Economics in Business and Finance

How economists work in consulting, banking, investment and corporate strategy, and the skills businesses value.

Many economics graduates work in the private sector.

Roles

Management consulting: analysing markets, competition and strategy for clients.
Banking and investment: research on economies, industries and companies, credit analysis and risk management.
Economic research at banks and brokerages, producing forecasts for clients.
Corporate strategy: pricing, market entry and demand forecasting.
Insurance and actuarial roles.
Competition and regulatory economics: advising firms on antitrust and regulation.

Skills businesses value

Analytical thinking and problem-solving.
Quantitative skills: data analysis, Excel and programming.
Communication: presenting insights clearly.
Commercial awareness.

Additional qualifications

MBA programmes.
CFA (Chartered Financial Analyst) for investment roles.
FRM for risk management.
Actuarial exams.

Salaries

Private sector roles, especially in finance and consulting, often pay more than public sector or research roles, though with longer hours in some cases.

Economics thinking in business

Concepts like opportunity cost, marginal analysis, elasticity and game theory help businesses make better decisions.

The pricing project

An economist at a consumer goods company studies how sales respond to price changes in different regions. She recommends a pricing strategy that raises revenue without losing many customers.

Thinking economics is only for government jobs

Many economists work in consulting, banking, investment and corporate strategy.

Key takeaways

Economists work in consulting, banking, investment and corporate strategy.
Businesses value analytical, quantitative and communication skills.
MBA, CFA, FRM and actuarial qualifications can help.
Economic concepts guide business decisions.