possible careers for you when you have an Economics Degree. In the public sector, you can work with the government as an economic policy analyst to analyze or even help formulate policies which can affect the local or national economy. You can use your understanding of economics to help understand what’s going on in the economies of other countries. You can also help bring about better trade relationships between nations.
In the private sector, you can help any company by working in one of the various departments that affect its finances directly. As a business manager, you can be responsible for overseeing the revenue and expenses of the company. You can work in the marketing department and calculate the demand for certain products and services, determine the right prices for these products and services, and by identifying new products and services needed by consumers.
Of course, you can also work at a bank. You can also work for stock and commodities trading companies so that you can use your knowledge of economics to identify which stocks and commodities to trade and invest in. You may also work for insurance companies as well.
You can also work as a financial advisor for companies or for individuals. You can help a company or a person by identifying business sectors or particular stocks to invest in.
You can become a research specialist and focus on gathering economic data for analysis, or you can also be a journalist or teacher focusing on economics.
What are the Best Schools to Get an Economics Degree?
American universities dominate most lists of schools which offer the best Economics programs.