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A parent. An employer. A careers adviser. Some of the popular job profiles available for economists in government and private sector are listed below:. Research Economists: Their job is to develop mathematical models to explain and interpret business cycles, inflation, demand, supply effects of tax policies or unemployment Use Mathematics and Statistics to the theory and principles of Economics.
They apply econometrics for analysis and prediction of all economic activity. Industrial Economists: They study the organizational structure of a company or a business to maximise the use of assets to increase the profits.
Apart from this, they also investigate the methods of costs, analyse market trends, study demand and supply in relation to industrial policies. International Economists: They study, collect, and analyze the data related to foreign trade and how can it be profitable for the home country. They work and establish international trade policies, exchange control and operation of foreign exchange.
Econometricians: They develop models and make use of mathematical analyses to study and test economic relationships. To study the same use techniques like calculus, regression analysis, game theory among others. Financial Economists: Their job role is to develop monetary policies, predict future financial activity. The financial economist also studies banking methods, credit structures etc. They make decisions about company policies, plan future business activities in relation to general business conditions, national and international trade policies, governmental regulations and directives.
Labour Economists: They study the supply of workers and the demand for labour by employers. They also study research on employment levels and how wages are set. They also analyze the effects of labour-related policies—such as minimum wage laws—and institutions, such as unions. Business and companies across many industries use economic analysis and quantitative methods to analyze and forecast business, sales, and other economic trends.
At City, University of London our Economics degree programmes are designed to give you a solid foundation in economic theory and empirical research that will prepare you for a range of career options in industry, government and academia.
If your first degree is in a different subject, you may still be able to start a career as an economist if you have a postgraduate degree in Economics.
As an economist, you can expect a varied role encompassing many aspects of economic, financial and social policy. You will have a range of responsibilities, including:. Whatever your level of interest in becoming an economist, City's courses can help you take one step closer to a career as an economist, develop specialisms that'll set you apart from the field or broaden your horizons with study in related subjects.
Major financial organisations such as the Bank of England also offer graduate training and development programmes. The GES runs a summer scheme offering work experience placements ranging from six to 12 weeks. Once you acquire an internship, you should take the opportunity seriously. You'll want to take advantage of the chance to do hands-on work alongside full-time, practicing economists who can teach you about the complexities of the field. Many economists choose to earn master's degrees to further hone their skills and build differentiated knowledge sets.
Each of these degrees comes with their own specialized benefits. Earning an MBA can help you build a broader foundation of business knowledge and how financial industries may impact economics. Comparatively, pursuing either an MA or MS can help you build a deeper understanding of economics and prepare you to work in more specialized fields of economics. After graduating with a master's degree, you should plan on pursuing work opportunities. Where you look for work will depend on what field of economics you've specialized your education in.
If you're interested in working in the private sector, you should seek opportunities with employers like real estate firms, utility companies and financial institutions.
Comparatively, if you're interested in serving public interest, you should seek opportunities with socially responsible corporations, governments, universities, startups and nonprofits.
Once you find a job, you should aim to earn at least a few years of steady work experience before considering any shifts in your career path. It's important to carefully develop your skills through gaining work experience. Some economists choose to earn their doctoral degrees to pursue academic research opportunities and a more specialized education.
The type of classes and workshops you will take in a doctoral program will depend on the type of field you've chosen to work in. Despite this, for most degree candidates, the most compelling part of doctoral programs is completing a comprehensive research project and dissertation in their field of study.
While this type of work can be quite demanding, it can help you develop high-level skills that are incredibly valuable while serving in the field of economics.
In addition, after earning a doctoral degree, you will be eligible for prestigious work opportunities, like teaching at the university level and consulting as an expert economist at high impact organizations. Entering the economics field and finding the right work experiences that fit your needs can be challenging at first for many candidates.
Here are a few tips you can use to ease your transition into the economics field:. It's important to develop the specific and practical skills you'll need to work in your specialized field of economics. You may need to know how to use your critical thinking and analytical skills in specific ways in order to be successful.
When entering the field, you may choose to take on relevant internships and other opportunities to sharpen your skill set.
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