Work experience in economics necessitates formal education as well as the development of research and project management skills. Individuals can gain an understanding of how economies develop through internships and work experience in related fields such as business. Some private organizations may be able to assist students in finding internships that will help them advance their economics careers. Hiring managers prefer candidates with advanced degrees and experience developing and analyzing economic theories for government and university research positions.
Without at least a bachelor’s degree, obtaining economics work experience is extremely difficult. The majority of future economists hone their quantitative skills while still in college taking advanced math courses. While majoring in economics is a no-brainer, those who want to be economists should also consider business administration or certain types of mathematics. Obtaining a master’s or doctorate degree in a specific economic specialty can lead to more job opportunities, particularly in the private sector.
Internships are a popular and generally accessible way to gain economics work experience while pursuing a degree. Internships may be found through the career services office at a student’s school or at on-campus recruiting events. Companies that offer internships in business, market trading, and economics to undergraduate and graduate students might be of interest to someone. Professional organizations that help students match with competitive programs sponsored major companies are another way to find internships.
Depending on the country, gaining economics work experience through government agencies can be less competitive than the private sector. For entry-level assistant and research positions, fewer educational qualifications may be required. Obtaining positions in securities trading or marketing is another way to gain skills that will be useful in one’s development as a future economist. Workers in these positions gain an understanding of how an economy works and the factors that drive economic activity.
Developing knowledge in a specific discipline, such as microeconomic theory, is one way for a candidate to stand out when looking for economics work experience. This specialty or focus should most likely be decided during a student’s undergraduate studies and pursued further with a graduate degree. Graduate school can assist aspiring economists in developing the self-discipline, research, report analysis, and hypothesis testing skills that are required in many of these positions. Although a doctorate degree is usually required for tenured positions, teaching at the university level is an additional way to work in the field of economics.