What Are the Different Types of Economic Career Opportunities?

Although becoming an economist may sound like the most logical job for those in the field of economics, there are wide range of other economic career opportunities. This includes bank examiners, who generally work with a central bank to oversee the nation's other banks. Individuals who want to work with those smaller financial institutions may become loan officers. Then there is a wide range of analytical jobs, such as those held by financial analysts and budget analysts.

Some individuals who study economics go on to become economists of some sort. They may perhaps choose to take jobs as international economists, public finance economists, and macro economists. In general, an economist does many things, such as collecting and analyzing consumer data, preparing reports and developing forecasts, and making information available and understandable for the media. The specific duties will, however, depend on the the type of economist that a person becomes and whom he is employed by. Those aspiring to such as career should note that, in many cases, individuals who hold these positions are required to have advanced degrees.

There are also economic career opportunities for bank examiners. These are individuals who are often employed by a nation's central bank to assess the operations of smaller financial institutions. Their responsibilities may include reviewing lending practices, assessing compliance, and monitoring operating systems. Bank examiners often play a significant role in helping to develop and modify regulations.

Loan officer jobs are another of the economic career opportunities offered by financial institutions. The primary responsibility of individuals in these positions is to help an institution determine to whom it should lend money. They also commonly help to develop and match the best types of loans to the various applications they are presented with. For large loans, such as those involving major projects, multiple financial institutions often act as creditors, requiring loan officers to work with one another to develop a funding package.

Financial analysts are economic career opportunities that often pay well but are subject to a high level of competition. The primary duty of these individuals is to help people and companies to make money. Individuals in this field are often divided into two groups: buy-side professionals and sell-side professionals. Those on the buy side deal with entities that have money to invest. Those on the sell side usually help those who have products to sell, such as stock and bonds. To be effective in their roles, these individuals often engage in tasks such as studying companies' financial data, analyzing potential mergers and acquisitions, and studying market trends.

Budget analysts are economic career opportunities in which individuals are employed to help businesses or governments make the best choices regarding their finances. Their responsibilities can be divided into three main groups. First, they generally develop a budget for their employers that is often based on proposals from various branch or department heads. Second, they execute and oversee those budgets by helping to outline how they should be implemented and monitoring whether it is done. Third, they commonly evaluate and forecast future financial need and perform cost-benefit analyses for proposed projects.