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Jesteś w: Start / Articles / Job Search / Research worker, expert in a TV programme or maybe an analyst in the National Bank of Poland, in other words economics – a classic field of studies with good perspectives

Research worker, expert in a TV programme or maybe an analyst in the National Bank of Poland, in other words economics – a classic field of studies with good perspectives

Economics in comparison to fields such as: Administration, European Studies, Finance and Accounting, Spatial Economy, Quantitative Methods in Economics and Information Systems, Social Policy, International Relations or even Management, is often perceived as the most theoretical, and as a consequence, not very useful for anyone planning their research career. In fact, studying this field enables not only acquiring thorough knowledge in theory of economics, but also gives an opportunity to gain skills of economic problem solving in practice.

This is reflected in the educational offer of Warsaw School of Economics. Two specialties in Economics – Macroeconomic and Microeconomic Analysis – prepare for work as a specialist – analyst in corporation, commercial banks, consultative institutions, foundations as well as public institutions and governmental organizations. Whereas the specialty – Theoretical Economics – was established for anyone who plans work at universities or research institutes[1].

The graduates of Economics become specialists in the field of human and financial resources, tangible assets management as well as knowledge and information effective use. Moreover, they know methods and tools of carrying out economic analyses, which means, they know how to make use of economic data to conduct expert analyses useful when assessing the situation and making decisions regarding the entire economy (macroeconomic analyses) and its particular entities (microeconomic analyses). They also have a broad knowledge which lets them understand socio-economic processes occurring in the modern world and helps to assess the views on economy and its elements appearing in the professional discussions and publications. The graduates of Economics acquire skills to run their own business activity. Furthermore, they are well prepared to perform an individual as well as a team work. They can become members or organizers and managers of teams of analysts and consultants as well as research teams[2].

Research career – to be and to have

Studying Economics gives a possibility to acquire thorough knowledge in the field of Theory of Economics, and therefore perfectly well prepare for the research work. The first steps in the research career are: doctoral studies and cooperation with a research unit (usually this is a department or institute in a university or other centre conducting scientific research in Economics). The next stages are: preparation and defense of doctoral thesis as well as participation in the competition for a position of the associate professor and then habilitation guaranteeing the status of an independent research worker.

The decision concerning working at the university or research institute is not related to the dilemma to be or to have anymore. The programmes financing scientific research are currently offered among others by: domestic and foreign universities, Ministry of Science and Higher Education, National Science Centre, European funds and companies. They guarantee decent salaries for research works. Besides honoraria, they finance expert literature, research equipment (e.g. software) and attendance in domestic and foreign conferences.

The above mentioned to be means not only being happy with the social prestige, but above all a great satisfaction with one’s own work. First of all, it is a satisfaction with finding new research niche areas and exploring them with our own research. Secondly, it is a great content with didactic work. This is especially about first year students and a possibility to introduce them to a completely unknown and mysterious world of Micro- and Macroeconomics.

A little bit of make-up and thorough knowledge in Economics, that is, the recipe for the mass media success

Except for expert publications, speeches at the conferences and, of course, lectures given to students, sharing with the economic knowledge is also possible by mass media. Currently being homo sapiens is not enough, many want to be homo economicus. Entrepreneurs, stockholders, savers, credit payers or just voters have a great hunger for economic knowledge. In order to satisfy it, mass media concerns invite hosts of economists so they can explain those complex mechanisms occurring in the current world economy using simple language.

Prestige of Economics as well as the researcher causes that the role of expert in mass media is mainly played by the graduates of this classic field of study. They mostly cooperate with universities or research centres. Naturally, press or radio interviews as well as being a guest in television programmes is a real pleasure and even greater prestige for economists.

Like a cog in a complex machine, i.e. an analyst in the National Bank of Poland

One of the fields of the activity of the National Bank of Poland is the analytical research activity, which is applied above all to run the monetary policy. The field of analyses and research includes among others the following issues:

  • mechanism of monetary policy transmission,
  • inflation,
  • competitiveness of the economy,
  • balance of payments,
  • consumer demand,
  • public finance,
  • relations between monetary and fiscal policy,
  • Euro zone, in particular introduction of the common European currency in Poland,
  • development and stability of the Polish financial system.

Research activity is applied in preparation of wide range of economic scenarios and forecasts especially those regarding inflation, and therefore creates a base of knowledge necessary to conduct monetary policy[3].

The research goals set for analysts of the National Bank of Poland are very ambitious and require exceptionally thorough knowledge in economics. As a consequence, just the graduates of Economics are best prepared to accomplish them. In the opinion of William Rogers: There have been three great inventions since the beginning of time: fire, the wheel, and central banking[4]. Thus, work as an analyst in the National Bank of Poland is similar to work of a cog in a complex machine, which Rogers recognized as the greatest discovery in the history of humanity. This again refers to prestige and a great satisfaction with the performed work. Why the analyst of the Central Bank is just like a meteorologist, who is able to forecast the waves of inflation and recession in advance.

Many other opportunities for a rebellious nature of the economist

Of course, the three presented paths of career is a narrow part of the broad range of opportunities of graduates of Economics to care for their professional development. The acquired knowledge and skills within the Micro- and Macroeconomic Analysis can be used at work on positions such as:

  • analyst (economist) in a commercial bank, near-bank or insurance institution,
  • financial advisor,
  • broker,
  • consultant,
  • expert in the Ministry of Finance, Economy or Regional Development,
  • expert in the administrative divisions of territorial self-governments,
  • worker in national or international economic organizations,
  • insurance agent,
  • real estate agent.

Nearly all mentioned professions require being up to date with the economic issues, and therefore encourage to read economic press, articles at economic websites as well as watching (listening) to broadcast devoted to economic subject. If so, perhaps it is worth knowing the world of mass media also from behind the scenes. The graduates of Economics are perfectly well prepared to be an economic journalist. Therefore the thorough knowledge in economics again opens the door to the world of mass media.

Deep understanding of the complex world of economics and conducting sophisticated micro- and macroeconomic analyses requires non-standard thinking, creativity, and sometimes even a little bit of craziness. As a consequence, the graduate of this field of study is a perfect entrepreneur material. If the above presented paths of professional development does not seem to be interesting enough or too much limited with various inflexible organizational framework, there is nothing in the way to start your own business in order to fully make use of our creativity. Overcoming every difficulty related to running a business activity is a real adventure, why per aspera ad astra[5] is a motto which accompanies everyone, who learns the complex and mysterious world of economy.

The graduate of Economics has a wide choice of different professional development paths. The variety of paths lets anyone find the one, which meets their expectation best and might provide them not only with decent remuneration (cf. diagram no.1), but above all satisfaction with their job.

Diagram no. 1. Median* of the total remuneration for selected professions available to
the graduates of Economics in 2010 

diagram

* Median is a value which divides all data into two different sets. There is exactly 50% of values gathered in the analysis above and below the median. (PS. For the graduates of the Economics this is just a pro forma information, as they know perfectly well, what median is).

Source: own analysis based on: My Renumeration, http://www.wynagrodzenia.pl/moja_placa.php, [22.04.2011].

Moreover, a wide spectrum of professions available to graduates of the Economics makes their professional careers may develop dynamically. Thanks to this they may change their job many times or work in different professions at the same time, combine routine with a little bit of craziness, fulfil their goals in many different aspects, just be happy.

 

Paweł Folfas 

Bibliography:

P.A. Samuelson, W.D. Nordhaus, Ekonomia, tom 1, Wydawnictwo Naukowe PWN, Warszawa 2003.

Netography:

http://www.nbp.pl

http://www.sgh.waw.pl

http://www.wynagrodzenia.pl



[1] Description of fields of study offered within Bachelor Studies at Warsaw School of Economics,  http://www.sgh.waw.pl/ksztalcenie/stacjonarne/sl/kierunki/opisy/, [20.04.2011],

Description of fields of study offered within Master Studies at Warsaw School of Economics, http://www.sgh.waw.pl/inne/rekrutacja/oferta/studia-magisterskie/kierunki-opis/#ekonomia, [20.04.2011].

[2] Ibidem.

[3] Analytical and research activities of the National Bank of Poland, http://www.nbp.pl/home.aspx?f=/o_nbp/informacje/dzialalnosc_analityczna.html, [20.04.2011].

[4] P.A. Samuelson, W.D. Nordhaus, Ekonomia, vol. 1, Wydawnictwo Naukowe PWN, Warszawa 2003, p. 452.

[5] Latin sentence usually expressed as: "Through hardships to the stars”.

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