НАУЧНО-ИССЛЕДОВАТЕЛЬСКАЯ РАБОТА «МОЯ БУДУЩАЯ ПРОФЕССИЯ»

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1 НАУЧНО-ИССЛЕДОВАТЕЛЬСКАЯ РАБОТА «МОЯ БУДУЩАЯ ПРОФЕССИЯ» Черникова Ю.Е. Кумертауский филиал федерального государственного бюджетного образовательного учреждения высшего профессионального образования «Оренбургский государственный университет» Кумертау, Россия SCIENTIFIC RESEARCH WORK «MY FUTURE PROFESSION» Chernikova Yu.E. Kumertau branch of federal state budgetary educational institution of higher professional education «Orenburg State University» Kumertau, Russia

2 CONTENT Introduction Economists training Economists typical work activities. 7 3 Types of economists. 9 4 Questionnaire and its results Conclusion Glossary Bibliography. 16 Appendices... 17

3 Russian society has reached the stage of international integration which influenced on all spheres of life and especially on the country s economy. The global transformation of production strategies and labour market, the expansion of economic activity increase the requirement in competent economists capable for the constant professional development. The economists activity determines the various levels of organization in any society be they political, social or economic. According to the Longman dictionary economist is someone who studies the way in which money and goods are produced and used and the systems of business and trade. While economist careers are expected to grow in the foreseeable future, the field will most likely see slower than average growth. Many of those with bachelor s degrees in economics will seek employment in related fields. Many firms are choosing to use specialized titles rather than using the general position of economist. Many economists will be employed in positions such as micro-economist, macroeconomist, financial economist, labor economist or more specialized areas of the field. All of these specialties will require a high level of quantitative and critical thinking skills. Anyone holding postgraduate degrees will have the best career outlook in this field. The main objective of this research work is to examine and summarize the information about economists careers. Other objectives are: - to study the particular features of the economists activity and their training; - to determine the main types of the economists; - to work out and analyze the questionnaire about the future profession for the Bachelors of Economics, studying at Kumertau branch of Orenburg State University Methodology The theoretical research was most based on sources of Internet, textbooks, journals, dictionaries. The experimental part of the study was based on the 3

4 questionnaire and its analysis including the use of tables and graphs with the calculations of percentages and illustration the results in the diagrams. 4

5 1 ECONOMISTS TRAINING Many jobs in the private industry and most opportunities for advancement require at least a master s degree, often a Doctor Degree. Many schools offer graduate programs in specific areas of economics like advanced theory, international economics, demographic economics, or econometrics, and so students should find a school with the right program for them. Many schools also offer undergraduate degrees in economics. Undergraduate students should take advantages of the courses in their school to gain skills in mathematics, especially statistics, designing surveys, preparing presentations, or computer science. Also, many graduate students gain valuable experience in internships at governmental departments, business, or consulting or researcher firms. Bachelor s degrees are generally qualification for entry-level jobs like research assistants, trainee positions for management, or sales positions in most areas and corporations like consulting firms or government departments. As positions increase in the amount of responsibility required, the amount of education required increases as well. Thus, master s degrees are often needed for higher-level jobs in research or management. Most applicants for economist positions will have an advantage if they have strong research, quantitative, or computer skills. Many top positions require a Doctor Degree. Also, the heads of many businesses and governmental agencies have economic knowledge, even if economist isn t in their job title. In order to be on the faculty at a community or junior college, an applicant needs at least master s degree. A master s degree, coupled with a strong background in economic theory, mathematics, statistics, and econometrics, provides the basis for acquiring any specialty within the economics field. Economists who are skilled in quantitative techniques and their application to economic modeling and forecasting, and who also have good communications skills, should have the best job opportunities. Bachelor s degree holders may face competition for the limited number of economist positions for which they qualify. However, they will qualify for a number 5

6 of other positions in which they can take advantage of their economic knowledge by conducting research, developing surveys, or analyzing data. Many graduates with bachelor s degrees will find jobs in industry and business as management or sales trainees or as administrative assistants. Bachelor s degree holders with good quantitative skills and a strong background in mathematics, statistics, survey design, and computer science also may be hired by private firms as researchers. Some will find jobs in government. Economists have many other skills besides their schooling that make them successful. They are detail-oriented and have good analytical skills. Much of an economist s work consists of long-term data analysis and problem solving, so perseverance and patience are advantageous. Also, many economists work independently, so it is important that they be self-motivated and disciplined. 6

7 2 ECONOMOSTS TYPICAL WORK ACTIVITIES Economics favors quantitative skills and critical thinkers. The employment rate for economists is projected to grow at the rate of the current average, with the largest area of growth being private industry, especially in the areas of consulting and economic research. A master s or Doctor s degree is recommended for prospective economists to be competitive. Basically what economists do is analyze how people create goods and services by allocating limited resources like raw materials, land, technology, and labor. They do this by researching and monitoring things like exchange rates, business trends, taxation, employment rates, inflation, and costs of materials. They then try to find trends and develop predictions based on the data. Economists use many different methods for collecting that data. They might survey random samples or use math and statistical models. Economists not only need to collect data, but communicate it in an effective manner so companies can make informed decisions for so the media can communicate it to the world at large. For this reason economists spend a lot of their time making reports like charts or graphs. Economists take the theories and trends they find and apply them to benefit many different organizations and industries. Many corporations require the skills of microeconomists, like projecting customer demand or product sales, both of the client firm and their competitors to maximize profit. These economists also review new legislation, like minimum wage requirements or tariffs, and how it will affect their client. Large business with many smaller branches might also have economists assess the economy of countries where branches exists or where they are looking to open new branches. Smaller businesses often hire economists as consultants or those who work in research firms. Consulting firms provide a large proportion of the macroeconomic study and prediction by gathering many different statistics, compiling large databases, finding trends. These firms often publish their findings. The federal government also employs a large percentage of economists. They generally conduct surveys and gather data. For example, the Department of Labor 7

8 studies salaries, industry growth, employment rates, and safety issues. The Department of Commerce looks at the manufacture, allotment, and use of goods and services both domestic and international. Employees of the government also use economic data to forecast the consequences of new legislation or policies, such as Social Security, tax increases or cuts, increasing the budget deficit, trade regulations, or communications. While the general economic principles remain consistent throughout the entire career field, many people in economists careers will specialize and work in more focused economic disciplines. 8

9 3 TYPES OF ECONOMISTS There are three general categories of economists: business economists, government economists and academic economists. Each type of economist applies the economic approach to decision making in a different setting. Business economists work in manufacturing, mining, transportation, communications, banking, insurance, retailing, investment, and other types of organizations. They also work in trade associations and consulting organizations. Government economists are hired by federal, state and local governments. They serve in a wide variety of positions involving analysis and policy making. A bachelor s degree in economics is a good qualification for an entry position. Higher positions are open when you obtain a graduate degree. There are jobs for labour, international, development, and population economists, as well as micro- and macroeconomists. In order to teach at a college level an economist has to have Doctor s degree in economics. Faculty members usually teach, conduct research and have administrative responsibilities. Many academic economists also consult businesses or government. Non-profit sector needs the expertise of professional economists. Economists working for such groups are expected to analyze issues and to write about them in a simple way which can be understood both by the average citizen and by elected lawmakers and government bureaucrats responsible for making and implementing policy. Though all economists need to be familiar with general principles, most economists specialize. The skills and knowledge gained in each of these areas are often applied to other fields like agriculture, medicine, education, law, energy, and environmental protection. Specialization of economists is represented in the form of the table. 9

10 Specialization of economists Table-1 Microeconomists Macroeconomists Financial Economists International Economists Organizational or Industrial Economists Demographic or Labor Economists Public Finance Economists Econometricians These people study individual companies or people. They look at supply and demand to find out how to maximize production, for example, or to project how high the demand for a particular product would be. They look at the economy as a whole to find long-term, overarching trends throughout history. They can then make generalizations and draw conclusions about investment productivity, inflation, unemployment, etc. They strongly correlated to macroeconomists, financial economists study interest rates to see their effect on banking systems. They look at markets internationally, studying currency exchange and the effects of tariffs and trade procedures and laws. They examine the markets of individual industries, studying competitors and making predictions based on the decisions of competitors. They may also be involved in protecting the industry against trusts and monopolies. They look at trends in salary, such as how it s determined, and the need for labor. They are especially interested in causes of unemployment and the results of changes in demographic, such as a baby boom, on labor. They look at the government s involvement in the economy, such as taxation, deficits or surpluses in budget, or policies concerning welfare. They use mathematics in every branch of economics. They put together economic models using methods like calculus, regression analysis, and game theory. These models explain economic happenings and help to project future economic occurrences and trends like how new taxation laws will affects employment or the duration of business cycles. 10

11 4 QUESTIONNAIRE AND ITS RESULTS To study the information about our profession we ve offered some questions for the Bachelors of Economics at Kumertau branch of Orenburg State University. The questions were concerned our university and our future profession. The text of the questionnaire is represented in the appendix (Appendix 1). The total number of questionnaire participants was 45. After the analysis of the form we ve got the following results: 1) 64,8 % of students have chosen their future profession according to their interests; 7,2 % - according to their abilities and skills; 7,2 % - according to financial situation of my family and 24,5 % according to advice of parents / teachers / relatives / friends / etc.; 2) 81,7 % of participants like studying and teaching at Kumertau branch of Orenburg State University; 2,7 don t like and 16,2 % couldn t answer this question. 3) 48,6 % of students want to continue their education after the graduation of the University; 10,8 % of students have no wish to continue their education and 40,6% gave the answer I don t know. 4) As for the sphere of work, 64,9 % of participants would like to work as business economists; 8,1 % as government economists, 13,5 % would like to work in a banking system and 2,7 % in a taxation sphere; 10,8 % would prefer to own their firm. 5) The most interesting thing in the economists work is: 27,9 % - work with finances; 27 % - different calculations; 13,5 % communication with people; 10,8 % all kinds of activities; 8,1 % work with documents; 5,4 % knowledge of economic computer programmes and 5,4 % couldn t answer this question. The results of the questionnaire in the form of tables and diagrams are represented in the appendix (Appendix 2). Also we ve studied the information of the graduates further education and employment. The results were as follows: 50 % of the graduates continue their education at Orenburg State University; 42,8 % of the graduates work in accordance 11

12 with their qualification and 7,2 % work in the sphere which is not related with economics. To conclude we are to say that the students of Economics are interested in their future profession and most of them plan to continue their education. According to the form s results the most preferable sphere of economists activity is business. But the graduates employment results had shown that the job opportunities are depended upon the intention to improve the educational level and the work experience. 12

13 CONCLUSION Economic education prepares for a career in any organization. Economists are needed in government organizations, unions, associations, banks and all other organizations. Naturally, an important need for economists is in business. While the general economic principles remain consistent throughout the entire career field, many people in economists careers will specialize and work in more focused economic disciplines. In accordance with the graduates employment and bachelors interest in high level of education we must say that studying at our university opens a wide range of career options for the economists. 13

14 GLOSSARY Bachelor s degree a first university degree Career a job or a profession that you have been trained for, and which you do for a long period of your life Doctor s degree the highest level of degree given by a university Economist someone who studies the way in which money and goods are produced and used and the systems of business and trade Economy the system by which a country s money and goods are produced and used, or a country considered in this way Economics 1) the study of the way in which money and goods are produced and used; 2) the way in which money influences whether a plan, business etc will work effectively Employment 1) the condition of having a paid job; 2) the act of paying someone to work for you; 3) the number of people who have jobs Job 1) a regular paid work that you do for an employer; 2) something that you are responsible for doing; 3) a particular thing you have to do, considered as work Master s degree a university degree that you can get by studying for one or two years after your first degree Macroeconomics the study of large economic system such as those of a whole country or area of the world Microeconomics the study of small economic systems that are part of national or international systems Postgraduate someone who is studying at a university to get a master s or a doctor s degree Profession 1) a job that needs a high level of education and training; 2) all the people who work in a particular profession Questionnaire a written set of questions which you give to a large number of people on order to collect information 14

15 Specialization 1) an activity or subject that you know a lot about; 2) the practice of limiting your interests or activities to one particular subject 15

16 BIBLIOGRAPHY 1. Агабекян, И.П. Английский для экономистов / И.П. Агабекян, П.И. Коваленко. Изд. 5-е, доп. перераб. Ростов н/д: Феникс, С Агабекян, И.П. Английский язык для экономистов: учебное пособие / И.П. Агабекян, П.И. Коваленко, Ю.А. Кудряшова. М.: Проспект, С , Longman Dictionary of Contemporary English / [director, Della Summers]. New ed. Harlow: Pearson Education Limited, P

17 APPENDICIES Questionnaire for the students of Economics Please answer the following questions: Appendix 1 1. I ve chosen my future profession a) according to my interests b) according to my abilities and skills c) according to financial situation of my family d) according to advice of parents / teachers / relatives / friends / etc. 2. Do you like studying and teaching at Kumertau branch of Orenburg State University? a) Yes b) No c) I don t know d) 3. I m going to continue my education after the graduation of the University a) Yes b) No c) I don t know d) 4. After the graduation of the University I ll work as a 5. The most interesting thing in the economists work is 17

18 The results of the questionnaire Appendix 2 Questions Answers percentage A according to my interests 64,9 B according to my abilities and skills 5,4 according to 1 I ve chosen my future profession C financial situation 5,4 of my family D according to advice of parents / teachers / relatives / friends / 24,3 etc. Do you like studying and teaching A Yes 81,74 2 at Kumertau branch of Orenburg B No 2,7 State University? C I don t know 16,2 3 4 I m going to continue my education after the graduation of the University After the graduation of the University I ll work as a 5 The most interesting thing in the economists work is A Yes 48,6 B No 10,8 C I don t know 40,6 business economist 64,9 bank economist / bank manager 13,5 owner of my firm 10,8 government economist 8,1 taxation inspector 2,7 work with finances 29,7 different calculations 27,0 communication with people 13,6 all kinds of activities 10,8 work with documents 8,1 knowledge of economic computer programmes 5,4 I don t know 5,4 18

19 The results of the questionnaire Question 1: I ve chosen my future profession Question 2: Do you like studying and teaching at Kumertau branch of Orenburg State University? 19

20 Question 3: I m going to continue my education after the graduation of the University Question 4: After the graduation of the University I ll work as a 20

21 Question 5: The most interesting thing in the economists work is 21