Career Paths for Candidates with a Masters in Economics
If you’ve recently completed a master’s in economics, there are hundreds of job opportunities at your disposal.
Graduating with a master’s degree can set you apart from other candidates, and help you find your dream role.
If you’re an upcoming college student who will be taking up AP Macroeconomics then be better prepared and check for the right resources and guidance.
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If you’re unsure of what profession to go into, here are five career paths for candidates with a master’s in economics.
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Professor
Many students who embark on a master’s degree in economics decide to go into teaching to share their expertise and knowledge with future generations.
An economics professor conducts research and publishes scholarly books and papers, while also working with students to improve their skillset and knowledge of the economics field.
Topics that you will teach include macroeconomics and microeconomics, alongside specializations like labor, finance, and international economics.
If you’re interested in becoming an economics professor, there are some colleges and technical schools that may only require a master’s degree in economics.
However, to open even more doors, you may want to consider going back into education.
If you’re wondering Why Get a Second Master’s Degree in Economics?
The skills and attributes you gain will boost career prospects and increase salary potential.
Economist
An economist is responsible for conducting research, collecting, and analyzing data, monitoring economic trends, as well as developing forecasts.
There are a variety of topics that you may choose to focus your research on, such as imports, inflation, or energy costs.
Alongside a master’s in economics, you must have excellent analytical skills, critical thinking skills, and communication skills to succeed in this role.
Policy Analyst
The role of a policy analyst is to try and change, alter or execute new public policies, laws, and regulations.
Policy analysts usually work in government positions or for private organizations.
Some of the key duties of a policy analyst include examining and amending policy drafts, as well as suggesting proposals to enhance the effectiveness of existing policies.
To qualify as a policy analyst, you must hold a master’s degree at the minimum, with some roles requiring you to possess a Ph.D.
Budget Analyst
Budget analysts work alongside program and project managers to create and develop the company’s budget.
Other duties include reviewing manager’s budget proposals, monitoring business organizational spending to make sure that it’s within budget, as well as helping organizations allocate their financial resources.
Written communication skills, proficiency in math and judgment, and decision-making skills are mandatory attributes needed to work as a budget analyst.
Masters in Economics: Data Scientist
A data scientist works closely with company stakeholders to identify their objectives and goals and establish how their data can be used to reach those goals.
Data analysts create algorithm design data modeling processes and analyze data which is shared with peers.
If a data scientist position sounds right for you, there are several skills that will increase your chances of getting hired, such as programming skills, machine learning, and data wrangling.
All the professions listed above require a master’s degree in economics, so whether you’ve recently completed your degree, or you’re thinking about undertaking a master’s, the career prospects in the economics sector are endless.
