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As Thomas Carlyle once stated Economics is the dismal science He was inspired to coin the phrase by T R Malthuss gloomy prediction that population would always grow faster than food dooming mankind to unending poverty and hardship Levy That hasnt happened yet and economics in reality is an art - the art of trying to satisfy infinite needs with limited resources In other words an economist studies how society uses their limited natural resources to fulfill the insatiable needs of society They study how we distribute scarce resources such as land labor raw materials and machinery to produce goods and services OOH htttpwwwblsgovoco They conduct research collect and analyze data monitor economic trends and develop forecasts They research issues such as energy costs inflation interest rates imports or employment levels In reference to the Occupational Outlook Handbook economists become involved as advisors in different sectors such as insurance companies banks and large industries Economics is a science which draws upon history philosophy and mathematics to deal with subjects ranging from how an individual household or business can make sound decisions to societal issues such as unemployment inflation and environmental decay As a result economics is widely recognized as a solid background for many jobs and professions in business government and the law According to an article released by CNNfn the top three types of jobs for economics graduates with a bachelors degree are 1 top and midlevel managers executives administrators 2 insurance securities real estate business services and 3 accountants auditors and other financial specialists Schwartz In reference to the Occupational Outlook Handbook economists held about 134000 jobs in 2000 Private industry provided about 9 out of 10 jobs for salaried workers particularly economic and marketing research firms management consulting firms banks securities and commodities brokers and computer and data processing companies A wide range of government agencies provided the remaining jobs primarily for economists Governmental jobs include sectors of industry
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