Insight on Economics

"Economics", can be easily defined as a particular area of study that basically relates to how society sets about or works in order to meet the demands for different things. The study basically looks at the making, use and sale of services and goods. It can be considered as the branch of social science that can help an individual in understanding the impact of developments in business and society. Today economics has produced some of the most attractive career fields. In fact, in recent times, career in economics has seen some sharp rise than any other career fields. These days, there are plenty of jobs for graduates in Economics. They can go for many entry-level jobs in stock markets, marketing, banking, finance, insurance and corporations like government departments/consulting firms. They can also start their career in administration, information work, retail management, IT and the media. Besides this, students holding a doctorate degree in economics can take higher positions in public/private sector or opt for jobs in Journalism or law.


Apart from all this, in the age of globalization and liberalization, today it won't be wrong to say that economists are getting good exposure. The average annual wage and salary earning of an economist is $78,010 in 2009. The middle 50 percent are getting between $56,740 and $106,500. The highest 10 percent are getting more than $146,550 while the lowest 10 percent are earning less than $44,280. Though, studying economics can result to have a decent-paid job, but the Economics degree an individual undertake have more impact. Where master's degree holder could qualify for higher positions with an annual salary of $43,731, at the same time those with a Ph.D. could start from $52,912. Individuals with experience along with an advanced degree could expect $63,417.


If you are really intended to succeed in the arena of economics, then you must go for an advanced degree. The most common degree courses that are needed to get into this field are graduate degree, master's degree and sometimes PhD for higher position jobs. These degree courses provide more flexibility to students to obtain a higher salary in the field. In the United States, there are plenty of schools offering graduate, masters and PhD programs in specific areas of economics like international economics, advanced theory, econometrics or demographic economics. However, apart from educational requirements the next thing you would be required is good analytical skills.


Today the economic behavior is so extensive and common that it is really hard to find any facet of our lives that cannot be analyzed from the outlook of economics. The flexibility of economics actually makes it a very challenging yet pleasing subject to study and field to work in.


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