ECONOMICS A FUTURE IN WHAT IS A CAREER IN ECONOMICS LIKE? USEFUL WEBSITES AUT UNI ( )

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1 WHAT IS A CAREER IN LIKE? Economics offers invaluable insights into the dynamics of people and finance, helping us understand how individuals, companies and governments make decisions when allocating resources. Accordingly, it is viewed as a social science, which means that professionals need to have excellent people skills to complement their strong background in economic principles and business awareness. USEFUL WEBSITES New Zealand Association of Economists (NZAE) National Association for Business Economics (NABE) Financial Services Institute of Australasia (FINSIA) New Zealand Bankers Association (NZBA) The discipline of economics is founded on three fundamental concepts, microeconomics, macroeconomics and econometrics. New Zealand Institute of Economic Research (NZIER) Microeconomics is the analysis of the behaviour of individuals, households and companies. This includes market analysis, pricing policies, company organisation, competitive advantage and innovation. Macroeconomics examines the economy as a whole from a national and international viewpoint. This could encompass topics like employment, inflation, international trade, and business confidence. Econometrics deals with mathematical modelling, using data to provide principles and systems to guide the economic decision-making of individuals and organisations. These concepts combine to provide answers to some of the most pressing problems facing the world, such as poverty, unemployment, pollution, crime and inequality. Alternatively, they can be applied to the commercial sphere, and can address issues like international competition, consumer behaviour, world trade, economic growth and so on. Are you logical, analytical and fascinated by the way human behaviour is affected by money? Would you like to see how economic theory can be bought to life in the real world? Can you see yourself participating in the global economic environment? If so, a career in economics would be great for you. For the most up-to-date information on Economics and the Bachelor of Business or Bachelor of Arts, visit our website: or economics-major To get employability and career support, book an appointment through: For other Future Career Sheets visit: You can also contact the AUT Student Hub team for help and advice: 0800 AUT UNI ( ) studenthub@aut.ac.nz CITY CAMPUS 55 Wellesley Street East, Auckland Central SOUTH CAMPUS 640 Great South Road, Manukau, Auckland Connect with us now: The information contained in this career sheet was correct at time of print, Aug 2018 A FUTURE IN

2 WHAT IS A CAREER IN LIKE? Economics offers invaluable insights into the dynamics of people and finance, helping us understand how individuals, companies and governments make decisions when allocating resources. Accordingly, it is viewed as a social science, which means that professionals need to have excellent people skills to complement their strong background in economic principles and business awareness. USEFUL WEBSITES New Zealand Association of Economists (NZAE) National Association for Business Economics (NABE) Financial Services Institute of Australasia (FINSIA) New Zealand Bankers Association (NZBA) The discipline of economics is founded on three fundamental concepts, microeconomics, macroeconomics and econometrics. New Zealand Institute of Economic Research (NZIER) Microeconomics is the analysis of the behaviour of individuals, households and companies. This includes market analysis, pricing policies, company organisation, competitive advantage and innovation. Macroeconomics examines the economy as a whole from a national and international viewpoint. This could encompass topics like employment, inflation, international trade, and business confidence. Econometrics deals with mathematical modelling, using data to provide principles and systems to guide the economic decision-making of individuals and organisations. These concepts combine to provide answers to some of the most pressing problems facing the world, such as poverty, unemployment, pollution, crime and inequality. Alternatively, they can be applied to the commercial sphere, and can address issues like international competition, consumer behaviour, world trade, economic growth and so on. Are you logical, analytical and fascinated by the way human behaviour is affected by money? Would you like to see how economic theory can be bought to life in the real world? Can you see yourself participating in the global economic environment? If so, a career in economics would be great for you. For the most up-to-date information on Economics and the Bachelor of Business or Bachelor of Arts, visit our website: or economics-major To get employability and career support, book an appointment through: For other Future Career Sheets visit: You can also contact the AUT Student Hub team for help and advice: 0800 AUT UNI ( ) studenthub@aut.ac.nz CITY CAMPUS 55 Wellesley Street East, Auckland Central SOUTH CAMPUS 640 Great South Road, Manukau, Auckland Connect with us now: The information contained in this career sheet was correct at time of print, Aug 2018 A FUTURE IN

3 KEY CONCEPTS AND TRENDS The rise of data analytics Data analytics (DA) is the practice of examining complex data with the purpose of drawing conclusions about that information. Data analytics is used by firms and governmental organisations to make better business decisions. With more and more organisations collecting big data, economics professionals need the skills to evaluate and provide meaningful conclusions from this information. Climate change and sustainability Environmental economics and natural resources are fields that examine the basic concepts of sustainable practice and how it is put into practice in both the private and public sectors. Businesses and governments are seeking to develop policies to manage the implications of climate change so there is a growing need for economic expertise in this area. Growing international trade and economic integration The growth of international trade in goods and services and the integration of individual economies has expanded substantially over the last century. This has had consequences for how businesses are run and how governments function in an increasingly complex world economy. The economist s role is to look at the reasons behind the formation of regional free trade associations, and the consequences of trade barriers for individual countries and the world economy. Competition policy and market failures Economists look at industrial organisation - the structure and performance of a wide array of markets that do not meet the textbook assumptions of perfectly competitive marketplaces. They examine questions such as How do we know that some markets are non-competitive? (therefore giving unfair advantage to some companies), and What public policies can best deal with their undesirable effects in these circumstances? Economists also consider the many ways in which markets can fail to deliver socially beneficial outcomes, and work with governmental organisations to develop best responses to these various market failures. Technological change and future workplaces The pace of technological change has accelerated over recent decades. This has potential implications for how businesses will function in the future, and how workers will need to adapt to these changing workplace environments. Government policies will need to deal with the wide array of consequences brought about by technological change in future workplaces. Economics provides the conceptual lens through which these changes and their implications can be anticipated and understood. They work regular hours, but may work weekends or evenings to meet economic or project deadlines. Many organisations are switching to flexible working hours to reflect modern lifestyles and project-based requirements. CAREER ROLE EXAMPLES Procurement co-ordinator/manager evaluates, negotiates and organises the purchasing of goods and services for an organisation. Determines product need and identifies, communicates and negotiates with suppliers while setting up shipments, delivery and payment schedules. WORK SETTINGS Economics professionals find employment in a broad range of settings, but can be roughly grouped into the following two sectors: Financial organisations, such as investment banks, insurance companies, and other economics institutions Public sector, such as Treasury, Ministry of Economic Development or local councils Business risk auditor - audits the financial risks and opportunities of an organisation, as well as monitoring, planning and directing financial policy. Works with clients to improve business performance and operating efficiency through risk-based reviews. Financial markets analyst - identifies and analyses financial markets in relation to the assets, earning capacity or success of an organisation in the industrial, commercial or public sector. Investment banker - responsible for the processing and settlement of all financial transactions made at an investment bank or investment management firm. Policy advisor - conducts policy and legislative reviews, makes recommendations on policy issues, implements policy decisions, responds to inquiries on policy, within financial and personal property security sectors. SKILLS AND KNOWLEDGE Technical skills Able to apply economic thought to environmental, ethical and social issues in local and global contexts THE AUT APPROACH All AUT economics students take part in co-operative education (co-op). This is a supervised work placement in an organisation of the student s choice where they apply what they have learnt in a business, not-for profit organisation, or entrepreneurial venture. Some students do a supervised research project instead. Co-op can be done in New Zealand or overseas. Skilled in using critical analysis to model economic behaviour to generate potential solutions to individual, organisational and societal problems Recent placements included: Knowledgeable in use of appropriate abstract modelling and other economic tools to think creatively and critically about business and societal issues Vodafone General skills Skilled in analysing and interpreting information Strong written and verbal communication skills Auckland Council Spark ASB Market Economics consulting firm The Warehouse Group Ability to collaborate with a wide range of people Competent at problem-solving and time-management Able to work well under pressure Excellent planning and organising skills PERSONAL QUALITIES Interested in testing theories with empirical data Pays attention to detail Analytical and a good communicator SALARY GUIDE Salary (per year) Median salary two years after completing Bachelors degree $44,709 Procurement co-ordinator $50,000 - $65,000 Procurement manager Risk analyst Policy analyst $100,000 - $150,000 $70,000 - $95,000 Graduate $45,000 -$50,000 two years experience up to $75,000 Senior up to $150,000 or more Sources: Careers NZ, payscale.com, State Services Commission, Robert Walters Salary Guide 2015 Salary range is indicative of the early 2016 New Zealand job market and should only be seen as a guideline. FURTHER STUDY OPTIONS Postgraduate options in economics include postgraduate certificate and diploma, honours, and PhD programmes. Research specialisations include microeconomics, macroeconomics, econometrics, industrial organisation, international trade, economic history, environmental economics and natural resources, development economics, public economics, health economics, labour economics and public policy. The School of Economics at AUT is home to the Centre for Social Data Analytics (CSDA), which applies strong data science to linked data (connecting pieces of data, information, and knowledge on the web), undertaking research that tells us new things about the human experience. These valuable insights can measure the impact of social interventions, identify the need for new policy and predict the likely outcomes for individuals and groups in society. The focus at CSDA is on linked data that can tell stories about healthcare, children, families and education. The Centre is led by internationally regarded social data researchers who are constantly seeking new opportunities to collaborate with organisations and researchers worldwide to use data to help inform quality decisions. GABRIELLE WYMER Planning Support Specialist, The Warehouse Group Bachelor of Business in Economics and International Business I chose to major in economics at university because I felt it would give me lifelong skills that would transfer to a great number of careers. I developed a passion for it during high school when I realised economic theories enabled me to better understand behaviours of individuals, and organisations. As a planning support specialist for the footwear team at The Warehouse Group, my role consists of supporting the category planner and buyer to achieve company targets and objectives. My main responsibilities include report creation and analysis, order tracking and logistics, liaising with stores and suppliers, stock allocation and replenishment, and supporting the planner in maintaining budgets and financial planning. I enjoy seeing the real life application of the quintessential theories I ve studied throughout my degree, such as supply and demand, and seeing the contrasts between how markets behave in real life compared to a text book. It was challenging at the start, as I had no idea what retail planning was prior to my co-operative education placement, so the learning curve has been extremely steep and fast. I am now over a year into my role at The Warehouse and I still struggle to understand the retail jargon that is used every day! In the future I would like to continue my career in retail, and potentially explore using my second major International Business more, by moving into the buying side of The Warehouse business, as The Warehouse Group is the country s single biggest importer of goods. EMPLOYER COMMENT As New Zealand s largest retailer, The Warehouse attracts business graduates wanting to apply their skills in a fun, demanding and fast paced retail environment. We look for people with a can do attitude and strong communication, analytical and problem solving skills, who get excited about the fact that they can play a part in making desirable products affordable for New Zealanders. Gabrielle brings a fresh perspective and eagerness to learn to the role. This has proven to be extremely valuable as she has created and implemented a new reporting process to give better insights to our buyers. Selina Maguire Planner - Footwear, The Warehouse Group

4 KEY CONCEPTS AND TRENDS The rise of data analytics Data analytics (DA) is the practice of examining complex data with the purpose of drawing conclusions about that information. Data analytics is used by firms and governmental organisations to make better business decisions. With more and more organisations collecting big data, economics professionals need the skills to evaluate and provide meaningful conclusions from this information. Climate change and sustainability Environmental economics and natural resources are fields that examine the basic concepts of sustainable practice and how it is put into practice in both the private and public sectors. Businesses and governments are seeking to develop policies to manage the implications of climate change so there is a growing need for economic expertise in this area. Growing international trade and economic integration The growth of international trade in goods and services and the integration of individual economies has expanded substantially over the last century. This has had consequences for how businesses are run and how governments function in an increasingly complex world economy. The economist s role is to look at the reasons behind the formation of regional free trade associations, and the consequences of trade barriers for individual countries and the world economy. Competition policy and market failures Economists look at industrial organisation - the structure and performance of a wide array of markets that do not meet the textbook assumptions of perfectly competitive marketplaces. They examine questions such as How do we know that some markets are non-competitive? (therefore giving unfair advantage to some companies), and What public policies can best deal with their undesirable effects in these circumstances? Economists also consider the many ways in which markets can fail to deliver socially beneficial outcomes, and work with governmental organisations to develop best responses to these various market failures. Technological change and future workplaces The pace of technological change has accelerated over recent decades. This has potential implications for how businesses will function in the future, and how workers will need to adapt to these changing workplace environments. Government policies will need to deal with the wide array of consequences brought about by technological change in future workplaces. Economics provides the conceptual lens through which these changes and their implications can be anticipated and understood. They work regular hours, but may work weekends or evenings to meet economic or project deadlines. Many organisations are switching to flexible working hours to reflect modern lifestyles and project-based requirements. CAREER ROLE EXAMPLES Procurement co-ordinator/manager evaluates, negotiates and organises the purchasing of goods and services for an organisation. Determines product need and identifies, communicates and negotiates with suppliers while setting up shipments, delivery and payment schedules. WORK SETTINGS Economics professionals find employment in a broad range of settings, but can be roughly grouped into the following two sectors: Financial organisations, such as investment banks, insurance companies, and other economics institutions Public sector, such as Treasury, Ministry of Economic Development or local councils Business risk auditor - audits the financial risks and opportunities of an organisation, as well as monitoring, planning and directing financial policy. Works with clients to improve business performance and operating efficiency through risk-based reviews. Financial markets analyst - identifies and analyses financial markets in relation to the assets, earning capacity or success of an organisation in the industrial, commercial or public sector. Investment banker - responsible for the processing and settlement of all financial transactions made at an investment bank or investment management firm. Policy advisor - conducts policy and legislative reviews, makes recommendations on policy issues, implements policy decisions, responds to inquiries on policy, within financial and personal property security sectors. SKILLS AND KNOWLEDGE Technical skills Able to apply economic thought to environmental, ethical and social issues in local and global contexts THE AUT APPROACH All AUT economics students take part in co-operative education (co-op). This is a supervised work placement in an organisation of the student s choice where they apply what they have learnt in a business, not-for profit organisation, or entrepreneurial venture. Some students do a supervised research project instead. Co-op can be done in New Zealand or overseas. Skilled in using critical analysis to model economic behaviour to generate potential solutions to individual, organisational and societal problems Recent placements included: Knowledgeable in use of appropriate abstract modelling and other economic tools to think creatively and critically about business and societal issues Vodafone General skills Skilled in analysing and interpreting information Strong written and verbal communication skills Auckland Council Spark ASB Market Economics consulting firm The Warehouse Group Ability to collaborate with a wide range of people Competent at problem-solving and time-management Able to work well under pressure Excellent planning and organising skills PERSONAL QUALITIES Interested in testing theories with empirical data Pays attention to detail Analytical and a good communicator SALARY GUIDE Salary (per year) Median salary two years after completing Bachelors degree $44,709 Procurement co-ordinator $50,000 - $65,000 Procurement manager Risk analyst Policy analyst $100,000 - $150,000 $70,000 - $95,000 Graduate $45,000 -$50,000 two years experience up to $75,000 Senior up to $150,000 or more Sources: Careers NZ, payscale.com, State Services Commission, Robert Walters Salary Guide 2015 Salary range is indicative of the early 2016 New Zealand job market and should only be seen as a guideline. FURTHER STUDY OPTIONS Postgraduate options in economics include postgraduate certificate and diploma, honours, and PhD programmes. Research specialisations include microeconomics, macroeconomics, econometrics, industrial organisation, international trade, economic history, environmental economics and natural resources, development economics, public economics, health economics, labour economics and public policy. The School of Economics at AUT is home to the Centre for Social Data Analytics (CSDA), which applies strong data science to linked data (connecting pieces of data, information, and knowledge on the web), undertaking research that tells us new things about the human experience. These valuable insights can measure the impact of social interventions, identify the need for new policy and predict the likely outcomes for individuals and groups in society. The focus at CSDA is on linked data that can tell stories about healthcare, children, families and education. The Centre is led by internationally regarded social data researchers who are constantly seeking new opportunities to collaborate with organisations and researchers worldwide to use data to help inform quality decisions. GABRIELLE WYMER Planning Support Specialist, The Warehouse Group Bachelor of Business in Economics and International Business I chose to major in economics at university because I felt it would give me lifelong skills that would transfer to a great number of careers. I developed a passion for it during high school when I realised economic theories enabled me to better understand behaviours of individuals, and organisations. As a planning support specialist for the footwear team at The Warehouse Group, my role consists of supporting the category planner and buyer to achieve company targets and objectives. My main responsibilities include report creation and analysis, order tracking and logistics, liaising with stores and suppliers, stock allocation and replenishment, and supporting the planner in maintaining budgets and financial planning. I enjoy seeing the real life application of the quintessential theories I ve studied throughout my degree, such as supply and demand, and seeing the contrasts between how markets behave in real life compared to a text book. It was challenging at the start, as I had no idea what retail planning was prior to my co-operative education placement, so the learning curve has been extremely steep and fast. I am now over a year into my role at The Warehouse and I still struggle to understand the retail jargon that is used every day! In the future I would like to continue my career in retail, and potentially explore using my second major International Business more, by moving into the buying side of The Warehouse business, as The Warehouse Group is the country s single biggest importer of goods. EMPLOYER COMMENT As New Zealand s largest retailer, The Warehouse attracts business graduates wanting to apply their skills in a fun, demanding and fast paced retail environment. We look for people with a can do attitude and strong communication, analytical and problem solving skills, who get excited about the fact that they can play a part in making desirable products affordable for New Zealanders. Gabrielle brings a fresh perspective and eagerness to learn to the role. This has proven to be extremely valuable as she has created and implemented a new reporting process to give better insights to our buyers. Selina Maguire Planner - Footwear, The Warehouse Group

5 KEY CONCEPTS AND TRENDS The rise of data analytics Data analytics (DA) is the practice of examining complex data with the purpose of drawing conclusions about that information. Data analytics is used by firms and governmental organisations to make better business decisions. With more and more organisations collecting big data, economics professionals need the skills to evaluate and provide meaningful conclusions from this information. Climate change and sustainability Environmental economics and natural resources are fields that examine the basic concepts of sustainable practice and how it is put into practice in both the private and public sectors. Businesses and governments are seeking to develop policies to manage the implications of climate change so there is a growing need for economic expertise in this area. Growing international trade and economic integration The growth of international trade in goods and services and the integration of individual economies has expanded substantially over the last century. This has had consequences for how businesses are run and how governments function in an increasingly complex world economy. The economist s role is to look at the reasons behind the formation of regional free trade associations, and the consequences of trade barriers for individual countries and the world economy. Competition policy and market failures Economists look at industrial organisation - the structure and performance of a wide array of markets that do not meet the textbook assumptions of perfectly competitive marketplaces. They examine questions such as How do we know that some markets are non-competitive? (therefore giving unfair advantage to some companies), and What public policies can best deal with their undesirable effects in these circumstances? Economists also consider the many ways in which markets can fail to deliver socially beneficial outcomes, and work with governmental organisations to develop best responses to these various market failures. Technological change and future workplaces The pace of technological change has accelerated over recent decades. This has potential implications for how businesses will function in the future, and how workers will need to adapt to these changing workplace environments. Government policies will need to deal with the wide array of consequences brought about by technological change in future workplaces. Economics provides the conceptual lens through which these changes and their implications can be anticipated and understood. They work regular hours, but may work weekends or evenings to meet economic or project deadlines. Many organisations are switching to flexible working hours to reflect modern lifestyles and project-based requirements. CAREER ROLE EXAMPLES Procurement co-ordinator/manager evaluates, negotiates and organises the purchasing of goods and services for an organisation. Determines product need and identifies, communicates and negotiates with suppliers while setting up shipments, delivery and payment schedules. WORK SETTINGS Economics professionals find employment in a broad range of settings, but can be roughly grouped into the following two sectors: Financial organisations, such as investment banks, insurance companies, and other economics institutions Public sector, such as Treasury, Ministry of Economic Development or local councils Business risk auditor - audits the financial risks and opportunities of an organisation, as well as monitoring, planning and directing financial policy. Works with clients to improve business performance and operating efficiency through risk-based reviews. Financial markets analyst - identifies and analyses financial markets in relation to the assets, earning capacity or success of an organisation in the industrial, commercial or public sector. Investment banker - responsible for the processing and settlement of all financial transactions made at an investment bank or investment management firm. Policy advisor - conducts policy and legislative reviews, makes recommendations on policy issues, implements policy decisions, responds to inquiries on policy, within financial and personal property security sectors. SKILLS AND KNOWLEDGE Technical skills Able to apply economic thought to environmental, ethical and social issues in local and global contexts THE AUT APPROACH All AUT economics students take part in co-operative education (co-op). This is a supervised work placement in an organisation of the student s choice where they apply what they have learnt in a business, not-for profit organisation, or entrepreneurial venture. Some students do a supervised research project instead. Co-op can be done in New Zealand or overseas. Skilled in using critical analysis to model economic behaviour to generate potential solutions to individual, organisational and societal problems Recent placements included: Knowledgeable in use of appropriate abstract modelling and other economic tools to think creatively and critically about business and societal issues Vodafone General skills Skilled in analysing and interpreting information Strong written and verbal communication skills Auckland Council Spark ASB Market Economics consulting firm The Warehouse Group Ability to collaborate with a wide range of people Competent at problem-solving and time-management Able to work well under pressure Excellent planning and organising skills PERSONAL QUALITIES Interested in testing theories with empirical data Pays attention to detail Analytical and a good communicator SALARY GUIDE Salary (per year) Median salary two years after completing Bachelors degree $44,709 Procurement co-ordinator $50,000 - $65,000 Procurement manager Risk analyst Policy analyst $100,000 - $150,000 $70,000 - $95,000 Graduate $45,000 -$50,000 two years experience up to $75,000 Senior up to $150,000 or more Sources: Careers NZ, payscale.com, State Services Commission, Robert Walters Salary Guide 2015 Salary range is indicative of the early 2016 New Zealand job market and should only be seen as a guideline. FURTHER STUDY OPTIONS Postgraduate options in economics include postgraduate certificate and diploma, honours, and PhD programmes. Research specialisations include microeconomics, macroeconomics, econometrics, industrial organisation, international trade, economic history, environmental economics and natural resources, development economics, public economics, health economics, labour economics and public policy. The School of Economics at AUT is home to the Centre for Social Data Analytics (CSDA), which applies strong data science to linked data (connecting pieces of data, information, and knowledge on the web), undertaking research that tells us new things about the human experience. These valuable insights can measure the impact of social interventions, identify the need for new policy and predict the likely outcomes for individuals and groups in society. The focus at CSDA is on linked data that can tell stories about healthcare, children, families and education. The Centre is led by internationally regarded social data researchers who are constantly seeking new opportunities to collaborate with organisations and researchers worldwide to use data to help inform quality decisions. GABRIELLE WYMER Planning Support Specialist, The Warehouse Group Bachelor of Business in Economics and International Business I chose to major in economics at university because I felt it would give me lifelong skills that would transfer to a great number of careers. I developed a passion for it during high school when I realised economic theories enabled me to better understand behaviours of individuals, and organisations. As a planning support specialist for the footwear team at The Warehouse Group, my role consists of supporting the category planner and buyer to achieve company targets and objectives. My main responsibilities include report creation and analysis, order tracking and logistics, liaising with stores and suppliers, stock allocation and replenishment, and supporting the planner in maintaining budgets and financial planning. I enjoy seeing the real life application of the quintessential theories I ve studied throughout my degree, such as supply and demand, and seeing the contrasts between how markets behave in real life compared to a text book. It was challenging at the start, as I had no idea what retail planning was prior to my co-operative education placement, so the learning curve has been extremely steep and fast. I am now over a year into my role at The Warehouse and I still struggle to understand the retail jargon that is used every day! In the future I would like to continue my career in retail, and potentially explore using my second major International Business more, by moving into the buying side of The Warehouse business, as The Warehouse Group is the country s single biggest importer of goods. EMPLOYER COMMENT As New Zealand s largest retailer, The Warehouse attracts business graduates wanting to apply their skills in a fun, demanding and fast paced retail environment. We look for people with a can do attitude and strong communication, analytical and problem solving skills, who get excited about the fact that they can play a part in making desirable products affordable for New Zealanders. Gabrielle brings a fresh perspective and eagerness to learn to the role. This has proven to be extremely valuable as she has created and implemented a new reporting process to give better insights to our buyers. Selina Maguire Planner - Footwear, The Warehouse Group

6 WHAT IS A CAREER IN LIKE? Economics offers invaluable insights into the dynamics of people and finance, helping us understand how individuals, companies and governments make decisions when allocating resources. Accordingly, it is viewed as a social science, which means that professionals need to have excellent people skills to complement their strong background in economic principles and business awareness. USEFUL WEBSITES New Zealand Association of Economists (NZAE) National Association for Business Economics (NABE) Financial Services Institute of Australasia (FINSIA) New Zealand Bankers Association (NZBA) The discipline of economics is founded on three fundamental concepts, microeconomics, macroeconomics and econometrics. New Zealand Institute of Economic Research (NZIER) Microeconomics is the analysis of the behaviour of individuals, households and companies. This includes market analysis, pricing policies, company organisation, competitive advantage and innovation. Macroeconomics examines the economy as a whole from a national and international viewpoint. This could encompass topics like employment, inflation, international trade, and business confidence. Econometrics deals with mathematical modelling, using data to provide principles and systems to guide the economic decision-making of individuals and organisations. These concepts combine to provide answers to some of the most pressing problems facing the world, such as poverty, unemployment, pollution, crime and inequality. Alternatively, they can be applied to the commercial sphere, and can address issues like international competition, consumer behaviour, world trade, economic growth and so on. Are you logical, analytical and fascinated by the way human behaviour is affected by money? Would you like to see how economic theory can be bought to life in the real world? Can you see yourself participating in the global economic environment? If so, a career in economics would be great for you. For the most up-to-date information on Economics and the Bachelor of Business or Bachelor of Arts, visit our website: or economics-major To get employability and career support, book an appointment through: For other Future Career Sheets visit: You can also contact the AUT Student Hub team for help and advice: 0800 AUT UNI ( ) studenthub@aut.ac.nz CITY CAMPUS 55 Wellesley Street East, Auckland Central SOUTH CAMPUS 640 Great South Road, Manukau, Auckland Connect with us now: The information contained in this career sheet was correct at time of print, Aug 2018 A FUTURE IN