Career Compass: Economics

The economy is important to all Canadians, and economics is the field of study that helps us understand our world: wages and employment, economic growth, productivity, wealth and poverty, government budgets and taxations, resources exploitation, business practices, inflation, recession and regional economic differences. As an economics student in the Faculty of Arts, you will study the history and current reality of these issues. The commitment of the department to a broad range of perspectives has stimulated the development of a variety of interdisciplinary programs including the global political economy and labour studies programs. The Department of Economics also offers joint honours programs in collaboration with the departments of mathematics and statistics.

Skills you will gain by studying ECONOMICS

• A knowledge of the principles and techniques necessary to gain a sound understanding of the choices and problems facing us during our lifetime
• The ability to collect, analyze and interpret data using statistical analysis, and make reasoned judgements on the basis of the available data
• The ability to think critically and apply economic theory to develop innovative solutions to real-world issues
• The ability to communicate effectively both verbally and in writing

ACADEMIC SUCCESS

Course requirements:
Refer to the Academic Calendar - be sure to contact the appropriate advisor for your chosen stream (Economics & Econometrics or Economics & Society).

ECON 1010 and ECON 1020 or ECON 1210 and ECON 1220

Honours (both streams) or Advanced Economics & Econometrics Stream only: plus MATH 1500 or MATH 1524

To do this year:

1. Know the requirements for your degree. Meet with an academic advisor in the Faculty of Arts to help you plan your program.
2. If you need academic support, visit the Math Help Centre or attend a Supplemental Instruction session through the Academic Learning Centre.

CAREER TIPS

Start planning your career:

1. Meet with a career consultant to generate career ideas based on your interests, values, personality and skills.
2. Research occupations that match your skills and interests.
3. Set up a UM Connect account to view job postings and register for workshops and events.
4. Set up your Experience Record, an official record of university-approved activities.

VOLUNTEER & WORK EXPERIENCE

Link experiences to your career interests. Options include:

1. Student groups including Arts Student Body Council, Toastmasters or UMSU.
2. Volunteer for UM Orientation events to help welcome new students to campus while gaining experience or join the Student Leadership Development Program.
3. Student work opportunities including Work-Study, STEP Services or Federal Student Work Experience Program.
4. Experiential education opportunities such as UM Community Volunteers.

CULTURAL OPPORTUNITIES

Considering international opportunities? Visit the Language Centre and check out the International Centre website to learn more international opportunities for UM students.

Explore communities and cultures you want to work with: Visit Migizii Agamik, the International Centre or learn about local agencies via 211 Manitoba.

ACADEMIC SUCCESS

Course requirements:
ECON 2010, ECON 2020 and ECON 2040

Honours (both streams) and Advanced Economics & Econometrics stream only: plus ECON 2030

Refer to the Academic Calendar for additional course requirements—be sure to contact the appropriate advisor for your chosen stream (Economics & Econometrics or Economics & Society).

To do this year:

1. Should you follow a 3-or 4-year plan? Meet with an academic advisor and career consultant to map out your options.
2. When choosing a minor, take courses that will open opportunities.

CAREER TIPS

Make professional connections:

1. Join the Career Mentor Program to learn from professionals.
2. Attend career fairs to connect with employers.
3. Become a Student Affiliate with the Canadian Economics Association or the Canadian Association for Business Economics.
4. Attend the department of economics' weekly seminar series.

Market your skills: Develop your resumé and cover letter and refine your interview skills.

VOLUNTEER & WORK EXPERIENCE

Explore student research opportunities: Apply for a research assistant position or Undergraduate Research Award.

Gain practical experience by volunteering: Check out the Manitoba Legislative and United Way.

Find opportunities to market yourself: Become a Faculty of Arts Student Ambassador.

Earn while you learn: Consider applying to the Arts Co-operative Education program once you have completed 48 credit hours.

CULTURAL OPPORTUNITIES

Develop global career skills and expand intercultural learning: Consider Summer University at Warsaw School of Economics, an international service-learning program, My World Abroad or SWAP for a "working holiday".

Staying local? Check out Community Engaged Learning. Consider learning a new language and culture through the Language Partner Volunteer Program.

ACADEMIC SUCCESS

Course requirements:
The following are prerequisites to key courses in your final year. Please ensure to schedule them accurately to complete your degree on time and meet with your academic advisor if you have questions.

Advanced Economics & Econometrics stream: ECON 3010, ECON 3020, and ECON 3040, plus additional required courses.

Advanced Economics & Society stream: ECON 3040 and ECON 3810, plus additional required courses.

Honours (both streams): see Academic Calendar for required courses.

To do this year:

1. Meet with the Department of Economics for honours program approval.
2. Meet with your co-op advisor (if applicable).
3. Confirm eligibility to graduate with an academic advisor and declare intent to graduate in Aurora (3-year option).

CAREER TIPS

Investigate your career options:

1. Look at sample job postings to ensure you have the qualifications upon graduation.
2. Develop employability and essential skills sought by employers.
3. Explore supports available to entrepreneurs for business development such as New Venture Championships through Stu Clarke Centre for Entrepreneurship, World Trade Centre Winnipeg, and the Manitoba Government.
4. Create a LinkedIn profile to network with professionals.

Consider continuing your studies: Check out the Faculty of Graduate Studies, Extended Education or other academic institutions.

VOLUNTEER & WORK EXPERIENCE

Continue or start research: Participate in the Undergraduate Research Poster Competition.

Check out student job opportunities with: Canadian Border Services Agency, Canadian CED Network, Statistics Canada, financial institutions and insurance agencies.

Search for job opportunities online: Check out Job Bank, Find My Job, Indeed or other search engines.

Use your networks and connections: Inquire about unadvertised job openings (the "hidden job market").

CULTURAL OPPORTUNITIES

Participate in the multicultural opportunities on campus: Participate in the Intercultural Development and Leadership Program, volunteer for the International Student Mentorship Program or take part in Graduation Pow Wow.

ACADEMIC SUCCESS

Course requirements:
Advanced Economics & Econometrics stream: ECON 4822, plus additional required courses.

Advanced Economics & Society stream: see Academic Calendar for required courses.

Honours (both streams): see Academic Calendar for required courses.

To do this year:

1. Meet with the department of economics for honours program approval.
2. Meet with your co-op advisor (if applicable).
3. Confirm eligibility to graduate with an academic advisor and declare intent to graduate in Aurora.

CAREER TIPS

Start job search 9 months in advance: Contact Career Services to refine your job search and self-marketing strategies. You can visit the office up to 6 months after graduation.

If you are continuing on to graduate school: Finalize your application materials and required tests. Use the awards database to search for funding and awards to help finance your continuing education. Contact your department to find out how their awards deadlines are advertised.

VOLUNTEER & WORK EXPERIENCE

Ensure you have references in place: Ask your professor for a reference or a letter of recommendation if you're applying for graduate school.

Assess your resumé: Identify any gaps in experience and fill them through work placements or internships such as the Statistics Canada Recruitment Development Program or Manitoba Legislative Internship.

CULTURAL OPPORTUNITIES

Prepare to work in a multicultural environment: Visit Canada's National Research Centre for Truth and Reconciliation on campus and register for the Intercultural Leaders.

Sample jobs with an undergraduate degree and related experience

• Border Services Officer
• Budget Officer Assistant
• Business Development Officer
• Citizenship/Immigration Officer
• Client Services Representative
• Credit Officer
• Employee Benefits Coordinator
• Economic Development Consultant
• Employment Counsellor
• Entrepreneur
• Financial Planner
• Foreign Service Officer
• Fundraiser
• Insurance Claims Adjuster
• Insurance Broker
• Labour Relations Specialist 
• Market Research Analyst
• Procurement Officer
• Project Liaison Officer
• Trade Officer
• Venture Capital Assistant

Options requiring other education

• Assistant Deputy Minister
• Developmental Policy Officer
• Economic Policy Analyst
• Economist
• Human Resources Manager
• Lawyer
• Parliamentary Budget Officer
• Real Estate Agent
• Statistician
• University Professor

Industries such as banking and financial services, business, government and insurance would value an economics major in combination with the employability skills that are highly sought after by employers. The include:*

• Oral and written communication
• Numeracy and data use
• Critical thinking
• Problem solving
• Teamwork
• Digital technology
• Industry specific knowledge
• Continuous learning

*Information has been adapted from Employability Skills 2000⁺ and Workplace Education Manitoba – Essential Skills.