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What Can You Do With A Degree In Economics?

With specialized knowledge in economic theories, principles, laws and concepts, economics majors are sought after for their technical knowledge base.

Below is a breakdown of nine interesting careers in economics, employers and industries that hire economic professionals and resources for further career information. Some careers may require addition skills or further education.  For more information on qualifications, jobs and career specifics consult the Bureau of Labor Statistics Occupational Outlook Handbook 

9 INTERESTING CAREERS IN ECONOMICS:

 

BUSINESS ANALYST

MEDIAN PAY: $81,330/YR
JOB OUTLOOK: Growing at 14% (much faster than average)
JOB DESCRIPTION: Management or business analysts, often called management consultants, propose ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues. (1)

FINANCIAL MANAGER

MEDIAN PAY: $121,750/YR
JOB OUTLOOK: Growing at 7% (as fast as average)
JOB DESCRIPTION: Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. (2)
 

MARKET RESEARCH SPECIALIST

MEDIAN PAY: $62,560/YR
JOB OUTLOOK: Growing at 19% (much faster than average)
JOB DESCRIPTION: Market research analysts study market conditions to examine potential sales of a product or service. They help companies understand what products people want, who will buy them, and at what price. (3)
 

 

BUDGET ANALYST

MEDIAN PAY: $73,840/YR
JOB OUTLOOK: Growing at 3% (slower than average)
JOB DESCRIPTION: Budget analysts help public and private institutions organize their finances. They prepare budget reports and monitor institutional spending. (4)
 
 
 

ENVIRONMENTAL ECONOMIST

MEDIAN PAY: $101,050/YR
JOB OUTLOOK: Growing at 6% (as fast as average)
JOB DESCRIPTION: Environmental economists research the the economics of natural resources based on both their extraction and their use, as well as the waste products returned to the environment. They research how some incentives hurt or help the environment, and how they can be used to create sustainable policies and environmental solutions. (5)

SECURITIES & COMMODITIES TRADER

MEDIAN PAY: $37,310/YR
JOB OUTLOOK: Growing at 10% (faster than average)
JOB DESCRIPTION: Securities, commodities, and financial services sales agents connect buyers and sellers in financial markets. They sell securities to individuals, advise companies in search of investors, and conduct trades. (6)
 
 

 

OPERATIONS RESEARCH ANALYST

 
MEDIAN PAY: $79,200/YR
JOB OUTLOOK: Growing at 30% (much faster than average)
JOB DESCRIPTION: Operations research analysts use advanced mathematical and analytical methods to help organizations investigate complex issues, identify and solve problems, and make better decisions. (7)
 

ECONOMIST

 
MEDIAN PAY: $101,050/YR
JOB OUTLOOK: Growing at 6% (as fast as average)
JOB DESCRIPTION: Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues. (8)
 

DIRECTOR OF FINANCE

 
MEDIAN PAY: $121,750/YR
JOB OUTLOOK: Growing at 7% (as fast as average)
JOB DESCRIPTION: Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. (9)
 

INDUSTRIES THAT HIRE ECONOMICS MAJORS:

INDUSTRIES & JOBS


Government

  • Cost analysis
  • Intelligence
  • Foreign trade
  • Public administration
  • Transportation mgmt.
  • Urban planning

POTENTIAL EMPLOYERS


  • USDA
  • Department of Commerce
  • Bureau of Labor & Statistics
  • United Nations
  • General Accounting
  • US Dept of Health

HOW TO GET THERE?


  • Get involved in leadership (clubs, student government, etc.)
  • Master skills in quantitative analytics and related economics programs 
  • Connect with members of the advisory council
  • Serve an internship (even if you have a job)

 


Market Research:

  • Research Analyst
  • Consultant

  • Market research firms
  • Consulting firms
  • Public and private businesses
  • Consumer goods and manufacturing

  • Get involved in leadership (clubs, student government, etc.)
  • Master skills in quantitative analytics and related economics programs 
  • Connect with members of the advisory council
  • Serve an internship (even if you have a job)
  • Supplement with political science courses, research and survey design courses
  • Earn a graduate degree

 


Insurance:

  • Claims
  • Operations
  • Sales
  • Underwriting

  • Insurance companies

  • Take business communication courses
  • Gain sales experience
  • Get involved in leadership (clubs, student government, etc.)
  • Connect with members of the advisory council
  • Serve an internship (even if you have a job)

 


Teaching:

 


  • Secondary and private schools
  • Colleges and universities
  • Administration

  • Take business communication courses
  • Get involved in leadership (clubs, student government, etc.)
  • Connect with members of the advisory council
  • Serve an internship (even if you have a job)
  • Earn a Ph.D
  • Take research opportunities
  • Get secondary certification for teaching

 


Healthcare:

  • Healthcare analysts
  • Hospital management

  • Private corporations
  • Hospitals
  • HMOs
  • US Dept. of Health

  • Take business communication courses
  • Get involved in leadership (clubs, student government, etc.)
  • Connect with members of the advisory council
  • Serve an internship (even if you have a job)
  • Earn a master's degree in public health administration

 


Banking & Finance

  • Lending
  • Operations
  • Securities (sales & research)

  • Banks
  • Credit unions
  • Brokerage firms

  • Supplement marketing and communication courses
  • Get involved in leadership (clubs, student government, etc.) in a finance or treasurer role
  • Connect with members of the advisory council
  • Serve an internship (even if you have a job)
  • Earn an MBA

 

 

HELPFUL RESOURCES FOR ECONOMICS MAJORS:
 

  • O-NET ONLINE (BUSINESS ECONOMICS)
  • Bureau of Labor Statistics: Occupational Handbook 
    • (1) https://www.bls.gov/ooh/business-and-financial/management-analysts.htm
    • (2) https://www.bls.gov/ooh/management/financial-managers.htm
    • (3) www.bls.gov/ooh/business-and-financial/market-research-analysts.htm
    • (4) www.bls.gov/ooh/business-and-financial/budget-analysts.htm
    • (5) www.onetonline.org/link/summary/19-3011.01
    • (6) www.bls.gov/ooh/sales/securities-commodities-and-financial-services-sales-agents.htm
    • (7) www.bls.gov/ooh/math/operations-research-analysts.htm
    • (8) www.bls.gov/ooh/life-physical-and-social-science/economists.htm
    • (9) www.bls.gov/ooh/management/financial-managers.htm
  • Careers in business
  • National Association for Business Economics
  • National Business and Economics Society