What is market viability?
The term market viability in regards to career choices refers to the economic potential of a particular course of study in its appropriate industry market. In simple terms it basically explains potential academic fields of study that are marketable and in demand in a given economy. It is the ability to thrive in even the harshest economic conditions that may determine a market viable course of study. We will look at the Top 5 market viable courses in Namibia.
The Importance of conducting a market study on prospective courses.
In many African Countries, it is imperative that learners conduct a research on career options and their market viability especially in regards to the country’s labor market during that economic period.
They may do this by engaging and consulting with industry experts and professionals in different fields of study in order to acquire first hand career advice on whether or not to pursue certain courses of study.
Not every course is a market viable course. For instance, the study of Astronomy or Astrology is not a market viable field of study in Namibia, and there is no labor related demand for it in our economy.
A country’s economy may be a guiding compass in regards to career choices. It is advisable to conduct research on the economic state of affairs and keep up with the current state of the nation’s affairs to determine the progress of economic development in the different industries if any.
Namibia’s economic state of affairs.
Namibia is generally a small country with a very small population compared to most other African countries, which makes for the slow growth in the economy. With increasing interest rates and a high inflation the 2021/2022 Fiscal period pushed the country’s economy into a much deeper dive in the recession. Contributing factors such as the Covid hit on the entire world’s population, the Russia and Ukraine war as well as the rising oil prices have been a significant disturbance to supply and distribution lines.
The oil price hike, although a direct result of the Russia/Ukraine war, has caused its own significant damage to the world’s economy as it affects transport and logistics in terms of oil supply, which directly also affect the supply of goods and services. All these have contributed to a deep plunge of Namibia’s economy with a stalling growth rate leading to high unemployment rates in the country.
According to the Namibian Statistics Agency the country’s GDP has increased by 4.4 billion from 45.6 billion in 2021 to 50 billion in 2022, while the IMF has projected Namibia’s economic growth by 3.7% in 2023.This indicates a growth in the country’s economic development, despite the circumventing factors.
Lets look at he Top 5 market viable courses in Namibia below
The Best Market Viable Courses to Consider Studying in Namibia.
5. Pharmacy.
Studying pharmacy in Namibia can provide students with the knowledge and skills needed to become a pharmacist, a healthcare professional responsible for preparing, dispensing and reviewing medication to enhance a patient’s health.
Pharmacy programs in Namibia typically cover a wide range of topics including pharmacology, pharmaceutical chemistry, pharmacokinetics, pharmacodynamics, as well as drug interactions and side effects.
Students will have the opportunity to learn about the specific healthcare challenges that the country faces and how to tackle them.
Graduates from pharmacy programs in Namibia can work in various settings such as hospitals, clinics, community pharmacies, and research institutions.
If you are seeking to pursue a career in pharmacy you may apply for the Bachelor of Pharmacy Degree at UNAM, the only Namibian university that offers it.
4. Psychology
Studying psychology in Namibia can provide students with a comprehensive understanding of the human mind and behavior.
The curriculum of psychology programs typically covers a wide range of topics, including cognitive psychology, developmental psychology, social psychology, abnormal psychology, and research methods.
Students will gain knowledge of key theories and concepts, as well as develop research and analytical skills. Graduates from psychology programs in Namibia can pursue careers in fields such as counseling, research, education, and healthcare.
Learners who wish to pursue a career in Psychology may apply for the Bachelor of Arts at UNAM, the only Namibian university that offers it.
3. Chartered Accountant
The Namibian Chartered Accountant market is quite interesting, as we observe a vast number of opportunities provided to many graduates within short periods of time. The accountancy and finance profession in Namibia has grown in increasing demand from corporate companies as well as government financial institutions, banks etcetera.
Persons who wish to pursue a career as an Chartered Accountant may apply for the Bachelor of Accounting (Chartered Accountancy) at the Namibia University of Science and Technology (NUST) as well as the UNAM by applying for the Bachelor of Commerce in Chartered Accountancy .
2. Law
The legal fraternity is critical for the stabilization and maintenance of law and order for every government. The Namibian legal fraternity is no different in that it constitutes of recognized institutions put in place to educate and train legal professionals to render services as may be required.
Individuals who wish to pursue a career in law may take on the Bachelors of Law Honors Degree, otherwise known as the LLB (Legum Baccalaureus) Degree.
The course of study is offered at the University of Namibia School of Law on both Distance/Online and Full time mode as well as at Stadio University which however only offers Distance/Online learning in Namibia.
1. Medicine & Nursing
The study of medicine is a very demanding job considering it involves the lives of people. Every country will always have a demand for medical practitioners and surgeons. The World Health Organization has indicated that African countries face a shortage of medical professionals as a result of poor funding, educational programs and infrastructure developments in the health science field of African countries. The field of medicine has not only become very lucrative as a result of the high demand for it but it also remains very market viable in terms of labor market prospects.
The field of medicine is wide enough to offer a variety of choices to students. These include the nursing practice of which persons who wish to pursue this career must apply for the Bachelor of Nursing Science (Honors) Clinical Degree, more information may be found at UNAM.
Persons who wish to study medicine may pursue the MBChB degree with the University of Namibia School of Medicine.
As a prospective student in Namibia, you are not limited to only the above options but various others. In addition as you look forward to your student life journey its just fair we let you in on a secret – you will need to prepare yourselves for “Academic Writing” and such here some pointers on how to do Academic Research.
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