Merging maths with Liberal arts
If aspects like ‘employment rates,’ ‘inflation,’ ‘taxation’ and ‘exchange rates’ interest you, and then in all probability, an ‘economist’ is what you should be! Economics is a very expanding sphere that involves studying national and international trade, demand and supply of goods/services, use of limited resources, workings of the stock market, business trends, agricultural growth, industrial productivity and the financial standing of countries, besides other things. It is with the aid of theory/models and statics here that economists also monitor analyze and predicts such issues.
The broad arena of economics is demanding in its own way requires only those individuals who have good quantities and analytical skills, critical thinking and problem solving ability, good power of expression, research skills, team spirit and eye for detail. This apart, the candidate must be an avid reader of the subject, an excellent communicator, numerically deft, patient, disciplined, computer savvy and above all know how to skillfully use statistics, mathematical analyses and economics theory.
Qualifications and training
A good way to prepare for the sphere while in school is by polishing up one’s mathematics, statistics and computer skills. Practicing to make presentations and conducting mock surveys early, proven beneficial in the long run. The next major step is to pursue an undergraduate economics course with political science, law and mathematics or statistics as side subjects in college alongside an internship at an Economics consulting or research firm. While Economics graduates also find entry level openings in governmental departments, business houses, consulting agencies and research firms as Assistants, they certainly find better openings here after completing their masters or Doctoral degrees. Special courses in the subject offers by some universities in ‘econometrics’ or ‘mathematical economics’.
Job profile and career prospects
Whether specializing in the field of macro-economics (study of the economics as a whole) or Micro economics/people), Economies/people), Economists work extensively with huge amount of computerized data. Their work ranges from gathering such data, analyzing economics dimensions f social existence based on it, using it to make reports, charts or graphs analyzing economics trends and preparing forecasts with its help, using it to study government policy predicting it’s economic implications, communicating findings and advising governments or business on copying with economics problems. In both the government and the private sector job openings for economists exists in varied spheres ranging from banking retail, investment, insurance, manufacturing, mining, transportation, research academics, , management and communication to consulting. While with experience and expertise, many grow to become economics analysis and policy advisors, there are others who with time independent economics consultants, who teach, research and even write books and articles simultaneously.
Pros and cons
Economics being a highly specialized and unsaturated field, finds its experts much in demand today! Job opportunities in the country and abroad are said to be growing by the day especially in arenas of consulting and research. More over the field offers experts the scope to write path breaking books and express opinions on economic issues in the media to become well known yet independent authorities on the subject. However, it is also a highly competitive, pressurizing field, requiring a high degree of concentration, long hours at work, some amount of travelling and can even be mentally taxing at times.