Economics
Economists analyze problems and policies related to the production, distribution, and consumption of goods and services. They combine an awareness of the external economic, social, and political environment with an understanding of how to organize the use of economic resources efficiently. The study of economics is excellent preprofessional training for careers in administration, business, public service, research, teaching, or law.
Representative Job Titles and Areas of Specialization
| Account Executive | Loan Assistant | | Agricultural Economist * | Loan Officer | | Bank Examiner | Management Trainee | | Banking Operations Officer | Marketing Representative | | Budget Analyst | Methods Analyst | | Business Analyst | Political Economist * | | Credit Analyst | Professor/Instructor/Teacher * | | Contract And Procurement Specialist | Research Assistant | | Econometrician | Revenue Officer | | Economist * | Securities Examiner | | Environmental Economist * | Staff Consultant | | Financial Analyst | Statistical Analyst | | Foreign Service Officer | Systems Analyst | | Insurance Claim Adjuster | Trade Assistant | | Insurance Underwriter | Transportation Industry Analyst | | Internal Auditor | |
* See Training section
Nature of the Work
Opportunities in business, industry and government for those with a bachelor's degree in economics typically involve the collection, compilation and analysis of data, as reflected in many of the job titles listed above.
Economists study the way a society uses scarce resources such as land, labor, raw materials, and machinery to provide goods and services. They may make studies of current problems such as inflation, business cycles, and employment or unemployment. Depending on the topic under study, economists may devise methods and procedures for obtaining data they need. For example, sampling techniques may be used to conduct a survey, and econometric modeling techniques may be used to develop projections. Preparing reports usually is an important part of the economist's job.
Some economists who are primarily theoreticians may develop theories through the use of mathematical models to explain, for example, the causes of inflation. Most economists, however, are concerned with practical applications of economic policy in a particular area, such as finance, labor, agriculture, transportation, energy, or health. They use their understanding of economic relationships to advise business firms, insurance companies, banks, securities firms, industry associations, labor unions, government, and others.
Economists may teach, conduct research, provide consultation or do a combination of all three. In industry and government, economists keep policy makers informed on the economic environment in which the organization operates.
Places of Employment
| Consulting firms | Federal government - cont'd | | Banks | - General Accounting Office | | Insurance companies | - Department of Defense | | Manufacturing firms | - Department of Labor | | Public utilities | - Veterans Administration | | Federal government | - Department of Transportation | | - Central Intelligence Agency | - Department of the Treasury | | - Comptroller of the Currency | - Federal Reserve System | | - Health and Human Services | City, county and state government | | - Internal Revenue Service | Brokerage firms | | - General Services Administration | Educational institutions | | - Department of Commerce | Aerospace industry |
Training
A bachelor's degree in economics will qualify one for entry-level positions with business, industry or government in research, administration, and management. Many of the jobs listed above may be obtained with a bachelor's degree depending heavily on the type of coursework completed and experience gained while in school.
Graduate training, required for those positions designated by an asterisk, usually qualifies one for higher level research and administrative responsibilities. A Ph.D. is necessary for university teaching and for top positions in many other organizations. Banks, industrial concerns, trade associations and government agencies employ experienced economists in managerial or executive positions to formulate business and administrative policy.
For further information and/or career counseling contact the Career Center, Veitch Student Center, Northwest Wing, University of California, Riverside, 951.827.3631.
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