The Economics Careers of The Future
posted in Bricks and Mortar Business |The economics field is full of a diverse plethora of jobs. In government, individuals with a degree in economics can become Consumer Affairs Directors, Government Administrators, Health Economics Administrators, Intelligence Agents, International Trade Specialists and Urban Planners. With economics research, individuals can be Actuaries, Business Forecasters, Chamber of Commerce Analysts, Demographers, Industrial Economists, Information Scientists, Institutional Research Directors, Populations Studies Analysts and Statisticians. There are also many professorial positions at universities, newspapers, banks, accounting firms and small businesses.
Medical economics is one branch of the economics major to consider. To be considered for this position, students must earn their PhDs in economics. About 72% of health economists wrote a health-related dissertation, even though their grad programs lacked a specific niche in health economics. Some of the top schools include the University of Chicago, Harvard, Princeton, UC-Berkeley and Columbia University. Approximately 64% of health economists work in academia, but 15% work for non-governmental organizations, 12% work for the government and 9% work for private companies. Nearly a third work in public health, but a decent amount work in medicine, arts & science, business and public policy. Half of the health economists look at labor economics and individual behaviors, public finance/government policies, outcomes research/the burden of illness, health insurance solutions and over one-third look at industrial organization/the behavior of firms.
“Depending on the program, about half the graduates stay in academics, and the other half go into the private sector, government, or places like the World Bank or International Monetary Fund,” explains William Collins, director of education economics at Vanderbilt. Getting the economics career at a university is the ideal position for many people with a degree in economics. After all, summers and weekends are usually free, and salaries range from $80,167 for Senior Assistant Professors to $97,500 for full Professors. Teachers at PhD-granting institutions earn even more; $95,995 to $204,800! Yet, outside of academia, there are famous economists like Fed Chairman Ben Bernanke, New York Times columnist Paul Krugman, and Obama advisers Christina Romer and Laura D’Andrea Tyson.
Global economics is also a fascinating field of study, particularly since the recession in the United States set off a domino effect around the world, from Iceland to Ireland. Many people who are studying in the economics field focus on international trade policy and learn foreign languages. They also take a look at labor economics and the impact of jobs moving overseas. They watch stock markets, financial markets and new securities coming out. Ultimately, these economics analysts can go on to work at the International Monetary Fund, World Bank, the federal government, academia or private companies.
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