Career after Doing MA in Economics

MA in Economics

Career after Doing MA in Economics

MA in Economics is one of the best subjects to make a career. Most of the candidates who pursue economics for building up their careers have diverse opportunities. Economics is a subject that requires immense research work and a very good knowledge of the subject to pursue any career in this field.

No doubt! Economics is a highly in-demand subject. This subject remains in demand because of its complexity, research work, etc. because very few people understand the concept of this subject and manage to become successful.

What is Economics?

Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how the nations, governments, organizations, businesses, and individuals make their preferences about how to allocate their resources.

Basically, economics deals with human behavior against power and socio-economic conditions.

Economics has 2 branches of Economics is divided into 2 aspects:-

  • Microeconomics
  • Macroeconomics

Microeconomics – It focuses on individual business & people. It deals with the behavior of individual customers and producers.

Macroeconomics – It considers the economy as a whole. It deals with the behavior of overall economies on a regional, national, or international scale.

Career after Doing MA in Economics

There are various options for those who complete their MA in Economics. If you do your graduation in economics, then doing an MA in Economics will definitely help you take up good career options. Listed below are the following employment opportunities after completing an MA in Economics.

  1. Economist
  2. Economics Teacher or Professor
  3. Consultant
  4. Financial Analyst
  5. Actuary
  6. Data Scientist
  7. Market Research Analyst
  8. Credit Analyst

Economist – Economists study the demand & supply of goods and services in an economy. They can work with government authorities or private companies. Their work is to do research on the given topic, gather data on the given topic, and analyze data. 

Economics Teacher or Professor – You can become a school teacher after completing an MA in Economics. You are eligible to teach primary and higher classes. However, for becoming a teacher, it is compulsory to have a B.Ed. degree.

Consultant – Once you have completed your post-graduation in economics, you can work as a consultant. The main work of consultants is to provide expert advice on economic-related matters such as financial services, labor, market analysis, telecommunications, etc.

Financial Analyst – You can also become a Financial Analyst after completing your post-graduation in economics. Their main work is to see how these policies or new regulations may affect investment and gather information about how trends affect a particular product.

Actuary – The main work of an actuary is to analyze the financial costs of risk and uncertainty. They use various tools and measures to assess companies’ risks. They also offer solutions to the problems or risks.

Data Scientist – Their work is to deal with huge data. They

Combines mathematics, computer science, and statistics to analyze, process, and model data. Then they interpret the data to create plans for other organizations and companies.

Market Research Analyst – The main work of a market research analyst is to apply their knowledge of economics and analytical and statistical skills to find solutions that are data-driven to real business problems. The main aim of a Market Research Analyst is to boost an organization’s or company’s profits by leveraging the data at hand.

Credit Analyst – Basically a credit analyst is a finance expert. They assess the creditworthiness of organizations’ assets & liabilities. Their main work is to determine whether the company or individual is in the position to make repayments by reviewing the borrower’s financial health and economic conditions are favorable. They are also the ones who determine the level of default risk.

Editor – Business, Finance, and Economics – They are the ones who write articles or a story related to the economics subject. Editors can be offered to work in any field of work content such as content in newspapers, magazines, books, and blogs.

Salary Package – Economics is a very vast field to work infilled with immense opportunities. The basic average salary ranges from Rs.5 lakh per annum to Rs.9 lakh per annum. However, with the increase in experience, the salary package also increases.

If you are further interested in knowing more about this topic and want to seek some expert help, Contact:-

Sunanda Rao, Career Counselor