To most people social behaviour is part of their lives and is influenced by their interests, they’re surrounding and often their values and beliefs. We go about our day carrying on our social behaviours often forgetting or unaware of the impact it has on n things we don’t even think about. For example, it’s effect on economics.
Luckily, there are professionals who know all about that and keep track of this information and you could be one of them! If you’re looking to specialize in this area we have some information below that might help you kickstart your journey.
What is social economics?
Social economics is also known as socio-economics. It is the area that studies the interrelation between economic activity and social behaviour. It is an area that analyzes how the economy is affected by social norms, ethics, sentiments and other related factors.
What does a social economist do?
As a social economist you will be responsible for carrying out research and analysis to assess the effect of social behaviour on economic activity. You will carry out duties including conducting research, preparing reports, formulating plans to address economic problems in relation to production and distribution of goods, services, monetary and fiscal policy. You will also be responsible for collecting and sampling techniques related to your work in order to carry it out effectively.
In the economist profession you can expect to work around 40 hours a week in an office setting. It is typically a 9-5 style of job but may require extra hours in order to reach certain deadlines and to complete projects. The hours may not always be set or predictable.
There are many courses on offer in the area across the UK. Some courses offer the opportunity to study either part time or full time. Universities may have certain restrictions in place due to Covid-19 and may offer courses online. The majority of courses available under this heading are related to landscaping. Courses available include:
Behavioural Economics in Action
Postgraduate courses in Behavioural Economics in Action are mostly relevant to those who have experience in areas from policy making and management backgrounds in both public and private sectors as well as areas such as sociology, anthropology and those alike. Programmes like this provide a solid background in the designing experiments and data analysis while also gaining the relevant skills and knowledge to be able to critically evaluate issues related to behavioural economics.
Postgraduate courses in Behavioural Economics will give students the opportunity to gain a strong understanding of behavioural economics and will look at areas from Behavioural Research Methods, Psychological Processes: Individual and Social and Principles of Economics to Experimental Economics and Game Theory, Professional Aspects of Behavioural Economics and more.
Other courses available include Health Economics, Behavioural Economics and Finance and more.
Entry requirements may differ from course to course or university to university. Therefore, it is important to research your specific course in detail to ensure you meet the entry requirements. As these courses are postgraduate courses, you will need a bachelor’s degree. Some courses may accept a 2.2 degree while others will require a 2.1 in areas such as business, sociology and related areas.
Your salary will be dependent on your exact employment type as well as your experience and possibly even location. In the economist profession, entry level salaries are usually between £25,000-£35,000 and as experience increases so will your salary. With around 5 years experience you could earn £40,000+. Economists at senior level can earn between £50,000-£75,000 depending on their sector. All figures are intended to be used as a guide only.
- Local government agencies
- Central Government agencies
- Financial Institutions
- Investment organisation
- Universities and colleges
- Transnational companies and organisations
- Environmental economist
- Travel economist
- Financial Risk analyst
- Economic researcher
- Financial consultant
- Data analyst
- Financial planner
Skills and requirements
Skills and requirements helpful in this area include:
- Excellent communication skills
- Strong verbal skills
- The ability to work well with others
- Time management skills
- Organisation skills
- Numeracy and mathematical skills
- IT ability
- Ability to understand complex issues
- Independent thinker
- Pays attention to detail