What is Economics?
Economics is the study of how society, businesses, and governments make decisions given the resources that are provided to them. Economics is the study of limited resources and how they are produced and how they are used. Economics is the study of people and choices.
The two main areas of study in Economics are microeconomics and macroeconomics. Microeconomics is the study of the dynamics between individuals and industries while Macroeconomics is the study of the economic activity of an entire market or country.
What Economics courses are available?
Universities and colleges in Ireland are offering Economics courses in the following subject areas:
- Economics – The study of economics and econometrics, the production, consumption, and transfer of wealth.
- Economics / Finance Research – The study of the current and primary issues in financial markets to prepare research articles.
- Economics & Financial Risk Analysis – The study of economic and financial risk analysis and training in these fields.
- Diploma in Macroeconomics – The study of macroeconomics, the structure, performance, behavior and decision making of an economy
- Macroeconomics of Ireland – An introduction to macroeconomics as it relates to the Irish economy.
- Measurement & Construction Economics – The study of concepts for cost solutions within construction.
- Quantity Surveying & Construction Economics – The study of construction and property surveying.
- Diploma in Health Economics – The study of the fundamentals of economics and the different ways of evaluating spending on healthcare.
- Diploma in Geo Economics – The study of the concepts of geopolitics and geo-economics and their importance.
- Economics and Economic Change – A broad introduction to economics and a good basis for further study in economics.
- Politics, Philosophy and Economics – A study of the fundamental areas of politics, philosophy, and economics.
Studying Economics in college
Economics is the study of people and it seeks to explain what drives human behavior, decisions, and reactions when faced with difficulties or successes. Economics is a discipline that combines politics, sociology, psychology, and history.
When you study economics you gain a range of skills, approaches, and ways of thinking that you can apply to a wide range of problems. Economics is one of the most vital concepts in the study of business, finance, and the public. Courses will be delivered through lectures, assignments, tutorials, and taught modules. Assessments will take place continuously with written examinations and practical assignments combined to achieve the qualification.
There are full-time courses that run anywhere from 1 year to 4 years depending on the course and modules selected. There are also part-time courses and night courses available so you can be sure to fit in your studies no matter what your schedule is like. You could also consider work experience or work shadowing in areas such as accountancy, banking, or finance. Contact local employers to see if they can help you.
Individual government departments may also be able to offer work experience and you should contact the department directly to find out more.
Career options
After completing a course in Economics you will be able to get started in a career that uses specific knowledge of economics, for example, banks, insurance, accountancy firms, businesses, and government.
These jobs may involve identifying financial risks or making decisions about where a company or a government should invest its resources in the future. People who have studied Economics and Finance are always in demand for jobs in banking and the financial sector, such as in accountancy firms. For any career related to finance, an economics degree is a good foundation to build on.
Economists are employed in a variety of settings in both the public and private sectors and may find employment in areas such as banks, charitable and not-for-profit organizations, consultancies, insurance, and accountancy firms, or even government departments and think tanks.
Related jobs include:
- Economist
- Analyst
- Budget analyst
- Industry analyst
- Financial risk analyst
- Data analyst
- Systems analyst
- Investment analyst
- Field Marketing Associate
- Financial planner
- Financial consultant
- Loan Officer
- Research Assistant
- Economic researcher
- Statistician
- Entrepreneur
- Business owners
- Business Consultants
Further study
After completing a course in Economics you may choose to pursue further study in a specialist field or research. You could choose to specialize within a certain area of economics, such as health, agriculture, or regional economic development.
Postgraduate study can also be used as a means to change career focus or to gain professional qualifications required to practice in certain career areas, such as accountancy.
FAQ
What skills will I gain from an Economics course?
An economics course gives you subject-specific skills enabling you to apply economic principles and models. You’ll also gain an understanding of the large driving forces shaping social policy and financial markets, as well as skills in statistical analysis.
You’ll also develop valuable transferable skills such as communication, numeracy, problem-solving, computing, time management, and research analysis methods.
What is the origin of economics?
The word ‘economics’ comes from two Greek words, ‘eco’ meaning home and ‘nomos’ meaning accounts and in its origin, it was likely about how to keep the family accounts which is a far cry from the wide-ranging subject it has become today.
Economics has grown in scope, very slowly up to the 19th century, but at an accelerating rate ever since. Adam Smith was an 18th-century Scottish economist, philosopher, and author, and is considered the father of modern economics. Smith is most famous for his 1776 book, “The Wealth of Nations.”
Where can I study Economics?
Explore your options here
Did You Know?
· Economics was originally called “political economy”
· Before-tax and welfare spending, Germany and Belgium are more unequal than the US. Only after-tax and transfers do they become a lot more equal. These examples show that it is possible to fundamentally reshape a country’s inequality through progressive taxes and the welfare state.
· If California were a country, it would have the fifth-highest GDP in the world
· Nigeria and South Africa make up almost half of Africa’s GDP
· At the height of his success, Steel tycoon Andrew Carnegie’s annual income was 20,000 times the average American’s wage
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