How to Pursue a Career in Global Economics

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The world economy is bigger and more interconnected than ever before. Decades ago, the Internet opened up entirely new international markets, and since that time, global economics has only grown more sophisticated. Economics and world affairs are closely linked, and economics often plays a major part in conflicts and even wars. Pursuing a career in global economics means learning about these interdependencies and potential conflict points and analyzing them on social and political levels.

What Is International Economics?

First, let’s define global (or international) economics. Simply put, global economics is the study of the global, international economy, which is the economic interaction and interdependence between the most economically influential countries in the world. The global economy also refers to economic development and movement in other countries that don’t carry as much influence.

Globalization and international trade have created both prosperity and interdependence between countries worldwide, and what impacts one country financially could have impact all around the globe. In effect, the economies of the world act together as a single, unified entity. Global economics is the study of this phenomenon.

What Qualifications Do You Need?

Achieving a successful career in global economics isn’t easy — it requires plenty of education, training, and hard work — but the rewards can be considerable.

First, you’ll have to obtain a Bachelor of Science or Bachelor of Arts in Economics. These are actually two distinct degrees:

A Bachelor’s of Arts, or B.A. is more suited for those students focusing on answering economic questions and solving problems, especially when related to societal issues. A Bachelor’s of Science, or B.S., is more quantitative and analytical in nature, and is better suited for those with skills in mathematics and other sciences.

Graduates with a B.A. in economics often go on to further study in the social sciences, whereas those who choose to go further and earn their Ph.D. in economics usually opt for the Bachelor’s of Science first.

This will give aspiring international economists the basics they’ll need for the next step in their education: problem-solving, analytical writing and editing, public speaking, language proficiency, critical thinking, learning about cultural differences and conflicting points of view, and so on.

You will also need a bachelor’s in international studies, and an MBA with a specialization in international business. Then you’ll probably want to pursue an internship — more on that further down.

What You’ll Learn

Global economics is a broad discipline that requires a wide variety of studies. For example, in the MBA program from Villanova, students will learn about the global political economy, global strategic management, international investments, international monetary systems, and ethics related to international business. Courses will also cover data analysis, team leadership, corporate finance, and a wide variety of other topics.

Getting an Internship

Is it possible to get an internship in international economics? Absolutely.

One of the best ways to learn more about global financial markets is to take an economics internship overseas. A foreign internship helps students take a different perspective, learn the policies and services of another country, and otherwise gain insight they might not in an internship at home.

Aspiring economists can take on internships in a variety of places, including:

• Teaching assistant positions at a college or university
• Work for a bank or tech consultancy company
• An administrative position in the public or private sector
• Research projects in universities or laboratories

Graduates often turn to Europe to look for internship positions, as the EU is traditionally very welcoming to foreign students seeking education about their policies. Countries like Thailand, Kenya, Brazil and China are good destinations for graduates with an interest in economic development and issues like gender and wealth gaps.

South Africa and Australia are home to some innovative research programs being conducted that will appeal to those interested in data analysis. These are only a few of the places you can look when hunting for a great internship.

Working as an International Economist

Once you’ve launched your career as an international economist, opportunities are likely to pop up everywhere. Economists work in a wide array of jobs, including financial analysts, risk managers, actuaries, political analysts, import/export specialists, writers or journalists in the field of economics, or researchers.

Economists find themselves suitable to find work in a wide variety of jobs, which might include:

• Finance and banking companies
• Investment companies
• Multinational corporations
• Political organizations, government departments, and/or foreign services
• Global organizations like the World Bank, International Monetary Fund, or United Nations.
• Non-government organizations (either locally or abroad)
• Academic institutions

And that isn’t all. A degree in economics can also lead to jobs like stockbroker, or business manager; or work in the fields of business intelligence, law, or international development. No small number of economists choose to become entrepreneurs and start their own business — a task to which their education leaves them well-suited.

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This content is sponsored by Ryan Kh.

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