Economics
Study the economic concepts that drive global markets and decision-making, including supply and demand, inflation, and trade. Enroll in economics short courses offered by the world’s leading institutions in collaboration with GetSmarter.
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Register for economics courses online
Economics helps us make sense of resource allocation — how we use our limited resources, like time, money, and labor, to meet unlimited wants and needs. Critical economic concepts like supply and demand, inflation, and trade provide a lens through which professionals can understand the global market.
The benefits are tangible: Jobs in business and financial operations are expected to grow 7% between 2023 and 2033, faster than the average for all occupations.1 Many of these roles demand a foundational understanding of economics. For example, financial analysts, market researchers, and business consultants rely on economic theory and models to forecast trends and make data-driven decisions.
By enrolling in economics online courses, professionals not only equip themselves with a critical skill set but also gain the analytical tools necessary for success in an increasingly complex global market.
What is economics?
Economics is a social science focused on the production, distribution, and consumption of goods and services. It also studies how finite resources influence decision-making in the global market.2 For example, should a company invest in new technology or expand its workforce? Will a government spend more on health care or education?
In economics, every choice comes with an opportunity cost, or the alternative value that is forfeit when a decision is made. For instance, if a student chooses to attend college full time instead of working, the opportunity cost includes lost income and work experience.
Through analysis of the choices that individuals and governments make regarding resources, we can better understand market trends and predict both small- and large-scale outcomes. Economics focuses on two primary areas:
- Microeconomics: The study of how individual decision makers behave regarding the economy and the implications of those choices on value and resource allocation. Related concepts include incentives, price theory, and utility theory.3
- Macroeconomics: Studies the behavior of entire, large-scale economies, like that of a country. Related concepts include inflation, gross domestic product (GDP), and unemployment.4
Careers in economics
Jobs in a variety of industries use economic knowledge and skills in their daily work to strategize, analyze, and make decisions. For many working in finance and business, an understanding of both micro and macroeconomics is useful to understand the consumer base.
Some examples of careers related to economics include:
- Economist: Conducts research, prepares reports, and evaluates issues related to fiscal policy. These professionals may collect and analyze data using mathematical models, advise businesses, and forecast marketplace trends.5
- Financial analyst: Advises businesses and individuals in decisions about spending money to profit. These professionals evaluate stocks, bonds, and other investment performance.6
- Credit counselor: Advises individuals or organizations on acquiring and managing debt. These professionals could also provide guidance on budgeting, mortgages, or student financial aid packages.7
- Market research analyst: Studies consumer preferences, business conditions, and other factors to assess potential sales for a company. These professionals help businesses understand what products people want and the prices they are willing to pay.8
- Actuary: Analyzes the financial costs of risk and uncertainty using mathematics and financial theory to assess potential events. These professionals help clients develop policies that minimize costs.9
- Budget analyst: Helps organizations plan their finances. These professionals also prepare budget reports and monitor organizational spending.10
Why should I enroll in economics short courses?
Understanding economics provides valuable insights for learners into how businesses operate, consumers behave, and government policies affect both. With these skills, participants can become better decision makers, both personally and professionally.
If you’re interested in enrolling in economics short courses, online options on GetSmarter provide a flexible learning environment in collaboration with the world’s leading institutions. With personalized support and career guidance features, enrolling in a course on GetSmarter can help take your professional life to the next level.
Sources
1(Aug, 2024). ‘Employment Projections — 2023–2033’. Retrieved from U.S. Bureau of Labor Statistics.
2Hayes, Adam. (Jun, 2024). ‘Economics defined with types, indicators, and systems’. Retrieved from Investopedia.
3(Jul, 2024). ‘Microeconomics definition, uses, and concepts’. Retrieved from Investopedia.
4(Dec, 2023). ‘Macroeconomics definition, history, and schools of thought’. Retrieved from Investopedia.
5(Aug, 2024). ‘What economists do’. Retrieved from U.S. Bureau of Labor Statistics.
6(Aug, 2024). ‘What financial analysts do’. Retrieved from U.S. Bureau of Labor Statistics.
7(Aug, 2024). ‘What credit counselors do’. Retrieved from U.S. Bureau of Labor Statistics.
8(Aug, 2024). ‘What market research analysts do’. Retrieved from U.S. Bureau of Labor Statistics.
9(Aug, 2024). ‘What actuaries do’. Retrieved from U.S. Bureau of Labor Statistics.
10(Aug, 2024). ‘What budget analysts do’. Retrieved from U.S. Bureau of Labor Statistics.
Register for economics courses online
Economics helps us make sense of resource allocation — how we use our limited resources, like time, money, and labor, to meet unlimited wants and needs. Critical economic concepts like supply and demand, inflation, and trade provide a lens through which professionals can understand the global market.
The benefits are tangible: Jobs in business and financial operations are expected to grow 7% between 2023 and 2033, faster than the average for all occupations.1 Many of these roles demand a foundational understanding of economics. For example, financial analysts, market researchers, and business consultants rely on economic theory and models to forecast trends and make data-driven decisions.
By enrolling in economics online courses, professionals not only equip themselves with a critical skill set but also gain the analytical tools necessary for success in an increasingly complex global market.
What is economics?
Economics is a social science focused on the production, distribution, and consumption of goods and services. It also studies how finite resources influence decision-making in the global market.2 For example, should a company invest in new technology or expand its workforce? Will a government spend more on health care or education?
In economics, every choice comes with an opportunity cost, or the alternative value that is forfeit when a decision is made. For instance, if a student chooses to attend college full time instead of working, the opportunity cost includes lost income and work experience.
Through analysis of the choices that individuals and governments make regarding resources, we can better understand market trends and predict both small- and large-scale outcomes. Economics focuses on two primary areas:
- Microeconomics: The study of how individual decision makers behave regarding the economy and the implications of those choices on value and resource allocation. Related concepts include incentives, price theory, and utility theory.3
- Macroeconomics: Studies the behavior of entire, large-scale economies, like that of a country. Related concepts include inflation, gross domestic product (GDP), and unemployment.4
Careers in economics
Jobs in a variety of industries use economic knowledge and skills in their daily work to strategize, analyze, and make decisions. For many working in finance and business, an understanding of both micro and macroeconomics is useful to understand the consumer base.
Some examples of careers related to economics include:
- Economist: Conducts research, prepares reports, and evaluates issues related to fiscal policy. These professionals may collect and analyze data using mathematical models, advise businesses, and forecast marketplace trends.5
- Financial analyst: Advises businesses and individuals in decisions about spending money to profit. These professionals evaluate stocks, bonds, and other investment performance.6
- Credit counselor: Advises individuals or organizations on acquiring and managing debt. These professionals could also provide guidance on budgeting, mortgages, or student financial aid packages.7
- Market research analyst: Studies consumer preferences, business conditions, and other factors to assess potential sales for a company. These professionals help businesses understand what products people want and the prices they are willing to pay.8
- Actuary: Analyzes the financial costs of risk and uncertainty using mathematics and financial theory to assess potential events. These professionals help clients develop policies that minimize costs.9
- Budget analyst: Helps organizations plan their finances. These professionals also prepare budget reports and monitor organizational spending.10
Why should I enroll in economics short courses?
Understanding economics provides valuable insights for learners into how businesses operate, consumers behave, and government policies affect both. With these skills, participants can become better decision makers, both personally and professionally.
If you’re interested in enrolling in economics short courses, online options on GetSmarter provide a flexible learning environment in collaboration with the world’s leading institutions. With personalized support and career guidance features, enrolling in a course on GetSmarter can help take your professional life to the next level.
Sources
1(Aug, 2024). ‘Employment Projections — 2023–2033’. Retrieved from U.S. Bureau of Labor Statistics.
2Hayes, Adam. (Jun, 2024). ‘Economics defined with types, indicators, and systems’. Retrieved from Investopedia.
3(Jul, 2024). ‘Microeconomics definition, uses, and concepts’. Retrieved from Investopedia.
4(Dec, 2023). ‘Macroeconomics definition, history, and schools of thought’. Retrieved from Investopedia.
5(Aug, 2024). ‘What economists do’. Retrieved from U.S. Bureau of Labor Statistics.
6(Aug, 2024). ‘What financial analysts do’. Retrieved from U.S. Bureau of Labor Statistics.
7(Aug, 2024). ‘What credit counselors do’. Retrieved from U.S. Bureau of Labor Statistics.
8(Aug, 2024). ‘What market research analysts do’. Retrieved from U.S. Bureau of Labor Statistics.
9(Aug, 2024). ‘What actuaries do’. Retrieved from U.S. Bureau of Labor Statistics.
10(Aug, 2024). ‘What budget analysts do’. Retrieved from U.S. Bureau of Labor Statistics.
