Economics undergraduates are very employable. Knowing what skills you will leave University with is essential – not only for your CV but also for your interest area and potential jobs.
The Higher Education Academy and the QAA have developed an Economics employability profile. Essentially it is a detailed list of the specific skills you will have once you have finished your Economics degree:
- Abstract and simplify in order to identify and model the essence of a problem
- Analyse and reason – both deductively and inductively
- Marshal evidence and to assimilate, structure and analyse qualitative and quantitative data
- Communicate concisely results to a wide audience, including those with no training in Economics
- Think critically about the limits of one’s analysis in a broader socio-economic context
- Draw economic policy inferences and to recognise the potential constraints in their implementation
- Apply literary and information-processing skills, as well as interpersonal skills
The report (pdf) goes on to expand these points and explaining what Economics is.
In addition, Malindi Myers, an Economist working for the Office of National Statistics and previous Economist for HM Treasury and the European Commission, explains that, “The skills you develop as an economist are very transferable – from an ability to problem solve, handle strong data, communicate with both specialist and non-specialist audiences, develop a wide range of communication skills (verbal, written, presentational) to working with other people often across a range of fields and interests and analysing things at a regional, national and international level- you will not be short of the skills that employers prize.”
The QAA benchmark also shows you what skills you will be able to do after an Economics degree:
- Demonstrate understanding of economics concepts and principles
- Demonstrate understanding of economic theory and modelling approaches, and their competent use
- Demonstrate proficiency in quantitative methods and computing techniques and know how to use these techniques and methods effectively across a range of problems
- Display understanding of the sources and content of economic data and evidence and of those methods that might be applied appropriately to the analysis of such data
- Know how to apply economic reasoning to policy issues in a critical manner
- Demonstrate knowledge in an appropriate number of specialised areas in economics, as well as an appreciation of the research literature in these areas
- Display familiarity with the possibility that many economic problems may admit of more than one approach and may have more than one solution
Hopefully, you will now definitely believe us – Economics is a very transferable, useful and interesting degree.