Which area of study in Economics offers better career growth prospects?

Studies how individuals, businesses, governments and nations make choices on allocating resources to satisfy their wants and needs, and tries to determine how these groups should organize and coordinate efforts to achieve maximum output. There are multiple specialisation in the field of economics such as microeconomics, macroeconomics, investigating market structure, strategic business decision, public economics, econometric, business economics, International trade, etc. With increased demand for data analyst in business to gain competitive advantage, graduates with Econometric expertise are in huge demand. Econometric is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations. It is the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.

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Economics is a social science concerned with the production, distribution and consumption of goods and services. It studies how individuals, businesses, governments and nations make choices on allocating resources to satisfy their wants and needs, and tries to determine how these groups should organize and coordinate efforts to achieve maximum output. There are multiple specialization in the field of economics such as microeconomics, macroeconomics, investigating market structure, strategic business decision, public economics, econometric, business economics, International trade, etc. With increased demand for data analyst in business to gain competitive advantage, graduates with Econometric expertise are in huge demand. Econometric is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations. It is the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference. Therefore economic graduates with good grasp of IT tools and techniques with econometric specialization can get good job with very high salary in corporate world.

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Although, every area of Economics has a very wide range of opportunities for students because Economics is the subject that is applicable to any organization or any company. But, still, if you want to study economics at a discrete level (means if you want specialization in Economics) then I'd suggest that you take "Statistical Economics" because this branch of Economics is in demand in every giant company and govt. organization. Nowadays, companies are in hurry to hire for Statistical Economics and data scientist for data management and data mining. Hence it is my suggestion that you opt for Statistical Economics as your career option. In India, an institute named "Indian Statistical Institute" offers this course with assured placement. Hope this helps you with your career. Best of luck.

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