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3 Reasons to Study Economics

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Are you unsure about your future career? Are you a logical, critical thinker? Do you love problem solving and data analysis? If so, you may be suited to a career in economics.

The economics industry is an interesting, growing industry that comes with lots of benefits. Here are three excellent reasons to study economics.

You Will Have Valuable, Transferrable Skills

One of the main benefits of an economics degree is that you will learn a wide range of transferable skills. Some of these skills include numeracy, commercial awareness, research skills, communication skills, technical skills and data analyst skills. These skills can be used in a variety of real life situations, which is very helpful; for instance, improved communication skills will make it easier for you to express yourself and bond with others, which can improve both your home life and your working life.

The more practical skills are also useful. For example, technical skills can be used in a wide range of industries, from IT to web design.

You Will Have Excellent Career Prospects

An economic degree is valued – and not just in the economics industry. This is because an economics degree will teach you lots of valuable, transferabl skills that can be used in a wide range of industries. Some of the roles you could apply for include data analyst, stockbroker, statistician, chartered accountant and economic consultant. Most of these roles are very well paid, with the average wage for an economic consultant averaging around $116,000 a year.

It is also possible to apply for roles that aren’t linked to your economic degree. These roles include credit analyst, policy officer, business development manager, data scientist and management consultant. So there are lots of career paths for you to consider if you decide that you don’t want to be an economist!

Economics is a Growing Industry

The current Job Outlook for Applied Economics is very good. This is because more and more businesses and organizations are embracing data analytics and predictive modeling, so there is more demand for economists than ever before. This large demand for economists also means that graduates don’t have to compete heavily for roles, so you don’t have to worry about struggling to find work when you graduate.

And this demand isn’t limited to the USA; hundreds of countries across the world are also starting to understand the importance of economics (such as the UK, Europe and China). So if you want to work in a different country, an economics degree could help.

Summary

An economics degree is an excellent option for critical thinkers who love data analysis. Studying economics is interesting and challenging, and you will learn a wide range of skills that are valuable in lots of different industries. You will also have the skills needed to enter the economic industry, which is one of the fastest growing industries in the world. So if you want to start a career that is rewarding, fun and well-paid, economics could be a good option for you.

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