If you’re wondering whether economics is a good major, you can rest assured that it can very well be. In fact, a recent Forbes article named economics as #10 in their list of best master’s degrees. This subject can offer a great deal of value and a solid base for a variety of professions. Let’s take a look at what makes economics a valuable field of study.
Is Economics a Good Degree to Get?
A degree in economics can provide the foundation for a number of career options. The subject material you learn in such a program will give you a broad understanding of finance, markets, consumption and resource allocation. Such knowledge is useful for positions in management, business, nonprofits or government, among others. An economics degree can lead your career down any number of paths.
Many people aren’t aware of the kinds of jobs a person with a background in economics can go on to pursue. You may be surprised to learn the versatility this degree can offer. As mentioned previously, you may find yourself in a variety of work settings with your understanding of economics. This degree can prepare you for a broad range of positions. The most obvious position is, of course, economist. Economists are employed in business, academic, government and private industry settings. The level of degree you will need depends on the specifications of the position. However, most economists require at least a bachelor’s level education. Advanced positions will require a master’s, and teaching positions at the college level often call for a PhD.
Other careers this versatile degree can lead to include public policy analyst, research assistant, consultant, financial analyst and market analyst. An understanding of how markets work, supply and demand, the effects of fiscal policy on society and other such concepts make you a valuable commodity to numerous employers.
Economics is not an easy degree choice. It requires a great deal of critical thought and analysis. It becomes even more thought-provoking and challenging as you advance in your coursework. This is not meant to deter you. It’s actually a very good thing, as you will graduate with a sense of self-worth knowing that you rose to the challenge. Employers will see that you were able to successfully complete a very tough major, leading them to believe you are one who follows through on things and will bring that determination to their company. You’ll be able to give concrete examples of how you problem solve, particularly if you completed a thesis or internship as part of your program. Sharing your hands-on research and giving examples of challenges you’ve overcome in your course of study will go far in landing you a lucrative and worthwhile job offer.
These are merely a few examples of how the study of economics can benefit you in your life and in your future career path. The field is incredibly diverse, with possibilities that go beyond the scope of this article. An economics degree is a good value that will provide you with a strong foundation throughout your future.