Economics


Career Objectives

Its objective is the economic growth and development of the country, region, locality or company through the management of their wealth.


Professional Profile

Science focused on the *management of production, distribution and consumption of the goods of a country.

He proposes strategies and public policies that allow reaching greater levels of growth and prosperity, searching for the most effective methods to meet the material needs of individuals in society, and allocating the resources that are limited.

His training includes studies of the fundamentals of the economic theory, the main currents of economic thought, the historical process of the economic changes and the *qualitative and *quantitative methods of analysis and the *economic management.

He is prepared to analyze and interpret the economic development, national and international, and the environment of the company in which he can perform.

He applies the economic theory to specific problems, using analytical and *quantitative tools.

He works on global, sectoral or regional economic activities, whether within an organization or as an entrepreneur.

As Social Scientist

The economist must be an expert of the economic and social reality (Sociology) both national and international.

He studies, *analyzes and *interprets social phenomena (human behavior) that are related to economic variables.

For that, he investigates and analyzes economic, *financial and social phenomena and their relationship with the activities of production, distribution, exchange and consumption of goods and services in order to propose alternatives for the proper use of resources.

This is achieved by making use of his theoretical knowledge and the analysis of reality resorting to the supportive instruments provided by mathematics, statistics, computers and other analysis tools, working with economic information records and interpreting them.

He emphasizes intellectual activity through logical thinking and the ability to relate and evaluate data and processes.

As a Researcher in Economics

He is present in the formulation and proposal of *development policies, formulation of social policies, the study of economic and social projects in the various spheres of the regional and local development and foreign trade.

He studies and manages *economic and *financial functions of the State, local governments (regions) and communities.

He creates and evaluates *investment projects and monitors their execution.

He develops economic-financial budgets of state agencies.

He studies social and economic indicators of the country or region.

He studies employment and *public investment.

At the company level

This objective is to analyze the environment of the company, to plan the future of *markets, and achieve an effective positioning of the company in its environment.

He perceives and anticipates the changes that are taking place in the economic reality of the country and how these will affect the company or organization in which he works, to take effective measures (business vision).

He is qualified to confront the growing and diverse business opportunities offered by the markets efficiently (performing analysis with *quantitative methods).

He has knowledge of the laws that control the production, flow, distribution and consumption of wealth.

Interview with an Economist

“Within my management, I have experienced complicated times, such as the Asian financial crisis, or now with the price increase of petroleum and the crisis of the Middle East”.

“There are no longer isolated points in this field, because everything is connected. The Asian or Middle East crises are realities that have to do with the economy of any country. What about the price of oil!?”.

English is their official language and must be followed with all their specific terminology.

Economy remains the same, but as a result of a massive digitalization of economic instruments and their channeling through the Internet, it is turning faster.

Time ceased to be a retarding factor and distance lost all significance.

Nowadays it is possible to operate with clients and suppliers located anywhere in the world.


Specific tasks or activities carried out in the profession

At government level, he shapes and proposes development policies and social *policies.

He carries out study of economic and social projects for regional and local development and foreign trade.

He studies and manages the economic and financial functions of the State, local governments (regions) and communities.

He creates and evaluates *investment projects.

He prepares economic-financial budgets for State agencies.

He studies the employment and public investment.

At company level, he *plans, *organizes, *directs and control the *Management of Business Organization in order to guide it to the successful completion of its objectives.

For all his analyses, he uses analytical and *quantitative tools.


Occupational Field

He will be able to perform in a wide range of areas, being able to design and implement public policies, to take private initiatives, run businesses, as well as engaging himself to education or research.

The economist is qualified to work in the areas of the private and state sector as executive, businessman, manager and business advisor of the large, medium-sized and small enterprise.

Such as:

-Agencies that promote Economic activity

-Banks

-Finance companies

-Pension Funds Administrators

-Health Insurance Institutions

-Insurance Companies

-Companies of the industrial field, etc.

-As well as Teaching or Research


Estimated time of College years

Around 5 years, according to the program of the institution that imparts it.


Specific tasks or activities carried out in the profession

General Training Courses

-Social Psychology, Theory of Organization, Theory of Society, Concepts of Law, General Systems Theory, English.

Basic Training Courses

-Algebra, Calculus (3 semesters), Computer Science, Introduction to Economics, *Statistics, Accounting, *Costs.

Professional Training Courses

-International Trade, Economic Development, Fiscal Economics/Fiscal Policy, Monetary Theory, *Econometrics, *Marketing, *Market Research, Economic History, Price Theory, Social Evaluation of Projects, Project Formulation and *Evaluation, *Macroeconomics, *Microeconomics, among others.

Specialties

*Finance division and *Capital Market.

*Marketing

-General Information Systems

-International Business

-Economy of the productive sectors

-Health Sectors

-Foreign Trade

-Strategic Planning


Vocation, Skills and Interests required in the candidate to this career


Interests

-Interest in the observation of social and commercial situations.

-Motivation to discover projects that will cover unmet needs in the population.

-Attraction to the world of exchange.

-Interest in knowing details of arrangement, coordination, functioning and implementation of a system related to production and commercialization.

-Curiosity for the projects that are being developed in the region.

-Interest in Economic History of countries, how they overcame poverty despite the wars, how they have done to arise, which have been the factors that influenced.

-Which are the natural resources of the country, which have been exploited and the ones that have not been exploited yet.

-What do countries produce, with whom they exchange and which products.

-I have the energy to undertake different and productive things.

-I like active and entrepreneurial areas.

-I like management and the strategy with which the projects are approached.


Skills

-Numerical Reasoning, that is, ability, speed and accuracy for calculus, to manipulate numbers and solve quantifiable problems.

-Facility for mental numerical operations and estimation of quantities with low margin of error.

-Logical Reasoning, that is, ability to analyze complex proposals or situations, anticipate consequences and be able to solve the problem coherently, just as you do in strategy games.

-Analytical Capacity, that is, ability in the study that is performed of a reality or situation, distinguishing the facts, describing them and seeing the relation between them.

-Tendency to the use of guidelines (sequences), classification and detection of existing relations, in the study and understanding of something.

-Synthesis capability, that is, be able to conclude something in relation to a situation or reality in which many factors intervene.

-Symbolic Interpretation ability, that is, facility to interpret and collect information from a situation or reality shown as symbols, graphics and schemes.


Vocation

Plan, manage and organize projects that create wealth and provide greater economic and social well-being to the population.

Or any specific dream or longing which feels involved or oriented towards this direction.


Candidate Personality

-Entrepreneurial spirit

-Versatility for teamwork

-Methodical

-Persuasive

-With sense of opportunity

-Practical and specific focused on specific outcomes.


Work Scope

Urban

Office environment, with high level of management

Competitive environment and pressure

Lot of social contact

Requires availability to travel


Related Careers

-Public Administrations; Finance; Political and Administrative Science; Business Administration.


*Glossary of Terms

*Administration: Direct, conduct, lead a company.

*Analyze: Method of understanding that starts by focusing the whole to end separating it into its basic parts and then to see the relation between those parts.

*Goods: Belongings of a person, his possessions, his things.

*Costs: They analyze the costs of organizations, identifying the types of existing costs within a company, whether from production, broken equipment, etc. implementing different systems for their calculation and making it useful in decision making.

*Qualitative: Qualitative Methods: Procedures and strategies for analyzing the characteristics of reality.

*Quantitative: Quantitative Methods: Procedures to express characteristic features of reality through numbers.

*Direct: Conduct.

*Economic: Economics: Science which its object of study is the social organization of the economic activity.

*Econometrics: Branch of the Economic Theory that attempts to assess the main relationships between the multiple variables of an economic model through statistical and mathematical techniques.

*Statistics: Mathematics of the pooled data and the methods used to describe and analyze numeric information.

*Project Evaluation: Useful concepts and methods in decision making associated to the economic aspects of a project. –Alternatives Analysis

-Depreciation (Decrease of the value or price of equipment). –Taxes.

-Financing. –Removal and replacement of equipment.

*Financing: Finance: Finance deals with the collection and determination of the cash flow (inflows or outflows of money) required by the company, in addition to the distribution and management of those funds in order to maximize the economical value of the company.

*Management: Conduct the inquiries and procedures to carry out a project.

*Interpret: Take deductions from a fact.

*Public Investment: Capital utilization in productive uses of the Nation.

*Investment: Utilization of capital in productive uses.

*Market Research: Process of collecting, recording and analyzing the information related to the commercialization of goods and services.

*Market: Public area intended to trade (purchase and sale) products and services.

*Macroeconomics: With regard to the production and consumption of the wealth of a country and the problems related to the level of employment.

*Marketing: Branch of business administration that studies all the functions a company must perform to investigate the needs of the consumer and translate that information into the creation, production and introduction of new products to the market, for which it is necessary to develop activities of market research, product planning, sales promotion, sales and distribution.

*Market: Set of transactions that are performed between purchasers and sellers of a good or service.

*Capital Market: A set of financial institutions which channel the supply and demand of financial loans. The companies are commercial banks, stock exchanges, etc.

*Microeconomics: Relative to the interaction of *supply and *demand in competitive markets; determine the prices of each good, the level of wages, the profit margin and the changes in income. All this, considering that citizens will spend their income trying to obtain the maximum possible benefit and businessmen will try to obtain the maximum possible profit.

*Organize: Provide the arrangement and coordination needed to carry out something according to the plan.

*Plan: Establish what is going to be done.

*Policies: Way to address an issue to reach a particular purpose.

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