EconoPath: Navigating

Dynamic Destinations
WO RRAWAT SAIJAI
V ENU E: FAC U LTY O F ECO NO MI C S
19 AU GU ST 2023
Economics can be defined in a few
different ways
It's the study of scarcity, the study of how people use resources and respond to incentives, or
the study of decision-making.
Course Outline
1. Exploring Career Paths
◦ Understanding Economics Skills
◦ Broad Career Categories
◦ Interactive Activity: Self-Assessment

2. Exploring Specific Career Options

◦ Finance and Banking Careers
◦ Consulting and Data Analysis Careers
◦ Public Sector and Policy Careers

3. Preparing for a Successful Career Transition

◦ Networking and Building Professional Relationships
◦ Continuous Learning and Skill Development
1. Exploring
Career Paths
Importance of Career Planning
1) Navigating the Complex Job Landscape : job market today is dynamic and competitive
2) Maximizing Educational Investment: maximize your skills and knowledge
3) Setting Clear Goals: set short-term and long-term >> stay focused
4) Optimizing Skill Development
5) Adapting to Market Trends
6) Mitigating Uncertainty : by solid career plan
7) Enhancing Confidence : a clear vision and networking with sense of purpose could help
8) Unlocking Opportunities (beyond the traditional goal)
9) Promoting Lifelong Learning : mindset of continuous learning and growth, enabling
professionals to stay relevant and competitive in their field.
Img source: tun.com
1.1 Understanding Economics Skills
Skills Developed through Economics Education
◦ Critical Thinking
◦ Data Analysis
◦ Problem-Solving
◦ Quantitative Skills
1.2 Broad Career Categories
q Public Sector
q Private Sector
q Academia
q Non-profits
q Finance
q Consulting

Img source: ebrary.net/

1.3 Interactive Activity - Self-
Assessment

5.
1. 4.
Assessing
Identifying Identifying
Personality
Strengths Values
Traits

2. 3. 6. 7. Matching
Exploring Evaluating Gathering with Career
Interests Skills Feedback Paths
2. Exploring Specific Career Options
2.1.1 Investment Banking
• A field that specializes in financial advisory, capital
raising, and mergers and acquisitions (M&A)
• Roles within investment banking, such as
investment analysts, associates, and vice presidents

Skill Requirements:
ØA solid understanding of financial markets are
essential
ØProficiency in financial modeling, valuation
techniques, and data analysis tools is highly valued.
2.1.2 Financial Analysis
• Financial analysts assess a company's performance,
financial health, and investment potential.
• Roles of financial analysis are including financial
analysts, credit analysts, and equity researchers

Skill Requirements:
ØA solid understanding of financial markets are
essential
ØProficiency in financial modeling, valuation
techniques, and data analysis tools is highly valued.

Img source: InfosecTrain

2.1.3 Risk Management
• Identifying and mitigating potential risks that could
impact a company's financial stability (why risk is so
important?)
• Risk Management, including risk analysts, credit
risk managers, and risk assessors

Skill Requirements:
Østrong analytical skills, a deep understanding of
financial markets, and
ØThe ability to assess and manage potential risks
effectively.
2.2 Consulting and Data Analysis
Careers
Problem-Solving Emphasis
Communication Skills

Img source: seas.gwu.ed

2.2.1 Consulting
• Consultants work across various industries and
sectors.
• Management consulting as a field where
professionals provide expert advice to organizations
to solve complex business challenges and improve
performance
Skill Requirements:
ØStrong quantitative skills, proficiency in
data analysis software
ØEffective communication
2.2.2 Data Analysis
• Examining, cleaning, transforming, and interpreting
data to extract meaningful insights
• The roles: data analysts, business analysts, and
quantitative analysts
Skill Requirements:
ØStrong quantitative skills, proficiency in
data analysis software, especially in with
large datasets
ØEffective communication
2.3 Public Sector and Policy Careers
2.3.1 Government Agencies
Roles in Government Agencies
◦ Roles in Government Agencies >> Economic Policy Influence
>> positive impact on the economy & policy efficiency
◦ Impact on Economic Policies
◦ Societal Impact
◦ Research Opportunities (evidence-based decision-making)
2.3.2 Policy Think Tanks
Policy Think Tanks
◦ This jobs provide independent analysis and
recommendations on policy issues << bridge the
gap between academia and policymakers
◦ Roles within policy think tanks, such as policy
analysts, economists, and researchers >> conduct
in-depth research and offer insights to guide
public discourse
◦ Influence on Societal Impact
◦ Collaboration with Experts
◦ Application of Economic Theory
◦ Potential for Societal Change
3. Preparing for a Successful Career
Transition
q Careful planning can set you up for success
q Networking is a key aspect of career development
q Benefits of networking, such as gaining insights into industries, accessing hidden job
opportunities, and receiving advice from experienced professionals
q Tips for successful networking, such as attending industry events, joining relevant online
communities
3.1 Networking and Building Professional
Relationships
q Defining Networking
q Importance of Networking
q Benefits of Networking
q Starting Early
q Building a Professional Brand
q Utilizing Social Media : Linkedln
q Attending Industry Events
q Following Up, Maintaining Relationships
q Diverse Connections
3.2 Continuous Learning and Skill
Development
q Continuous Learning and Skill Development
q Lifelong Learning
q Online Courses and Skill Enhancement
q Creating a Career Action Plan
q Guidelines for Creating a Plan
Average
salaries of
Economists
in USA
(2016-2018)
Enployment of
Economists by
Industry in
Australia (2016)
Q&A