A Bachelor’s Degree In Economics – Here Are The Top 7 Career Options To Choose From
What do Urjit Patel, the former Governor of the Reserve Bank of India, Elon Musk, the CEO of Tesla Inc. and Warren Buffett, the world’s third richest man have in common?
You guessed it correctly!
They are extremely successful in their domains and are well-known among the world’s brightest brains.
Are you aware, however, that all three of them are Economics graduates?
In today’s commercial world, a degree in economics from the Best BA Economic Honours College in Haryana is tremendously rewarding. The subject’s interdisciplinary nature, combined with its rigour, enables a wide range of opportunities for an Economics graduate, from public policy and development to data science and marketing.
So, let’s take a closer look at a few of these professions. This guide is for you if you’re one of the thousands of students interested in pursuing a career as an Economics Honours graduate but aren’t sure where to start.
Policymaking
Many students choose to study Economics at the undergraduate and postgraduate levels in order to become successful researchers and policymakers since the capacity to grasp the economy as a whole is a basic talent of an Economics graduate. In the future, one might want to be the state’s or country’s finance minister, or a central banker, or in other technical policy-making roles. Aside from being elected by the people, there are other paths to active policymaking, such as academia combined with active policy dialogues, or being a technocrat (or technical bureaucrat).
Think Tanks Or Organisations In The Development Sector
This is a sector that is intimately linked to policymaking, although often in the guise of its doppelganger. In fields such as poverty, rural/urban development, education, healthcare, agriculture, international trade, and economic policy, both development sector organisations and think tanks frequently conduct research on incumbent and other policy options in order to present credible policy alternatives to civil society and governments.
Again, this is a research-driven field, and knowledge of statistical and econometric techniques, which Economics grads are more likely to possess, gives them an advantage.
Working As An Economist At A Corporation
Many businesses hire economists to undertake research on the macroeconomic environment in which they operate and to assist them in better navigating business cycles and policy changes.
Conducting detailed research utilising statistical and econometric techniques, as well as making recommendations based on your results, will be part of your job. If you choose this path, you could work for a bank, a huge e-commerce company, or even a technology giant like Google.
Linked Areas
Not every Economics graduate pursues a profession in the subject of fundamental economics. Many go into allied fields like management and finance, where they excel because of the solid analytical foundation provided by an economics education.
Management Consulting
Analytical problem-solving is at the heart of management consulting. When faced with challenges that they are unable to address with the internal resources at their disposal, organisations from all industries and sectors, including the government, turn to consultants for an external, professional, and thoroughly researched perspective.
As a result, a consultant is regularly involved in resolving issues in a variety of industries by performing in-depth evaluations of clients’ businesses and the market environment in which they operate.
Finance
Many Economics students go on to specialise in Finance because the basic abilities required for finance are taught in undergraduate Economics programmes. Investment banking, corporate banking, private banking, and investment / wealth / asset management are all options in the financial services business.
Alternatively, one could pursue a career in corporate finance, focusing on revenue streams, investment projects, and overall financial management, with the goal of one day becoming the Chief Financial Officer.
Actuarial Science
Actuarial science is becoming increasingly popular among Economics grads. Actuaries are professionals that specialise in analysing risk and uncertainty, as well as pricing and provisioning for it. They are commonly employed in the insurance sector, as well as pension funds, investment firms, and actuarial consulting organisations, and have excellent domain knowledge of mathematics, statistics, and finance, in addition to economics.
At PIET NCR College, one of the Best BA Economic Honours Colleges in Panipat, students are taught the curriculum that is internationally acclaimed. As a result, graduates of the BSc (Hons) Economics programme have unrivalled numeric acumen, strong analytical ability, and great communication skills, making them ideal candidates for any of the aforementioned jobs.
Click here to apply for this programme.