Economics Degrees

With a bachelor of science in economics, you’ll learn to use mathematical models to solve some of the biggest problems that businesses and organizations face today.

You’ll learn how to conduct market research to anticipate profitable business decisions, help human resource departments develop incentives that improve employee productivity, and teach business leaders how to organize for improved profitability.

What is a Degree in Economics?

A bachelor’s degree in economics is part math and part-psychology. Economists study human behavior, but they do so using mathematical models, complex data mining techniques, and statistical probabilities.

Individuals with an education in economics are in demand for modern businesses because the principles of economics are used to make and justify a number of decisions in professional and government industries. With an economics degree, you can find work in a variety of career fields in many industries.

Students learn how to analyze large data sets in order to derive meaning from the data. These meanings could lead to increased productivity among employees in a workforce, increased profitability for a business selling products or services, or improved economic conditions for a local, state, or even the federal government.

By learning to analyze available data, economists can conduct research that enables business and government leaders to make decisions, allocate resources, and solve complex problems.

What Courses Would I Take For a Major in Economics?

What Jobs Can You Get with a Degree in Economics?

With the increasing adoption of internet-connected devices in homes across the US—computers, mobile phones, smart speakers, and IoT devices—more data than ever is available to government agencies and modern businesses.

That data can be used to make sound decisions, improve society, and increase profitability, but only if an economist is available to mine and analyze the data. For these reasons, individuals with education in economics should be in high demand in the coming decades.

How Long does it take?

A bachelors in Economics will have a typical length of 4 years in a full time schedule. That said, there are many ways to speed up the timeframe by either taking more units via online coursework, community college, or taking free classes at OnlineDegree.com that could transfer to universities in the US.

Online Economics Degree

Economics is a popular degree program that is offered by many universities in the US and around the world. There are also many programs that are offered completely online programs which provide more flexibility.

Students are expected to complete around 120 credit hours to earn the bachelor degree with some programs requiring the delivery of a graduation project that is usually a case study about one of the topics in the field.

What Can You Do With an Economics Degree?

Economics is a branch of social sciences that focuses on the production, distribution and consumption of goods and services. It deals mainly with the behavior of the economic units which can be individuals, companies or governments. The field is divided into two main disciplines which are microeconomics and macroeconomics.

It can also be divided into positive or normative economics, rational or behavioral economics, and mainstream or heterodox economics. The study of economics can be applied to almost all aspects of life including business, finance, real estate, health care and government.

It can also be extended to other non-traditional fields including law, politics, religion, education and science. Economics graduates have a unique understanding of the behavior of consumers which provides insights about market demand and production.

What does an economics student learn?

Economics students learn about the flow of goods and services in the market, the psychology of consumers and how this can be coordinated. They must also have knowledge related to numbers. The following list shows the courses commonly offered in economics degree programs:

1. Mathematics and statistics: these are the fundamental courses related to the statistical analysis of the market data which is an essential part of all economic theories. Statistics are needed to identify trends or significant changes in market behavior.
2. Principles of economics: this course introduces the basic principles outlining economics. These are general concepts that have been defined and updated for hundreds of years. Some of the most common concepts of economy are the comparison of cost and benefit, the significance of future consequences, and the effect of scarcity on trade-offs.
3. Microeconomics: it is the branch of economics that deals with the behavior of individuals and business corporations. It focuses on decisions related to the use of scarce resources and how they interact together including production, exchange and consumption of services and goods.
4. Macroeconomics: it is the branch of economy focusing on the large-scale factors affecting the economy of countries as the interest rate or national productivity. Macroeconomics focuses on three main concepts as national output, unemployment, and inflation.
5. Game theory: it is a social, psychological and mathematical theory that provides a strategy for optimal decision making. The theory is used to understand what is known as the oligopoly firm behavior to explain certain firm behaviors as price-fixing and collusion.

Now I have the economics degree…where can I work after graduating?

Studying economics is demanding and requires much dedication. Economics graduates are highly demanded in all large companies and organizations. They are commonly responsible for leading the strategy or policy by predicting short-term and long-term changes in the market. Economics careers are usually financially rewarding. The following list shows the most common career options available to economics graduates:

1. Economists: they work with the government, research institutes and other financial organizations to analyze and predict market trends. They play a vital role in studying some topics such as energy costs, inflation, interest rates, rents, imports, or employment.
2. Financial risk analyst: the role of this job is to analyze the portfolio of businesses including their local and international investments and determine the risk associated with these investments. They provide recommendations to limit the risks as diversification of resources and currency exchange.
3. Financial planner: the role of this job is to help investors plan for their future investments or financial decisions.
4. Actuary: they work in insurance and pension companies to evaluate uncertain future events using mathematics, statistics, and financial theory.
5. Public sector roles: economists play a vital role in the public sector in evaluating financial decisions of the government as the distribution of the budget, financial balance and providing public services such as transportation.

Should I choose an economics degree?

Economics is a highly demanded degree that is offered by many universities. It is a financially rewarding field of work. Additionally, studying economics helps you develop a number of important skills:

1. Communication skills: economists usually have to deliver their conclusions and results to other people outside the field of specialization with less knowledge or experience. Accordingly, they have to use concise and clear knowledge to accurately deliver their work.
2. Leadership: economists commonly hold leading positions in companies and governmental organizations where they set policies and investment strategies. They have to lead teams of various specializations.
3. Analytical and problem-solving skills: this is the core of the economist’s work. They have to analyze data, market trends, financial statements and performance indicators to provide valid conclusions and predictions and recommend the most appropriate solutions.
4. Time management: the field of economics is highly dynamic and the market can change very rapidly. The job can get very stressful and you have to manage your time efficiently to keep your work on track.

Best Jobs for Economics Degrees

Individuals with degrees in economics can work in a variety of careers across many different industries. Many work in finance and enjoy careers as financial analysts.

Others work in research and marketing where they enjoy careers as market research analysts. Some work in government and help the US government determine interest rates, establish policies, and improve the economy during economic downturns.

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  Economist

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  Financial Analyst

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  Market Research Analyst

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  Mathematician

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  Risk Management Director

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  Budget Analyst

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  Finance

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  Accounting

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  Economics

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  Mathematics