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Careers in Economics and Law

Careers in economics and law are plentiful. Often times people can utilize both backgrounds in the same job. A tax attorney can use both her business and legal background to handle several cases. Many of the areas in this industry are specialized; thus more immediate experience after college can make you very marketable in the future.

Economist

The most popular careers for persons with backgrounds in economics are as economists. Economists study how resources are distributed for goods and services. Data tracking is very important in the industry, and economists do a lot of research using surveys. They often use mathematical models to make forecasts for future economic cycles. A solid knowledge basis in economics is required to enter this profession.

Budget Analyst

Many people with backgrounds in economics become budget analysts. Typically budget analysts have a four-year degree in the financial or economic area. A large number of budget analysts work for the government, where they typically develop budgets with very tight financial requirements. They make proposals with the use of cost-budget analyses for the organization. A master's degree will give you an edge in this profession.

Attorney

Economics and law often make a good combination for attorneys. Those with both backgrounds may specialize in tax or corporate law. Tax attorneys typically attend a three-year law program with an additional year specifically for studying tax law. Attorneys must use their analysis and commonsense skills to fact find, make persuasive arguments, review contracts and documentation, and write legal memorandums. Attorneys can make upwards of $125,000 if they have years of experience in the field.

Paralegal

For those who want to enter the legal field and utilize their two- or four-year degree, a paralegal career is very appealing. Paralegals are in high demand, and often perform many of the same duties as attorneys. Paralegals with a background in economics may find working for a real estate or bankruptcy law firm to be very beneficial. They may use their background to help with closings, draft complex bankruptcy documentation, prepare tax returns and manage the firm's financial records. Salaries for paralegals often start at $40,000 and above.

Claims Adjuster

Many with a background in economics and law choose to work in the insurance industry. With an economics or business background, working as an adjuster specializing in claims of financial loss may be a good fit. Adjusters handle claims after an accident has occurred and use investigatory skills, often conferring with legal professionals, to determine the company's liability. This is a suitable career for those looking to utilize a four-year degree.



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