Gaining professional experience in economics requires formal education, research and project management skills. Internships and work experience in related fields can help, as can obtaining advanced degrees and developing expertise in a specific discipline.
Gaining professional experience in economics requires formal education and the development of research and project management skills. Internships and work experience in related fields, such as business, can help people understand how economies develop. Some private organizations can help place students on internships that will help them continue their career in economics. For government and university research positions, hiring managers tend to prefer candidates with advanced degrees and experience developing and analyzing economic theories.
It is very difficult to gain professional experience in economics without completing at least a bachelor’s degree. Most future economists develop their quantitative skills by taking advanced-level math courses while in college. While it’s obvious to choose economics as a major, those who aspire to work as economists can also study business administration or certain types of mathematics. Obtaining a master’s or doctoral degree in a specific economic specialty opens up additional job opportunities, especially in the private sector.
A popular and generally affordable way to gain work experience in economics while earning a degree is through an internship. Students can locate suitable internships at their school’s Career Services office or during on-campus recruiting events. A person may find it beneficial to research companies that offer internships in business, market trading and economics to undergraduate and graduate students. Another way to find internships is through professional organizations that help match students with competitive programs sponsored by large companies.
Obtaining professional experience in economics through government agencies can be less competitive than the private sector, depending on the country. Less educational qualifications may be required for entry-level positions in assistant and research positions. Another way to acquire skills that are valuable for an individual’s development as a future economist is to obtain positions in trading or securities markets. These positions familiarize workers with the way an economy operates and the drivers of economic activity.
One of the ways a candidate can distinguish themselves when looking for work experience in economics is to develop expertise in a specific discipline, such as microeconomic theory. That specialty or focus should likely be determined during a student’s undergraduate studies and continued with an advanced degree. Graduate studies can help prepare aspiring economists for the self-discipline, research, analysis of reports, and testing of hypotheses that many of these positions require. Teaching at the university level is an additional way of working in the field of economics, although a doctorate is generally required for tenured positions.
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