Economics explained: why you should study it and your career prospectsWatch
An economics degree gives you a high level of mathematical and statistical skills and the ability to apply economic principles and models to problems in business, finance and the public sector. More broadly, economic concepts can be applied to understand the logic of complicated data, to see how things relate to each other, and to see the broader context. In terms of new employment areas, economists would be well prepared for roles in ‘Big Data’. This is a new field and is about analysing large volumes of data to identify patterns, and so help businesses or governments make better decisions. This could be, for example, in relation to customer behaviour, the spread of diseases, crime patterns, or trends in financial markets.
There is no doubt that to be a great economist, one has to be able to master the methods used in the profession, and have good maths and statistical skills to do this. You also need to be interested in the world around you from history, to politics, to international affairs and consumer behaviour in your country and worldwide, as these all impact on how individuals, companies and governments behave and make decisions.
If you have any questions, please ask as I am here to help you out
Thank you for ur post I'm currently thinking of applying for Food Marketing and Business Economics at Reading University and I love ur post.I can choose option with placement and defra sounds very good for my course (of my uni have placements with them).Can you tell me more about what Business Economics does?(obviously something with business-es). and what do u think about Food Marketing? Big Thx
My advice is whether you’re looking for a year-long industrial placement or a summer placement, you’ll need to start applying early. There are lots of students looking for placements and it’s a dogfight to land yourself one. You should approach your placement applications as if you’re applying for a graduate job. It’s worth spending more time on fewer applications and tailoring them to individual companies, rather than churning out generic applications for hundreds of placements. Finally, when your placement starts, attend as many events as possible, whether that is a social event with your team after work hours or a talk on how to improve your CV. All these events are beneficial and can both broaden your network and improve your work profile.
I think this will be useful for you if you are considering a placement in the Government Economic service:
Business economics: You’ll study core business and management topics as well as specialist modules that will develop your understanding of the working realities of retail management and operations. You’ll learn to apply and evaluate the techniques and frameworks of successful retailing, developing commercially viable solutions that you’ll present back to business leaders, while working on live business issues.
Food marketing: I know food marketing takes many forms and can involve building relationships with customers, raising brand awareness, developing new products, promoting them through advertising, and even paying grocery stores for prominent shelf space, all with the goal of promoting sales, but I don't know much more about it sorry ...
I hope this has helped,