What do you do if you want to transition into economics with your existing work experience?

Transitioning into a new field can be both exciting and daunting, especially if you're aiming to pivot into economics. The good news is that your existing work experience can serve as a valuable foundation for this shift. Economics, the social science that studies the production, distribution, and consumption of goods and services, is a field with broad applications and many areas where skills from other industries are transferable.

1 Assess Skills

Your first step is to evaluate your current skill set and experience to see how they align with economics. For example, if your background is in data analysis, you're already equipped with a crucial skill for economic research. Understanding how to interpret market trends, consumer behavior, or financial data can give you a head start. Even soft skills, like communication and problem-solving, are highly prized in economics. Reflect on your strengths and consider how they can be applied to economic concepts and frameworks.

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Zainab Musoni, PMP ®

Communication skills, attention to detail, Integrity, Adaptability, result oriented, continuous learning
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- pursuing a degree or certification in economics. - Identify transferable skills from your existing work experience that align with economics. - Connect with professionals in the field of economics - look for internships or volunteer opportunities in economics-related organizations or research institutions. - Keep yourself updated on current economic trends, theories etc. - Consider seeking guidance from career counselors, mentors, or professionals in the field of economics.

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Asha Kanta Sharma

Manager - Finance & Accounts @ Opendoors Fintech | Financial Accounting
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To transition into economics with existing work experience, assess your skills and knowledge, identify career goals, fill skill gaps, gain relevant experience, network with professionals, update your resume, seek educational opportunities, gain practical experience, stay informed, and be persistent and flexible. Gaining experience through internships, volunteer work, and consulting can help you apply your existing skills and gain practical experience. Staying informed about current events and trends in economics is essential for a successful transition into the field.

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Kingsley Ndimele

Financial Economist || Business Consultant
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Prepare for the Job Market Update Your Resume: Highlight your transferable skills, relevant coursework, and any economic projects or experiences. Tailor Your Cover Letter: Emphasize your motivation for transitioning into economics and how your background uniquely qualifies you for roles in this field. Prepare for Interviews: Be ready to discuss how your current experience is relevant to economics and demonstrate your understanding of economic concepts and methodologies. 9. Continuous Learning and Development Stay Informed: Keep up with current economic research, trends, and debates by reading journals, following news, and participating in discussions.

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2 Learn Economics

To bridge the gap between your current expertise and your desired field, you'll need to acquire a foundational understanding of economic principles. This could involve taking online courses, enrolling in a university program, or self-study through books and academic journals. Focus on key areas like microeconomics, which deals with individual and business decisions, or macroeconomics, which looks at the economy as a whole. Understanding these concepts will help you speak the language of economics and apply it to real-world situations.

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Dr. Philipp Zimmermann

"People Drive the Future" Global HR Executive & Digital Leader | HR Transformation & AI Integration | HR Strategy & Operations | Inclusive Leadership | Talent Management | Organizational Change | Keynote Speaker & Author
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Get started pragmatically. Get yourself an overview on business topics and your fields of interest. Use YouTube, GenAI Chats, learning platforms such as LinkedIn Learning. Use this step to further clarify for yourself before investing in more intense qualification

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3 Gain Experience

Practical experience in economics can come from internships, volunteer work, or even projects within your current job that have an economic aspect. Seek out opportunities to work on budgeting, financial forecasting, or market analysis. This hands-on experience will not only solidify your economic understanding but also demonstrate to potential employers your commitment to transitioning into the field. It's also a chance to network with professionals who can provide guidance and opportunities.

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4 Network Widely

Networking is vital in any career change. Start by connecting with economists and professionals in related fields. Attend industry events, join professional associations, and participate in online forums dedicated to economics. These interactions can lead to mentorship, collaboration opportunities, and insights into the job market. Remember, the relationships you build can be just as valuable as the skills you acquire.

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5 Update Resume

Your resume should reflect your journey towards becoming an economist. Highlight relevant aspects of your previous experience and any additional training or projects you've undertaken. Use terminology that resonates with economic professionals and showcases your analytical abilities. Tailor your resume for each job application to emphasize how your unique background makes you an asset in the context of economics.

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Dr. Philipp Zimmermann

"People Drive the Future" Global HR Executive & Digital Leader | HR Transformation & AI Integration | HR Strategy & Operations | Inclusive Leadership | Talent Management | Organizational Change | Keynote Speaker & Author
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Reflect on what you have done so far and take the perspective of business. What could be relevant, applicable, transferable to a desired business area. Sharpen you CV accordingly. You need to think from the perspective of your application "target".

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6 Interview Prep

When preparing for interviews, anticipate questions that will explore your understanding of economic concepts and your ability to apply them. Practice explaining complex ideas in simple terms, as this is a crucial skill for economists. Be ready to discuss how your past experiences have prepared you for a career in economics, focusing on transferable skills and your passion for the field.

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Dr. Philipp Zimmermann

"People Drive the Future" Global HR Executive & Digital Leader | HR Transformation & AI Integration | HR Strategy & Operations | Inclusive Leadership | Talent Management | Organizational Change | Keynote Speaker & Author
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Try to envision your interview partner's perspective. What is relevant from this perspective? How could you explain how you could contribute to this? Maybe try an GenAI Chat for some role play - it could help you create this change of perspective.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if you want to transition into economics with your existing work experience?

1

2

3

4

5

6

7

1 Assess Skills

2 Learn Economics

3 Gain Experience

4 Network Widely

5 Update Resume

6 Interview Prep

7 Here’s what else to consider

Economics

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What do you do if you want to transition into economics with your existing work experience?

1

2

3

4

5

6

7

1 Assess Skills

2 Learn Economics

3 Gain Experience

4 Network Widely

5 Update Resume

6 Interview Prep

7 Here’s what else to consider

Economics

Rate this article

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