Economics is not a set of tools or a recipe for solving specific problems, but rather a way of thinking. Economics establishes a framework for analysing incentives and behaviour and the interactions of individuals or groups in markets. This kind of structured thinking is a key ingredient for success in business, and is of particular value in addressing new unforeseen problems.
Career opportunities exist in many fields and at all levels of business.
Banks, other financial institutions and government are large employers of macro-economists who forecast the path of variables such as GDP, inflation and unemployment. Brokerage houses and dealers in most financial institutions employ economists to provide fundamental market research into relevant industries and markets. Economists are found at all levels of government and business in senior management positions, and increasingly head major industry lobby groups. In the Australian state and federal parliaments, they are outnumbered only by lawyers.