By | Pranab Bhandari
Are you confused about which undergraduate course to opt for? Bachelor of Arts in Economics Honors is rich in analytics, information, and theory, and Economics has its reach in all the sectors. Do you know what is a common factor in U.S. President Donald Trump, Warren Buffet – the third wealthiest person in the world, and Steve Ballmer, erstwhile CEO of Microsoft? Yes, not only are they all very successful in their chosen careers but they are also counted among the smartest minds in the world. All of them also graduated with Economics Honors in their college.
Just like a master’s in management, Economics is another highly sought-after degree that is chosen by thousands of students globally. Be it banking, finance, statistics, or rural studies, BA Hons. Economics would open the doors to a wide array of career options for you.
So, if you are wondering which course out of B.Com Hons., BA Hons. Economics, and B.A. General is the best, let us explore the top exciting career options, as that will help you make up your mind.
An Economics graduate develops a core skill to comprehend the economy as a whole, and that is why many students opt to this subject not only at the undergraduate level, but also at the postgraduate level so that they can go on to become successful researchers, scholars, and policymakers. Knowledge of this subject is needed to head a state or region’s finance ministry, work as a central banker, or hold a position as a technical policymaker or a technocrat (technical bureaucrat).
If you are good at working with numbers and think that it can become your career, then consider going in actuarial science. This is one of the most important career options among BA Hons. Economics graduates. The role of an actuary involves using various statistical methods added with your mathematical skills to find risks in finance, insurance, and other areas. Therefore, the knowledge you gain in your Economics Honors program assists you in performing with maximum proficiency and prove your worth.
Economist in a Corporate Sector Organization
Many corporate sector organizations hire economists to perform research about the macro business environment that they are operating in, and what can aid them in navigating business cycles and various policy changes. This role involves conducting in-depth research by using various statistical and econometric tools, and then as per your findings, you have to make recommendations. As an economist, you could work in a bank, a technology company like Google, or a big e-commerce firm.
Law is another field where economics graduates can be a good fit. The combined knowledge of Economics and Law is a great choice as it enables you to opt for career options such as public policy, corporate law, or market research. After completing your graduate degree program, you can pursue a 3-year degree program in BBA LLB, and if you want to further master this niche, then you could think about LLM (Master of Law).
Management consulting means analytically solving problems. When an organization faces a huge challenge that they are not able to overcome or find a solution to, then they usually collaborate with management consultancies to get an unbiased, professional, and researched point-of-view. Thus, management consultants have a key role in solving issues and challenges that firms across a range of sectors and industries face. They conduct a thorough analysis by examining the clients’ businesses and studying the market they operate in.
Economics Honors graduates can opt for various jobs in the Government sector. You could consider applying for a role in the RBI, some public sector bank, or Indian Economics Services to PSUs. A government job not just provides you with job security and financial stability, but it also gives you a reputation and honorable standing in the community. If you want to give your career a further push, then you can consider preparing for the entrance of the IAS or UPSC examination. Though this requires a lot of hard work, once you get through, you will be a league apart.
Many Economics graduates usually opt to specialize in Finance. Then many career options open up such as the financial services industry like investment banking, private banking, corporate banking, and investment, wealth, or asset management. Another option is to specialize in corporate finance, where you learn revenue streams, overall financial management, and investment projects and have a goal to become a CFO or Chief Financial Officer of your organization someday.
Now that you are aware of the lucrative career opportunities that await you after completing commerce degree, you must choose the best place to study.
BA Hons. Economics at BML Munjal University
This 3-year degree program is perfect for you if you want to build a career in the field of Economics and business. BMU offers two specializations in this course:
- Economics (Honor’s) with Finance as Minor
- Economics (Honor’s) with Management as Minor
Graduation in Economics will also help you if you aim to pursue post-graduation programs like MBA, MA in Economics, or any Master in liberal arts program. So, make your decision and go for it!