Decades ago, during the time where Science and Technology started booming in Malaysia, everybody preferred to choose the Science and IT courses.
At school, those who take economics, business and finance are labeled the ‘not so brilliant’ or leftover students who aren’t eligible to take science or IT stream.
However, do you know that those who enrolled in Economics courses have higher chances in securing jobs after graduating school or university?
There are lots of job opportunities available for Economics students. Imagine, in every institution or company, there will be at least one economics staff that might have roles such as marketing, accountant, or financial advisor.
Nowadays, most Malaysian have begun to understand the importance of learning economics in today’s dire state of pandemic recession. Even doctors, engineers and scientists have started to get annoyed with the heavy workload and underpaid situation in the nation.
There are a lot of people starting to look up Economic courses online to increase their knowledge in businesses, and investments. Some of them have even started to do double or triple side jobs to earn more income.
Interested in taking Economic courses in Malaysia? Superprof will discuss more in depth on the comprehensive guide to Economic course In Malaysia.
Why Should You Study Economics in Malaysia?
Malaysia is one of the most beautiful countries that still maintains its flora and fauna. Today, UNESCO ranked Malaysia as one of the top 15 most popular study destinations.
Despite the increasing values in the graduates produced from universities in Malaysia as well as English being the medium of teaching and learning, students for one, love the fact that the accommodation is affordable too.
Malaysia has a friendly culture and is a peaceful nation. With all the national parks existing in almost all states, students can enjoy free time exploring nature, discover the local delicious cuisines and experience the laid-back Malaysian lifestyle.
What is the Economics Course?
Economics can be easy to digest if you have a basic in Mathematics. It is true that math is the root to all subjects. Before we take you through the core of Economics, you should know a few key figures of the subject.
How do we define economics?
Have you ever wondered why during the pandemic recession the world economy turns bad?
The answer to this is because of low supply and demand from consumers to suppliers.
“Economics is the art to meet unlimited needs with scarce resources”
-Laurence J. Peter
At the fundamental levels, economics is the allocation of scarce resources. Adam Smith believes that economics is the “dismal science” that is resulting from the actions of self-interested individuals.
In simpler words, the economic theory was defined by wealth creation. However, in recent times, the context of economics has become broader.
“Economics is a study of mankind in the ordinary business of life”
Study on economic principles and human condition is the newer version of economics that enables us to seek what drives us to take action and decide on everything that we do.
There are several different types of economic study;
- Environmental economics
- Behavioural economics
- International economics
- Financial economics
Nonetheless, there are two distinctive types of macroeconomics and microeconomics. Economists usually focus on monetary and fiscal policy, employment, gross domestic product or international trades which is a matter of macroeconomics.
Meanwhile, microeconomics is defined as the impacts of one individual on the economy.
Some say, if you want to be rich, learn economics!
Check out the Economics tuition centres in Melaka.
Who Should Take Economics Course in Malaysia?
In recent years, learning Economics has become one of the most sought-after subjects in schools and universities.
The old mentality that only Science and Technology students will succeed in life has diminished over the years. People have started to become more open minded in taking Economics subjects as crucial and in demand to the real-world.
Even the Economic courses have been evolving. It is not about the conventional studies, but it has become contemporary along with the advancement of technology. There are more studies made on behavioral economics that examined why certain populations are poorer or richer than another.
Most often, any degree course that you take can’t dictate what kind of career you are going to have after graduation. But not with Economics. You can have many kinds of job options that the world has to offer except for highly trained professions such as medic, veterinary and architecture.
The question remains: should I take an Economics course in Malaysia?
- You seek for personal financial growth
- You are detail-oriented
- You love numbers
- You enjoy analysing data and do research
- You wish to understand economy and how it works
If all the answers are yes to the above, you should hurry and sign up for an Economics course!
You can start taking Economic classes as early as you are 16 years old. You can enroll in a social science stream and learn basic economics.
After SPM, you can take a foundation in Business, A-level/STPM or diploma in Economics before pursuing a higher education. To be able to take an economics degree, you’d need a minimum of 3 credits in SPM which include a pass in English and Mathematics.
Check out what is the relevance between mathematics and finance and where to find Economics courses in Penang.
Are Economic Graduates in Demand in Malaysia?
Economics graduates will acquire a wealth of transferable skills that are highly numerate, have great analytical skills and problem-solvers, and most importantly, able to analyze and interpret economic data. These values are mostly sought by employers to help grow the company.
A fun fact is Economic graduates tend to earn higher income on a higher paying job compared to other graduates since it appears to be highly valued in today’s workforce. Most graduates are able to work within the profession that they love.
So, do economic graduates have a lot of job opportunities available to them now and in the near future?
I’ve mentioned earlier that in every company, they will need at least one economist working with them.
Here are a few options on the future careers for economics graduates.
- Economic Expert
- Market Research Analyst
- Policy analyst
- Economics journalist
- Economics lecturer
- Stock Market Expert
- Financial advisory
- Marketing Executive
Below are other careers where an economics degree would be useful at.
- Operation Executive
- HR Executive
- Logistic Executive
- Data Scientist
- Management consultant
- Financial Risk Analyst
Where Can You Find Economics Classes in Malaysia?
If you find Economics is right up your alley, there are lots of Economics classes available throughout Malaysia for you to enrol in. For high school students, you can head up to your nearest tuition centre and sign up for an Economic course.
However, I believe that not all tuition centres have Economic courses on their sleeves. Therefore, the best chances you can get is to hire personal tutors. Rest assured you are able to find experienced and expert Economic tutor at Superprof! Yes, we are one of the best growing education platforms in Malaysia.
In Malaysia, there are few institutions that offer a standalone economic degree which will focus only on Economic modules whereas most of the other universities offer Economic courses under business. This course will expose students to both business and Economic modules.
Take a look at these courses that you can take in university to further become an economist.
- Economics Major
- Business administration
- Islamic Finance
- Education with economics (to become an economics teacher)
- Banking major
Here are some of the best local universities in Malaysia that offer degrees in Economics.
- Universiti Malaya (UM)
- Universiti Teknologi Malaysia (UTM)
- Universiti Teknologi Mara (UiTM)
- Universiti Malaysia Sarawak (UNIMAS)
- Universiti Sains Malaysia (USM)
Meanwhile, these are the top 5 private universities in Malaysia where you can study economics.
- The University Of Nottingham Malaysia
- Taylor’s University
- Multimedia University
- Universiti Tunku Abdul Rahman
- KDU University College
If you wish to be an economic expert, you can further your study to Master of Economics. If you ask what’s the difference between a Master's in Economics and a Master's in Business Administration (MBA), it is the privilege of the knowledge that you are going to get.
MBA students will focus more on corporate management. They will also study economics but in universal terms. Meanwhile, Master’s in Economics students will have more in depth modules on functional econometrics, macroeconomics, microeconomics, and many more specific modules for economics.
More people opt to take MBA to pursue careers that focus more on generating money and focus on business related careers.
Find out more on Economics classes in Putrajaya.
How to Hire an Economics Personal Tutor on Superprof?
Hiring Superprof tutors is as simple as ABC.
- Search out for economics tutors on Superprof
- Look at the list of available tutors
- Screen through which of the tutors that you’d like to learn with
- Say hello to the tutors
- Decide on the time and place to have your private lesson, either online or offline
- Enjoy your first lesson!
Some tutors give out free first lessons. So, take a chance and try out NOW!
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