What does the future hold for those with degrees in economics? As business markets become increasingly global and competitive, and with the rise of data-driven technologies, more economists will be needed to crunch and analyse the numbers.
According to CareerPlanner, “employment of economists is projected to grow 6 percent from 2016 to 2026, about as fast as the average for all occupations.
“Businesses and organizations across many industries use economic analysis and quantitative methods to analyze and forecast business, sales, and other economic trends.
“Demand for economists should come from the increasing complexity of the global economy, additional financial regulations, and a more competitive business environment.”
Climate change and sustainability are also areas where economists are valued, evaluating the economic implications of climate change and how it impacts businesses and industries.
A good example is how Nobel Prize-winning economist William Nordhaus developed his Dynamic, Integrated Climate Economics (DICE) model to consider the economic impacts of climate change and provide cost-benefit analyses of alternative policy decisions.
According to Forbes, “The model is a very useful baseline tool for policymakers to attempt to forecast policy outcomes and in using the model, Professor Nordhaus has analyzed the costs of environmental damage and the ineffectiveness of international treaties and accords to reduce greenhouse gas emissions.”
Universities today are educating economics students through cutting-edge degrees, teaching them to be innovative and tackle real-world global challenges, as well as how to think critically and make analytical decisions to create long-term, sustainable solutions.
These four universities are leading the way in offering global economics education and experiential learning opportunities to prepare them for a future where they can become leaders and innovators in economics.
PETER T. PAUL COLLEGE OF BUSINESS, UNIVERSITY OF NEW HAMPSHIRE (UNH) – USA
The Peter T. Paul College was ranked 58th in the US for the Best Undergraduate Business Schools in 2018, according to Poets&Quants.
The new Master of Arts in Analytical Economics is one of the most rigorous and highly ranked in the country, ideal for those who want to deepen their knowledge in the field and take their career to greater heights.
In just one year, students become well-versed in advanced economic theory, econometric and data analysis, and code in R and SAS.
There are two tracks students in this STEM-designated programme can take depending on their professional goals.
They can opt for the industry track where students gain the relevant skills for a career in the field, such as economic reasoning, statistics and analysing business problems.
The industry track also prepares them for future careers through completion of an applied project, summer internship, or assisting with faculty-driven research.
Students can also take the academic track that prepares them for PhD programmes through completion of the PhD comprehensive exam in economic theory.
Upon graduation, students stand out from the rest due to their ability to assist businesses with analysing big data and harnessing machine prediction techniques.
FACULTY OF HUMANITIES AND SOCIAL SCIENCES, UNIVERSITY OF BATH – UK
Based in the UK, the University of Bath has a strong reputation for Economics education. The University has been ranked in the Top 10 for Economics in both The Complete University Guide 2020, and The Times and Sunday Times Good University Guide 2020.
The University of Bath aims to deliver internationally recognised research and excellent student satisfaction, educating students to become future leaders and innovators. The institution has a vision to achieve global impact through their influence, research, alumni and strategic partnerships.
Within the Department of Economics, students learn how to analyse complex data and solve economic problems, as well as review economic theory and apply quantitative techniques to understand behaviour.
The Department runs a number of undergraduate Economics degrees and is ranked 5th for Career after 6 months in The Guardian University Guide 2020. Students on the Economics BSc (Hons), Economics and Politics BSC (Hons) or Economics and Mathematics BSc (Hons) degree programmes can choose from either a four year-programme, including a combined placement and study year abroad, four years with either placement year or study abroad, or a three-year programme.
For postgraduate students, there are a range of master’s degrees from MSc Economics to MSc Applied Psychology and Economic Behaviour. For 2020 entry a brand new specialist course, MSc Economics for Business and Intelligence Systems, will be launched shortly, enabling you to develop sought-after skills in quantitative economics and business.
Keep an eye out on the Department of Economics page, for updates on all Economics postgraduate taught courses.
STOCKHOLM SCHOOL OF ECONOMICS – SWEDEN
One of Europe’s leading business schools, Stockholm School of Economics offers cutting-edge, industry-relevant economics programmes.
At the undergraduate level, the school offers two three-year programmes, both taught in English. The Bachelor in Business and Economics provides students with a foundation for career in business and entrepreneurship in government and non-government organisations.
Students in this programme can partake in two Global Challenges courses where they learn how to tackle some of today’s most pressing challenges, as well as a Student Exchange programme so they can develop a global mindset.
The Bachelor in Retail Management is a specialised programme where general economics education is tailored to include retail-specific content.
During the third year, students undertake a company project within the Applied Retail Track, as well as a Bachelor thesis.
The Applied Retail Track gives students perspective into the different career opportunities available to them in the retail industry, as well as the opportunity to develop a network in this field.
Many graduates go on to become brand managers, key account managers, entrepreneurs, project managers, PR consultants, marketing researchers, marketing managers, controllers, and management consultants.
DEPARTMENT OF ECONOMICS, UNIVERSITY OF TORONTO – CANADA
Ranking among the top economics departments worldwide, the economics programme here is one of the most popular among undergraduate students.
There are a range of different economics degree programmes offered here, including economics minor, major, specialist programmes and joint programmes.
One of the most popular programmes is the Specialist Programme in Commerce and Finance, offered alogside the Rotman School of Management.
The Economics Major is a flexible programme where students can tailor their study in line with their future professional goals, choosing from different electives at the 300 and 400-level.
The Economics Specialist is ideal for students planning to undertake graduate studies in Economics, with a more mathematical focus.
For all economics programmes, students are given a deeper understanding of the economy in a global context.
Electives include Industrial Organisation, International Economics, Game Theory, Labour, Money and Banking, Behavioural Economics, and Development, to better prepare students for the dynamic world of economics.
There is also the Economics Peer Mentorship Programme that connects incoming second year students with upper-year undergraduates so they can integrate into the community, learn more about the resources available to them, and receive guidance and advice in an informal context.
*Some of the institutions featured in this article are commercial partners of Study International
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