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The joining of mathematics and economics gives students an opportunity to apply mathematical concepts to develop economic models, theories and quantitative analysis. After earning a bachelor's degree in mathematical economics, your potential employers could include financial firms, nongovernmental organizations, educational institutions and business entities. Depending on where you are hired, you can work as a statistician, finance analyst, credit analyst, cooperate manager, bank officer, investment consultant or educator.
Mathematical economists can work in banks as budget analysts, accountants, bank managers, real estate broker or trade specialists. Banks rely on economists to analyze economic effects of interest rates, purchase rates and other trends that can alter banking services. They are trained to develop policies that banks use to provide funds to customers and to engage in international trade. If the World Bank hires you, for instance, one of your major duties would be to strengthen international trade policies to create a free and competitive trading environment for businesses.
Business owners and managers consult mathematical economists on issues such as securing loans, investment programs and production of goods and services. Depending on the issue, these economists devise procedures and methods for collecting the information they need to give accurate advice. For example, they may use the sampling technique to conduct a survey, obtain data to calculate the probability of a given population to purchase a product and advise accordingly. As a mathematical economist, you have to use your professional skills to analyze costs of distributing products and services to consumers and to give the information to businesses.
If you are a mathematical economist with a keen eye for research, government departments and private firms need your expertise. Research is used to assess economic situations, laws and policies, and establish new facts that can be adopted by research agencies and educational institutions. In the US, for example, economists working for government agencies can be called upon to estimate the economic effects of specific amendments in legislation or public policy. They can research how such laws affect stability of the dollar against foreign currencies and give corrective recommendations when necessary.
Institutions of higher learning hire mathematical economists to train students pursuing this career. Here, their main duty is help students develop professional skills and receive knowledge to analyze practical applications of economic policies in agriculture, finance, labor, real estate, natural resources, energy and health. For example, if the University of Michigan as a mathematical economics lecturer hires you, you are charged with the responsibility to work closely with students, educating them to focus on innovation, entrepreneurship, new technologies and business development.
Based in New York City, Alison Green has been writing professionally on career topics for more than a decade. Her work has appeared in “U.S. News Weekly” magazine, “The Career” magazine and “Human Resources Journal.” Green holds a master's degree in finance from New York University.