The Economist Career

CAREER DESCRIPTION

ECONOMIST -    An Economist is a professional in the social science discipline of economics. An economist has also been defined as an expert or specialist in economics. He or she is an expert who studies the relationship between a society’s resources and its production or output. An economist gives expert opinions and does researches to help shape many policies which include interest rates, tax laws, employment programs, international trade agreements and corporate strategies.

 

SKILLS REQUIREMENT

Set of skills needed to be successful as economists are:

      Numeracy skill

      Analytical skill

      Ability to communicate well

      Capacity to grasp broad issues

TRAINING REQUIREMENT

A professional who works in one of many fields of economics or who has an academic degree in economics is widely considered an economist. The possession of a bachelor’s or master’s degree in economics from a university is considered the minimum credential for being an economist.

EMPLOYMENT OPPORTUNITIES

Economists are employable in the public sector, research firms, banking sector such as the Central bank of any country, World Bank, tertiary institutions as lecturers etc. They can also act as private consultants on economic issues.

BUSINESS ADMINISTRATION/MANAGEMENT

COURSE DESCRIPTION

This is a program of studies that provides general knowledge of business principles and practices as well as management principles and practices. It is a course of study that teaches how to coordinate human material and financial resources to accomplish organizational goals. It provides knowledge on how to budget, organize, plan, hire, direct and as well manage various organisations. Business administration/ management is a popular career choice because of its demand in almost every industry.

SKILLS REQUIREMENT

v    Ability to build and lead teams

v  Ability to coordinate activities

v  Ability to pay attention to details

v  Communication skills.

TRAINING REQUIREMENT

The course can be studied both in polytechnics and universities with Diploma and Bachelors of science as the least qualifications respectively. Being a member of a Professional Institute of Management will also be a plus.

EMPLOYMENT OPPORTUNITIES

The world of business administration offers students several areas of specialization which include Human Resources and Finance, marketing, sales and operations. Job opportunities can be found in but not limited to public sector, banking, health care, insurance/investments and tourism/hospitality.

Graduates can also be managers of their own business.

The Actuary Career

COURSE DESCRIPTION

Actuarial science is a branch of mathematics and statistics that focuses on risk and managing risk. It is the discipline that applies mathematical and statistical methods to access risk in the insurance and finance industries. Actuaries or actuarial scientists are professionals who analyse the financial impact of risk, particularly looking ahead far into the future. They use skills in mathematics, economics, finance and statistics to study uncertain future events, especially those of concern to insurance companies, and employee benefits such as health insurance and pension plans. Actuarial scientist is needful in calculating the risk associated with a given accident or disaster.

SKILLS REQUIREMENT

A prospective actuarial scientist needs to possess some of the skills below:

v  Solid mathematical skills

v  Excellent analytical skills

v  Understanding of business

v  Superior computer skills

v  Excellent communication skills

v  Self-discipline and determination.

TRAINING REQUIREMENT

Pursuing a career as an actuarial scientist requires at least a Bachelor of Science degree in actuarial science in a university. Professional certification can be obtained through professional actuarial bodies such as The Institute of Actuaries of Nigeria and The Institute of actuaries in England and Scotland.

EMPLOYMENT OPPORTUNITIES

Most actuaries work for insurance companies. They can also work for investment firms, pension funds administrators, mortgage lenders and other established companies in the process of making calculated decisions. They can also act as private consultants.

THE BANKING CAREER

CAREER DESCRIPTION

Banking has been generally defined as an activity of accepting and safeguarding money owned by other individuals and entities and then lending out this money in order to earn a profit. It is business of managing a bank. A Bank therefore is a financial institution where one can place and borrow money and take care of financial affairs. Someone that conducts the business of banking is a banker.

The impact of banking sector in any country cannot be over-emphasized. Bankers mobilize the idle savings of the economy and provide finances to development works, loans/funds to finance businesses etc.

SKILLS REQUIREMENT

Some of the skills needed for success in the banking career include

v  Mathematical skills

v  Communication skills

v  Interpersonal skills

v  Honesty and integrity

TRAINING REQUIREMENT

The training requirement includes diploma and degree certificates in banking and finance, accounting or economics in polytechnics and universities as the case may be. Diploma certificates and university degrees are obtained in polytechnics and universities respectively. Being a member of a professional banking organisation may also be needed.

EMPLOYMENT OPPORTUNITIES

Anyone careering in banking can work in any bank such as Central Bank of a country, Mortgage banks, Commercial Banks and any other financial institutions.