Scope for Economics Studies in Singapore

In recent years, the study of economics as evolved to include an infusion of maths, statistics and computational methods. The practical application of economics has become crucial to make better business and financial decisions in the global market place. As most businesses across the globe are impacted by the economy, it is vital to understand the effects of an increase in interest rates, unemployment and so on.

Singaporean universities and institutes offer courses that teach the discipline of economics at both the undergraduate and postgraduate levels. Most of these courses are aimed at industry professionals from engineering, science and social science backgrounds, who are looking to acquire a good working knowledge of economics which is required in their careers and by the economy.

Courses in Economics

An Msc in Applied Economics is for students who wish to study how the economy works in a globalised environment. Apart from the core subjects, students of this programme need to take up a variety of other modules in areas such as financial economics, economic development and policies, and international economics.

The curriculum generally includes the following subjects:

• Micro and macro economics
• Quantitative and computing methods
• Econometrics
• Financial markets and portfolio management
• Public finance
• International trade and finance

You have the option to choose an only coursework programme or a research programme. To apply for a master’s degree in economics at a Singaporean university, you require a bachelor’s degree in the subject or any related field such as finance accounting, maths statistics, physics or engineering.  

Institutes such as the National University of Singapore (NUS) offer double degree programmes that integrate and synergise the strengths of two disciplines- Economics and Business. Some institutes also offer courses leading to the degrees of B.A. and B.Soc.Sci. (Hons) in Economics.

Career opportunities

Professional economists apply their skills in the business, social sciences, and humanities fields. The courses offer career avenues in industry, finance, government or international organisations as an international economist, labour economist, public finance economist, organisational economist or as a banker, broker, market analyst, systems analyst, inventory control specialist, legislative assistant or business journalist.

Clearly, economics graduate can work in a variety of sectors and are ot resticted to a particular industry.

Economics is more of a general degree unlike say engineering or medicine. This means that though it allows you to work in a variety of sectors, in order to stand out among the crowd, you might need to pair your Economics degree with another specialization.