Business Economist

Job overview
One definition of economics is “The science of the way in which industry and trade produce and use wealth?”?.

The way in which business economists apply this science, depends on the organisation where they are employed.

They may be in business, at a university or college, or at a research centre.

What do people do in this job?
Business economic advisors are permanently employed by a large organisation.

They assemble information, analyse and do research on economic aspects affecting the financial position, growth and development of the organisation and are financial advisors to top management.

Their task is to identify areas that can be profitable to the organisation, to develop them further and also to identify problem areas and transform those into opportunities.

• Business economists at universities teach business management as a science.

They are involved in activities such as applied business economic research, continuous literary study, liaison with business economists in practice and running seminars and conferences.

• Business economists at research centres have functions similar to those described immediately above, but without the teaching commitments.
• Business economists who act as full-time professional managers are especially in demand for management posts in middle-sized and large organisations.

They are appointed as financial managers, marketing managers, production managers and general managers.

What kinds of people are suitable for this career?
Business economists' personal qualities will tend to make them suitable for one, rather than another of the employment areas listed above, but for all of them a broad interest in the business world is vital.

They must have a creative, innovative, analytical, systematic and critical approach and be strongly research orientated.

What qualifications are needed?
A first degree in economics, plus a higher degree in the same or related subjects.