According to a 2002 National Association of Business Economics survey, 18.5% of the economics grads work for the government, 16% work for private consulting firms, 11.5% work in academia, 11.2% work for financial institutions and the remaining 42.8% work in other areas like scientific research and development services for other industries like agriculture, law, health care, etc. Economists, investment bankers, commercial bankers, corporate financial managers, stockbrokers, traders, financial securities analysts and administrative managers all have degrees in basic economics and business.
Some people take economics college courses because they want to work in business, but distinguish themselves as a cut above the rest. Compared to a mere business degree, a degree in economics involves more mathematics, more statistics and a well-rounded mixture of economic theory, organizational communication, management and technical writing courses. To employers, an economist has more gravitas and adds more value to their organizations. As a result, graduates from a school's department of Economics tend to earn more money out of school and win more prestigious positions than business majors. According to a 2002 National Association of Business Economics survey, economics majors earned 20% more than business administration majors, 19% more than accounting majors, 18% more than marketing majors and 15% more than finance majors.
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.
When a student is looking for a degree major in Business Economics, certain courses are required. Courses in macro economics, microeconomics, business accounting, finance courses, math courses, statistics, stock market fundamentals and technical indicators, labor economics, monetary economics, international trade theory, business law, organization and business strategy, psychology courses, political science courses just to mention a few.
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.
According to US News & World Report, Harvard University in Boston, Massachusetts is the top-rated school for Business Economics. The second-best university in this field is Stanford in California and Northwestern University in Illinois. After the top-three, other economics college options include the University of Pennsylvania (Wharton) in Philadelphia, the Massachusetts Institute of Technology (Sloan) in Cambridge, the University of Chicago, UC-Berkeley in California, Dartmouth College in New Hampshire, Columbia University in New York City and Yale University in Connecticut. It's highly recommended that individuals looking to remain competitive in their field pursue advanced education with Master's or PhD's.
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.
In the summers, seek out internships and peruse the Job Openings for Economists (JOE) job board. To be successful in any field, you must love what you're doing, as well as eat, sleep and breathe it.
Some people take economics college courses because they want to work in business, but distinguish themselves as a cut above the rest. Compared to a mere business degree, a degree in economics involves more mathematics, more statistics and a well-rounded mixture of economic theory, organizational communication, management and technical writing courses. To employers, an economist has more gravitas and adds more value to their organizations. As a result, graduates from a school's department of Economics tend to earn more money out of school and win more prestigious positions than business majors. According to a 2002 National Association of Business Economics survey, economics majors earned 20% more than business administration majors, 19% more than accounting majors, 18% more than marketing majors and 15% more than finance majors.
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.
When a student is looking for a degree major in Business Economics, certain courses are required. Courses in macro economics, microeconomics, business accounting, finance courses, math courses, statistics, stock market fundamentals and technical indicators, labor economics, monetary economics, international trade theory, business law, organization and business strategy, psychology courses, political science courses just to mention a few.
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.
According to US News & World Report, Harvard University in Boston, Massachusetts is the top-rated school for Business Economics. The second-best university in this field is Stanford in California and Northwestern University in Illinois. After the top-three, other economics college options include the University of Pennsylvania (Wharton) in Philadelphia, the Massachusetts Institute of Technology (Sloan) in Cambridge, the University of Chicago, UC-Berkeley in California, Dartmouth College in New Hampshire, Columbia University in New York City and Yale University in Connecticut. It's highly recommended that individuals looking to remain competitive in their field pursue advanced education with Master's or PhD's.
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.
In the summers, seek out internships and peruse the Job Openings for Economists (JOE) job board. To be successful in any field, you must love what you're doing, as well as eat, sleep and breathe it.
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