Careers primarily utilising Microeconomics? (1 Viewer)

[danielvh]

Hey guys

I'm a little lost for career direction at the moment. There are a lot of areas that I'm both interested in and good at... marketing, management, microeconomics, macroeconomics, accounting, finance, international relations, IT generally (not programming though) etc.

These could all lead to many many different career paths.

But my primary interest and strength is microeconomics. I'm wondering if anyone knows anything about career options in this field whether it be externalities, market analysis, price discrimination or whatever.

Cheers

Daniel

 

[mr_shittles]

Hey guys

I'm a little lost for career direction at the moment. There are a lot of areas that I'm both interested in and good at... marketing, management, microeconomics, macroeconomics, accounting, finance, international relations, IT generally (not programming though) etc.

These could all lead to many many different career paths.

But my primary interest and strength is microeconomics. I'm wondering if anyone knows anything about career options in this field whether it be externalities, market analysis, price discrimination or whatever.

Cheers

Daniel

If you are a Microeconomics buff, the best place to get exposure to microeconomis issues would be at a an economic consultancy or at one of the state or territory departments of treasury. Typically, econnomic consultancies don't take undergraduates, so your best option would be applying to one of the state treasuries.

The microeconomic analysis you will get will typically entail some form of research into a microeconomic issue (eg. in competition policy, productivity, etc.). Alternatively, you may get exposure to cost-benefit analysis for projects in areas like health, education and transportation.

Obviously, the opportunities that you get in the workplace will be dependant on the section you end up working in, and the sorts of tasks dealt with in that area.

 

[danielvh]

Thanks for the info man!

Would this be a reasonable career path?
1) Currently in first year Econs/Commerce at UWA
2) Major in Economics, Management and Finance
3) Do a study abroad year at University of Bristol in the UK starting September next year (2nd year uni)
4) During the summer in my 3rd year, do a summer internship at a state treasury department
5) Do another internship (maybe at a different state treasury department at the end of the 4th year which is the final year.
6) Do honours
7) Try and get a graduate position at one of the state treasury departments
8) Work there a few years until I've built up the necessary experience to move into economic consulting
9) Get a job as an economic consultant, work there a few years.
10) Do a masters degree (hopefully paid for by work). Either an MBA or a masters in economics.
11) etc etc etc

Obviously, I highly doubt it will turn out this way. Plans have a way of changing. But does this sound like a good basic outline?

Any other ideas guys for careers utilising microeconomics?

Cheers

Daniel

 

[mr_shittles]

Thanks for the info man!

Would this be a reasonable career path?
1) Currently in first year Econs/Commerce at UWA
2) Major in Economics, Management and Finance
3) Do a study abroad year at University of Bristol in the UK starting September next year (2nd year uni)
4) During the summer in my 3rd year, do a summer internship at a state treasury department
5) Do another internship (maybe at a different state treasury department at the end of the 4th year which is the final year.
6) Do honours
7) Try and get a graduate position at one of the state treasury departments
8) Work there a few years until I've built up the necessary experience to move into economic consulting
9) Get a job as an economic consultant, work there a few years.
10) Do a masters degree (hopefully paid for by work). Either an MBA or a masters in economics.
11) etc etc etc

Obviously, I highly doubt it will turn out this way. Plans have a way of changing. But does this sound like a good basic outline?

Any other ideas guys for careers utilising microeconomics?

Cheers

Daniel

Wow, you have your whole career planned. Unfortunately, I'm not that far ahead in my career to give you advice on that.

There are plenty of very bright people that transfer from consulting firms to the Treasury departments because the work is more interesting (I know one person from BCG and one from McKinsey's that did that). They were both extremely bright, just didn't enjoy the long hours and what they felt was mundane work.

There's nothing to say you need to move from Treasury to consulting or vice-versa. Obviously the pay is better in consulting, but there are plenty of trade-offs. I think once you go out into the workforce, you'll find what you out what you enjoy the most and the rest will sort itself out.