Are you interested in Economics? Here you can get all information and details about Economics Career in Pakistan, its courses, branches, subjects, job opportunities, and eligibility & requirements. Economics is a social science investigating the production, distribution, and consumption of goods and services. Economics focuses on the behavior and interactions of economic actors and how economies function. Other typical careers in economics include stockbroker, auditor, insurance business manager, pricing analyst, retail merchandiser statistician, financial consultant, and salesperson. Economics examines the behavior and interactions of economic agents and how economies function. Microeconomics is an area of study that examines the fundamental aspects of the economy, including individual agents as well as market structures, the interactions between them, and the consequences of their interactions. Individual agents can comprise, for instance, households, businesses, buyers, and sellers. Macroeconomics examines economics as a whole, where consumption, production, savings, and investment work together and the factors that affect it, such as the utilization of the capital, labor and land, and currency, inflation of the economy, growth, and policies of the public which impact these components.
The Economist is an expert in the numerous forces affecting an economy, including raw materials, labor manufacturing, investment, retailing, transportation, and consumption. They are knowledgeable about the development of economics over time, the impact of policies by the government, price theory, business cycles, econometric forecasting, various economic models in the national economy, the advantages of banking and credit, and more.
A large portion of economists has devoted teaching economics at universities and colleges worldwide. However, the majority are employed in roles in research or advisory in their firms (in firms that provide economics consultancy) as well as in industry or the government. Some are employed in the fields of accounting, commerce marketing, accounting, and business administration. Although they’re educated to be economists, their skills are in other fields.
Scope of Economics in Pakistan
A bachelor’s degree in economics is vital and required for developing countries. Pakistan is a developing nation which is why its economy is also expanding. People who have a bachelor’s degree in economics have a solid standing and are compensated well. The field of Economics has some distinctive characteristics that distinguish him from other people. The Economist is responsible for the nation’s production, trading, investment, retailing, and consumption. BS Economics has a wide array of potential applications in many different areas. Students with a degree in economics can pursue careers in industries and education, as well as in economics, as well as a myriad of other areas.
Economics Career in Pakistan Scope and Jobs Opportunities
Economics Career in Pakistan
Many different sectors provide career options to students with degrees in economics. The private sector employs economists to work in their accounting and finance departments. They offer crucial insights into economic cycles in the business. Government institutes hire economists. Pakistan’s government Pakistan is comprised of departments that require expert economists. The Institute of Economic Affairs is a research institute that studies the economic conditions of Pakistan. Here is the complete list by which you can determine the scope of the Economics Career for Pakistan:
- Human Resource Administrator
- Economist
- Actuaries
- Budget Analysts
- Financial Analysts
- Market Research Analysts
- Mathematicians and Statisticians
- Operations Research Analysts
- Political Scientists
- Post Secondary Teachers
- Survey Researchers
- Urban and Regional Planners
- Real Estate Agent
- Lawyer
- Sales Manager
- Marketing Manager
- Marketing Analyst
- Sales Manager
- Loan Officer
- Product Manager
- Technical Writer
- Professors
- Bankers
- Journalist
- Event Manager
- Planning Advisors
- Stockbrokers
- Public Advisors
Employment Sectors
- Investment banking
- Financial sector
- NGO’s
- Government Economic Cells and Departments
- Insurance Companies
- Private sector Finance and Accounting Department
- Companies that conduct Risk Assessment
- Educational Institutions
- Industries
- Event Management Companies
- Press Companies
- Courts
- Loan Offices
- Real Estate Agencies
Economics Courses
Bachelors in Economics research all the factors that affect the production, distribution, and consumption of services and goods. Economics studies both small-scale (Microeconomics) and worldwide (Macroeconomics) economic variables. Universities and colleges worldwide offer a Bachelor’s degree in Economics to instruct students on maximizing every economic activity to increase the well-being and economic prosperity of businesses and consumers. BS Economics is a 4-year program of eight semesters and 130 hours of credit. Candidates must hold an Intermediate Certificate in Arts, Sciences, or Commerce from an accredited Board or Institution of higher education in Pakistan or A-Levels from an English Educational System.
Branches of Economics
There are many different branches of Economics. The most important branches of Economics are listed below:
- Microeconomics
- Macroeconomics
- International economics
- Development economics
- Classical economics
- Economic welfare
- Austrian economics
- Monetarist economics
- Economics of labor
Major Subjects of Economics
- Human Resource Management
- Business Analysis
- Business Communication and Report Writing
- Islamic Code of Business Ethics
- Economics of Transportation
- Budgeting and Forecasting
- Monetary Economics
- Public Finance
- Microeconomics
- Investment Analysis
- Advanced Financial Management
- Research Project
- Project Management
- Mercantile and Taxation Law
- Labor Economics
- Development Economics
- Environmental Economics
- Agricultural Economics
- Statistics for Business and Economics
- Mathematics for Business and Economics
- Fundamentals of Management
- Financial Accounting
- Fundamentals of Marketing
- Management Information
- Financial Management
- Entrepreneurship
- Managerial Economics
- International Economics
- Business Research Methods
- Business Econometrics
Responsibilities of Economist
The most common tasks of economists are:
- Research on economic issues
- Conduct surveys and gather information
- Examine data using mathematical models as well as statistical techniques and software
- The results of the research are presented in tables, reports, and charts
- Predict and interpret the future of markets
- Provide advice to governments, businesses, and people on economic issues
- Provide solutions to economic issues
- Write academic articles as well as other media
Economics Career Description
Actuaries
They analyze the financial implications of uncertainty and risk. They employ math, statistics, and financial theory to evaluate the risk associated with future events. They assist clients and businesses in developing strategies to reduce the costs of this risk. Their work is crucial for the insurance industry.
Budget Analysts
Budget analysts aid institutions, both private and public, organize their financial affairs. They write budget reports and also monitor institution spending.
Financial Analysts
Financial analysts offer advice to individuals and businesses making investments. They evaluate the performance of bonds, stocks, and other types of investments.
Market Research Analysts
Market research analysts analyze market conditions to assess possible sales for an item or service. They aid companies in understanding the customers want from their products and how they will be purchased by whom and at what price.
Mathematicians and Statisticians
Mathematicians and statisticians analyze data and employ mathematical and statistical analysis techniques to solve real-world issues in engineering, business healthcare, and other areas.
Operations Research Analysts
Operations research analysts employ advanced methods of math and analysis to assist companies in investigating complicated issues, finding and resolving problems, and making better choices.
Political Scientists
Political scientists research the origins, evolution, and functioning of the political system. They investigate political concepts and study policies, governments, political trends, and related issues.
Post Secondary Teachers
Post-secondary teachers guide students in various technical and academic disciplines beyond the high school grade. They might also do research and write books and papers that are scholarly.
Survey Researchers
Survey researchers create surveys, conduct them, and then analyze the data. Surveys are utilized to collect facts-based information, like details about salary and employment, or to inquire about questions to understand opinions, preferences, beliefs, or even desires.
Urban and Regional Planners
Urban and regional planners design strategies and plans for land development to develop communities, support the growth of populations, and rejuvenate physical facilities in towns, cities, counties, and metropolitan areas.
Economics is a branch of social science that investigates how people can satisfy their endless needs using limited resources. It is the study of choices and trade using the application of intuitive graphs and mathematical components. The field is split into two areas: macroeconomics (micro) and macroeconomics (macro).
Utilizing computer-generated models and important economic indicators, he can predict the economic trends in the short term of various regions or industries with some satisfaction. He can also identify the likely impact on the economic environment, for instance, new regulations by the government, technological advancement, or a sudden supply of basic materials.
