Economics has several definitions and is one of the most disciplinary courses that a student could go for. An economist is someone who studies the production, distribution, and consumption of goods and services. An economist can also be defined as someone who researches and analyzes data, monitor economic trends and develops forecasts on a wide variety of issues. Economists help companies obtain data, make forecasts and estimations relevant to their fields.
As an economist, you are required to have several skills like computing, time management, analytical skills, critical-thinking skills, math skills and problem-solving skills to enable your success in any area you choose to specialize.
In this article, we are going to list several professional courses for economists and how to apply for these professional courses.
Top 10 Professional Courses For Economists Nigeria And How To Apply
Although the certification of a chartered accountant would be limited to those with a bachelor’s degree in accounting and finance, an economist can further to his/her masters and possibly obtain the certificate as a certified public accountant. Chartered accountants are one of the most versatile professionals working in almost all fields of business including auditing, financial, taxation and general management.
Data analysts are quite technical in operation and required to be heavily skilled to operate successfuly in this field. They make recommendations about the methods in which a company or organization obtain and analyses data to improve the efficiency of data systems.
Data analysts are required to have several skills including operating several computer software like Advanced Microsoft Excel, Adobe, Google Analytics and programming languages like SQL.
Financial Risk Analyst
This is a top-level economist who identifies and analyses potential risks threatening the financial position of commercial and industrial corporations. Financial risk analysts specialize in any one of the four categories of risk which include credit, regulatory, market and operational.
Forensic Accountants are mostly related to courts and are mostly employed by government law enforcement agencies like the EFCC. They are called upon to investigate crimes relating to securities fraud and locating financiers of criminal acts. Forensic Accountants can also be called fraud investigators, forensic auditors, investigative accountants or fraud auditors.
Investment Analysts are individuals which provide information to help individuals, traders and stockbrokers make wise decisions about investments. Investment analysis requires a deep knowledge of the financial market and the ability to communicate this information to others.
Statics deals with data collection, organization, interpretation, analysis and presentation. Statisticians are quite similar to investment analysts as they gather numerical data and spot trends to make predictions. Statisticians are quite disciplined and expected to have a handful of skills including math skills, computer proficiency, a clear understanding of statistics concepts, analytical skills, problem-solving skills, ability to interpret and communicate results to non-statisticians which could be clients.
Stockbrokers or share brokers are professionals who buy and sell stocks for both retail and institutional clients through a stock exchange in return for a fee or commission.
The wage of a stockbroker is quite attractive as his/her pay is not a fixed monthly wage but dependent on the number of stocks or shares the stockbroker is able to sell to clients within the period of a month.
Actuarial science involves the application of mathematical and statistical methods to assess risk in finance, insurance, and other industries. Professionals in this field are known as actuaries and deal with the measurement and management of risk and uncertainty. Actuaries are most needed in the insurance industry as they help businesses and clients develop policies that minimize cost to the risk of an event. This means that business and clients spend less and save more in case of an unfavorable event.
Skills needed by actuaries are almost the same as those needed by other professionals listed above and they include advanced math knowledge in calculus, statistics and probability, computer proficiency, analytical skills, problem-solving skills and so on.
Operations Research Analyst
Operations research analysts are professionals who use advanced techniques such as optimization, statistical analysis, and data mining to develop solutions that help businesses make better decisions and operate efficiently.
Credit Analysis is simply assessing the creditworthiness of individuals or companies to honor its financial obligations.
Credit analysts are top professionals and require several high-end skills to operate effectively. These skills include problem-solving skills, math skills, numerical skills, computer skills, analytical skills, and communication skills.
Financial analysts are important professionals in every company or organization as they research macroeconomic and microeconomic conditions along with company protocols to recommend a course of action which might be buying or selling a company’s stock.
Real Estate Analyst
Real estate analysts are professionals who evaluate real estate investment opportunities through financial modeling and market research. They take note of trends, perform research and use several algorithms to determine real estate investment opportunities.
Pricing Analysts are professionals who determine prices of products through analyzing market data, trends and competitor prices. They help determine an optimum price to boost sales and increase profits for the company or organizations they work for. Several skills are required to be successful in this field and they include analytical skills, math skills, problem-solving skills, computer proficiency and so much more.
Operation management involves the planning, managing, organizing, supervising and controlling the production and manufacturing processes. This professional course is aimed at educating the student at maximizing efficiency and deals mostly with supply chain management or logistics.
How to Apply For Professional Courses In Economics
To study any of the professional courses listed above, Economists would obtain certifications from any professional body which would require the said economist to pass a professional exam. However, some universities in Nigeria offer these courses in the Master’s degree option which mean you would have to apply for their Master’s degree program and meet the specific requirements of the course before being admitted to study the course.
Economists would also choose to apply to universities abroad to study these courses and earn a bachelor degree or a Master’s degree. It is important to study or have certification from a reputable and internationally recognized body as creates more chances for employment and opportunities in your field.