top of page

The Career Landscape

A degree in economics is not just an academic goal, it is a gateway to a diverse and dynamic array of career options. Armed with a solid foundation in economic theories, quantitative analysis, and critical thinking, economics graduates find themselves well-equipped for roles that span various industries. In this article, we explore the exciting career landscape awaiting those who delve into the world of economics.

 

1. Finance and Banking

One of the most traditional paths for economics undergraduates is a career in finance and banking. From investment banking to financial analysis, the financial sector provides an array of roles that require a deep understanding of economic principles. Graduates often find themselves analyzing market trends, managing portfolios, and making informed financial decisions.

 

2. Government and Policy

Economics plays a crucial role in shaping government policies and regulations. Many graduates choose to work in public service, contributing their expertise to areas such as economic development, public finance, and policy analysis. Roles in government agencies or international organizations provide opportunities to influence economic policies and contribute to societal well-being.

 

3. Consulting

Consulting firms highly value the analytical and problem-solving skills of economics graduates. Whether it's management, economic, or strategy consulting, these roles often involve working with diverse clients to solve complex business challenges. Economics graduates contribute by providing insights, conducting market research, and developing data-driven solutions.

 

4. Data Analytics and Business Intelligence

In the era of big data, the analytical skills honed during an economics degree are in high demand. Many graduates pursue careers in data analytics and business intelligence, where they apply statistical methods and economic models to extract meaningful insights from large datasets. This skill set is valuable across industries, from technology to healthcare.

 

5. Entrepreneurship

Economics undergraduates possess a unique set of skills that can be instrumental in entrepreneurship. Understanding market dynamics, assessing risks, and making strategic decisions are crucial for starting and managing a business. Many successful entrepreneurs have backgrounds in economics, leveraging their knowledge to navigate the complexities of the business world.

 

6. Nonprofit and International Development

For those driven by a passion for social impact, a career in nonprofit organizations or international development is a rewarding option. Economics graduates can contribute to projects focused on poverty alleviation, sustainable development, and global economic stability. These roles often involve research, data analysis, and the implementation of programs that positively impact communities.

 

The field of economics is a gateway to a multitude of exciting and impactful career opportunities. As an economics undergraduate, the world is your oyster, offering paths that align with diverse interests and aspirations. Whether it's in the fast-paced world of finance, the strategic realm of consulting, or the socially conscious arena of nonprofit work, economics graduates are well-positioned to make meaningful contributions to the global landscape. As you navigate your career path, remember that the skills acquired during your undergraduate studies will not only open doors but also empower you to make a difference in the world.

 

Source: 

The Career Landscape
Classes & Skills

Classes and Skills 

Economists require a combination of foundational classes and skills to navigate the complexities of economic analysis, policy-making, and research. Here are some main classes and skills that are crucial for economists:

 

Core Classes

  1. Microeconomics:

    • Understanding individual economic agents, market structures, and the principles of supply and demand.

  2. Macroeconomics:

    • Examining the aggregate economy, including concepts like GDP, inflation, unemployment, and fiscal/monetary policies.

  3. Statistics:

    • Developing proficiency in statistical methods for analyzing and interpreting economic data.

  4. Econometrics:

    • Applying statistical techniques to test economic theories and model relationships 

 

Specialized/Field Classes

  1. International Economics:

    • Exploring global economic issues, international trade, and finance.

  2. Financial Economics:

    • Analyzing labor markets, employment trends, and human capital development.

  3. Public Finance/Public Policy:

    • Understanding government expenditures, taxation, and fiscal policies.

  4. Environmental Economics:

    • Addressing economic issues related to environmental sustainability and resource allocation.

  5. Development Economics/Economic Development:

    • Examining economic development, poverty, and inequality on a global scale.

 

Skills

  1. Analytical Skills:

    • The ability to analyze complex economic issues and interpret data critically.

  2. Quantitative Skills:

    • Proficiency in using mathematical and statistical tools for economic modeling and analysis.

  3. Research Skills:

    • Conducting thorough and effective research to contribute to economic knowledge.

  4. Communication Skills:

    • Clearly and concisely conveying economic findings and policy recommendations through both written and oral communication.

  5. Problem-Solving:

    • Applying economic theories and frameworks to solve real-world problems.

  6. Critical Thinking:

    • Evaluating economic theories and policies with a critical and discerning mindset.

  7. Policy Analysis:

    • Assessing the impact of economic policies on individuals, businesses, and society.

  8. Programming Skills:

    • Familiarity with programming languages (e.g., Python, R) for data analysis and modeling.

  9. Ethical Judgment:

    • Understanding the ethical implications of economic decisions and policies.

​

The combination of these classes and skills equips economists with a robust toolkit to contribute meaningfully to economic research, policy formulation, and analysis in a variety of professional settings. As the field of economics evolves, staying updated on emerging trends and technologies is also essential for continued success.

​

Finding an Internship

Finding an Economics Internship

By pursuing both academic and professional internships, you can gain valuable experience in economics while also building your skills, expanding your network, and exploring potential career paths.

 

Academic Internships

  • Check with our University career development: Start by contacting our career services office. They may have information about academic internships available for economics students, either within the university or through affiliated organizations.

  • Research Research Institutions: Many universities and research institutions offer summer research programs or internships for undergraduate students interested in economics. Look for programs that align with your interests and academic goals.

  • Explore Fellowship Opportunities: Some organizations offer fellowship programs specifically for undergraduate students interested in economics research. These programs often provide funding and mentorship to support your research projects.

  • Consider Independent Research: If you're unable to find a formal internship program, consider conducting independent research under the guidance of a faculty member. This could involve working on a research project, writing a thesis, or assisting with ongoing research in the economics department.

  • Apply for Grants and Scholarships: Look for grants and scholarships that support undergraduate research in economics. These can provide funding to support your research expenses and may also offer networking opportunities and professional development resources. 

 

      Source: American Economic Association (www.aeaweb.org)

 

Professional Internships

  • Identify Potential Employers: Research companies, government agencies, non-profit organizations, and consulting firms that hire interns with backgrounds in economics. Look for organizations that are known for their work in your areas of interest, whether it's finance, policy analysis, data analytics, or something else.

  • Network: Reach out to professionals working in your desired field of economics. Attend industry events, career fairs, and networking mixers to meet people who can provide insight into internship opportunities and potential employers.

  • Utilize Online Job Boards: Many companies post internship opportunities on online job boards like LinkedIn, Indeed, and Glassdoor. Create a profile on these platforms and set up job alerts to receive notifications about new internship postings. 

  • Check Company Websites: Some companies may not post their internship opportunities on external job boards. Instead, they may advertise internships directly on their websites. Make a list of companies you're interested in and regularly check their career pages for internship openings.

  • Apply Strategically: Tailor your resume and cover letter to each internship opportunity you apply for. Highlight relevant coursework, skills, and experiences that demonstrate your qualifications for the position. Be sure to follow the application instructions carefully and submit your materials before the deadline.

  • Prepare for Interviews: If you're selected for an interview, prepare by researching the company, practicing common interview questions, and being ready to discuss your interest in economics and how your skills align with the internship role.

  • Consider Remote Opportunities: With the increasing popularity of remote work, consider applying for internships that allow you to work remotely. This can broaden your options and provide flexibility in terms of location.

  • Internship Placement Services: Some universities or external organizations offer internship placement services for undergraduate students. These services can help match you with internship opportunities that align with your interests and career goals.

 

      Source: USAJOBS - Search

​

Graduate School

Navigating Graduate School for Economics Enthusiasts

For many economics undergraduates, the decision to pursue graduate studies represents a significant step towards deeper specialization, broader knowledge, and enhanced career opportunities. Graduate school provides a unique environment for individuals to delve into advanced economic theories, conduct cutting-edge research, and refine their analytical skills. In this article, we explore the considerations and potential benefits of pursuing graduate education in economics.

 

1.  One of the primary advantages of graduate school is the opportunity to specialize in a particular area of economics. Whether it's macroeconomics, econometrics, environmental economics, or behavioral economics, graduate programs offer in-depth coursework and research opportunities that allow students to become experts in their chosen field. This specialization can be a key differentiator in a competitive job market.​

 

2.  Graduate programs provide a platform for students to engage in original research, contributing to the academic discourse and addressing real-world economic challenges. Working closely with faculty mentors and research teams, graduate students have the chance to develop and execute their research projects, honing their critical thinking and problem-solving skills.

 

3.  Graduate school facilitates extensive networking opportunities with fellow students, faculty members, and professionals in the field. Collaborative research projects, seminars, and conferences provide platforms for building meaningful connections. These networks can prove invaluable not only during the academic journey but also throughout one's entire career.

 

4.  Master's and Ph.D. programs in economics are designed to enhance students' analytical and quantitative skills. From advanced statistical techniques to sophisticated modeling, graduate education equips individuals with the tools necessary to tackle complex economic issues. These skills are highly sought after in various sectors, including academia, research institutions, and private industry.

 

5.  While not always a prerequisite for certain entry-level positions, a graduate degree in economics can significantly enhance career prospects and open doors to higher-level roles. Many leadership positions in academia, research institutions, government agencies, and private corporations often require or prefer candidates with advanced degrees.

 

6.  For those passionate about teaching and contributing to the academic community, graduate school is often a stepping stone to an academic career. With a Ph.D. in economics, individuals can pursue faculty positions at universities, engage in meaningful research, and influence the next generation of economists.

​

© 2025 School of Business & Enterprise, Chatham University

bottom of page