The economics honors course provides a comprehensive study of economic fields like finance, microeconomics, macroeconomics, statistics, econometrics, and international economics. This course is usually for three years.
The course opens doors to numerous opportunities. Are you curious to know about all these opportunities? Read further!
Higher studies
Pursuing higher studies after an undergraduate degree in economics increases career opportunities. You must choose a graduate course that complements your undergraduate course best. To get in-depth knowledge of economics, become a professor of economics, and contribute to policy-making, one can pursue MA in Economics or MSc in economics. In case one aspires to make a career in management, marketing, and human resources, one can take MBA or PGDM.
There are various specializations available in MBA, a student must choose the domain that interests them most. A student can pursue LLB to become a lawyer. Students can take up Junior Research Fellowships to start their careers in the research sector. If you have a keen interest in teaching, you can pursue B.Ed. after graduation.
Data analyst
Data analysts generate insights from the data and interpret results to tackle specific problems. Data analysts are proficient in problem-solving and analytical skills. Data analysts are highly demanded in domains like finance, consulting, pharmaceuticals, education, government, and many others.
Several programming tools like excel, R, and tableau help analysts get the desired results from the data. Several top universities sell online courses to make you proficient with these skills. If you are good with numbers and analyzing them, you can kickstart your career with data analysis.
The average starting salary of a data analyst in India is about three lakhs per annum.
Policy making
Policymakers prepare policies for the betterment of an economy. Economic honors students have a deep understanding of how an economy functions. Most students choose economics courses at undergraduate and graduate levels to become better researchers and policymakers. Policymakers are endowed with excellent analytical and decision-making skills. Policymakers can get a job in various central and state government institutions. The average salary of a policymaker in India is around five lakhs per annum.
Actuary Scientist
An actuary scientist studies the financial impact and finds out the financial risks involved in sectors like insurance, banking, and enterprises. In actuarial science, students learn about risk management, wealth management, data analysis, economic risks, statistics, forecasting theory, insurance, etc. There is a high demand for actuarial scientists in the market. A fresh actuarial scientist can be paid up to ten lakhs per annum.
To become an actuary from the Institute of Actuaries of India (IAI), one has to clear the Actuarial Common Entrance Test (ACET). The exam is conducted twice a year by IAI. Several institutions sell courses online to help crack the exam, one can enroll in these courses.
After passing the entrance exam, your journey to becoming an actuary begins. One has to clear the Actuarial Science stages which are fifteen in total. Clearing five papers can fetch you a job as an actuary. You can clear all the stages at your own pace. Generally, it takes five to six years to become an actuary including all the exams and degrees.
Business Reporter
A business reporter tracks, records, and analyzes the business, financial, and economic news happening in society and presents it to the audience. The chief skills required to be a business reporter are research and communication skills. If one has excellent research, analytical, and communication skills and a keen interest in presenting business news, one can take it as a career after completing their economic honors degree. The average salary of a business reporter is about forty thousand per month.
There are numerous other opportunities for economics honors students like government jobs in prestigious institutions, economists, loan officers, statisticians, stockbrokers, external auditors, portfolio managers, corporate lawyers, management consultants, etc. A student can choose a profession that complements their interest best.
To sum up, economics honors courses offer a plethora of job opportunities. A student can pursue higher education to accelerate their career. You can seek entry-level jobs as an actuary, data analyst, business journalist, statistician, economist, financial risk analyst, corporate lawyer, stockbroker, policymaker, etc.
