Career Prospects for Economists
The labor market for economists is characterized by diversity and has changed significantly in recent years. The traditional image of economists is determined by market analyses and market predictions. Today however, economists’ qualifications are often demanded to solve business-related issues.
Traditionally, economists work in research and educational faculties (economic research institutes, research departments in the banking and insurance sector, universities,…), political institutions (central banks, international organizations such as IWF (IMF),..) or trade associations. In a business-related context economists can also operate in consulting companies and international corporations.
In general, requirements for economists nowadays are the ability to independently deal with numbers as well as delivering concrete results when working in a team on a given task. Studies in economics at Osnabrück University are designed to impart these skills. The “Institut für deutsche Wirtschaft” (Institute for German Economy) and “Handelsblatt” (economic journal) confirmed positive career prospects for application-oriented economists.
The following list displays examples of tasks economists typically cope with:
|Employer||Field of Activity|
|Research institutes|| |
• Prediction of distribution effects caused by a “single tax” with a uniform rate of 25 %
• Empirical report on the question: “"Does the European single market improve the employment opportunities of low-skilled workers in Germany?"
• Estimating the impact of corporate tax reform on the 2009’s national budget
• Cost-benefit analysis concerning the construction of the “Transrapid”
|IWF/World Bank/WTO|| |
• Negotiation on changing debt structures in an over-indebted country like Bolivia
• Clarification of a legal dispute concerning the question “Are subsidies in the aircraft industry a trade barrier?”
|Research department of a bank|| |
• One-year economic forecast for Germany
• Forecasting the effects of the scrappage premium on the profit of German automotive companies in 2009
|Consulting companies|| |
• Consulting Deutsche Bahn AG concerning the profit outlook for a “Bahncard 75”
• Economic report on the question: “Does Microsoft violate European competition law?”
|Auditing companies|| |
• Evaluation of incentives for conservative accounting under different accounting systems
• Economic valuation of depreciation rules in the Corporate Tax Law
|Telecom companies||• Development of an optimal bid-strategy for an auction of UMTS-licenses|