Careers in Economics
A degree in Economics provides analytical, numerical and quantitative skills together with a broad understanding of socio-economic and policy issues and could lead to a career in a wide range of roles within the private or public sectors. As an Economics graduate you will have developed subject-specific and transferable skills which are highly attractive to employers.
The Lancaster Economics degree will ensure you develop high level, subject specific skills enabling you to apply economic principles and models, whilst also developing an understanding of financial markets and socio-economic policies. However, there are also many transferable skills gained from studying Economics at Lancaster:
Analysis and Research – the ability to critically analyse data and conduct research
Communication – presenting complex information accurately
Problem Solving – developing solutions using available data and making recommendations
Time Management – the ability to produce high quality work within set deadlines
Computing – using a range of specialist and general software packages
Numeracy – Statistical and mathematical analysis
For more information about the specific skills you will develop, please visit the Lancaster University Knowledge Bank.
Lancaster graduates with a degree in Economics have gone on to work in a range of different settings, including large international professional services firms, national and commercial banks and governmental organisations. Additionally, many Economics graduates choose to pursue postgraduate academic or professional qualifications to specialise in a specific area, or develop new knowledge and skills. Take a look at our Alumni Profiles to find out more.
There are many career routes which relate to a degree in in Economics, where your knowledge and skills could be utilised. Economics graduates have gone on to work with companies such as Apple, Baker Tilly, Ernst & Young, Grant Thornton, HP, HSBC, IBM, KPMG, McLaren, Rolls Royce, European Central Bank and The World Bank. Here is a short list of possible, but not exclusive, career options open to Economics graduates:
Analysts (risk, insurance, investments) – Researching, analysing and providing accurate and detailed information to clients and employers, enabling business decisions to be made. You will find analysts working in a range of settings including investment banks, professional services firms or financial organisations.
Chartered Accountancy – Working in a range of settings including public practice firms, industry and commerce and the public sector, chartered accountants provide accurate financial information and aim to maximise profit for their clients or employer. This career option is open to graduates of any discipline, as professional training is often provided by employers.
Civil Service Fast Streamer – Working for central government on a graduate development programme with the Civil Service. This scheme provides graduates with the opportunity to gain valuable experience in a range of government departments and develop strong leadership skills.
Consultant – Working with a range of clients from various companies and public organisations to provide expert advice on business decisions and processes. Solving problems to ensure businesses are successful and make profit.
Economist – Researching and analysing the relationship between a society’s resources and its production or output. The focus of this research can be local communities, entire nations or even the global economy. This research informs a wide range of policy decisions such as interest rates, tax, welfare, trade and corporate strategies.
Statistician – Working in a variety of settings, such as education, government, finance, forensics and market research to collect, analyse, interpret and present quantitative information. Statisticians work with clients and employers to inform decisions and strategies.
If you are interested to learn more about the different career options with an Economics degree, a useful source of information is Prospects, the UK’s official graduate careers website.
If you would like support or advice about your career options, or you want to find out how to make the most of your time at University to ensure you can compete in the graduate labour market, you can book an appointment with one of our dedicated Careers Advisers based in the Management School. Find out about the range of careers support, events and services the Careers Team provide.
Lancaster University Economics Society
Joining the Economics Society provides members with the opportunity to further enhance their academic skills, gain an insight into economic research and actively participate in discussions. This is an excellent source of career support. Furthermore, engaging with these activities will enhance your skills and could help you to make an informed decision about your future career.