Career Possibilities With an Economics Degree Online

If you've ever been interested in how the economy works, supply and demand, or the international trade market, then you will probably enjoy a career in economics. Without having to sacrifice your job or family time, you could earn your economics degree online in many areas. Online education offers an innovative and flexible way of earning an economics degree online, while still giving you a quality education. The Bureau of Labor Statistics points out that people with higher degrees in economics and with related degrees such as business will probably have the best job prospects in the next 10 years.

An economist is someone who understands how markets work, can predict fluctuations, collect and analyze data and apply them to different sectors of society, such as health or education. It is generally acknowledged that a higher degree in economics, say a masters or PhD, is generally preferred in the private industry. Those with a bachelor degree can expect entry-level jobs in government-owned sectors. Most times, people with a bachelor degree still attend school for a more advanced degree in order to climb into the management positions.

Different Specialty Careers Include:

Microeconomists

Microeconomists are the people who study the supply and demand side of the economy from a household level. The study and understanding of these factors will determine the prices of goods and services. Not only that, microeconomists also look at the delicate allocation of important resources amongst a population and how it will in turn affect the economy.

Industrial economists

An industrial economist concentrates on one industry, whether it be automobile, energy or something like lumber. They take into account many factors in their projection reports, such as competitors and how the best utilize any diminishing resource. They are knowledgeable about policies and laws that affect their particular industry as well.

Financial economists

The name itself is an indicator to what these men and women do. A financial economist is dedicated to studying and understanding money and its effect on banks, lenders and other financial institutions. Their research can help determine how much money is made and dispersed relative to many different factors, such as risk and time.

International economists

International economists closely monitor the value of their dollar in comparison to other currencies. They pay close attention to pending policies, old policies, tariff laws, and changing political climates which in turn affect the exchange rates. These men and women are well versed overall, but might have a particular specialty or industry, and work closely as a team to give a full financial report. International travel and/or employment is common for this career.

Labor and demographic economists

A labor economist mainly studies the constant fluctuation of the labor force. They evaluate many factors, such as demographics, education level, market demand and the corresponding high or lows in unemployment. A demographic economist is someone who studies the different race and ethnicity categories within a society. They survey and compile important data about education levels, employment, discrimination and other data.

In most all cases, a higher economics degree online is needed to advance into management positions. Many economists find teaching jobs after spending years in the field, but employment is contingent on a master's or PhD degree. Entry-level jobs can be gained with a bachelor degree, which lends itself perfectly for those that want to gain experience and get an advanced economics degree online. Work experience probably rates just as high as education level. Without having to take time off to go back to school for a higher economics degree, online students get the advantage.

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