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Overview of Economics
Economists perform research and analysis on trends to predict future outcomes. Economics jobs usually focus on feeding data about future economic situations into models in order to read the results.
This role is important both in government and in industry, in order to forecast what results will come from certain decisions. Economists can help solve real world problems like poverty, inflation, unemployment and inequality.
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Studying Economics
Those who study economics can choose to study either a diploma at TAFE, or a bachelors degree at university. Students at university can study a Bachelor of Business with a major in economics, or focus more specifically with a straight Bachelor of Economics.
Within an economics degree, students learn a broad range of economic theory.
A bachelor of economics is typically between three and four years in duration at university. An economics graduate can go on to study for a Masters of Economics and undertake a PhD in the subject.
Careers in Economics
An economics career can be pursued in both the private and public sectors. Economics jobs focus on environmental issues, financial markets, resource management and even agriculture, to name a few.
There are job opportunities internationally in economics, as economic theory applies to situations around the world.
According to the Good Universities Guide to Australian Universities, 2004, the salary of economists increases more quickly in the first five years after graduating university than most other occupations.
Skills needed in Economics
To work in economics, a sound understanding of mathematics and statistics is vital. Similarly, having a logical and analytical perspective is important when thinking critically about economic issues.
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