Economics is the study of how goods and services are produced, distributed and consumed. Economists learn how the scarcity or abundance of resources in the market affects the buying and selling patterns of individuals and groups. Economics is split into a number of subdividsions, including macroeconomics, microeconomics and urban economics.
General Information About Economics Degree Programs
A bachelor's degree in economics will give students a basic understanding of economic principles and lay the groundwork towards a business degree or a graduate economics degree. These degrees in turn can lead to lucrative jobs in finance or can prepare an individual to be an economist, educator or market researcher.
Economics Degree Study Options
An Associate of Arts in Economics can be obtained in two years of study and will give students grounding in areas such as financial planning, economic analysis and budget development. This can be sufficient for certain entry-level positions with companies requiring a basic understanding of finance, but many students will want to pursue further education. A Bachelor of Arts in Economics can be earned live or online in about four years and further provides the student with useful market analysis skills as well as helping students decide on a focus of concentration within economics.
Advanced Economics Degrees
Students can pursue a master's degree in general economics or a master's degree in a more specific subdivision of economics. They may also choose to pursue a Masters of Business Administration. Any of these degrees will increase the student’s knowledge of the financial world and potentially increase their earning power as well. Students who wish to focus on research and teaching may move on to a doctoral degree in economics.
Master’s Degree In Economics
Students who choose a master's degree in general economics will participate in studying how resources are produced, distributed and conserved, particularly in conditions where those resources are at a premium. The curriculum will also expand on the basic understanding students have of economic theory and in some cases discuss new and alternative economic theories.
Masters Of Business Administration
Students with bachelor's degrees in economics and other related disciplines may choose to pursue a Masters of Business Administration. This degree can be earned in two years at a brick and mortar university or online in a distance learning program. The degree from an accredited institution prepares one for many positions in the financial world including stock market trader and financial analyst.
Choosing A Degree In Economics
The distribution of resources is an issue that always has been and will always remain relevant. Economics draws on mathematics, history and philosophy, so students with an aptitude for any of these disciplines should find something to like in economics.
Career Opportunities In Economics
Those with degrees in economics will have many choices when it comes to career path, especially those who choose to earn a degree beyond the undergraduate stage. Economics majors can become statisticians, actuaries, loan officers, stock market traders, financial analysts, social researchers, urban planners and even news correspondents as well as, naturally, economists.
Earning Potential For Economics Careers
The earning potential for someone with a degree in economics is dependent only upon where they let that degree take them. Those pursuing higher degrees who acquire the right experience can have nearly limitless options in the economic arena. The average economist, who monitors and forecasts the availability, price and mode of distribution of resources, tends to make a median annual income of around $77,000 a year, and the most successful economics make over $130,000 per year.
Getting Your Economics Degree Online
Nearly any economics degree you hope to acquire can be obtained online. Students can obtain an Associate of Arts in Economics in two years or less through a distance learning program. A Bachelor of Science and even a Master of Science in Economics can also be earned online, often in less time than it takes to earn these degrees at a traditional college or university. If you are a continuing education student looking for economics options, there are a number of top accredited online universities that can meet your needs.
Getting Your Economics Degree Offline
Many students who are attending an undergraduate institution directly out of high school choose economics as their major. Economics courses can provide new students with a great foundation for careers in business and finance. In the best-case scenario, these careers can be extremely lucrative, but even those just starting in the work force with an economics degree can enjoy a healthy income. Students should look for those universities with reputable business colleges, as graduating from a top business school with an economics degree can make a student very appealing to graduate institutions and big corporations. Students should take advantage of their time on campus to get to know economics professors and find out all the places their degree in economics can take them.
Economics Books
Some of the most important books in the field of economics include “The Wealth of Nations” by Adam Smith, “The End of Poverty: Economic Possibilities for Our Time” by Jeffery Sachs, “Principles of Economics” by Carl Menger and “General Theory of Employment, Interest and Money” by John Maynard Keynes. The other economics books you may require will be dependent on the branch of economics you are studying and the school’s curriculum. These books will be available at the school’s library, through the school library website or may be purchased elsewhere online.
Economics Articles And Databases
You will probably need to consult many economics articles during your research as a student of economics. Many university libraries have online databases that provide information about important economics articles. Some of these include: The University of Virginia Library Lib.virginia.edu/subjects/economics/), The University of Chicago Library Business and Economics Databases (L ib.uchicago.edu/e/busecon/db/) and the Thomas J. Long Business & Economics Library (Lib.berkeley.edu/BUSI/electres.html).
Online Economics Journals
Many of the articles you use for your economics research will come from economic journals. Fortunately, you can access a great many economics journals online, including Agricultural Economics (blackwellpublishing.com/journal.asp?ref=0169-5150&site=1), The American Economic Review (aeaweb.org/aer/), Applied Economics (tandf.co.uk/journals/titles/00036846.asp) and the Journal of Socio-Economics (Elsevier.com/wps/find/journaldescription.cws_home/620175/description#description).
Other Economics Research Tools
One of your leading resources for economics information and research will be the website of the National Bureau of Economic Research (NBER) at Nber.org. Nber.org highlights all the most recent working papers, gives links to new and upcoming books about economics, offers regular bulletins and has a wealth of data for you to peruse and analyze.
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