TO:

Mrs. Lisa Ramirez

FROM:

Jasmin Cowo

SUBJECT:

Report on Career Planning

DATE:

April 2, 2014

For the past few years, we have heard the need for economic growth and development in our
country. Governments spending are increasing, taxes are getting higher, and the people are
getting poorer. There is an unequal distribution of income leading to the rich getting richer, and
poor getting poorer. Indeed, both the monetary and fiscal policy is important to keep the
economy stable and growing. The fiscal policy helps control the taking, borrowing and spending
of money. The monetary policys role is tocontrol the money supply in the economy. An increase
in the money supply increases aggregate demandand promotes economic growth. The central
bank is in direct control of the monetary policy and the government is in direct control of the
fiscal policy. My name is Jasmin Cowo, and I am aspiring to become a fiscal or a monetary
policy maker.
In several of my Economics courses, we have carried out debates in relation to developing
suitable monetary policies adequate for the economy. We have also written essays in relation to
the fiscal policy. These open debates and essays have made me gain interest in working in central
bank, directly dealing with monetary policy, and also gain interest me in working in the Ministry
of Finance dealing with the fiscal policy. Indeed, it can be difficult to determine when to increase
money supply, or when to reduce taxes and increase government spending. A rise or fall in a
variable can deeply affect the economy in a positive or negative way. However, the passion for
these particular fields in economics has made me determined to become a fiscal or monetary
policy maker.
Before enrolling at Galen University, my feeder institution was St. Johns College Junior
College. I was a Business Administration Major with a minor in Economics. In St. Johns, I won
the Miguel Espat Memorial Award for Entrepreneurial Excellence. I also came in third, along
with my marketing group, for making an advertisement for Atlantic Bank. All in all, I am well
rounded in marketing, finance, and as well as managing a business.
What Economists do?
When I was first introduced to the term Economics, I learned that it deals with the production,
allocation and the use of goods and services. In addition to that, I went about learning that
Economists perform economic research and develop theories that affect the economy. They
advise governments and businesses on taxation levels, wages and prices, employment and
unemployment, and imports and exports I have always thought what the world would do without
Economists. Being an Economist is not easy; developing theories and making assumptions to
equally benefit countries and individuals is a difficult task.

Thomas Sowell once said, Economics is a study of cause-and-effect relationships in an

economy. Its purpose is to discern the consequences of various ways of allocating resources,
which have alternative uses. It has nothing to say about philosophy or values, any more than
it has to say about music or literature.
I find this profession unique because we need economists everywhere. For instance, in
Banks
Businesses,
Governance, etc.
Economists do not find it difficult to obtain a job, because they can work for the government, in
businesses, in community affairs, and can also use their profession to teach or educate others.
As I gained more knowledge in this field, I found it fascinating and my passion for it grew
rapidly. This field of study has helped me understand Business Management in a whole and
making strategic decisions that will produce the best outcome.
What skills are needed to become an Economist?
Indeed, being an Economist also requires some skills. Economists in general need to

Think logically and analytically,

Examine issues clearly and concisely,
And be good at mathematics.

It does not matter in what particular field an economist decides to specialize in, these are the
three key skills that an economist needs to acquire. I have not perfectly mastered these skills. For
instance, I still need to work on being a good mathematician and analyze issues in depth.
However, as I go along learning and gaining experience, I will master these skills. This is one of
the fundamental reasons why several students find this field of study difficult. They are unable to
think analytically and examine the issues that affect the economy. Most individuals also find it
difficult solving economic problems and finding strategic solutions to certain dilemmas.
My Dream Job
After I complete my bachelors degree, I would like to work at the Central Bank, specifically in
the financing sector. In the financing sector, The Central Bank is directly responsible for
monetary policymaking. It is the process by which the monetary authority of a country controls
the supply of money often targeting an inflation rate or interest rate to ensure price stability and
general trust in the currency.
My second option is to work for the government at the Ministry of Finance. I would have to
specialize in being a Financial Economist to be more fitted for this working position. The salary
for these workplaces would be roughly $1,500 a month. However, It is more beneficial working
for the government since employees are granted pensions and other employee benefits. Of
course, here in Belize our salaries are less in comparison to the US. At the US, an economist
gains an average salary of $98,000 annually.

In five or ten years later, I see myself working in either of these two positions. In addition to that,
I would also like to consult companies in how to efficiently operate and manage their business.
After I work for some time, I would like to have a business of my own. It will not be easy to
obtain these working positions, however, I am a hardworking individual and I am determined to
achieve this goal.
After I am done with my Bachelors degree, I would like to be a part of the labor force. I would
apply at a banking institution to work temporarily. After I gain some experience, I would apply
for a position at the Central Bank or for the government at the Ministry of Finance. However, if I
were granted the opportunity to pursue my Masters degree in Economics, I would take it
without a doubt.
What it takes to become what you aspire to be
As Taylor Cowen once said, Economics is everywhere, and understanding economics can
help you make better decisions and lead a happier life.
All in all, I have enjoyed all my economics courses that I have taken throughout my years of
study. Not only have I grown a passion for becoming a monetary or fiscal policy maker, but I
have also grown a passion for other courses like Environment Economics.
For my first semester at Galen, I took an Environmental Economics course. Through this course,
I realized the great importance of production, and as well as the importance of achieving
sustainable development. I realized that indeed, you do need economics everywhere.
Economics affects the climate change and the environment through production. It affects how
businesses and citizens respond to the changes in the economy. It affects how people make
rational decisions through their daily lives. This realization made me question once again, what
would the world do without Economists? I am proud of my accomplishments and how far I have
gotten in my field of study. I plan to go further and pursue my Masters degree If God permits.