Training future economists to succeed in competitive business markets

04 Dec 2019

Economics is a rewarding choice for a study programme, not only paying off salary-wise, but also teaching transferable skills such as critical and analytical thinking.

These skills are versatile and can be employed in a wide range of careers – they are also highly valued by employers.

The education and skills acquired through an economics degree qualifies graduates for jobs such as investment analyst, statistician, economist, data analyst, stockbroker, and more.

The growing complexity of the global economy and competitive business market today also means that those with an economics education are highly in demand, and will continue to be in the near future.

An economics education lays a good foundation for those looking for dynamic careers in this fast-growing field.

According to Career Planner, “Employment of economists is projected to grow 6 percent from 2016 to 2026, about as fast as the average for all occupations.

“Businesses and organisations across many industries use economic analysis and quantitative methods to analyse and forecast business, sales, and other economic trends.”

To prepare students for work in this domain, universities that offer economics degrees must be sure to provide them with plenty of experiential learning opportunities so they can develop the skills needed to succeed in the industry.

It’s also important for them to offer students plenty of real-world working scenarios, as economists are increasingly needed to find solutions to pressing economic and social issues.

By exposing them to hands-on experience, students build an innovative mindset and learn how to tackle these issues.

Here are four European universities that offer a modern economic education and grant students the ideal launchpad for their future careers in economics.

TOULOUSE SCHOOL OF ECONOMICS (TSE) – FRANCE

Located in France, this school is part of the Federal University of Toulouse Midi-Pyrénées, offering undergraduate, graduate and postgraduate degrees with a core focus in economics.

Ranked among the top ten economics research centres in the world, TSE research centre is also, due to its close ties with public and private decision makers, developing an academic research agenda to solve challenges faced by today’s companies and institutions. Research-oriented courses train students to master and adapt recent theories and techniques to solve real-world challenges of their future employers and find innovative economic solutions.

Students also develop vital knowledge in economics, particularly in mathematical modelling, that helps them develop rigorous reasoning in complex situations, along with statistical and quantitative methods to help them assess the impact of strategy changes or policy reforms. Multidisciplinary courses allow them to have a better grasp of the multidimensional environment of economic decisions in a scientific approach. They resort to data and quantitative techniques to analyse decision-making in firms, institutions or states.

Moreover, students are offered many opportunities to prepare their entry into professional life, such as regular talks with practitioners, an annual job fair (Business Networking Day), one-to-one coaching sessions, overseas internships and gap year placements. On top of this, students gain access to a wide network of industry partners, along with a professional careers service that collects high-level international job opportunities.

BARCELONA GRADUATE SCHOOL OF ECONOMICS – SPAIN

At this School in Barcelona, programmes are informed by advice from the Scientific Council, based on a group of 30 renowned academics – including 11 Nobel Laureates – to offer an industry-relevant education.

This school prepares students to become leading economists through specialised Master’s degrees. For example, the Master’s Degree in Specialised Economic Analysis has four tracks: Competition and Market Regulation, Economics of Public Policy, International Trade, Finance, and Development and Macroeconomic Policy and Financial Markets.

There’s also a broad-based Master’s Degree in Economics that provides rigorous training in the field, so students acquire a deep understanding of the foundations applications, and policies of economics.

Here, students receive specialised training in a number of areas so they can delve further into their areas of interest.

These areas include: macroeconomics with a focus on monetary and fiscal policy; microeconomics; political economy; labour and public economics; international economics; development economics; business and market organisation; behavioural and experimental economics; and financial economics.

DEPARTMENT OF ECONOMICS, UNIVERSITY OF WARWICK – UK

The Department of Economics consistently ranks well in league tables both nationally and globally, largely due to its strong position in leading economics research and academics.

Teaching here is research-led, taught by expert faculty who deliver an innovative and engaging economics education, so students are prepared to solve real-world challenges.

Distinctive graduate programmes are offered here so students receive a focused education in all the different aspects of economics.

The MSc in Economics programme offers a combination of core studies and specialist units, delivering a professional education in modern economics, providing students with in-depth knowledge in macroeconomic and microeconomic theory, econometrics and research methods.

There’s also the MSc in Economics and International Financial Economics, where students gain a thorough understanding in advanced areas. They can also further specialise in international financial economics.

The innovative MSc Behavioural and Economic Science course offers a multidisciplinary approach into a growing area of economics, with combined expertise from the Department of Psychology, Department of Economics and Warwick Business School.

DEPARTMENT OF ECONOMICS AND BUSINESS ECONOMICS, AARHUS UNIVERSITY – DENMARK

At this university, economics research is carried out in the fields of microeconomics, macroeconomics, econometrics, finance and accounting, and operations research, offering a wide range of economics and business economics programmes at undergraduate and graduate levels.

By communicating with the business community, political decision-makers and society in general, the department ensures that students receive a cutting-edge education in international economics.

The Bachelor of Science in Economics and Management programme delivers management courses in collaboration with the Department of Management, so students can further specialise in their respective areas of interest.