Why do we choose to major in one subject and not the other? When it comes to economics, often we see a bunch of confused individuals who cannot figure out which aspect of economics to choose, or what their future opportunities may be. What they do not realise is that economics is a holistic subject, which covers both mathematical and social aspects of lives. At the end of the day, what career path to take is contingent on the interests and choices of the individual.
Economics provides a wide array of options for its students with a high demand for every profession they enter. While there are numerous choices open for an economics graduate, the following are the ones with the highest demand.
Economist
The most obvious option that lies ahead for an economics graduate is to become an economist. As an economist, he or she is expected to possess some basic skills like data studying, research based on market requirements and the ability to provide specialist advice using the available data and to study historical trends. The required field of research may involve aspects from a social policy that ranges from interest rates to taxation to employment levels to energy, health, transport and international development.
Stockbroker
It is necessary to have the ability to handle a fast-paced and challenging financial environment which will also have a high demand for excellent communication skills with a combination of analytical and negotiation skills. An economics graduate can get involved in the stock market through different job roles. One is the discretionary aspect, which requires managing investment decisions and clients' decisions on buying and selling of stocks. The other is the advisory role, which involves the stockbroker to advise on appropriate investments, without directly making the decisions. Lastly, there are positions of executives, which require the broker to be engaged in investment activities only upon explicit requests from the clients.
Investment analyst
An investment analyst provides research and information to help traders, fund managers and stockbrokers make decisions about investments. The information you provide ensures investment portfolios are well managed and that potential investment opportunities are highlighted.
Chartered accountant
As a chartered accountant, it is necessary to possess the ability to provide advice on accounts and and provide trustworthy information about financial records. This may involve financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery, and insolvency, or accounting systems and processes.
Data analyst
This particular career path can lead to involvement in multiple sectors. They are considered to become the backbone of an industry through finance, consulting, manufacturing, pharmaceuticals, government, and education. While the ambition to become a data analyst requires high skills regarding both economics, data-loving and programming, the returns to it are quite sufficient -- providing a broader range of job titles such as business intelligence, data assurance, data quality, finance, education, marketing, sales, etc.
Financial risk analyst
Risk assessment in any market is pivotal to all the future decisions made regarding both production and investment. They are required to identify and analyse the areas of potential risk threatening the assets, earning capacity or success of organisations in the industrial, commercial or public sector. They are responsible for predicting change and future trends, as well as forecasting cost to the organisation. Becoming a financial risk analyst also demands high specialisation in the field of credit, operations, and finance. Thus aiming high also means working harder.
Statistician
Statisticians are concerned with the collection, analysis, interpretation, and presentation of quantitative information. Just like the field of economics keeps the options broad, the range for a statistician can start from educational sector to urban and many more.
Actuarial analyst
Mathematics is crucial mainly for this profession. As an actuarial analyst, you will be required to develop multiple formulas based on the available statistics and provide an assessment of the current market scenario. Analysts can work in various areas of the financial services industry and may often be involved in a supporting role within an actuarial team.
While there are numerous options available to an economics graduate, these are the available few choices.
The writer is currently studying Economics at BRAC University, she can be reached at [email protected]
