Economics
Economics
What is Economics?
What is Economics?
Studying economics teaches you about social policy and financial markets, useful for careers in finance, accountancy and government administration,
Many people hear the word “economics” and think it is all about money. Economics is not just about money. It is about weighing different choices or alternatives. Some of those important choices involve money, but most do not. Most of your daily, monthly, or life choices have nothing to do with money, yet they are still the subject of economics.
Areas of Economics can include:
Areas of Economics can include:
- Professional Economist careers
As a professional economist, you’ll be involved in researching and analyzing economic data, issues and trends. For the majority of economist careers, you’ll need to study economics at postgraduate level to gain the specialist skills required.
- Economics careers in banking
Banking careers are very popular with economics graduates, offering scope for high earnings and have a high demand for economists. Graduates with a background in economics are particularly valued for roles in financial control, financial planning, risk analysis, data analysis and consultancy.
- Actuarial and data analysis careers in economics
An actuary is a business professional whose role is to evaluate and advise on the impacts of financial risk and uncertainty. Using knowledge of both business and economics, actuaries provide reports and devise strategies on how to lessen these risks.
- Economics careers in the public sector
Those who study economics will be valued in all areas of public and private spending, including roles within pricing and risk analysis, financial consultancy and economic planning. Economist careers in the public sector are often involved in public taxation, transport, commercial and waste services, energy and other forms of government spending.
- Economics careers in business and financial consultancy
Economists and economics experts are at the heart of the business world and financial consulting. Economics graduates may find positions in large and medium-sized organizations where economic research is required.
- Economics careers in accountancy
To become a qualified accountant you’ll need further professional qualifications, but many accountancy roles are available to those who studied economics. In accounting roles you can work across multiple industries, focusing on monitoring the financial situation of an organization, business or individual.
Related Job Profiles
Related Job Profiles
For ideas on potential jobs click here: https://www.prospects.ac.uk/careers-advice/what-can-i-do-with-my-degree/economics
University help
University help
What can I do with my economics degree?
What can I do with my economics degree?
https://www.prospects.ac.uk/careers-advice/what-can-i-do-with-my-degree/economics
Personal statement help
Personal statement help
https://whystudyeconomics.ac.uk/your-ambitions/economics-personal-statement/
https://www.studential.com/personal-statement-examples/economics-personal-statement-examples
https://www.ucas.com/undergraduate/applying-university/personal-statement-advice-economics
BEST UNIVERSITIES FOR ECONOMICS
BEST UNIVERSITIES FOR ECONOMICS
Apprenticeships / employment
Apprenticeships / employment
Apprenticeship
Apprenticeship
The following degree Apprenticeships may be relevant to this role:
Level 6 Professional economist
Level 7 Senior professional economist
For entry to the Level 7 (post graduate degree) apprenticeship, you would usually already have an undergraduate degree in economics or have completed the Level 6 Professional economist apprenticeship.
You'll usually need 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A-Levels, or equivalent, for a Level 6 (degree) apprenticeship.
You could apply for a place on the Government Economic Service Fast Stream programme, starting out as an assistant economist. You'll need a degree in economics or a combined degree, with at least 50% economics. A postgraduate award in economics may be acceptable.
Employment
Employment
You could start as an economic research officer or analyst in the private sector and work your way up.
For more information :
https://www.getmyfirstjob.co.uk/?TabID=1358&id=540&occupation=economist
Employers
Employers
Economists are employed in a variety of settings in both the public and private sectors.
The largest employer of economists is the Civil Service through the GES. The Bank of England also provides vacancies through its graduate development programme.
Economics graduates also find employment in areas such as:
banks (high street and city)
charitable and not-for-profit organisations
consultancies
insurance and accountancy firms
government departments and think tanks.
Taken from prospects
work placement &volunteering
work placement &volunteering
Here are some ways to gain economics work experience:
Offers work experience positions for those who are interested in economics and are nearing the end of their secondary school education. Work experience involves learning about economic analysis and contributing to it across practice areas.
Offers an economics work experience program that provides practical insights and experience in the field. The program includes interactive simulations, case studies, and group exercises.
This scheme is for those in their penultimate year who have a predicted grade of a first class or a 2:1 honors degree.
May offer work experience. You can contact them directly to find out more.
Teaching opportunities
You can find teaching opportunities at universities, community colleges, or high schools that offer economics classes.
Networking
You can join your university's student economics society or organizations like the Royal Economic Society for networking opportunities.
Other places to look for economics work experience include:
Career Videos
Career Videos
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