Economics is a broad social science discipline, which can deeply understand various problems about money, market, productivity and wealth. According to university teachers, an economics degree can give students a deeper understanding of how companies and financial systems work. Experts say that the knowledge gained through this degree can be applied to countless jobs. "Students with a degree in economics can engage in the following industries: market analysis, economic consulting, day traders, analysts, financial analysts, management consultants and financial consultants," Ishraq Ahmed, an assistant professor of economics at Black Hill State University in South Dakota, wrote in an email. "With an economic background, people can also start small businesses or become entrepreneurs."
Ahmed holds a bachelor's degree, a master's degree and a doctor's degree in economics. He said that the employment opportunities that an economics graduate can choose depend on the level of his or her highest degree in the subject. "Individuals with a bachelor's degree in economics can get various entry-level positions in banks, financial institutions and government agencies, such as financial analysts, credit analysts, market research analysts and research assistants," he said. "With more experience and training, they can eventually become economists, management consultants and financial managers. Many consulting and government high-paying positions and some research and policy think tanks have master's degrees in economics. "
Ahmed pointed out that students who are interested in complex and high-profile economic work tend to pursue doctoral degrees. "If individuals are interested in teaching economics in colleges and universities, conducting academic research on various social and economic issues, and conducting policy research through think tanks, research institutions, multilateral organizations and government agencies, they can get a doctorate," he wrote. Ahmed added that those who choose to pursue a doctorate usually focus on a specific field of economics, such as labor economics or international economics, and the types of jobs they usually agree with after obtaining a doctorate. Ahmed said: "The international trade institutions of the World Trade Organization and international financial and development institutions such as the International Monetary Fund (IMF) and the World Bank will hire a person who specializes in international economy."
People who have a doctorate in economics say that there are many misunderstandings about what the field of economics contains, and emphasize the importance for future students of this subject to know what they can expect to learn. Experts say that a common and inaccurate assumption about economic research is that the subject is to learn how to play the stock market. "Economics is not about choosing stocks," said Kenneth Sanford, a Ph.D.-trained economist and data scientist who teaches executive MBA courses at the University of Kentucky's Garton School of Business and School of Economics. "This is not necessarily related to whether the economy is growing or shrinking ... I hope students can understand that the most important thing in economics is whether it will grow more widely than your 40 1(k) in the next 12 months".
Experts say that economics is a broad social science discipline, which can provide insights on various issues such as money, market, productivity and wealth. Some questions that economists may investigate include how supply and demand affect the prices of goods and services, why the market booms and busts, and which incentives are most attractive for individuals to make financial choices. "I think this is a prejudice against economics, but it is actually about making decisions and using strategies to get ... the best decision," said Roberto Pedas, professor and head of the economics department at Scripps College in California. Peders said that an example of the financial decision-making process that economists may study is how job seekers determine the company they want to work for and how they evaluate job opportunities.
He pointed out that daily financial choices like this are the core of economic research. "Unfortunately, some economic factors in the media have been emphasized more by the media," Peders said. "Therefore, students finally have these preconceptions about the content involved in the economics course." Reuben Yonatan, founder and CEO of GetVoIP Communication Technology Company, said that he likes to recruit fresh graduates of economics because the holders of these bachelor's degrees in economics have the data analysis skills and understanding of the economy needed to predict the future business environment. Johnathan wrote in the email: "It is very beneficial to let my small company know the bigger economic trend."
Economics teachers say that they provide students with the necessary information in order to put forward wise opinions on the government's supervision of economic activities and political disputes over government investment in the economy. Ahmed said: "People can also look at contemporary issues from the perspective of economists, such as health care costs, international trade and unemployment, as well as other social issues, such as crime, abortion, climate change and pollution." "A degree in economics can help individuals analyze these problems, and even more. It can be used in public policy, finance, industry and the forces driving the economy. "
Experts say that because economics courses usually involve in-depth policy analysis, graduates of these courses are often attractive employees of policy think tanks. Experts say that the critical thinking skills of these graduates are valuable and marketable for career paths in both the private and public sectors. Joanne Sonenshine, a development economist and business owner with bachelor's and master's degrees in economics, said that the best way for a person to decide whether an economics degree is the most suitable is to reflect on what kind of thinker he is. "Economists are good at analysis and usually think in the left brain." Economics courses are very suitable for those who solve problems from a very organized perspective, and they like the explanation of the order, discipline and step-by-step method of large-scale projects, "she wrote in an email.