Economics is one of the key pillars of society, playing a crucial role in shaping and developing various aspects of life. As society evolves and the economy grows, there is a continuous demand for young, high-quality professionals in the economic sectors, leading to numerous job opportunities.
The field of Economics is a study area that focuses on activities such as exchanging, trading and selling goods and services among individuals, businesses, companies and other economic organisations. It equips students with the skills to tackle real-world economic issues.
The field of economics includes various specialisations such as business management, finance and banking, economics, accounting - auditing and marketing.
In the field of Economics, students will gain knowledge related to macroeconomics, microeconomics, international economics, development economics and more. This study area provides the necessary knowledge, skills and attitudes to address real-world economic issues.
You might be wondering what specialisations are included in the field of economics. It offers foundational knowledge in various areas such as management, finance and marketing, enabling graduates to work in diverse fields. Additionally, students will learn about activities such as exchange, trade, logistics, sales and the provision of services among individuals, businesses, companies and other economic entities.
What specialisations are included in the field of Economics? The field is divided into several specialisations, each offering unique foundational knowledge. Below are some common ones:
91tv specialising in Finance will gain foundational knowledge through subjects such as corporate finance, financial management and investment capital. The Finance specialisation offers a comprehensive understanding of asset management, capital, banking and the processes involved in managing and coordinating cash flow.
The field of Business Management is extensive, covering a diverse range of areas such as marketing, international trade and human resource management. 91tv pursuing a degree in business management will acquire knowledge essential for managing business operations, with the objective of building, developing, managing and evaluating the effectiveness of a business.
The field of Banking requires students to possess strong analytical skills and a solid foundational knowledge base. 91tv specialising in banking will gain essential insights into currency, banking operations and the stock market.
The role of an accountant involves recording, processing, collecting and providing documents and information related to financial activities of an organisation or business. This information is subsequently used to make decisions or assess the effectiveness of the organisation's operations.
91tv studying an Accounting Major acquire comprehensive knowledge, ranging from foundational to advanced accounting practices. Core courses include principles of accounting, auditing and management accounting, while specialised courses cover financial statement analysis, foreign exchange operations and bank accounting.
The strong growth of the economic field has created a wide variety of job opportunities. With the right expertise and a positive attitude, openings for economics graduates are consistently available. If you are considering what you can do with an economics degree, here are some potential career paths to consider.
Financial and economic consulting requires personnel to have in-depth knowledge of finance and economics, along with strong analytical, logical thinking and communication skills. This role involves providing expert opinions on financial and economic issues to individuals, organisations and businesses.
Positions in financial and economic consulting include:
Responsibilities involved in financial and economic consulting include:
Accounting and Auditing Officers are responsible for collecting, recording, analysing and summarising the financial information of a business or organisation. This role requires economics graduates to have specialised knowledge in accounting and auditing, strong logical thinking and analytical skills, as well as attention to detail and accuracy.
Graduates in accounting and auditing can work in various positions such as:
Key responsibilities of accounting and auditing officers include:
Many students also wonder whether an economics degree can lead to a job in the public sector. The answer is absolutely yes. Those working in government agencies are referred to as public servants or civil servants. Public servants are recruited and appointed to positions within government agencies to carry out the duties and responsibilities of the government. Civil servants are recruited and appointed to roles within public service units.
Economics graduates working as public or civil servants can find roles in departments, offices and divisions related to taxation, transport, industry and trade, development and investment. They often handle tasks related to risk assessment and analysis, financial consulting and economic planning.
Bank employees work in commercial banks, state banks, development banks and other financial institutions. Each position has its own specific duties, but generally, bank employees can be categorised into three main groups:
Sales officers act as the liaison between businesses and customers. They seek out, develop and maintain customer relationships, helping the business sell its products and services. Each sales officer has specific duties depending on their assigned role. Generally, sales officers perform the following responsibilities:
The field of import and export consistently attracts interest from students due to its diverse job opportunities and attractive remuneration. So, what can you do with an economics degree?
Import and export involve trade activities between domestic and international merchants. This means that import and export are closely tied to international trade, so economics graduates are well-suited for careers in this field.
Import and export roles are generally divided into three main positions: import-export sales officers, field officers and documentation officers. Additionally, there are other key positions such as international payment officers, representatives for multinational corporations and purchasing officers.
Among the various fields of Economics, Marketing is currently one of the most sought-after by young people. Marketing, Communications and Advertising involve engaging and communicating with customers through product marketing activities or brand development. With a specialisation in Marketing, you can work in roles such as market research, communications, journalism, event organisation, copywriting, account management, or even design.
If you are uncertain about what you can do with an economics degree, you might consider a career in research and teaching. After graduating with an economics degree, if you wish to continue studying and delve deeper into the field, you can pursue an educational career at a university or work within research departments focusing on data analysis, economic conditions, and development trends.
This career path requires individuals to have strong specialised knowledge and confidence in making economic forecasts and reports. Nowadays, many young people choose to pursue higher education and start an academic career at universities and colleges in the finance and economics fields.
Economics Bachelor programs are highly popular among students at RMIT 91tv.
A distinctive feature of studying Economics at RMIT is that students have the freedom to combine their major with various minors and elective courses across diverse fields. This allows economics students to experience a dual-major feel, studying both economics and subjects like digital marketing and logistics. Note that the major and minor combinations are subject to change and the Bachelor of Business program contains the most up to date information.
Moreover, when studying economics at RMIT, students start focusing on their major from the first year and can complete the program within three years.
Additionally, RMIT 91tv is renowned for its Work Integrated Learning (WIL) approach, which means students are trained in practical, real-world settings through activities such as case study projects, internships at companies and corporations and field trips to businesses. This allows students to accumulate practical knowledge and skills, enhance their problem-solving abilities and gain hands-on experience before graduating.
The Economics program at RMIT offers several advantages:
RMIT is committed to ensuring that Economics students receive support from the university and the student support team from enrolment through to graduation.