How Long Does It Take to Get an Economics Degree?: If you call economists the bedrock of the nation, you’re very much on track. These people have what it takes to change the financial tone of any society or country.
An economist studies how wealth is produced, consumed and transferred, and uses that knowledge to fast track the development of modern society.
How Long Does It Take to Get an Economics Degree?
These people are important in every sector. No wonder why Joan Young, a professional academic writer from AdvancedWriters.com, said that “Remove the economists, and everything crumbles.” At the political level, economists help reform the government, develop the nation and determine the rise and fall of authoritarians.
Coming down to the personal level, these people can empower consumers, feed the poor population, and engineer green-energy revolutions across the globe. They do all these by collecting data through surveys, studying economic trends using mathematical and statistical analysis. They use the results of this study and survey to develop a course of action for individuals, organizations, and even the government.
With the amount of power an economist holds, it’s an excellent idea to become one. However, the journey to becoming an economist isn’t always an easy one. Since economics is at the heart of practically every activity globally, there’s high competition for economist jobs in the marketplace. That means you only have a higher chance of getting a job if you have a master’s degree or a PhD.
Let’s walk you through the process of earning your own economics degree and how long each process will take. Then you can go on to find your place in the world of economics.
Get a Bachelor’s Degree
First things first – graduate from high school. Yes, that’s definitely a no-brainer, but we thought it’d be nice to chip that in. Only a high school graduate can think about earning a bachelor’s degree in economics.
After high school, you can go on to bag your degree. As an undergraduate who wants to be an economist, you can major in courses like finance, accounting, mathematics, etc. However, the best option would be to major in economics.
There are two options for whoever wants to get a degree in economics. These are the Bachelor of Science in economics (BS) and the Bachelor of Arts (BA). While both degrees are strong in their own right, a BS in economics usually provides a better platform for whoever wishes to further their studies. This is because the BA focuses more on the theoretical part of economics while the BS pays more attention to the practical aspect of the course.
Still, whether it’s a BS degree or a BA degree, most schools offer dual-degree options for students studying economics. So you can pair the course with another related course. Even if the institution doesn’t allow you to pair, you still have the opportunity to specialize in a particular area of the course.
Get Relevant Work Experience/Internship
Experience, they say, is the best teacher. There’s no better way to understand the world of economics than to see it play out in front of you in real-time. It might not be easy for you to get a full-time paying job as a degree holder, although it isn’t impossible. Still, some of these jobs don’t offer advancement opportunities.
Although some interns don’t get paid, more important is that you utilize all you’ve learned in school and gain working experience. In the process, you can learn new skills and acquire new knowledge that will make you stand out amongst your colleagues when it’s time for you to apply for full-time jobs or even other graduate programs.
Some companies accept interns who are still undergraduates or already in graduate programs. So the best time to start searching and applying for economist internship positions is when you’re in your final undergraduate year or the first year of your graduate program.
You can intern in a company for one or two years, depending on what the company offers and what you’re comfortable with.
Earn a Master’s Degree
Once upon a time, a bachelor’s degree was all you needed to get yourself a job. Now, thanks to the competitive market, you need something beyond a bachelor’s degree to set you apart from your competitors. This is where your master’s degree comes in.
After your BA or BS, you should earn a master’s degree, and as an economist, you have two options:
- An MA or MS in economics; or
- An MBA with a specialization in economics.
You can choose either, but an MA or MS is the best form of graduate-level economics study. With this kind of degree, you can always pursue a PhD in economics. Meanwhile, an MBA will give you in-depth exposure to business while touching on economics a bit.
A master’s degree takes a total of two years.
Bag a PhD (Optional)
After earning your master’s degree, you already have what it takes to take the world of economics by storm. Consider yourself a hot cake because you probably have all the requirements an employer needs in the right candidate. That means you can finally get a full-paying job and start making money.
However, you might want to consider getting a PhD, especially if you’re a passionate economist who wouldn’t mind staying a few more years in the academic world.
In a PhD program, you can always select what area you would like to specialize in or research. Still, you have to put in a lot of work because it is very rigorous and tasking.
The stress definitely pays off because PhD holders are usually considered experts in their fields and are well-sought after. Most of them end up working in high-ranking organizations and corporations.
Economists rule the world, believe it or not, but it takes due diligence – and quite some years – to rule. Also, remember that every step of the way, you would have to write papers or essays. If that’s something you may not be able to do yourself, you can hire professional essay writers online.