What is economics? Which career can a student opt if he studies economics?

Economics in simple terms is a discipline that deals with the production, distribution, exchange, and consumption of goods and services which happen in a circular flow in a country. Economics is broadly divided into micro economics and macro economics. While the former deals with individuals firms, consumers and production units and the latter deals with aspects of GDP and National Economy.

After studying Economics, there are a plethora of career options which the student can pursue. It includes the following:

Analyst

The role of an Analyst in the company involves understanding any issues that the company is facing and what can be the possible solution to it. The Analyst plays an important role in evaluating the pros and cons of a new policy in the company based on the existing resources and documenting the requirements once the policy is implemented.

Company Secretary or Chartered Accountant

The role of a Company Secretary is to see whether a policy works in confirmation with the rules and regulations of the organization and proper execution of the decisions made by the board of directors. Company Secretary is a very good career option for the students of Economics considering the fact that they study functioning of an organization and its elements. Chartered Accountants play an extremely important role in the companies. They themselves work in different fields like audit, taxation, financial management, etc.

Social Entrepreneurship

Economics talks all about entrepreneurship and this is one dimension that younger generation can opt for.

NGOs are today becoming a very important component of the civil society. Economics graduates can excel in this career with their knowledge of economic theories and contemporary economic problems in India and around the world.

Banking

In this particular field, the graduate or post graduate of economics can appear for Probationary officers’ exams in nationalized banks. The probationary officers are expected to hold deep knowledge in different matters of economics and possess excellent communication skills. The students of economics can also appear for the exam for the post of Reserve Bank of India officer which is more difficult one to crack.

Sales or Marketing

The product has to reach the consumers and satisfy them in this competitive market. The career options related to this is marketing assistant, sales assistant, asst manager, etc. For being in this field, one must possess communication skills and more importantly understand the situation of a market to suggest the best ideas of profit maximization for products to be sold.

Human Resources

This is a stream where economics deals with people as the asset/ resources of the organization. The graduate of economics can enter this field if s/he is interested in maximizing the potential of employees in an organization and work on the verticals like training, development, motivation, etc.