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Hey I wish to know whether there are abroad opportunities in this field for work and studying. Also choosing economics is a lucrative option or not if one wishes to go abroad?
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The liberalization of the Indian economy particularlyof the financial sector widened the career opportunities for economics students. Economists use statistics, mathematical analysis and economic theory to conduct studies concerning issues such as unemployment , inflation , industrial productivity , farm policies and international trade. The various fields of economics are agricultural economics, financial economics, business economics, econometrics, developmental economics, labor economics, industrial economics & rural economics & rural development. The various career options for economist are :-Banking & Finance
Govt& Public Sector
Dear friend, thank you for asking this question through CareerGuide.com The subject economic has great scope in India and abroad. There are many career options available for an economist both in governmental sector as well as in private companies.Basically an economist use economical concepts, theories and analytical techniques to provide advice and practical information that will aid managerial level planning and decision making tasks.Economists are employed by local and central government economic Consultancy, major companies, banking sector, financial institutions, utilities, higher education establishments and investment organizations.The nature of job an economist is;providing economic advice and recommendationsmonitoring and forecasting Indian and foreign economic performancemake presentations related to economical aspects pertaining to a particular sectoranalyzing and interpreting complicated numerical and financial informationundertaking relvelant research and writing reportsThe career options depends upon :1.the academic qualifications2.The subject specialization3.Number of years of experience5.Place of work (governmental or private sector)6.Additional qualifications (required mainly in academic sector)The academic qualifications is very important, since you are having post graduate degree in economics, technically your eligible to get job in governmental and private sector. But a person holding a doctoral degree will have an edge over you. This is all due to severe competitions and the academic performance index (API) specially in government (academic) jobs.The subject specialization is also very important, for exampleMacro economicsMicro economics,Which are further has many streams, such asAgricultural and natural resource economics,Behavioral economicsBioeconomicsComputational economicsConsumer economicsdevelopment economicsDevelopmental economicsEconometricsExperimental economicsFinancial economicsGreen economicsBasically there are three types of economists:Business economistGovernmental economistAcademic economistThe business economist work in manufacturing, mining, transportation, communications, banking, insurance, retailing, investment and other types of organizations. They also work in trade associations and consulting organizations.The government economists work in central, state and local governmental departments. They serve in wide variety of positions and involving analysis and policy making.The academic economists are employed in colleges, universities and research institutions. Here they are employed as lecturer, assistant professor, assistant scientist. They are involved in teaching and research and guiding master degree and doctoral degree students. In government as well as in private organization, the economist also work as (in India and abroad)Financial adviser,Loan Manager, officersFinancial analystFinancial examinersEconomist
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