If you are just entering college and you want to focus your studies on a field that could give you a good chance of finding employment, then you need to choose what types of economic degrees will get you exactly where you want to be, since there is no doubt that economics is the best way to go. Always timely as a degree and as a profession, a degree in economics should open up some doors for you.
The types of economic degrees available are basically the types of academic degrees awarded from a college or a university. The first type of degree you can earn is an associate’s degree, which requires no more than two years to complete. People who opt for an associate’s are usually looking for a simple degree that will familiarize them with the basic concepts in the field of economics, so that they can apply some of the skills they learn on their job, or they just want to make sure that a degree in economics is what they want, without committing themselves to an academic career that would last four years (or more). There are, of course, some people that might choose to earn an associate’s as a second degree that will complement their primary major.
The truth is, however, that the most common of all types of economic degrees is a bachelor’s degree. The duration of such programs is typically four years and it is basically the most important step you will have to make, if you are to have a future in the world of economics. A bachelor’s will help you learn both the theoretical and the practical aspect of the job you want to pursue, whether that is an economist for private industries, an economic consultant, or an economist for the public sector. It might come as a surprise to you, but according to the Bureau of Labor Statistics, the number of economists employed by federal, state, and local governments, is greater than the number of those working in the private sector.
Once you obtain your bachelor’s, you will be faced with an important dilemma. You can either throw yourself in the market and start looking for a job relative to your studies, or you can choose to specialize more in your area of interest and opt for the more advanced types of economic degrees. Most students usually choose a master’s that will further expand their knowledge in certain aspects of the field of economics, thus increasing their chances of finding not job a job, but the job they want to. A master’s program usually lasts about two to three semesters and it costs a little more than one more year in an undergraduate level would. As for those who are more determined to become experts, they can jump to a PhD in economics, or finish their master’s first and then pursue a PhD (which is the usual case). Becoming an expert though is no easy thing, meaning that the PhD, which is on top of all types of economic degrees, should not be taken lightly. Successful completion of a PhD program will require a considerable amount of time and effort on your part, as well as a considerable amount of money.