The best internship for economics majors is one that will allow them to learn from and interact with some of the most brilliant minds in their field. This means an internship at a global financial institution, where they can get hands-on experience and exposure to all aspects of international economics.
This kind of internship should also come with opportunities for mentorship. The best mentors are those who have been where you want to go, and can help you navigate the challenges you’ll face along the way. They should be able to provide insight into how they got where they are and give you tips on how to succeed in your own career goals.
Best Internship For Economics Majors
If you are passionate about economics, consider applying for an economics major internship. Completing an internship in a field related to economics can help you build you work experience and develop your skills in economics. You can also meet others who share your interest in economics and can help you reach your career goals. In this article, we explain what an economics major internship is, the benefits of one, tips for securing one and 10 types of economics major internships that could be perfect for you.
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What is an economics major internship?
An economics major internship is a work opportunity where you can expand your economic knowledge and gain professional experience. There are many different types of economics internships based on various types of work.
An economics major intern can gain experience in the following areas:
- Math and statistics
- Research
- Communication
- Data analysis
- Technology
- Business
Related: What Is Data Analytics?
Benefits of an economics major internship
An economics major internship is a great way to try out your interests and grow your knowledge. This opportunity can provide the following advantages to your career:
- Network with those in the field. In an economics major internship, you can benefit from forming relationships with your supervisor and with coworkers. Practice kindness to make friendships and consider staying connected with the people you meet so you can build your professional network.
- Connect with a company. You can work with a real company or government organization where you can showcase your skills and work ethic. This can also result in a full-time job.
- Discover your interests. Participating in an economics major internship can assist you in deciding whether a career path in economics is right for you. You can discover if you enjoy the tasks you are completing and want to pursue getting a similar full-time job. If you decide to change your career trajectory, an economics internship can still teach you many transferrable skills you can use in a different field.
- Learn new skills. An economics major internship can help you learn new skills in economics, such as analysis, research and communication. You can also learn more general skills in your internship, such as interpersonal, networking and administrative skills. Stay open to the possibility of learning all kinds of new skills in whatever role you’re in.
- Practice real-world application. Completing an economics major internship can allow you to practice the real-world application of economics principles and skills. Outside of the classroom, you can learn the importance of money and the ways that economic systems function in society. You can also perform work that has real, positive impacts on companies and governmental institutions.
Related: Transferable Skills: Definitions and Examples
Tips for securing an economics major internship
Here are some steps you can take to become an excellent candidate for an economics major internship:
Take economics courses
Taking economics courses at a college or university will help you obtain an economics major internship. Complete courses on topics you are interested in. For example, if you want to pursue an accounting internship, most employers require that you have taken courses on accounting and finance.
Perfect your resume
Before applying to an economics major internship, take some time to perfect your resume. A resume with a readable format and well-written information can impress potential employers and make you more competitive for an internship position. Make sure to mention if you have participated in any economics-related extra-curricular activities, like a math club. A good resume can show that you are thoughtful and hardworking.
Related: How To Write an Undergraduate Resume That Stands Out (With Samples and Template)
Get to know your professors
In order to be more competitive for an internship position, it is important to plan ahead. If you are attending a college or university, get to know your professors and build relationships with them. Consider asking them to get coffee with you and discuss an interesting book. Not only will you gain valuable, lasting friendships, but you can also ask your professors to write you a reference letter to apply for an internship. If your professors know you well, it can be easier for them to discuss your work ethic and qualifications for an internship role.
Learn programming languages
Many economics major internships prefer candidates with experience using Python, R and SQL for data collection. Learn these programming languages to make yourself more competitive for internship opportunities.
Read more: The 7 Best Programming Languages To Learn in 2021
10 economics major internships
Economics major internships are typically for college or university students who are pursuing a bachelor’s degree in economics, business, finance or a related field. However, there are also economics major internships for high school students, people who have already earned a bachelor’s degree and graduate students. These kinds of internships range across many industries. The following are ten types of economics major internships:
Economic consultant intern
An economic consultant intern works for a firm or team that helps clients mitigate risk and promote economic growth. These interns are responsible for conducting research into economic issues, collecting and analyzing economic data and planning and developing projects.
Sales and marketing intern
A sales and marketing intern conducts market research, keeps up to date on industry news, builds relationships with clients, executes marketing strategies and promotes products or services. This kind of intern can practice interpersonal, communication and customer service skills.
Corporate finance intern
A corporate finance intern, sometimes called corporate development or treasury intern, can work for a government, bank or private company to forecast liquidity, improve financial planning and budgeting processes and perform financial analysis.
Policy analyst intern
A policy analyst intern can work for a government or company and researches public issues, policies and legislation, creates briefs and performs clerical tasks. This kind of intern usually gathers facts and performs qualitative and quantitative analyses. For example, a policy analyst intern could assist in research to form solutions to health service issues.
Trade policy intern
A trade policy intern is like a policy analyst intern but focuses on international affairs and trade policy. This intern assists a company or government department in implementing their trade agendas, tracking global markets, attending meetings about critical trade issues and completing special projects. For example, a trade policy intern might work for a trade association in the agricultural industry.
Product analyst intern
Product analyst interns, sometimes called market research or data analyst interns, work for companies to conduct market research, analyze data, track consumer behaviors and create marketing strategies to increase profits.
Environmental economics intern
An environmental economics intern works for an organization that researches environmental issues and helps to protect the environment. These interns can research topics such as global warming, air pollution and water quality. They are also responsible for researching the economic impacts of environmental policy, writing reports and synthesizing data.
Related: Top 15 Environmental Policy Jobs
Community development intern
A community development intern works for a company that provides financial services to communities in order to promote development and strengthen their economies. These interns can assist individuals, small businesses and nonprofits, and often focus on researching and creating solutions for the economic challenges faced by marginalized communities.
Accounting intern
Accounting interns work for accounting firms or departments to research financial data, perform data entry and analysis, prepare reports, maintain files and records and complete account reconciliation. In order to obtain an accounting internship, ensure that you understand accounting and financial principles and are proficient in math and computer technology.
Data science intern
While data science interns are often studying math, physics or IT in college, economics majors can also pursue this type of internship. Data science, also called data analytics, is a rapidly growing field. Data science interns collect and analyze data and write reports. They are skilled in math, statistics and programming.
