Course Job Prospects?

If you are considering an economics degree, you can guarantee in a few years' time that (unless you become a professional economist) you'll have managed to forget pretty much all you learned - all, that is, apart from the importance of equating supply and demand.

The supply side of higher education has never been healthier. Universities are attracting twice as many students as a decade ago. But on the demand side, who will employ all the students spilling out of graduation ceremonies in three or four years' time?

If the economy was growing at the same pace as graduate numbers, there wouldn't be a disequilibrium (another economics term you may want to remember). But the recent economic downturn has brought the inequality between supply and demand into horribly sharp focus. In the last two years, graduate vacancies have nosedived in most sectors, with employers tightening their belts. IT, finance, property and engineering have been hardest hit.

Future would-be graduates need to look beyond the current slump. There are encouraging signs within the retail, hospitality and leisure sectors. The additional funds being poured into the public sector are generating a significant number of graduate jobs. Many of the government's specialist units are keen to recruit alongside central government and the new local government graduate programme. Government investment in infrastructure has also given a welcome boost to the construction industry. Manufacturing is picking up at the moment, while the chemical and pharmaceutical industries seem particularly buoyant.

Most students who invest hard cash as well as time and effort in gaining a degree do so in the belief that it will lead to a higher paid job and better quality of life. At one time a degree virtually guaranteed a good career and all that went with it: pay, status and security. But not any more. In itself; a degree guarantees nothing. Employers will continue to look for academic achievement but with extras, such as work experience and a willingness to continue learning.

By the time you graduate, you must show you can "hit the ground running" when competing with scores of others for the best jobs. In other words, you'll have to demonstrate what business people like to call the "added value" of the university experience by explaining to prospective employers the practical skills and experience you have gained while studying for your degree.

If that seems like a tall order, it is. But building your CV with worthwhile extra curricular activities and skills is every bit as important for you as studying hard to get a 1st or a 2:1.