Banking and Economic Careers

Guidance For Getting A Business, Economics or Finance Degree Credentials

How can we combat the problems of the economy going into the next decade, whether it's scarcity of employment, of budget capital or of energy? The Business Economics major has the innate ability to look at a pool of data and know what is to be done. These individuals are adept in business, politics, math, accounting and statistics. They work with the federal government, local governments, private firms, banks, hospitals, the stock market and a host of other fields. For people who want a secure, well-paying job, management economics is a wise field to choose.

As you may have heard, the choice of school and the pursuit of a degree are extremely important in determining your success in economics. Just about every school offers macro economics and microeconomics courses, but to really get ahead, you'll want to get into a graduate school with the best department of Economics you can find. The best schools may offer more passionate teachers, better internship options, more extensive areas of study and the sort of prestige you'll need when looking to start your career in the competitive labor market.

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When choosing classes from a school's department of Economics, the best advice is to take more math courses! It can be easy to fall behind in your studies if you aren't crystal clear on the statistics, calculus and mathematical concepts. When you were trying to get your bachelor's degree in economics, you were likely scanning the course options for "easy electives" and ways of pulling your GPA up. However, graduate schools care most about what hard classes you've taken and how well you did in them, rather than your GPA as a whole. Be sure you take real analysis, calculus and econometrics, as these classes will be vital to your understanding.

To get an undergrad degree in Business Economics, students attending an accredited economics university will need to take courses like macro economics, microeconomics, financial accounting and reporting, calculus, economics statistics, econometrics, money/banking/credit, business writing, the stock market, labor economics, monetary economics, international trade theory, law and economics, industrial organization, economics and business strategy, organizational psychology, formal organizations and politics and the economy.

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Upon graduating with a degree in Business Economics, one may work in government, business or education. People with four-year bachelor's degrees can get hired in many entry-level administration, consulting and management trainee jobs. Yet, those who wish to pursue a career as an actual "Economist" should pursue a Master's or PhD degree. Getting an advanced degree with as much math and accounting as possible is the best way to stand apart from the competition. According to the Bureau of Labor Statistics, the demand for someone with a degree in economics is projected to grow 7.5% by 2016.

Individuals with a degree in Business Economics have been recruited by employers like the California State Controller's Office, Cerner Healthcare Information Technology, Coca-Cola, Consolidated Graphics, Deloitte Services LP, Edward Jones, Enterprise Rent-A-Car, Ernst & Young LLP, General Mills, Inc., Insight, JPMorgan Chase & Co., Liberty Mutual Insurance Group (MA), Medix Staffing Solutions, PetSmart, Raytheon, Sherwin-Williams, Travelers Insurance and Wells Fargo Financial. The economics field is expected to grow 7% by 2016, adding another 16,000 workers. People with bachelor's degrees can get almost any entry-level job in business. Master's degree holders generally compete for sales and management trainee positions. Those who hold PhD degrees often go on to teach or become top market analysts in their fields.

Unlike undergrad, the department of Economics in grad schools looks to cultivate the best and brightest talent. Most students are granted a fellowship, assistantship, grant, tuition remission or monthly stipend to cover the cost of the program and living expenses. Be aware that you'll be required to do a lot of dirty work for your money, like grading, teaching, lecturing, leading weekly section meetings, researching and writing. If a lot of students are admitted, then you may still need to pay or seek NSF grants on your own. The good news is that, after all their hard work, 99% of graduate students get placed into applied economics positions right out of grad school.

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