What Is The Scope Of Doing A Bachelor’s In Economics?

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09 September 2022

Job & Career

Economics

Economics is a part of our everyday life. It affects our daily lives in obvious and subtle ways.

Supply and demand, opportunity costs, the law of diminishing marginal returns, and the trade war are the applications of economics in the real world. You contribute to the economy by buying a Starbucks coffee and chocolate-filled croissant.

As our lives are influenced by macroeconomic trends, like inflation, interest rates, and economic growth, an in-depth understanding of economics is imperative to make informed decisions and gain a global perspective. In-depth knowledge of economics allows individuals to drive positive change. Economics helps think strategically and optimize the outcome.

Economics graduates are in huge demand across the world. In this article, we will discuss the literal meaning of economics, how it impacts our lives, and why studying BA in Economics and Business Administration is essential for creating a rock-solid career foundation.

What Does Economics Entail?

Economics study people, their behavior, decisions, and reactions in the face of scarcity and successes. It is a combination of politics, sociology, psychology, and history.

Studying economics provides a high level of mathematical and statistical skills. This discipline also allows individuals to apply economic principles and models to business or finance problems.

Moreover, pursuing economics equips individuals with a broad economic concept that can be applied to understand complex data and the relationship between things in the broader context. Upon completing a bachelor’s in economics, you will develop a wide range of skills, including communication, numeracy, problem-solving, and analytical skills.

What Can You Do With A Bachelor’s In Economics?

BA in Economics graduates has various employment opportunities across a spectrum of industries. Common career paths for BA in Economics graduates include:

Economics Entail

1. Economist

As an economist, you will study the production and distribution of resources, goods, and services by gathering and analyzing economic data and researching trends to provide financial advice to businesses.

2. Investment Banker

As an investment banker, you will be working towards raising capital for corporations. Investment bankers usually combine financial services, analytical prowess, and practical communication skills to support institutional clients in raising money and acquisitions.

3. Data Analyst

Data analysts solve business problems by collecting, cleaning, and interpreting data sets. They identify key business insights using data analytics, data cleaning, and statistical knowledge.

4. Actuary

These professionals evaluate and advise on the impacts of financial risk and uncertainty in business. With business and economics acumen, actuaries provide reports and assess the risk of potential events.

5. Financial Analyst

As a financial analyst, you will evaluate investment opportunities, create financial modeling for investors, assess stock performances, and evaluate outcomes for business decisions.

Conclusion

If none of the above appeals to you, there are several other lucrative career options you may want to consider. You can seek a role in international development, human resource management, IT, journalism, law, market research, public relations, or taxation. Check out the top-ranked college in Germany’s Berlin to enroll in the course.

Additionals:

Sumona is a persona, having a colossal interest in writing blogs and other jones of calligraphies. In terms of her professional commitments, she carries out sharing sentient blogs by maintaining top-to-toe SEO aspects. Follow more of her contributions in SmartBusinessDaily

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Red flags of a job interview: 8 reasons to turn down an offer

Changes are exciting, but they also fill us with doubts.Do you know an old English proverb, "better the devil you know than the one you don't know"? Many will argue with it, as knowing any bad information on anything is more of a repulsive factor than a reassuring one, but still, going into a new work environment is scary.What if the reality is different from what you've been told in a job interview? Does logic drive your decisions, or are you just following your emotions? Will your life improve after accepting the offer?Changing jobs is stressful enough for any employee, especially if it is done more because of the external circumstances, but it may sometimes provoke regretful thoughts after getting to work.This happens mostly because the hiring managers often describe the work environment better than it really is to create fake impressions and help the candidate 'swallow the bait.' 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Or just the lack of understanding and communication between employees.3. Completely altered information from what you saw in the job descriptionIf you find out that the conditions and your functions as an employee are different from what you saw in a job description before sending a CV, it is also a good indicator of something being wrong in the company.Sometimes the hiring team tends to embellish the real work conditions to attract more specialists. Still, if the interview points out that the real expectations differ from the description, it is confusing and shows the company's lack of professionalism. Who knows, maybe the salary here is also not that high, and the collective turns out to be problematic.4. The selection progress takes an eternityNo matter the reason, slow and time-consuming selection processes are signs of faulty organization. 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Still, if you feel out of place all the time, you have the right to move on and look for professional happiness elsewhere.Additionals:Clicka Jobs USA – Why It Is Making Headlines?Part Time Job To Consider In Singapore During Covid-19How to Get a Job as a Pharmaceutical Sales Representative9 Best Entry Level Marketing Jobs When Starting Your Career

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is consumer services a good career path

Is Consumer Services A Good Career Path?

Each and every occupation has its perks. Consumer services offer a good headstart for people starting their careers in the field. Also, there is a promised and good growth potential in this sector.The service sector of an economy is divided into three different categories.Business services.Public services.And consumer services.Many of us tend to confuse consumer service with customer service ( which is about helping customers before and after purchase). Consumer services are intangible, and they are often produced, served, and consumed at the same time.But, is consumer services a good career path? What are the good sides and the disadvantages of a career in the consumer service platform? If you have similar queries, then this article might be helpful.What Is Consumer Service?Consumer services (again, not to be confused with customer services) focuses on intangible services that derive value from different intangible experiences, outcomes, or processes. Such services have no physical experience.If you want examples, we can name a few familiar consumer services that we are familiar with,Computer software,Consulting,Health care,Accounting,Education,Insurance,Investment banking etc.Some jobs in the consumer service sector might also require you to work in call centers, and they might be based in retail stores. In some cases, you might be required to work from your home. A basic skill needed in the consumer service sector is good communication and problem-solving. Industrial services and consumer services differ from each other. Below is a detail,Consumer Services ExamplesSome examples of consumer service jobs can be found in different industries. Below are some industries you might want to check out,1. RetailIn the retail industry, businesses create and sell products and services for personal use. If we calculate in the US, there are more than 3.8 million retail businesses. These consumer services in the retail sector employ around 44 million people. As a result, it is one of the biggest private sectors.2. HealthcareHealth care services also come under the consumer service sector. The healthcare sector offers an assured answer to your question – “is consumer services a good career path?” there are different consumer services in this sector that are indispensable. You can find consumer service jobs in these sectors under healthcare services,RehabilitativeEmergencyHome careAnd long-term treatments3. EducationThere are plenty of job opportunities in the healthcare service sector. But, the education sector is not devoid of consumer service occupations. You have jobs in universities, colleges, and schools.4. HospitalityHospitality is the host of a huge service industry and is comprised of food and beverages, travel and tourism, lodging, and more. All of these feeds are interconnected to each other. There are many job opportunities in hospitality as a consumer service professional.Similar to these sectors, consumer service jobs are available in Information technology, finance, product as services, and professional service sectors.So, Is Consumer Services A Good Career Path In 2024?Consumer services is a good career path in 2024 for those who enjoy interacting with people and solving their needs. Consumer services is a broad sector that includes a wide range of careers focused on delivering consumer services and support, such as customer service, sales, retail, marketing, product development, research and development, and operations. Of course, there are also some challenges and drawbacks to working in consumer services, such as dealing with difficult customers, working under pressure, and facing competition. However, these can be overcome with the right skills and mindset, and by seeking training and support from employers or colleagues.Some of the benefits of pursuing a career in consumer services are:Job securityMany consumer services, such as health care and banking services, are essential for people's daily lives, so the demand for these services is likely to continue regardless of economic conditions. Consumer services industries are also constantly evolving and innovating, creating new opportunities for skilled workers.FlexibilityMany jobs in consumer services offer flexible work schedules, making it easier to balance work and personal life. Some jobs also allow remote work or digital delivery, which can increase convenience and efficiency. There are also various types of jobs in consumer services, allowing candidates to choose positions that suit their interests and strengths.Growth opportunitiesThere are many career growth and advancement opportunities in the consumer services industry, with many entry-level positions leading to management positions. Consumer services roles also help to develop transferable skills, such as communication, problem-solving, and conflict resolution, which can benefit any profession.Meaningful workConsumer services roles play a crucial role in ensuring customer satisfaction and building brand loyalty, making it a meaningful career choice. Consumer services professionals can also make a positive impact on society by supporting local businesses and communities, reducing waste and clutter, and promoting health and wellness.Jobs Available In The Consumer Service SectorNow, with a clear idea about the consumer service sector, we are ready to explore the job opportunity in the consumer service sector.This type of service has a wide range. The consumer service sector is the largest sector in the world, where jobs range from garbage cleaning to offering brain surgery. In the US alone, this sector has a wide range of jobs lined up, taking up almost 50% of the total available jobs in the US.Different types of jobs are available in education, health, retail, and other different sectors. Teaching students, student counseling, and financing loans for students are intangible services produced and consumed simultaneously.So, is consumer services a good career path? Yes, it is a viable option, given the number of variable job opportunities in different sectors. Salespersons and customer service representatives also come under consumer service.Pros And Cons Of The Consumer Service SectorHere are some pros and cons of the consumer service sector -Pros There are countless opportunities of working in the consumer service sector.Low academic degree requirements make it a great place to start your job.You can build interpersonal skills dealing with different types of clients.Workers have opportunities to earn bonuses and commissions.ConsSometimes it may not seem consistent. You have to deal with multiple and frequent changes in the business. This could often seem frustrating.The working hour is not regular sometimes. You might have to work on holidays and weekends.Professionals in this industry often face burnout and stress.Frequently Asked Questions (FAQs):Here are some frequently asked questions about the consumer service sector that I have answered below.Q1. What Career Path Is Customer Service? Consumer service is a good career option. If you have good communication and problem-solving skills, you can choose customer service jobs. As a customer service provider, you have to help customers before and after the purchase of a certain product or service. Q2. What Are Examples Of Consumer Services? Consumer services are the type of job where employees offer intangible services. These services are typically produced and consumed simultaneously. Some common examples would be auto repairs, haircuts, healthcare, education, landscaping, or pet sitting. Q3. What Companies Are In The Consumer Services Field? Here are some companies that we can take as examples of consumer service companies,1. Talkdesk2. Kasisto3. Acorns4. Walmart5. Apple6. Amazon7. Innovaccer8. Pfizer9. Thumbtack10. Babylon Health11. N26 Q4. Is Customer Service And Consumer Service The Same? Consumer services and customer services are different. Customer services aim to support customers before and after the purchase of a specific product or service. However, consumer service is about providing intangible services like auto repairing or haircuts.Is Consumer Services A Good Career Path? - VerdictThere are some pros and cons. But consumer service industries are great to start your career in. You might start at an entry-level job, and you will rise through the ranks and can eventually make a profitable career out of it. Truthfully, consumer services are a good career option. In this sector, you get to work with new people and multiple people every day.In this article, I have explained several reasons why it is a good career path. Also, the number of jobs in this sector is multiplying every year. Did this article help? Please share y our feedback with us in the comment. You can also leave your queries regarding the same.Read More:Is Capital Goods A Good Career Path?Are Commercial Banks A Good Career Path10 Tips For A Successful Law Enforcement Career

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Is Medical Assistant A Good Career Path

Is Medical Assistant A Good Career Path In 2021?

Is medical assistant a good career path in 2021? How many jobs are available in the medical assistant sector? What are the best paying jobs in the medical assistant?Let’s discuss the above queries in detail.Becoming a medical assistant doesn’t take long, and the job is excellent in several ways. First, if you are interested in working with medical patients, then the medical assistant sector can be the right career choice for you in the long run.Medical assistants are becoming an increasingly crucial part of the healthcare system as hospitals try to accommodate the needs of the increasing patient population. Besides, medical/dental instruments are also regarded as a great career path due to the rising demand for medical assistants. Medical Assistant & Job Responsibilities - What You Need To Know?Medical Assistants are healthcare experts who assist doctors in medical offices as well as clinics. This is one of the nation’s careers growing much faster than average for all occupations.Medical assistants work directly with doctors, but they can’t give any medical advice to patients. It is because their duties are very limited as they work to prepare the doctor and patient for the medical visit and collect information for the same.Now, what does a medical assistant do? Their duties and responsibilities vary according to the requirements. Some of their common tasks are like:Bookkeeping, handling bills, etc. Making arrangements for a hospital visit Coding and completing insurance forms Updating medical records Greeting patients and their families Scheduling appointments and answering phones. Doing electrocardiograms Drawing blood for lab tests Changing wound dressings Discussing the general information with patients Preparing laboratory samples with patients Updating medical histories for both doctors and patientsIs Medical Assistant A Good Career Path In 2021? The answer to this question is an absolute Yes. Although there are no formal education requirements for becoming these assistants, you need to complete Medical Assistant Program training to become one. Meanwhile, some of the important skills required to become a medical assistant are technical skills, interpersonal skills, detail-oriented and analytical skills. Now, we are going to describe several reasons to consider medical assistant as your career path.i). Career is stable: Working in the healthcare industry seems like it is a non-stop job. There is a need for assistants, surgeons, doctors, nurses, and other individuals working 24*7, 365 days a year. Thus, the career is stable in this path, and the future is rewarding.ii). It can be a gateway to greater things: Another reason to consider medical assistant as your career path is that it can be a gateway to greater things in life. This sector has more potential to become a fulfilling career.iii). You can work anywhere: Another benefit of choosing a medical assistant as your career path is that you can work anywhere. The skills required to become a medical assistant are helpful in every hospital across the country, which is, in turn, beneficial for you.iv). Certification can increase marketability: You need to pass some Medical Program test to get this job role, and the test requires a broad understanding of healthcare implementation, and all the information will prove incredibly useful to you.v). You can enter the field immediately: The job of a medical assistant is accessible, which makes it easy for you to enter the field immediately. You can just complete a Medical Assisting Diploma for the post of medical assisting.vi). Jobs are increasing faster than average: Another benefit of this sector is that jobs are increasing faster than average. Therefore, there can be lots of opportunities for you in the long run.  How Many Jobs Are Available In The Medical Assistant?According to the reports, there were around 720,900 jobs in 2020 alone. This number is increasing at present and is expected to increase in the future as well. In the United States, three are more than 4.5 lakhs people working in the medical assistant field.Now, we are going to discuss the best paying jobs in the medical assistant sector in 2021. 1. Medical Assistant Vaccine Coordination The Medical Assistant Vaccine Coordination is mainly responsible for administering vaccines to patients. In this position, you need to perform various patient care activities and related services.This pandemic has given rise to this post, and it is available in many states of the United States where you can apply now.  2. Research Medical Assistant Another best paying job in this industry is Research Medical Assistant. In this role, you need skills in speaking and writing to persons of diverse cultural, economic, social, and educational backgrounds.At the same time, you must possess the ability to question research participants about sensitive behavioral issues and also the ability to communicate clearly and effectively. 3. Medical Support Teaching Assistant Medical Support Teaching Assistant is also one of the great career paths in the healthcare industry. Here, you have to take the responsibility of a general Teaching Assistant for a year.To qualify for this post, you must be at least a Level 2 qualified Teaching Assistant and must possess prior experience helping diabetic children and have a good knowledge of the KS1 curriculum. 4. Clinical Assistant As a Clinical Assistant, you must be dedicated to providing accessible testing for all. It’s important for you to be self-motivated in order to face clients to help run COVID testing clinics.Here, you need to comply with safety policies, answer patients’ questions, run test results for COVID 19, register patients in a drive-up setting or on-site, and much more. 5. Back Office Medical Assistant Back Office Medical Assistant is another best paying job in the Medical Assistant industry.Your main role would be monitoring the inventory of medical supplies, ability to utilize computers, conducting birth control, providing information to patients regarding birth control, assisting doctors with examinations, setting up exam rooms, etc. At the same time, you must believe in work-life balance and how to maintain the same.  The Final Thoughts Is medical assistant a good career path in 2021? I have tried my best to explain to you why being a medical assistant is a great career path for you and how you can benefit from the same. The above-listed information will help you to start your career in the healthcare industry. Besides, let me know your queries in the comment section below if you develop any while reading this blog.Read Also:Is Consumer Durables a Good Career Path Is Commercial Banks A Good Career Path Is Commercial Banks A Good Career Path Is Metal Fabrications A Good Career Path Is Energy A Good Career Path? - A Detailed Guide

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