The field of economics covers a wide range of topics. Economics is the social science that involves research into the production and use of goods and services, including raw materials, land, natural resources, labor, and finished goods. Economists that graduate from the best business colleges can put their skills to use in positions in various fields, including banking, investing, consulting, manufacturing, as well as in the government or other businesses and organizations. Here are some of the many career paths a degree in economics from a good business school can lead to:
Microeconomist – These economics professionals study the supply and demand of raw materials and of services for companies and focus on keeping prices low for customers and costs low for the company in order to maximize profits.
Macroeconomist – Macroeconomists study unemployment, inflation, investment practices, and other economic trends and compare past research to current happenings in order to predict what will happen next.
Organizational Economist – These economists work with the government or private companies to determine how they can best compete with others and respond to trends in the market. They attempt to measure strengths and weaknesses of an organization.
Financial Economist – Financial economists help mortgage and credit card companies by determining how changing interest rates with affect their businesses. They also work with other companies to help them get the highest return on their investments.
International Economist – These economists study exchange rates among countries and international taxes and trade treaties. They help large companies and governments to determine their international policies.
Labor Economist – These economists study the supply and demand for labor, as well as the causes of unemployment. They help companies determine how wages in different areas can affect their profits.
Pubic Finance Economist – Public finance economists study the effects of welfare programs, grants, and other economic programs offered by the government. They also help to explain changes in tax rates and other programs to citizens.
Econometrician – These economists use their math skills and other business school information more than others in the field and create complex economic models to use in the analysis of various business decisions, including whether or not it will pay off for a company to expand into new markets.
Business Journalist – Because of the increase in the number of people running small businesses and individuals who invest their money, some economists spend their days writing for major publications or appearing on national television to educate these citizens. Some even rely on creating websites or blogs to provide advice.
Legislative Assistant – Lawmakers at both the state and national level use economists and their forecasts to help determine what policies they should put in place, including any about taxes, trade, or unemployment benefits.