Economics is a social science that tackles the theories behind market processes and enterprise. It proceeds to find out the creation process of wealth and also how it is distributed among the masses. Activities such as manufacturing, distribution and consumption of products and services are analyzed in economics. This science is highly valuable today. Not only does it expose students to the workings of the free market, but it also gives them a career path that they can follow so as to become functional members of the society. Here are some of the careers available in the field of economics.
Careers in economics
- A financial risk analyst
- An actuarial analyst
- A chartered accountant
A financial risk analyst
One of the careers that you can pursue in the field of economics is to be a financial risk analyst. This is a professional who pinpoints and analyzes the risks that could affect the assets, success or earning potential of companies or organizations. They can work in the commercial, public or industrial sector. This professional is responsible for forecasting changes and trends in the industry. They also figure out how to reduce costs and maximize profit for a company.
An actuarial analyst
In this career, you can analyze risk by using statistical formulae. An actuarial analyst performs calculations that assist insurance companies to determine the right amount of premium to charge. A firm grasp of economics is required for this career. This is because you can be an analyst in the fields of finance, insurance or employee benefits.
A chartered accountant
This is one of the most popular career paths that are pursued by people with a firm grasp of economics. Chartered accountants provide financial advice, analyse accounts and also report on financial records. They rely on a variety of economics concepts so as to accomplish this.
By relying on economic theories and applying their knowledge, economists provide us with reliable advice about the economy. They have a firm grasp of all the relationships that occur in an economic environment. As such, they are able to identify trends in the economy and money markets. In addition to that, they contribute their expertise in the formulation of social policies, health guidelines, transport projects and taxation regulations.
Seeing as the field of economics is wide and detailed, it is divided into two main branches. This is done so as to assist students to grasp the concepts involved in this social science. Assignments are also issued to help them retain the content they learn. For this, students often seek economics assignment help. Read on to learn more.
The branches of economics
Students learn two main branches of economics. They are:
- Microeonomics: This branch of economics deals with the buying patterns and preferences of individuals and small units such as families. External factors affecting these patterns are also analyzed. Examples of these factors are taxes, regulations, supply and demand.
- Macroeconomics: This branch covers the economy of a community, society or even a nation. In macroeconomics, the factors that affect the overall wealth of a country are studied. Also, measurements such as the Gross National Product (GDP) are generated.
There are many other sub-categories and concepts under these main branches. Students of business and enterprise courses are expected to have a firm grasp of them all. To accomplish this, their instructors often issue assignments. It is important to excel in these tasks. Therefore, students seek help from teachers, lecturers, colleagues and specialized websites so as to complete these assignments in an excellent manner.
Sarandon Cooper is an economics student. She is in her third year of study. One of the tasks that she deals with on a daily basis is economics assignments. For this, she seeks Economics assignment help. By applying the knowledge that she gets from this help, Cooper is able to excel in her classes and has the potential to build a successful career in economics.