There are many great career choices for economics majors at the moment. From an economics teacher to a financial advisor, an economics major’s traits can fit a number of different careers. A career in economics requires candidates to be analytical, organized, and experienced with mathematical data. Here are five solid careers that are great fits for economics majors.
Economic Consultant
The economic consultant is an obvious career choice for an economics major. These professionals tend to research current trends in economics to determine how they will influence corporate investments or expansions. Their main purpose is to consult with companies to determine their best interests, particularly when it has to do with business performance. If a firm is having a financial problem, then economic consultants tend to give the company advice while studying statistics to help the company overcome its slump. They also act as key witnesses during a legal case specifically revolving around financial findings and studies used in courts.
Financial Analyst
These professionals research financial information of many different types of firms like:
- banks
- companies
- stocks and bonds
- credit agencies
They also use computers and other software to prepare reports for investment decisions and present the information to clients. Analysts study a company’s records or filings for data and research. They also attend conference calls where they are in direct contact with managers and business leaders. This position’s outlook appears to be growing. It is projected to rise to 16 percent in the next 10 years as of 2012.
Economics Teacher
Another obvious career choice for an economics major is an economics teacher. These educators are often employed at a high school or college teaching economics to students. They teach a variety of subjects, ranging from economics basics to more advanced forms. They often cover:
- money
- investments
- taxes
- income, and more
This career tends to require a bachelor’s degree with a teaching certification. Educators also have to keep the teaching license updated and accurate every few years in order to continue teaching students.
Accounting
Accounting fits with many of the requirements an economics major should have developed during and after college. These professionals are usually in charge of:
- calculating payroll at companies
- ordering inventory
- counting the organization’s funds and assets
Math and organizational skills are crucial for this position. Also important is a bachelor’s degree in:
- economics
- accounting
- a related field
Accountants can also double as tax preparers. Great trust is often put into these individuals, as they are often directly in contact with a firm’s funds each day. Like for any career associated with economics, accounting requires organization and analytical skills.
Actuary
People with this career tend to analyze financial data to determine the impacts of financial risk or danger. They prepare data and reports with their economic, financial, and business expertise. Actuaries explain how to lessen financial risks. This career, like most of the others listed before, requires extensive skills in:
- math
- organization
- communication
A bachelor’s degree in finance, economics, or accounting would all be solid educational experience for this career. The projected 10-year growth for this career is rather high as well, placed at 26 percent as of 2012.
Related Resource: 10 Best Deals on Online Master’s in Economics Degrees
This is just a small list of careers that are possible with a degree in economics. Many other opportunities exist outside of these five. According to Bill Connerly, an economist with Forbes, “If you can explain complicated things clearly, both orally and in writing, then you are going places”. Even he understands how important communication is for an economics major.