How Does Economic Degree Make a Difference in World with its Analytical skills?

How Does Economic Degree Make a Difference in World with its Analytical skills?

If you're the analytical one and fascinated by the world around you, then an economics major might be a suitable choice for you. The evergreen economics degree can help you get started in different areas, including finance and public policy.

You can use a degree in economics to study industry trends, labour markets, the prospects for other companies, and the forces that drive the economy. Of course, you can do plenty of courses in economics like B.Sc, M.Sc, and PhD. But, if you pass the 12th class, you can pursue B.Sc (Research) in Economics.

B.Sc in Economics is a 3-year undergraduate course that focuses on the program mostly related to mathematics and economics elementary economics. Subjects include legal studies, money and banking, global finance, economic history, international trade, and collective decisions. In this blog, we will help clear your questions about the fees, career options, benefits of doing this course, etc. But, first, let us know about the fees.

The average fee of the BSc Economics course for one year varies between 50 000 to 1 Lakh. If you need a trusted university with a reasonable fee structure, you are welcome to see Shiv Nadar University courses and fee structure. However, all colleges and universities have different fee structures.

Job roles with a degree in Economics A degree in economics can provide various job opportunities in nearly every industry, from local government and the sciences to finance and insurance. Here are some job options to consider when choosing a career path with an economics degree.

Indian Economic Service officers: They work for elite government agencies like the Ministry of Economic Affairs, the Planning Board and the National Sample Survey. They are recruited through the UPSC entrance exam. 

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Market research analysts: They collect data and information using numerous methods such as questionnaires, focus groups, market surveys, public opinion polls, interviews, literature reviews, etc.

Operations managers: The role of the operation manager is to oversee the production of goods and services to provide the organisation runs smoothly.

Economic consultants: Economic consultants use analytical and research skills or knowledge to study economic scenarios. Also, financial consultants work either independently or as part of a unit employed by a company.

Credit analysts: They conduct microeconomic analyses of prospective customers to assess the risks of loaning funds to those people or businesses.

Financial analysts: They research companies, stocks, bonds, industries, and other investment vehicles for finance sectors.

Policy analysts: The job role of research and analysis of issues that impact the world. They recommend legislation and government intervention to address the problems.

Agricultural economists: They specialise in the economic activity of farming markets.

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Stock analysts: They analyse a company's investments, give recommendations and track investment data.

Risk analysts: They work closely with traders to calculate the risk associated with specific trading transactions.

International Banker: They work for international banks like the World Bank on financial and development programmes related to economic growth.

How is the BSc degree in Economics Course Beneficial?  

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A student in Economics can expect many entry-level jobs in banking, finance, insurance, stock markets, sales, marketing, and corporations like consulting firms or government departments.

They can also begin their career with investment firms, government enterprises, public undertakings, newspapers, and business journals. The Indian Economics Services and Reserve Bank of India are also fantastic options open to those who want to join government services.

As an available option for all economics students, social science students can opt for journalism, law, etc., to diversify their career opportunities.

They can also take up teaching in various institutions. There are multiple choices for entering non-profit institutions like NGOs. However, the maximum growth potential for economists lies in the private sector and, most notably, in scientific research and consulting firms. Besides, merging the world economy gives ample career opportunities in international financial institutions and research activities.

B.Sc. (Research) degree in Economics is designed to be comparable to internationally acclaimed programs and combines rigour in training with flexibility in choice. The aim is to produce students ready for opportunities in the market: be it jobs in the corporate sector, public sector, nongovernmental/ social sector or a desire to pursue higher studies in economics or related disciplines.

A B.Sc. degree in economics will boost your employability in many areas, regardless of your industry. As a result, the demand for economists is increasing in the global labour market. In addition, the widely transferable analytical and problem-solving skills developed by economics students mean that careers in economics are extensive and diverse.