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Econ1010: The 10 Employability Skills

Econ1010: The 10 Employability Skills

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Author: Sophia Tutorial
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Identify the importance of the 10 Skills in economics and personal finance.

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Tutorial
what's covered
In this lesson, you will be introduced to the 10 essential employability skills and explore the specific skills you will be learning more about in this course. Specifically, this lesson will cover:
  1. Introduction to the 10 Skills
  2. Skills in this Course
  3. Skills in the Unit

1. Introduction to the 10 Skills

10 Employability Skills

The jobs of today look very different from the jobs our parents had. Whether you work in a cubicle or on a construction site, technology has changed — and is continuing to change — the ways we connect, communicate, and create in our careers. In the past, a college degree was enough to set you up for professional success. Today, employers want job candidates who also have the right skills to succeed.

That‘s why we’ve partnered with top employers, business leaders, and recruiters to identify 10 SKILLS that are critical to performing your best — not just in one field, but across all industries. These are skills that will prepare you for the needs of any future employer and set you up for success in a world that is constantly evolving.

10 Skills Chart

As you work through this and other courses, consider how you can use these 10 Skills to achieve your personal, academic, and professional goals.


2. Skills in this Course

When we think of economics, it’s easy to imagine investors trading stocks on Wall Street or international companies battling over supply and demand. But, in the modern world, economics affects every aspect of our daily lives. Simply put, economics is the study of how humankind uses its limited resources (such as time, money, goods, and services). And understanding these resources is not only the key to business success, it’s critical to your personal financial success as well.

think about it
Every day you make decisions that affect your personal financial future. You decide how to spend your time and money, which career to pursue, and how to grow the skills and experience you need to be professionally successful. In other words, you’re deciding how to allocate your personal resources to best support yourself and your family. When we think of our personal resources, it’s easy to forget that your most valuable resource is actually yourself.

The more skills and knowledge you have, the more valuable you become to future employers. You’ve already started investing in yourself by committing to your education here at Sophia Learning. And, over the next 12 weeks, you’ll not only gain a better understanding of economics and personal finance, but you’ll also practice four of the essential employability skills that will help you invest in yourself and your future. They are:

  • Problem Solving to find creative, effective, ethical, and evidence-based solutions to economic and financial challenges.
  • Productivity to plan and organize your finances as new priorities and needs emerge.
  • Technology to complete tasks and goals, communicate complex financial data effectively and stay competitive.
  • Agility to embrace change and adapt so you can achieve the results you desire.
As you practice these skills, you will gain insight into how you can plan for a healthy financial future. You’ll also build your understanding of how to identify and respond to economic trends in both your personal and professional life.

terms to know

Problem Solving Skill
The ability to define problems clearly, explore ideas, and create effective, ethical, and evidence-based solutions.
Productivity Skill
The ability to strategize, organize, and plan to best manage your priorities and time.
Technology Skill
The ability to confidently and efficiently use technologies to complete goals and tasks and maintain a competitive advantage.
Agility Skill
The ability to adapt in a changing environment to achieve desired results.

3. Skills in the Unit

As you begin with this first unit, you will explore these skills in relation to economics, the basics of financial planning and investing in your technology skills. You will begin to understand how you can use these skills to better review your personal finances and plan for the future. You will look deeper at how improving your skills can help you understand where you are today and the steps you need to take to achieve your financial goals.

In particular, we will focus on the following:

Productivity

  • Being efficient can reduce the time spent on any given task
  • Making the best choices/decisions can help your investments grow the most over time
Technology
  • Using tools like Excel and Google sheets can help you review your finances and plan for the future
  • Tools that can help you visualize your spending can be very helpful
Problem Solving
  • Understanding your financial journey can help you plan for unexpected expenses
  • Knowing what lies ahead allows you to make wise investments in yourself so you can stay on track
Agility
  • As circumstances change, it is key to be able to pivot and adjust spending
As you begin your journey in Econ1010, consider why being agile is not just beneficial to you, but also important to employers. It’s a skill that matters when it comes to personal finance, but it is also one that can benefit you at work. Check out this infographic about Putting Agility to Work for more information.

of

hint
Throughout the course, be on the lookout for various call outs to help you better see the connections between the skills and the course content.

summary
In this lesson, you learned that there are 10 essential employability skills. Employers seek individuals who possess these skills and continue to work to strengthen them. These skills cut across all professions and career paths. You learned how problem solving, technology, productivity, and agility will be incorporated into this course and why they are valuable.

Best of luck in your learning!

Terms to Know
Agility Skill

The ability to adapt in a changing environment to achieve desired results.

Problem Solving Skill

The ability to define problems clearly, explore ideas, and create effective, ethical, and evidence-based solutions.

Productivity Skill

The ability to strategize, organize, and plan to best manage your priorities and time.

Technology Skill

The ability to confidently and efficiently use technologies to complete goals and tasks and maintain a competitive advantage.