How the Economics Major Prepares You for the Job Market
Economics is the study of money and trade. Economics students analyze market trends, business tactics, the national and global economy, and other factors that affect the realm of financial management and stability. Although economics is mostly seen in a business role, economics majors have also been able to successfully fulfill positions in law, medicine, international relations, non-profits, and the government, according to the American Economic Association. Economics majors take courses in micro and macro economics, policy writing, calculus, and other topics related to determining the relationship between local and global economies. The economics major also prepares students for logical analysis, problem-solving, and other valuable skills that will make them quality members of the work force.
Best Career Paths for Economics Majors
Economics majors have an array of number-crunching employment opportunities available to them. The best career paths for economics majors are:
- Economist. Economists work primarily in research. They conduct studies on resource management and economic trends, and use the information they gather to determine future energy costs, inflation rates, interest rates, and exchange rates, among other things. Economists can work with the government, specific industries, or the media, depending on their particular areas of expertise. Many economists specialize in one area of economics, such as microeconomics, which focuses on the supply and demand of individuals and specific firms, macroeconomics, which focuses on economic growth, inflation, and unemployment, and international economics, which focuses on the global market. Economists make an average salary of $83,590 annually, according to the Bureau of Labor Statistics.
- Lawyer. Lawyers work to represent their clients in the courtroom. Clients can be individuals, businesses, or organizations. Many economics students go on to pursue law school, particularly in business or corporate law. Corporate lawyers work with businesses in cases where the business is suing or is being sued by another party, and also to resolve disputes between companies. Lawyers must research cases, interview their clients, and build a solid case before going before the judge to present the case. Many corporate lawyers also counsel businesses on business laws, regulations, and other legal issues related to running a business. Lawyers earn an average salary of $110,590 annually, according to the Bureau.
How to Market Your Economics Degree
Earning an economics degree is an important step towards starting your career. However, you will also need to know how to market your degree to potential employers in order to prove to them that your education makes you an excellent candidate for the position. To do this, be specific about the skills you learned during your college career. For example, mention that your economics degree helped you understand the relationship between the local and world economy, business tactics, and market trends. Also speak up about the analytical and quick calculation skills you learned from your intensive economics coursework. Reassuring employers and clients that your educational background helped you develop real-world skills is the most effective way of marketing your economics degree.


