Careers in Economics in Nigeria

One of the factors rocking the world is wealth. Many activities around the globe are being determined by the use and production of wealth. The wealth of the nation orbits around the term Economics. 

 

Therefore, in a layman understanding, economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth.

Much economist ink has flown to find the acceptable definition of Economics, but the most acceptable is that of Professor (Lord) Lionel C. Robbins. 

He defines economics as the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.

This definition is being accepted because it covers some aspects of economics such as wants, scarcity, human behavior, and choice.

Economics can be grouped into two major branches namely; microeconomics and macroeconomics. 

Microeconomics deals with the smaller units and components of the economy.

It relates to cost, output, production of marketing activities of firms, households, etc.  

 Macroeconomics deals with decisions of government and countries.

Duties of an Economist in Nigeria

·        Economist assist traders and businessmen to manage their profits using economic principles in their business

·        An economist present research results in reports, charts, and tables

·        Economist assist the government to determine the expected income and expenditure of a country

·        An economist writes articles for academic journal and other media

·        An economist conduct surveys and collect data

Skill Requirements to Be Successful In Economics In Nigeria

·        Communication skill

·        Math skill

·        Organizational skill

·        Problem-solving skill

·        Knowledge of social sciences

·        Good at understanding complex systems

·        Independent reasoning

·        Writing skills

·        IT skills

·        Self-driven

·        Logical thinking

Career Opportunities in Economics in Nigeria

The following are the career opportunities available for graduates in economics in Nigeria

·        Economist

·        Chartered accountant

·        Data analyst

·        Financial list analyst

·        Forensic accountant

·        Chartered certified accountant

·        Actuarial analyst

·        Local government officer

·        Quantity surveyor

Employment Opportunities in Economics in Nigeria

The following are the employment or job opportunities available for graduates in economics in Nigeria 

·        Banks

·        Insurance firm

·        Government departments

·        Academic institutions

·        Research institutions

·        Consultancies

JAMB Requirements to Study Economics in Nigeria

·        English language (compulsory)

·        Economics

·        Mathematics

·        Government or any other art subject

O’level Subject Requirement to Study Economics in Nigeria

·        English language

·        Mathematics

·        Economics

·        Any two other social science or art subject