» What is economics?
way of teaching (Economics) is concerned with the production and distribution of goods. It will investigate the processes and relationships which are of general or individual economic nature. Economic processes are especially always considered here with regard to state conditions. Especially in today marked by the globalization time, economic considerations, however, are not only bound to national borders, but also globally instead. The scarcity of resources is to be regarded as fundamental problem of economics. Therefore the task of economists is to observe and analyze the markets and eventually overcome the problem of resource shortage.
Unlike in Business Administration in Economics are not individual
Company at the center of attention. The behavior and interaction of firms interested here only in relation to the impact of operational processes on the overall economy. The economic theory on which the economics is based, can be divided into microeconomics and macroeconomics. While the Microeconomics deals with the functioning of individual markets, the economic events of an economy as a whole subject in macroeconomics.
» The economics degree
Economics is supposed to be a university degree, but can now be studied at several colleges. The basic study of economics coincides generally with the business administration. Budding economists are taught and vice versa business aspects. The two studies, however, differ from one another at the very point that economics is more oriented economic theory and policy, and therefore less practical.
While the basic knowledge is taught in basic studies, such as the basics of business and economics, law, accounting, human resources management, statistics and mathematics, as documented events of the General Law, the Special Economics, Finance, General Business Administration and an elective course in the main study. As electives such areas as development economics, Theoretical Statistics, environmental economics or development policy and international cooperation are possible.
After nine semesters of study time studying can finally be completed with a diploma. The standard period of study of a Bachelor's degree is approximately 6-8 semesters.
» The professional fields for VWL
While economists specialize on individual farm phenomena, economists are mainly employed there, where inter-enterprise economic aspects or even the economy as a whole is the focus of attention. The job market for economists has evolved to an extent in recent years that mainly in five areas most vacancies are found specifically in higher education and research in the economic and human resource consulting, in government and in the banking industry.
Generally, there are significantly fewer jobs, which specifically looks for economists. But economists can also certainly apply to business jobs, if they have the required qualifications. Good business management skills, especially in the area of controlling and accounting, may significantly increase the chances of being hired. Career Options for economists there is, inter alia, economic policy, economic planning, but also in accounting and corporate accounting, in industrial and service companies, public institutions and banks.
» Future prospects for economics students
The starting salary for economists in the public service is about 2250, - Euro per month. Civil servants earn economists beginning approximately 2850 € per month. In the private sector the lowest salary level is about 20,000 euros a year. These figures, however, are only approximate and can vary from one applicant to another, from position to position and from company to company, of course. Due to the high competition of competitors and the various professional fields, it is recommended in addition to studying as much experience and additional skills to collect as possible.
This includes internships at home and abroad, semester abroad, language skills (especially English), computer skills and other skills that might be helpful for the future profession. In addition to in-depth knowledge and the so-called soft skills are more important now, however, such as team orientation and communication skills.
