Economics
provides specialist advice based on the application of economic theory and knowledge. Through studying data and statistics along with considerable research, economists are able to forecast future trends and make recommendations.
* Industry economist - generally employed by large transnational corporations, an industry economist undertakes research that leads to the collection, analysis, interpretation and reporting of statistical data.
* Agricultural economist - offers advice on trends directly related to agriculture and rural considerations. Agricultural economists also advise farmers on improving their businesses.
Jobs where your degree would be useful
Roubini Global EconomicsGet The Latest Economic Insights From Nouriel Roubini & RGE Analystswww.roubini.com
Financial EngineeringUniversity of Hawaii's Intensive 1-year Master Programmfe.shidler.hawaii.edu
provides specialist advice based on the application of economic theory and knowledge. Through studying data and statistics along with considerable research, economists are able to forecast future trends and make recommendations.
* Industry economist - generally employed by large transnational corporations, an industry economist undertakes research that leads to the collection, analysis, interpretation and reporting of statistical data.
* Agricultural economist - offers advice on trends directly related to agriculture and rural considerations. Agricultural economists also advise farmers on improving their businesses.
Jobs where your degree would be useful
Financial risk analyst - identifies and analyses potential risks threatening the economic wellbeing of organisations. Financial risk analysts are responsible for predicting change, forecasting costs and predicting future trends. This role would allow economics graduates to use theories and models of economics as well as their advanced skills in statistical analysis.
* Credit analyst - undertakes risk assessment analysis surrounding monetary lending proposals. This role would utilise the strong decision making, analytical and numeracy skills that economic graduates possess.
* Chartered accountant, Chartered certified accountant and Chartered public finance accountant - employed within private practice, industry, commerce and the public sector, accountants in these roles deal with financial reporting and providing a wide range of accounting services. They utilise the statistical analysis and numeracy skills, as well as the decision making and reporting data skills, of economics graduates.
* Actuarial consultant - uses statistical and mathematical knowledge to make long-term financial forecasts. This information is used by both financial and governmental bodies to inform policy, solve current financial difficulties and aid future planning. Utilising the underpinning economic knowledge and excellent numeracy skills, this role would be suitable for an economics graduate.
* Statistician - working in a wide range of sectors, statisticians are concerned with managing and designing collections of statistical data, analysis and interpretation of results and the subsequent presentation of findings. This role is suited to economics graduates because of its high focus on analysis and numeracy.
* Civil service fast streamer - an accelerated development programme preparing exceptional graduates for high-level positions within the civil service. Graduates can specialise depending on their interest, although the economist and statistician routes may be of particular interest to economics graduates.
* Credit analyst - undertakes risk assessment analysis surrounding monetary lending proposals. This role would utilise the strong decision making, analytical and numeracy skills that economic graduates possess.
* Chartered accountant, Chartered certified accountant and Chartered public finance accountant - employed within private practice, industry, commerce and the public sector, accountants in these roles deal with financial reporting and providing a wide range of accounting services. They utilise the statistical analysis and numeracy skills, as well as the decision making and reporting data skills, of economics graduates.
* Actuarial consultant - uses statistical and mathematical knowledge to make long-term financial forecasts. This information is used by both financial and governmental bodies to inform policy, solve current financial difficulties and aid future planning. Utilising the underpinning economic knowledge and excellent numeracy skills, this role would be suitable for an economics graduate.
* Statistician - working in a wide range of sectors, statisticians are concerned with managing and designing collections of statistical data, analysis and interpretation of results and the subsequent presentation of findings. This role is suited to economics graduates because of its high focus on analysis and numeracy.
* Civil service fast streamer - an accelerated development programme preparing exceptional graduates for high-level positions within the civil service. Graduates can specialise depending on their interest, although the economist and statistician routes may be of particular interest to economics graduates.
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Financial EngineeringUniversity of Hawaii's Intensive 1-year Master Programmfe.shidler.hawaii.edu
Simply, and perhaps surprisingly put, economics is the study of scarcity. Resources are limited, and every society wants to figure out how to allocate its resources for maximum benefit. The field of economics serves in large part to help answer this resource allocation question. Economists study questions such as:
Understanding what economists do and don’t study is important, since sometimes economists are called on to answer questions that they are not technically qualified to analyze, and this can have unsatisfactory results.
- How prices and quantities of items are determined
- How much value markets create for society
- How taxes and regulation affect economic value
- Why some goods and services are under-supplied in a market economy
- How firms compete and maximize profit
- How households decide what to consume, how much to save, and how much to work
- Why some economies grow faster than others
- What effect monetary and fiscal policy has on economic well-being
- How interest rates are determined
Understanding what economists do and don’t study is important, since sometimes economists are called on to answer questions that they are not technically qualified to analyze, and this can have unsatisfactory results.
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