When contemplating an Economics career, what images come to mind? Do you envision long hours leaning over computer keyboards performing complicated statistical analyses? Perhaps you picture dull accountability meetings that feature long-winded explanations and visual presentations to bored board members. If so, you are not alone.
Contrary to popular belief, Economics is not nearly as dull and dry as many deem it to be. Take a momentary pause. Put down the calculators and pull away from the keyboards. We are about to embark upon an expose into the economies of obtaining an online Economics degree. Class has now commenced.
An exercise in versatility
Economics is the driving force that underlies everything. On financial fronts ranging from the global marketplace to household budgets, economy is essential. Much like geologists, the heart of economists’ job is preservation. Instead of the natural environment, economists are concerned with scarce monetary resources.
A broad array of opportunities are available to Economics majors. Commercial entities are very common employers. Economy professionals are also found in medicine, law, non-profit organizations, and government.
Levels of learning
A bachelor’s degree is the minimum requirement for entry-level economist positions. Most Economics majors find private-sector employment. Non-profit concerns and government also yield abundant opportunities. In the Federal government especially, many newly-minted Economics majors find professional havens in facility-based statistical and data analysis operations.
Academia is also an attractive professional destination for economists. Professorships at major universities are wide open for those with doctoral Economics degrees. This career path is also attractive to incurable research and writing fetishists who provide running commentary about economic trends and concomitant public policy.
An online economics degree at the master’s level is an ideal fit for those seeking a pragmatic professional position in Academia. It closely matches the hiring protocols at most high schools or junior colleges.
Envision your options
Many students cannot visualize many – or any – practical economist careers that interest them. This is unfortunate, as Economics majors possess practical skills that are extremely marketable. Think about it, class. The basic concepts underlying every economist job are money and math. When combined, they add up to a knowledge base of universal high value. Here are some examples:
Economic Forecaster
Every business’ top priority is maximizing the bottom line. A flawless crystal ball would yield guaranteed unlimited profits. Unfortunately, such devices have not been invented. Forecasters are the next best thing available. Their complex analyses are extremely helpful to commercial concerns. Current economic climate and market conditions are gauged for maximum marketing efficiency.
Finance, Banking, and Accounting
Economists’ extensive numbers knowledge is always needed in other areas, as well. Half of maximizing bottom lines is minimizing expenses. Economists advise organizations on achieving maximum budgetary efficiency. Operational costs from employee restroom toilet paper to multi-billion-dollar capital acquisitions are scrupulously scrutinized and monitored by economists.
Public Policy, Government
Economists accurately comprehend and evaluate demographic, socioeconomic, and financial patterns. These trends can be monitored, compiled, and evaluated. Realistic projections about the likely effects of proposed budgetary allocations, tax regulations, and other legislation are performed with great accuracy. Economists frequently conduct feasibility studies for accurate assessment of proposed projects or policy changes.
Other Options
Economists explore statistical arenas aside from purely monetary and financial matters. Research positions in scientific oriented organizations is a popular career path. The logical deductions and inferences that may be drawn from economists’ conclusions are very valuable to such organizations.
Economic rewards of Economists
Here is a thinking exercise, class: If someone caused an extra $1 million to flow into your bank account during a given year, how much would they be worth to you? Even payment of a half-million dollars would be profitable, don’t you agree? Businesses think the same way.
A 2008 Wall Street Journal study showed that average starting pay for Economics majors was $43,419 per year. This pegged economists as the fourth highest-paid occupation. Economists even exceeded average starting salaries of new-minted MBAs.
The moral of this story is pretty clear, students. If you have the right knack for numbers, an economist career is an excellent choice. All available data clearly reveals this. Implement your own economic policy today by enrolling in the online economics degree program of your choice. Your future bottom line will make it well worthwhile. Class is now dismissed.