Degree Completion in Economics
The unique field of economics combines practical business, monetary and production principles with concepts of mathematics and logic in order to research, evaluate and develop effective strategies for producing goods, providing services and maximizing profits. Professionals working in the field of economics evaluate labor output, raw materials, production processes, marketing methods and other variables in order to prepare reports and forecast about economic trends. While most economics graduates work in the banking & investment sectors, a large number are employed by various consultancies, manufacturing industries and large business corporations.
About the Degree
The basic degree awarded in the field of economics is the Bachelor’s degree, which is designed to give students the basic skills that will come in handy while engaged in a career in economics. A bachelor’s degree in economics helps students enhance their mathematical skills and analytical abilities. Students take classes in the areas of advanced mathematics, statistics, statistical analysis and micro- and macroeconomics. Students are required to have graduated high school, preferably having taken courses in mathematics and statistics. Entry requirements for various colleges vary, however most require students to have taken an assessment test such as the SAT.
For people who wish to obtain a higher degree in economics, Master’s degree programs are also offered. The Master’s degree programs are largely focused on a specific area within economics such as Development Research, Economics of Development, International Business, Population Development, Policy Analysis and Agricultural Development. The US Bureau of Labor Statistics reports that economists and economic analysts have a median wage of $91,860 per year as of May 2012. Employment opportunities are also present in various government agencies, international organizations such as the World Bank, as well as in private corporations and educational and research institutes.