For someone pursuing a degree in any field, it is prudent to investigate the possible outcomes for your career once you qualify and this is never truer than with an economics degree where hard work and dedication are required in order to succeed.

The good news if you are considering economics as your major is that the skills and knowledge that you will gain as part of your qualification are widely transferable throughout the global labor market, and your problem solving and analytical skills can be used across a wide range of diverse industries.

Happily, applied economics job prospects can take a graduate down a number of career paths including:

• Economist
• Financial risk analyst
• Data analyst
• Financial planner
• Accountant
• Economic researcher
• Financial consultant
• Investment analyst
• Actuary
• Public sector roles

To take a closer look at a few of these fields and take the mystery out of what an economist actually does, we are going to drill down a bit further.

What Does It Entail to Be A Professional Economist?

Professional economists are responsible for investigating and researching economic data, and issues and trends which you can then analyze to predict and make sound economic recommendations. You will also be required to present your forecasts to advise on policy and business strategy for whichever body you represent.

In this career, you can expect to work for banks (both private and public), local and national government, insurance companies, think-tanks, and large multinational companies.

Banking economists are in high demand and can demand good salaries, so this is a popular path for graduates. In a banking job, economists can expect to be involved in financial control, financial planning, risk analysis, data analysis and consultancy. You will be responsible for ensuring the continued profitability of clients and businesses by advising clients and providing them with a range of services.

Accountancy roles are largely available to graduates who have studied economics. This role can take you across a multitude of industries typically focusing on recording, classifying, analyzing and interpreting financial data in order to monitor the financial situation of an organization. Your strong analytical skills will come in handy here.

Business and financial consultancy roles are available to economists who have up to date industry knowledge paired with an awareness of corporate finance and strong mathematical and problem-solving skills. In these roles you can work for multiple organizations producing reports and advising on business strategy.

Public sector careers ultimately give economists the opportunity to work in a field where their analysis and recommendations are used to improve social welfare. Economists in this sector will be required to examine the impact of government revenue, taxes, transport networks, and education delivery of public services and poverty.

Data analyst and actuary roles require skill sets that use mathematical and statistical techniques to collect and analyze data and present conclusions and recommendations. Actuaries largely work for insurance companies and look at data that pertains to insurance policies and risk analysis.

Your choices are not limited to the above careers as a qualification in economics can be applied to roles that include auditing, stockbroking, financial consulting and sales to name but a few.

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