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3 Different Career Options Within the World of Economics

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The field of economics is one that encompasses a wide range of jobs and opportunities. Jobs that contribute to understanding, predicting, and utilizing economic principles and trends is something that practically every industry seeks to accomplish. Therefore, to say that you want to have a career in economics is a very general use of the word.

The fact of the matter is that economics presents a great variety of job opportunities. If you would like to consider a career in economics, you should choose a path that takes advantage of any other skills or areas of interest that you might have. Here are three very different career options within the world of economics that can give you a better idea of where you might fit within the industry.

1. Applied Economics

The area of economics that is referred to as applied economics would be an excellent pursuit for anyone with a data science-driven mind. Often used in business planning and in the analysis of public policy, applied economics uses big data to try to find solutions for real-world problems. The main goal of those who work in applied economics is to produce more positive real-world outcomes using the information gained through the analysis of historical data and research.

To successfully pursue a career in applied economics, you will want to have an undergraduate degree in either computer science, economics, or another related subject area. Your best chances of success in this field will come with the addition of a master’s degree to your résumé. You can look into programs designed to allow you to earn your degree online, like the ones offered at https://appliedeconomics.bc.edu/.

2. Financial Analyst

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If your interest in the world of economics has more to do with the financial aspect of things, then a career as a financial analyst might be more up your alley. A financial analyst works within the financial services industry as an interpreter of sorts for the purposes of financial planning. Through the use of research and data, your job would be to make recommendations to a business about how to proceed based on your findings. 

This is an incredibly competitive field in the world of finance. Your understanding of how to analyze data and make accurate forecasts will be a deciding factor in how successful you can be at such a career. You will also need to possess an understanding of the specific area of business that you hope to work in.

3. International Trade Specialist

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One career in economics that would be a good option for anyone looking to work on a global scale is that of the international trade specialist. These are professionals who work to complete the necessary financial and tax-related tasks for the importing and exporting of goods and services. Knowledge of the global economy and various aspects of international trade regulations is a must. The ability to understand and work with those from other nations is also a skill that you will need to possess for this job.

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