When deciding which graduate course in economics to study you should think ahead to your future career. A general graduate economics program is solid training that opens many career opportunities, but if you have a particular career in mind, you may wish to specialise. If you are intent on working as an economist in developing countries, then why not specialise in development economics? If you just want as high paying a job as possible, then perhaps financial economics or econometrics is more relevant to secure that job as an analyst with a private sector financial company. You may want to work as an economist with a government. A general graduate economics course will keep your options open, but you could specialise in labour economics, industry, public finance, health or agriculture. There are many graduate programs to choose from and the career opportunities are varied. Studying a graduate course in economics will make you a highly sought after candidate for both the public and private sectors.

Which Field of Economics?

A graduate program in economics essentially offers training in analytical skills, typically including quantitative analysis, and knowledge and theory and evidence in chosen fields. Areas you are likely to study in your graduate course are: Microeconomic Theory, Macroeconomic Theory and Econometrics. However, the way in which these subjects are delivered will vary. University and Colleges that have strong research departments will probably teach their graduate courses in a more technical or mathematical way. If you are interested in a career as an academic economist, you should consider undertaking further training through a research degree such as an MPhil or PhD or you should study a technically demanding Economics graduate course offered by the more highly rated Departments.

Some Specialist Areas:

Time Series Econometrics
Social Choice Theory
Labour (employment and working of the labour markets)
Industrial organisation (how firms operate)
International Trade (analysing the flow of goods and services between countries)
Financial Economics (valuing stocks and options and the workings of financial markets).

If you chose to study a graduate course specialising in International Trade, you should expect to be studying trade theory, trade policy analysis (such as how to measure protection and how to evaluate policy reforms), commodity markets (the special features of trade in agricultural commodities, oil, operation of future markets), etc. Similarly, if you are interested in a graduate program in Development Economics you would be addressing the concerns of low income countries, with electives that address poverty, agriculture and rural households, the impact of aid, the operation of the World Bank and IMF, the position of low income countries in international trade, etc. Think carefully before you apply for your graduate course as this will determine the direction in which your future career will go.

Where to Study?

So you’ve decided you want to study an economics graduate course but which university or college do you choose? With so many university and college programs available, it is difficult to know where to start. It is imperative with graduate study that the department or faculty of your university or college has an excellent research record. If you are going to specialise in a particular area of economics then you need to be sure that you are being taught by leading academics in the field. As an international student, it is essential that the university or college you attend is somewhere you feel comfortable living.

Admissions

The good universities and colleges will require that applicants for a taught graduate program have a good honours degree in economics, normally at least a 2.1 or international equivalent, and be able to demonstrate proficiency in English.

If you want to be a high-flyer in your specialist field, then you should study a graduate course in economics. Having that extra qualification will give you a competitive edge when it comes to finding and securing the job of your dreams. Before you apply for a graduate course in economics, make sure you do plenty of research into the departments and the career destinations of particular courses. Good luck!