If you are looking to study
economics at university, you will be entering into a world full of potential.
Economics is offered in some form at just about every university worldwide. It is also a good option for studying abroad, as in this particular field international experience is especially valuable. A study abroad experience gives you insight into a different culture, and the workings of a different government, which can be especially valuable when studying the international interdependence of different economies through for example international trade, lending and aid. Something, which in today's environment is always relevant.
An introduction to Economics
Economics is often split into two main areas - macroeconomics and microeconomics. Beyond these, there are lots and lots of connected branches with specialization into international economics, political economics and so on and so forth. However, to understand the specializations, it is vital to understand the basics, as macro and microeconomic variables influence each other in many ways. Very basically, macroeconomics focuses on the economy as a whole with factors such as government policy, unemployment, inflation and price levels. Microeconomics on the other hand focuses on the smaller picture - what happens in components of the national economy such as individual firms, households and consumers.
Studying Economics
Economics is available at all levels of higher education. It is very common for those with a basic economics degree to move on to a
master or even
PhD course in far more specialized areas in order to gain a better understanding and to guide their careers in the desired direction. As
economics is a very complex and wide area of study, it is often hard to say what aspect or which courses you will enjoy most before you start your studies and gain a better insight into what is available to you.
Economics degrees are often available as a
science or an
arts degree. The difference is usually that the science degree to a larger extent focuses on the mathematic side of economics, with more of the courses having a scientific orientation. Although economics is not to be recommended if you are truly averse to mathematic calculations, the arts degree usually gives a broader choice of courses. Some fields which are commonly part of, and closely connected to
economics are courses in economic history,
international relations and politics to name just a few.
Careers in Economics
A degree in
economics at any level gives you a great opportunity for future well paid and relevant employment. As with most education - the higher your degree, the better are your prospects - but not always. The basic
economics degree can be said to provide you with a good range of skills including:
- Analytical and problem solving skills
- Numerical and computing skills
- Communication skills
- Team working skills
- Political Awareness
These skills are often deemed very valuable by future employers and make you a good candidate for a wide variety of jobs. Many graduates are employed within business and finance in positions such as accountants or consultants. Marketing and sales occupations are also common, while others end up as managers in the commercial, public or industrial sectors. Your skills as an
economics graduate also make you particularly suitable for positions within for example information research. As previously mentioned, if you are looking to enter into an international career - a previous experience of
studying abroad is a very valuable asset.
