Economics

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Are you curious about how economies are run? How it affects our lives? Did you know that economics is more a social science revolving around choice, scarcity, opportunity, and society?

Pathway
Economics is also often offered as part of a joint or combined honors degree, paired with subjects including computer science, engineering, history, law, sociology, management, mathematics, modern languages and politics.
Subject Focus

SPM

  • Basic Economics
  • Additional Mathematics
  • Entrepreneurial Studies
  • Commerce
  • Principles of Accounting

University

You will combine economic theory with empirical investigation, using statistical techniques to investigate questions in public policy and the business/financial fields.

Applicants should have an aptitude for numbers and IT along with an ability to analyze problems and an enthusiasm for understanding current affairs and the world around you.

The economics degrees can come in BA and BSc forms.

BSc in Economics: likely to focus more on mathematics, statistical theory and techniques for the application of mathematics in economic theory.

BA in Economics: usually math combined with more qualitative modules, sometimes in related social sciences fields such as sociology and psychology.

Personality Type

Basic common sense mixed with good logic is key to this role.Common skills gained from a economics degree include:

  • Critically analyzing complex data sets
  • Constructing and presenting arguments
  • Approaching issues from multiple perspectives
  • Presenting complex information to audiences unfamiliar with subject
  • Strong numeracy and statistics skills

Myers-Briggs: ISTP, straightforward and honest people who prefer action to conversation.

Find your Myers-Briggs personality type here.

Holland Vocational Code: ICE  (Investigative, Conventional, Enterprising)

Find where you belong in the RIASEC model here.

Career Info

Your career options in this field are wide as they are varied, an economist career is extremely valuable in the 21st century.People with economist careers studies how society distributes and utilizes resources.You can enter the field of finance, consultancy, actuary, auditing, trading, banking, mining, manufacturing, insurance, retailing, entertainment, education etc almost all facets of the business world.

Work Environment:

As an economist, you could study society in terms of how resources are distributed, analyse economic trends and forecast on various issues like energy costs, inflation, business cycles, employment levels etc.

Salary
Entry-level: RM 1,500 – RM 2,500
A junior role will largely involve research into market structures and dynamics, competitor strategies, customer needs and other things.Professional: RM 4,500 – RM 7,500
Job Demand

Most consulting engagements require a mix of junior and senior consultants.In Malaysia:The latest World Bank report highlights the recent conclusion of the Trans Pacific Partnership (TPP) agreement as an important commitment on structural reforms that may further increase output potential in the medium term.

Overseas:

An economics degree will boost your employability in many areas, regardless of the industry you work within. This reflects strong demand for highly numerate graduates throughout the global labor market, and the widely transferable analytical and problem-solving skills developed by economics students.

USEFUL LINKS TO ORGANISATIONS

Malaysian Professional and Business Association

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