Is Economics a subject in demand?
Posted on August 1, 2020
Economics is also often offered as part of a joint or combined honours degree, paired with subjects including computer science, engineering, history, law, sociology, management, mathematics, modern languages and politics.
Economics is a very popular degree course at universities across the U.S.
Economics graduates grow with a vast range of transferable skills, right from communication skills to numerical or analytical skills that make them very desirable graduates in the workplace.
There is much talk currently about the future of work following the COVID-19 pandemic with a predicted global recession and period of economic turmoil. In this situation economists will be in great demand to provide direction to government, to banks, to research institutes and to business, as nations seek to resurrect their economies.
In banking and finance there will be many problems to solve but there is also likely to be a more conservative approach to large graduate intake programmes. Disaster and crisis response roles including the mobilisation and implementation of new strategy will be in demand. Trained personnel will be in demand who can work on risk assessment roles which cover political, financial and societal as well as environmental risks.
It is due to pandemic that travel, tourism, hospitality and retailing sectors have seen a significant downfall. Working remotely, the digital economy virtual offices are inevitably going to feature more in everyone’s life.
The sectors that will want to invest in human capital this year, next year and beyond, how to create opportunities, what areas can grow- this planning and strategies can be done by an economist. To uplift the economy in present and future scenario the contribution of economists can never be denied.
International students looking for jobs in economics have a lot of options in the USA. From government and non-profit jobs to business and teaching, the skills students will gain from a degree in economics will open the door to all kinds of well-paying and fulfilling careers.
In near future jobs like operations/data analyst, business analyst, pricing analyst, and market research analyst will see remarkable growth and demand. Economists study and predict the distribution and production of different kinds of resources.
Economist works towards maximising the profits of the business and analysing the risk factors and coming up with the ideas of risk management.
International students with a degree in economics can also go to law school. Understanding how economics works will provide you with a good framework to understand the legal system.
Even economics can open the door to be an entrepreneur. A master`s degree in economics can open up door for several job options for the students. Students who are more interested in economic theory than practice may find teaching more rewarding. With a Ph.D. in economics, international students can get a job as a professor and pass valuable knowledge to generations of students.
To study Economics as a major in UG the best combination would be Economics, Mathematics and Statistics, Business, Sociology, Political science, Computer science.
Top universities for Economics in USA
- Harvard University
- Massachusetts Institute of Technology (MIT)
- Stanford University
- University of California, Berkeley (UCB)
- University of Chicago