Economics is an enormously broad subject, with many different applications both in the world of business, and in those of politics, science, mathematics, conservation, law and sociology. There is almost no aspect of our modern lives that is not touched by the influence of an economist’s ideas. In practical terms, an understanding of economics can help to give companies an edge over competitors, or to predict problems or challenges that might arise in the future.

A Bachelor of Commerce degree specializing in Economics will usually be quite broad, and will require you to specialize at least once in order to work in any specific field.  However, it can form a basis for many higher degrees, which can help you go further in your career.

What Will I Study

Aside from the fundamentals of business and micro and macro economics, you will likely need to specialize and do some kind of post-graduate studies.  These can either be done on your own, or through a graduate training scheme with an employer.  Some of these specializations include:

• Master of Business Administration (MBA)
• Actuarial Science
• Chartered Financial Analyst (CFA)
• Political Economics
• Law

These are only a few of the options that are open to you with a degree in Economics.

What Career Options Will I Have?

Your career path will largely be chosen by you during the last years of your university studies, as you discover the aspects of business and economics that attract you the most.  Start looking for graduate training opportunities as early as possible, to get an idea of the kinds of careers economists go into after leaving school.

Economics and Management graduates typically go on to take up leadership or skilled technical positions within financial companies, investment banks or large multi-nationals. There are also careers to be had in academia, if you show a particularly penchant for economic theory.

How Long Will It Take?

A degree in Economics will usually take four years, but specialization and completing your studies can take many years more, depending on which route you take.  You could do an accelerated MBA within two years, or you could go on to complete your PhD in game strategy nine years down the line – it’s entirely up to you, and how long your funding lasts.

How Much Can I Earn?

Salary depends entirely on your chosen vocation.  To give you an idea, here are the top 10 career choices for Economics graduates, and their average salaries according to PayScale, Inc.

Methodology Jobs ranked by popularity among graduates. Annual pay for Bachelors graduates without higher degrees from all colleges. See full methodology for more.

Recommended Reading:

Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics – A beginner’s guide to macro and micro economics

Author: Henry Hazlitt

Great Jobs for Economics Majors – A modern, updated listing of potential careers for economics majors.

Author: Blythe Camenson

Arts & Humanities | Business | Technology | Criminal Justice | Health Care | Education | Vocational Training | Resources | Site Map