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Economics Subject And Its Scope
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Economics is a truly unique subject that has withstood the winds of change, trends, market fluctuations, etc., to remain as a steady and consistent field that promises great prospects for employment-whether as an independent economist, a consultant, or employed by the government, non-government organizations, private organizations, etc.
As a subject, economics is really vast and as an economist, you can be guaranteed to be fulfilled intellectually and creatively with all the unique learning opportunities that come your way in the course of your day-to-day work and interactions.
The impact of economists
Economists play an important role in different facets of both public and private organizations as well as non-government organizations. They also have a great influence on policies and strategies in a wide range of industry verticals, from trade and commerce to agriculture, communication and transport to social welfare, national planning to grassroots level strategies, etc. Because of this, a career in economics is always in demand all over the world. Being so closely related to commerce and development, every country in the world, whether developing or developed, will be in need of economists who know their subject inside out and can apply it constructively in a creative yet practical manner.
Specialties of economics
A career in economics need not be boring, what with the many different categories in which you can specialize, depending on your unique interests and passions. Some of these specializations are in the field of:
• Business economics
• Agricultural economics
• Health economics
• Education economics
• Policy economics
• International economics
• Political economics
• Industrial economics
• Rural economics
• Financial economics
• Applied economics
And many, many more!
What are the career opportunities after studying economics?
Once you have done your undergraduate, postgraduate, and if you wish, even a doctorate in economics, there are opportunities galore in different organizations and fields. These could range from chartered accountancy to business administration, social welfare organizations to research and educational organizations, industrial management to home science, etc. You could work as a consultant, teacher, professor, advisory, research scholar, administrator, etc.
What is required to excel in economics?
There is no limit to the kinds of roles that you can take on and how you can contribute if you have the passion and discipline to excel in economics. You should also have a natural curiosity and thirst for knowledge that drives you to update your skills and general knowledge based on what is happening in the world right now. This is important because economics is a dynamic, vibrant, and living field of knowledge that keeps changing based on the different market scenarios and political situations in the world. So keeping yourself up to date is one of the most important things to do as an economist. A desire to contribute to the well being of the community and the development the country as a whole and the world in general will also help to take you to further heights in your career.
Scope for studies in economics
The first step to get into the field of economics would be to get an undergraduate degree in economics, which would be a bachelor of arts. Depending on the educational institution, they could also offer different categories in this, such as business economics, or offer add-on subjects, such as transport management, etc.
After your bachelors, it would be a good idea to continue onto your master’s level to further consolidate your knowledge and also add to your resume and your confidence. A master’s degree in economics, again, is offered in different categories in different institutions. You could do it in applied economics, econometric, rural economics, development economics, business economics, etc. For both the undergraduate and postgraduate level, remember that you can always choose just plain old economics and still have value in your career.
After your master’s, if you choose to, you could purse a doctorate in economics Again, you could choose a specialization ranging from all the above mentioned ones and also in analytical and applied economics.
No matter where you choose to study or which specific subject in economics you choose, you can be sure of having the doors flung open to you in the corporate world, educational, government, non-government institutions, as well as private bodies.
Mely Jess is a reputed content writer, known for writing on several academic subjects and associated with Help with Assignments Company. Today, the topic on which she has written is Economics Subject and Its Scope
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