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Careers in Economics
Graduates in Economics have chosen a wide variety
of career paths. Honours students typically choose to pursue
postgraduate study in economics, international relations,
or law. Postgraduate work in business administration, education,
planning, or public administration/public policy are also
popular options.
Our graduates have gone on to do graduate work—both at the M.A. and PhD. level— at all of Canada's top graduate programs as well as at the London School of Economics, University of California at Berkeley, Carnegie Mellon, and Université Toulouse.
Others opt to move directly into the labour
force. Recent graduates have been employed by the Bank of Canada, the Competition Bureau, Health Canada, Industry Canada, Statistics Canada, the New Brunswick Department of Finance, Deloitte Inc., J.P. Morgan Chase(New York), Atlantic Lottery Corporation, Petro-Canada, the Canadian chartered banks, and a number of other private sector organizations.
The job outlook for economists is generally seen as good,
particularly for those with an honours or master's degree.
Jobs will probably continue to be available at all education
levels, but many job market counsellors feel that a person
with a master's degree in economics will have little difficulty
finding a job.
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The Options
Economics is the study of individual and societal
choices caused by limited resources and unlimited wants.
Economists are especially concerned with the effect of incentives
on behavior and the standards of living that are provided
to citizens through variously organized economies. An understanding
of basic principles of economics and an ability to apply
these principles using standard analytic tools provides
valuable insight into important personal and societal issues.
Economic issues must be considered in order to have an adequate
understanding of such important issues as environmental,
trade and regulatory policy. It is difficult to find any
significant public policy issue for which economic considerations
would be irrelevant. Private business also finds economic
analysis useful in such areas as developing economic forecasts,
analyzing market conditions, developing pricing strategies,
and formulating positions on public policy.
Business
Economic analysis is an essential part of planning and problem
solving in business. Business economists play an important
role in all major industries. Economists understand the
impact business cycles, government policies and international
developments can have on companies. They evaluate and interpret
these factors and the influence they will have on consumer
demand, prices, costs, the competition, financial conditions
and other matters.
Government
Provincial governments and the Federal government employ
economists to collect and analyze data and calculate the
consequences of various policy proposals. Economists also
monitor the effects of policy under changing conditions.
Local governments also find economic analysis an essential
part of their decision making and either have economists
on staff or use economic consultants.
Nonprofit
Sector
Non-profit organizations including social policy and environmental
groups, organizations working in developing countries, the
Canadian Labour Congress and labour unions all require the
expertise of professional economists. Economists working
for such groups are expected to analyze issues and to write
about them in a non-technical way which can be understood
both by the average citizen and by elected lawmakers and
government bureaucrats responsible for making and implementing
policy.
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