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Economics

Page Index: Economics


Academic Information: -  top


What is Economics?  - top

"Economics is the art of trying to satisfy infinite needs with limited resources." Albert Camus

Economics is the study of how effectively society meets its human and material needs. It provides a logical, ordered way of looking a various problems. It draws upon history, philosophy, and mathematics to deal with subjects ranging from how an individual household or business can make sound decisions, to societal issues such as unemployment, inflation, and environmental decay.


Career Information  -  top


Possible Job Titles  -  top

Banking/Finance

  • Commodities broker
  • Bank management trainee
  • Financial analyst
  • Economic forecaster*
  • Trust administrator
  • Credit analyst
  • Loan counselor
  • Securities analyst
  • Investment banker

Business

  • Market research analyst
  • Sales representative
  • Staff training and development specialist
  • Public relations media planner
  • Real estate agent
  • Retail buyer
  • Insurance underwriting trainee
  • Actuarial assistant
  • Advertising copywriter
  • Management consultant
  • Strategic planner
  • Actuary
  • Business administrator*
  • Cost estimator

Others:

Actuary
Demographer
Institutional Research Director
Auditor
Economist
Insurance Salesperson
Bank Officer
Efficiency Expert
Intelligence Agent
Bond Trader
Entrepreneur
International Trade Specialist
Business Forecaster
Estate Planner
Journalist
Business Manager
Financial Economist
Labor Economist
Chamber of Commerce Analyst
Financial Officer
Labor Relations Specialist
Commodities Trader

Government/Public Sector

  • Claims examiner, Social Security
  • Administration
  • Foreign trade analyst
  • Tax auditor
  • Housing development aide
  • Budget Office assistant
  • Legislative assistant
  • Lobbyist
  • Regional/urban planner*
  • Financial planner
  • Lawyer*
  • Research assistant
  • Compensation analyst
  • Demographer
  • Public administrator

Education/Communication

  • Professor*
  • Technical writer
  • Journalist/columnist
  • Teacher*
  • Higher education administration*
  • Educational television advisor
  • Information analyst*

Others:

Litigation Analyst
Compensation/Benefits Admin
Government Administrator
Management Consultant/Analyst
Consultant
Healthcare Administrator
Market Research Analyst
Consumer Affairs Director
Hospitality Manager
Politician
Consumer Goods Rep
Industrial Economist
Populations Studies Analyst
Cost Analyst
Industrial Transportation
Property Manager
Financial Planner/Analyst
Lawyer
Commodity-Industry Analyst
Financial Reporter

*Denotes need for additional education

ACTUARY

Assembles and analyzes statistics, calculates risk probabilities, and determines premium rates for policies and pension plans within the three basic areas of insurance: life, health, and property and casualty. Works for insurance companies and their regulators.

BANK RESEARCH ANALYST

Researches, analyzes, and assesses prospective banking projects. Typically works for the bank involved.

COMPENSATION/BENEFITS COORDINATOR

Assists Compensation/Benefits Analyst in examining compensation packages, including wages, salaries, and benefits, and in comparing them with those in the same field to
determine competitiveness and fairness. Employers in many diverse fields, including compensation consulting firms.

FINANCIAL ANALYST

Assesses the feasibility and profitability of specific financial operations, programs, and transactions. Works for corporations, government agencies, investment banks, and
brokerage firms. Usually requires relevant coursework.

FINANCIAL RESEARCHER

Compiles statistical reviews and forecasts. Maintains and reviews financial literature and records regarding departments, industries, and possible transactions. Works for corporations, financial institutions. Usually requires relevant coursework.

INVESTMENT BANKING ANALYST TRAINEE

Completes basic research required for investment banking transactions between institutions with long-term capital needs and major investors. Researches both broad industries and the specific financial status of particular institutions, prepares documents and reports for staff and clients.

LABOR RELATIONS RESEARCHER

Assists labor relations specialists with detailed research required for contract negotiations. Prepares advisory reports on union-management agreements. Works for unions,
unionized employers, and government arbitrators.

LOBBYING RESEARCHER

Identifies information that can be used to support the positions and the efforts of lobbyists. Involves library research, attendance at conferences and committee meetings, and
writing of reports. Employers include a diversity of special and public interest groups as well as professional lobbyists.

REAL ESTATE DEVELOPMENT RESEARCHER

Explores the real estate needs of particular communities, gathers information about available parcels of land, and explores the market feasibility of proposed projects. Works
for real estate developers.

UNDERWRITER TRAINEE

Assists in determining whether an insurance company will take on a particular risk. Analyzes actuarial studies and other pertinent information, prices policies in an attempt to balance risk and the need for profit, and answers inquiries from agents and clients. Works for insurance companies and reinsurance companies (which underwrite other insurance companies in cases of very high risk).

URBAN PLANNING RESEARCH ASSISTANT

Under the supervision of a city or regional planner, conducts research into the economic, environmental, and social consequences of development in order to support strategies
for appropriate growth and renovation of rural, suburban, or urban areas. Typically works for a government agency. May work for a consulting or architectural firm.


Typical Places of Employment  -  top

  • Advertising dept. and firms
  • Government Agencies
  • Banks
  • Consumer Affairs Office
  • Business corporations
  • Energy Department
  • Chambers of Commerce
  • Federal Trade Commission
  • Civic & taxpayer associations
  • Housing & urban Dev.
  • Colleges & Universities
  • Labor Department
  • Consulting firms
  • Social Security Admin.
  • Consumer organizations
  • Magazines, newspapers
  • Educational institutions
  • Labor unions
  • Employment agencies
  • Personnel departments
  • Financial institutions
  • Political action groups
  • Industries
  • Research & dev. firms
  • Insurance companies
  • Trade associations
  • Investment firms
  • Utility companies
  • Market research depts. and firms

Required Skills and Abilities -  top

  • Performing ambiguous or abstract tasks
  • Conducting research and analysis
  • Process, evaluate and communicate information
  • Collecting and organizing data
  • Formulating general investment strategy
  • Active Listening
  • Mathematics & science
  • Critical thinking
  • Different learning strategies
  • Researching trends in economic activity
  • Problem solving
  • Working independently
  • Applying basic analytical techniques and theory to new situations and problems
  • Ability to give advice on business
  • Research skills
  • Investigative skills
  • Oral & Written communication
  • Computer literacy
  • Active learning
  • Ability to prepare & write reports

Alumni Resources  -  top

(Listed below are examples of SU Alumni and their Jobs in this major-For more alumni resources, go to Mentor Network)

-Scott Dean - Crownsville MD 21032 -Wells Fargo- Senior Vice President - Risk Management Group
-Jacob Eddy - Charlotte NC 28277 - Hewitt Financial Services - Investment Broker/Financial Consultant
-Amber Jacobs - Deale MD 20751 - National Investment Center for the Seniors Housing Subscription - Services Manager
-Ryan Maluski - Towson MD 21204 - PNC Bank - Investment Assistant
-Raphael Mazzone - Takoma Park MD 20912 - National Archives & Records Administration- Electronic Records Archivist
-Zach Richards - Falls Church VA 22042 - Joint Committee on Taxation, U.S. Congress - Economist
-Chris Wolske - Gaithersburg MD 20877 - Deloitte Consulting - Specialist Master


Related Links: Further Explore this Career Field - top

Professional Associations:

Prudential Financial

American Economic Association

American Agricultural Economic Association

The American Real Estate and Urban Economics Association

Southern Agricultural Economics Association

Economic History Association

National Association of Economic Educators

Association for Evolutionary Economics

National Association for County Community and Economic Development

National Association for Business Economics

Association of Southeast Asian Nations

National Congress for Community Economic Development

Asian American Economic Development Enterprise

(See also Business links below)

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