What you can do with a degree in... economics
Bournemouth University explores the value of an economics degree
Economics is a very flexible degree, giving you the opportunity to explore a variety of exciting roles. Here we’ll share some examples of career paths that your degree could take you down, but first, let’s look at the skills you’ll gain which could get you there.
Skills you can gain from this degree include…
Mathematical skills - you’ll not only gain confidence in your mathematical ability, but be able to use this knowledge to apply to problems in everyday life, and in careers in business, finance and the public sector.
Communication - you’ll gain the ability to present ideas in a well-defined framework, supported by evidence that uses complex data.
Problem-solving skills - you’ll be able to use your maths and statistics skills to solve complex problems.
Statistical analysis - you’ll use software that analyses statistics, so you can make meaning from any research you conduct or data you collect.
Interpreting data - you’ll gain an understanding of complex data, which you’ll be able to analyse and draw conclusions from.
With a degree in economics, you can become…
Here are some common roles that economics grads go on to hold.
You probably could have guessed this one! Economists provide economic advice, often to businesses or other organisations. You’ll research economic or social policy - anything from interest rates to taxation to employment levels. Naturally, an economics degree could not be a better way into this career. You’ll spend your days analysing data, providing economic forecasts, and following trends in the finance industry - all skills you’ll hone during your degree.
Management accountants manage the finances and budgets of companies of all sizes. There are tons of opportunities to work in a range of organisations, including in public practice firms and industry, as well as in the not-for-profit and public sectors. In addition to maths and accounting skills, your degree will help you develop the analytical and logical thinking that you’ll need to really succeed.
Political risk analyst
In this career, you’ll analyse the political risks of working in different countries and areas so that your employer can be prepared for doing business or determining policy there. You’ll need excellent numeracy and an understanding of how to interpret and use financial data for this career, which you’ll gain while pursuing your degree. Exactly where this will take you depends on who you work for, and what kind of role you decide to take on. Your work might focus on a specific country or religion, cybersecurity, consumer businesses, or economic developments.
Particularly in the finance sector, data analysts are in high demand. Being highly organised, having a great attention to detail, and being able to explain data both verbally and on paper is essential for this career. Thanks to your experience with making data-based arguments in your essays and giving presentations during your degree, you’ll be all set to succeed in this field.
Financial advisers help people and organisations to choose investments, savings, pensions, mortgages or insurance products. Many financial advisers choose to specialise in one of these areas. You'll need excellent maths and communication skills in this role, as well as the ability to analyse and research financial information - all of which you will build by studying for an economics degree.
Investment bankers serve as a link between companies and investors. When a company wants to expand or begin a big project, they need capital (money or assets) to do it. In this role, you’ll help them to raise that capital by issuing stock or borrowing from investors. Your mathematical skills, combined with your ability to solve problems, will help you achieve this.
A degree in this subject might also take you to…
Whilst you might expect to pursue one of the above roles after an economics degree, the combination of maths, statistics, communication and financial knowledge you'll gain could lead you to a whole range of careers. Some of Bournemouth University's graduates have found themselves working in the following roles…
High levels of critical decision making are integral to a pilot, and the ability to analyse lots of information at once to reach the best outcome. If you have an analytical mind and are confident in making decisions and taking the lead, then you’d be great at studying Economics and could make a great pilot too.
Junior brand strategist
An economics degree will develop your research and analytical skills and your ability to view problems in a national and international context. Your awareness of how choices impact a brand or product through analysis will prepare you for an excellent career as a brand strategist.
A good journalist brings to life true evidence and facts. Studying economics could prepare you for this by developing your ability to work with data and evidence, whilst giving you opportunities to present your ideas in a clear, logical way.
As a golfer, you don’t just need excellent physical performance, you need quality psychological performance too. You’ll need considered, quick decision-making abilities; you’ll need to be calm under pressure; and you’ll need high levels of concentration, which are skills synonymous with studying an economics degree.
If considering a career in teaching, you’ll need excellent knowledge of the subject area and be skilful in presenting ideas, communicating effectively, and motivating students. If you are passionate about economics, a career in teaching the subject could be a brilliant and rewarding path to follow.
15 months after graduating…
The average salary for an economics student 15 months after graduating is £30,221. According to our stats, roughly 84% of these students have secured a graduate job by this point.
… and long term?
‘Economic concepts can help you understand the logic of complicated data, to see how things relate to each other, and to see the broader context in everyday life’ - Dr Tahani Mohamed, Accounting Finance and Economics Department, Bournemouth University
Intrigued by one of these careers? Visit the Careers library to learn all about what it entails, and how you can make your way there.
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