When it comes to Economics, there is quite a lot that you can do with your economic degree. A lot of graduates with an economics degree are gainfully employed in almost all sectors of the economy. There is no limit to your career with your economics degree.
With your economics degree, you can use it to study industry trends, labour markets, the prospect for individual companies, and the forces that drive the economy. It can also be used in public policy and finance.
Economics majors learn to gather, organize, and interpret data, using mathematical formulas and statistics to make calculations. They also create models to predict the impact of investments, policy decisions, industry trends, demographics, climate change, and much more.
Although economics majors must be able to analyze problems and propose solutions, success in the field also requires solid communication skills. Individuals working in economics must be able to translate their complex findings into a format that business leaders, legislators, and everyday people can understand.
While graduates with a degree in economics are masters of the chart and graph as tools for summarizing trends and results, the ability to write clear descriptions and present complicated information to others are also vital skills for the economics major.
What is Economics?
Economics is the practical and theoretical science of the production and distribution of wealth. It is based around the system of the production, buying and selling of goods and services.
As a social science, it is primarily concerned with the behaviour and relationships of people and societies and economics is applied to the real world to study and analyse the activities and interaction between people, markets and governments.
Although there are various subdivisions of economics, the two main areas of study are microeconomics and macroeconomics.
Microeconomics is the study of the dynamics between individuals and industries, a more concentrated study of the broader discipline of macroeconomics, which is the study of the economic activity of an entire market or country.