You need to read this article in detail to get a clear understanding of the scope of Economics in Pakistan. Article answers the basic question of ‘What is the scope of Economics in Pakistan?’. It also provides the latest details of the job market, career, salaries and opportunities after graduating in Economics.
Economics is defined as the study of production and distribution of services and goods. In fact, students that graduate with a degree in economics are called economists. Economists are experts.
Pursuing a degree in Economics is one of the top career options after fsc commerce in Pakistan. In fact, career counselors highly recommend Economics as a major along with finance and accounting during bachelors.
They provide key insights regarding the economy. They predict pricing and play an important role in government policy-making. Economists tend to specialize in specific fields. Hence, certain economists discuss the economic foreign policy of countries. Other economists have a keen interest in the stock market and focus on import and export of industries.
Economists are typical researchers. They are keen observers of the economy. Third World countries require good economists. Economists provide detailed analysis of the business spend and can provide key insights for economic growth.
Economists also prepare reports. These reports are used to make policies.
Scope of Economics in Pakistan after graduation
A variety of different industries hire graduates with a degree in economics. The private sector hire economists in their finance and accounting departments. They provide key insights to be economical cycles of the business.
Government institutes hire economists. In fact, the government of Pakistan has a variety of different departments that require dedicated economists. The institute of economic affairs focuses on analyzing the economic situation of Pakistan.
The bureau of statistics also hires economists. These students work with statisticians to provide key insights regarding different commodities markets. This particular government department also publishes some very key reports on an annual basis.
Interestingly, with so much influx of jobs in this field, students that graduate with FSC pre engineering also come into this field of study. Moving forward as an Economist is one of the main career options after fsc pre engineering students in Pakistan.
The banking sector is another growing industry for economics. Banks hire economy majors to help them understand different trade deficits and service portfolios. Students with a degree in economics help build the economic infrastructure and service portfolio of banks.
Different NGOs in Pakistan hire economic majors for different projects. Extensive projects take place in Pakistan to understand the economic trends.
Companies that build applications for online trading hire economists and computer experts. The economists help build the data for end-users to make better decisions. Artificial Intelligence companies hires Economy majors and computer engineering experts. Scope of computer engineering in Pakistan after graduation is also very promising. They are getting hired for the data analytics requirements.
In fact, Pakistan is one of the top five countries where extensive micro economy projects are taking place. Research is being done. Different organizations want to understand how to alleviate poverty and improve the economic levels of a society. Economists play a key part in these projects. They do extensive research in the field. They also generate reports that provide key insights.
Jobs for economics graduates in Pakistan
This section answers the important question. What can I do after BS Economics? Jobs for economic graduates in Pakistan is increasing per year. Private and public sectors require Economic experts in their relevant departments. It is imperative for graduates to have a sound understanding of the financial system to apply for government related jobs.
Students that pursue economics get to learn about politics and business as well. They get to learn statistical models and economical models for success.
The following below are the market sectors that provide jobs for Economic graduates in Pakistan:
- Investment banking
- Financial sector
- Government Economic Cells and Departments
- Insurance Companies
- Private sector – Finance and Accounting Department
- Risk Assessment companies
Economics salaries in Pakistan
A fresh graduate tends to make an average salary of Rs. 25,000 to Rs. 40,000 per month. However, if you are an economist with a specific niche then the salary drastically increases. So for example, if you are an expert in stock markets, then many of the stock market companies will hire economists at a very high package.
Many of the economists working in investment banking sector make around Rs. 200,000 per month. These are experts with several years of experience.
Careers in economics in Pakistan
The following are the careers that Economy majors go into after graduation:
- Research analyst
- Insurance underwriter
- Budget analyst
You have to enrol in a bachelors program in economics. The majority of the universities and colleges in Pakistan offered a two-year as well as a four-year bachelor’s program.
Scope of M.A. Economics in Pakistan
All experts recommend pursuing a Master degree in Economics. Some colleges call it a Master in Arts degree. Some universities offer a Master in Science degree. However, the degrees are similar. A master level degree is mandatory if you want to further understand economics.
Remember that a bachelor level degree is just the first step. You want to know more Economics. So if you want to be known as an expert, we highly recommend completing an MA Economics.
The scope of MA Economics in Pakistan is huge. In fact, many of the companies recommend having a Master level graduate.
Scope After MA Economics
So you have finally graduated with MA Economics. Congratulations. Now the question is – what is the scope after MA Economics. There are many core routes after graduation with a master degree.
- PhD in a particular field of Economics
- Research grants to solve economic problems in the world
Best university for BS economics in Pakistan
The best university for BS economics in Pakistan is Quaid-e-Azam University situated in Islamabad.