Economics | Albright College

Economics

What is Economics? (from http://uncw.edu/career/economics.html)

“Economics is the art of trying to satisfy infinite needs with limited resources.” Albert Camus

“Economics is the study of how effectively society meets its human and material needs. It provides a logical, ordered way of looking at various problems. It draws upon history, philosophy, and mathematics to deal with subjects ranging from how an individual household or business can make sound decisions, to societal issues such as unemployment, inflation and environmental decay.”

What is this career like? (from http://www.bls.gov/ )

“Economists apply economic analysis to issues within a variety of fields, such as education, health, development, and the environment. Some economists study the cost of products, healthcare, or energy. Others examine employment levels, business cycles, or exchange rates. Still, others analyze the effect of taxes, inflation, or interest rates.

Economists often study historical trends and use them to make forecasts. They research and analyze data using a variety of software programs, including spreadsheets, statistical analysis, and database management programs.

Nearly half of all economists work in federal, state, and local government. Federal government economists collect and analyze data about the U.S. economy, including employment, prices, productivity, and wages among other types of data. They also project spending needs and inform policymakers on the economic impact of laws and regulations.

Many economists work for corporations and help them understand how the economy will affect their business. Specifically, economists may analyze issues such as consumer demand and sales to help a company maximize its profits.

Economists also work for research firms and think tanks, where they study and analyze a variety of economic issues. Their analyses and forecasts are frequently published in newspapers and journal articles.

Some economists work for companies with major international operations and for international organizations such as the World Bank, International Monetary Fund, and United Nations.”

Related Career Titles (from http://uncw.edu/career/economics.html)

Actuary Demographer Institutional Research Director
Auditor Economist Insurance Salesperson
Bank Officer Efficiency Expert Intelligence Agent
Bond Trader Entrepreneur International Trade Specialist
Business Forecaster Estate Planner Journalist
Business Manager Financial Economist Labor Economist
Chamber of Commerce Analyst Financial Officer Labor Relations Specialist
Commodities Trader Financial Planner/Analyst Lawyer
Commodity-Industry Analyst Financial Reporter Litigation Analyst
Compensation/Benefits Admin Government Administrator Management Consultant/Analyst
Consultant Healthcare Administrator Market Research Analyst
Consumer Affairs Director Hospitality Manager Politician
Consumer Goods Rep Industrial Economist Populations Studies Analyst
Cost Analyst Industrial Transportation Property Manager
Credit Analyst/Loan Officer Industrial/Institutional Buyer Public Administrator/Manager
Purser Securities Trader Underwriter
Real Estate Agent/Broker Statistician Urban/Regional Planner
Retail Sales Manager Teacher Wage and Salary Administrator
Securities Salesperson/Broker Technical Writer Treasury Management Specialist
Public Utilities Manager Transportation Specialist Information Scientist

How do you get ready? (from http://career.utk.edu/students/majors.asp )

  • Choose a career focus, and structure curricular and extra-curricular activities to achieve goals.
  • Obtain volunteer, part-time, summer or internship experience to enhance your career path. For example, complete a finance-related internship if you’re interested in a career in banking.
  • Develop an excellent background in research, statistics and computers.
  • Earn a graduate degree in economics, business or other related fields for increased marketability.
  • Do informational interviewing with professionals to learn more about fields of interest.

Related Major Skills (from http://uncw.edu/career/economics.html )

Reading comprehension Active listening
Mathematics & science Critical thinking
Different learning strategies Ability to give advice on business
Research skills Investigative skills
Oral & written communication Computer literacy
Active learning Ability to prepare & write reports

What about the future?

“Employment of economists is projected to grow 6 percent from 2014 to 2024, about as fast as the average for all occupations.”

For specific job information, go to http://www.bls.gov/

Available at Albright College Career Development’s Resource Library

  • Great Jobs for Economics Majors, by Blythe Camenson
  • Career Opportunities in Banking, Finance, and Insurance, by Thomas Fitch
  • Careers for Born Leaders and Other Decisive Types, by Blythe Camenson
  • Careers for Financial Mavens and Other Money Movers, by Marjorie Eberts and Margaret Gisler
  • Careers for Number Crunchers and Other Quantitative Types, by Rebecca Burnett
  • Opportunities in Bank Careers, by Adrian A. Paradis
  • Opportunities in Government Careers, by Neale Baxter
  • Opportunities in Social Science Careers, by Rosanne J. Mare

Disclaimer
Links to Internet sites are provided for your convenience and do not constitute an endorsement by Albright College Experiential Learning and Career Development Center.

Career Planning Links

Professional Associations Links

7/17