Unlocking the World of Economics: Navigating a Career in Economics

ATTENTION: Do you frequently read the news? Are you invested in keeping up with current events in politics and policy? Are you always aware about the economic situation around the world? Lastly, are you up to pursuing a job with a high starting salary?

If you answer “yes” for most of the questions above, CONGRATULATIONS! Pursuing an economics major would be suitable for you.

Many high school students still find economics to be a challenging topic. However, it also offers a wealth of chances that may be tailored to a variety of hobbies as well as solid and profitable professions. Whether you have a passion for social issues, statistics, politics, or culture, an economics degree can help you find a job that reflects your interests. You might not even be aware of how well-suited to economics you are. Being confident with mathematics is crucial, but so is having respect for politics and culture. Understanding the institutions and policies influencing our economy requires these abilities in a big way.

Economic careers are diverse, allowing you to customize your route to your individual interests. If you train to be an economist, you can work for a consulting firm, the government, or provide guidance within a company. Moreover, a graduate degree can be very helpful for people who are interested in financial analysis or management because these positions are challenging but extremely profitable. By 2028, the Bureau of Labor Statistics predicts a 20% increase in market research analyst employment, which is a faster pace of growth than the rest of the labor market. This shows that there will be a high demand for people who have graduated from economics. Therefore, it would be much easier to apply for jobs. Other than that, since economics is very flexible in its learning, people might also consider other occupations that still have a deep connection towards economics. For instance, journalism can be your area of specialization if you'd rather work in a position that puts greater emphasis on helping people.

On the downside, it is important to keep in mind that many first-year positions in economics frequently call for a master's degree, so bear that in mind as you plan your academic path. However, not to dim the spark, the journey can be rewarding. According to research, the Bureau of Labor Statistics reports that there is a continuous rise in employment possibilities for economists, with promising compensation growth. Therefore, it is a great opportunity to consider getting that economics degree.

Now that I’ve got you hooked, you might wonder, what should I do to prepare myself in advance as a high school student?

There are actions you may take in high school to position yourself for success if an economics profession is something you're thinking about. Firstly, concentrate on taking calculus, global history, and history subjects as well as other challenging math and history courses. This is because most of their materials can be correlated to economics. If at all feasible, international students from the US are encouraged to enroll in AP macroeconomics or AP microeconomics. This goes the same for students who are in the IB programs to take HL Economics and HL in Business Management. Lastly, similar to many other professions, the field of economics also sets its eyes on people who can be fluent in foreign languages because it shows a person’s international qualifications.

The first step for high school students is to carefully research the best university options for them to pursue economics. Ask yourself these important questions when you investigate economics degrees at various institutions. Does the university provide a bachelor's degree in arts, science, or both? Does the degree program fit your particular economic interests? Can you become an expert in your chosen field of study? How many internships have former students held, and does the department encourage such opportunities as they are crucial for your personal experience and making connections? Does the department provide extracurricular opportunities to help you enhance your skills even more? Some of these questions are designed to help you find the best option possible because what you learn and what activities or organizations you are involved in may help determine your future career.

Sources:

S. (2020, May 28). Beyond the Numbers: How You Can Pursue a Career in Economics. UNCF. https://uncf.org/the-latest/beyond-the-numbers-how-you-can-pursue-a-career-in-economics

Guide To Economics Classes In High School | Aralia. (n.d.). Aralia Education Technology. https://www.aralia.com/helpful-information/guide-to-economics-classes/