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An economics degree can appear to be a high-specialized degree that does not have other potential applications for business. This leads to hiring managers turning away tons of high-quality job candidates simply because they do not think they qualify for the job. However, while pursuing a degree in economics, college students learn an array of skills that could actually be incredibly useful in the business world. If you are a hiring manager, college graduates with economics degrees could prove to be some of your best hires. Find out why you should consider hiring someone with an economics degree below.
Data Analysis
Economics majors spend four years becoming data analysis experts. Economics work requires students to analyze complete data sets to identify trends. Thus, these students could be the perfect hire for a data analyst position. They will cost you much less than career data analysts would too. Data analytics is a crucial component for success in today’s business environment. Hiring economics majors can actually help improve data analysis processes at your company, because they have the competencies these efforts require.
Supply & Demand
Economics students learn a great deal about supply and demand. This is clearly a useful skill for work in corporate America. An economics degree is earned through years of supply and demand research and theory. If you are the hiring manager for a retail business, in particular, hiring an economist could prove to be incredibly beneficial to your sales figures. Your company will be better able to anticipate supply and demand. That can have broader implications for business operations improvements as a whole. This is certainly something to consider when deciding whether or not to hire a college graduate with a degree in economics.
Critical Thinking
Earning a degree in economics requires a great deal of critical thinking. That is why economists have some of the best critical thinking skills out of all college graduates. Economics degrees are earned through years of critical thinking about the limits of data analysis. Students are required to think critically about the broader effects data analysis results can have on society and business when put into action. Critical thinking skills are one of the most important things to look for in potential hires. That makes economics degree holders some of the best talent to hire.
Communication
Job candidates with an economics degree will also have vast experience in communicating their research finding. This helps them to develop top-notch communications skills before they ever even enter the workforce, which makes them excellent candidates for recruiting. Communication skills are essential for performing everyday work duties. They also help enable these workers to explain complicated data findings or other information to their colleagues in a way that is easy to understand. These communications skills are invaluable in any corporate environment, which makes economics majors a very smart hire.
Cultural Sensitivity
Economics majors are much more aware of different social and cultural sensitivities and the ways that they impact business. An economics degree course of study incorporates lessons about the different ways in which language and meaning are impacted by social and cultural contexts. Lessons in cultural differences are not something you will find other college graduates have experienced. This cultural sensitivity is crucial in today’s globalized economy and corporate business operations. That makes economics degree holders very promising job candidates.
Hiring managers are always looking for unconventional ways to find the best job candidates possible. One place to look is the economics department of your nearest university. College graduates with an economics degree earn an incredible array of useful skills for corporate work in particular. Consider the skills earned by economics students detailed above. These skills should provide you plenty of reason to hire an economics graduate as soon as you have the chance, or at the very least, to let them through the resume screening portion of your hiring process.
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