How Can I Specialize An Economics Degrees?

Economics DegreeIn order to specialize an economics degree, it is important to ensure that a student has thoroughly considered his or her interests and the field of work in which he or she wants to enter. After this has been determined, it is then necessary to find an accredited college or university that offers different specialties with regards to their more advanced economics degrees. Often, most colleges will only offer graduate programs that have specialization options, thus requiring a student to obtain an undergraduate degree first, and then apply and accept a position at a graduate school.

Apply to a Program

The most obvious step is to find a graduate program that offers specializations. Some undergraduate programs will have specialties in which a person can enter, however the majority will only cover basic economic theory. It is also recommended that a student understand these preliminary topics, such as microeconomic theory, macroeconomic theory, and how mathematical principles can be applied to the information that is collected by economists. Once these basic topics are learned, a student will be able to choose the specialty that most interests him or her, according to Petersons.

Choose a Specialty

There are a number of different specialty programs that are able to be studied more in-depth, depending on the interests of the student.

Economics in the Developing World

This type of economics focuses on using theories in economics to create methods of increasing growth in developing countries. By increasing growth, it will be possible to create more jobs that will increase purchasing power and decrease unemployment. Economists in this specialty will also focus primarily on inequality and methods of reducing it. Those who work in this field will test models on how to restructure markets and measure how far different companies have developed against different standards.

Economics of Organization

This field of economic specialization looks at how people function in an organization, what types of actions they perform, and how the dynamics in a workplace can be influenced in order to increase the amount of productivity that is achieved. An economist in this field will look at social psychology and sociology and combine the information that is gained with economic data in order to develop policies that will be able to positively shape a workplace. Case studies will play heavily into the study in this specialty.

Economics of Jobs

This form of economics degree will look at the job market and attempt to study it so that it will be possible to ensure that more jobs are created and that job loss is avoided. Those who are in this specialty program will look at employment rates, the amount of money employees are paid, the supply and demand of goods, services, and labor, and how trading with other countries influences the job market at home.

Economics of Cities

This is the field in which economic principles are applied to how urban areas are laid out in order to ensure that they are as efficient and successful as possible. Crime statistics will be looked at and analyzed using economic principles so that methods can be found to reduce crime and other problems that can plague a city.

Related Resource: Types of MBA Degrees

In order to specialize an economics degree, it is important for a student to find a program that will suit his or her interests and needs. Beyond that, it is just narrowing down interests so that the economic degree specialization will make the student happy.

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