To become a business economist, attend school for undergraduate and graduate degrees in business and economics. A master’s or doctoral degree is advisable for high marketability. Graduates can work in various sectors, including academia, government, and international organizations.
The way to become a business economist is to attend school, both undergraduate and graduate, to learn how to apply economics concepts to the operation and management of workplaces, from small businesses and non-profit institutions to large corporations and government agencies. Business economists are concerned with the supply of goods and services as well as their production. The synthesis of the two disciplines is what requires a business economist to be formally trained.
Academic programs to become a business economist are usually a collaboration between schools or departments of business and economics at a four-year college or university. If you’re okay with an entry-level position in business economics, a bachelor’s degree in business economics will suffice. In degree programs, students take courses in subjects such as banking, statistics, econometrics, economic growth and development, business forecasting, and the global economy. More philosophical courses are also part of the programme, with economics of law and history of economic thought as prime examples.
To become a high marketable business economist, however, it is advisable to pursue a master’s or doctoral degree in business economics. Employers are particularly attracted to candidates who have achieved a postgraduate level because the degree obtained usually includes a specialization. For example, at Harvard University in the US, Ph.D. students can choose from concentrations such as business strategy and industrial organization, capital markets and financial institutions, corporate finance, corporate governance, and international business. In addition, a master’s or doctoral degree. indicates a higher level of education in the field of business economics.
With the Ph.D. in particular, students are trained to become leading thinkers and scholars in business economics. They may also seek tenure as full-time professors at four-year colleges and universities. Master’s degree holders can teach at community colleges or technical schools.
Upon graduation, some aspiring business economists may choose to pursue related occupations, such as stock or bond trading, to gain experience first. Within these fields, graduates can apply what they have learned in an academic setting, such as analyzing data, conducting research and market forecasting. Such work can be advantageous for gaining entry into the field of business economics.
Becoming a business economist means gaining access to a variety of labor sectors, not just government, business or academia. Business economists can also be found in the writing/editing and technical consulting fields. Additionally, business economists work for international organizations such as the World Bank and the United Nations.
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