Economist Career

What Does An Economist Do?

Economists are the professionals who analyze production and distribution of goods, services and resources. They generally work independently. Their work is highly critical so they have to work fulltime and sometimes overtime to meet the deadline given.  Economists are trained to think or analyze the production, demand, supply and consumption and other basic operations of businesses. They study cost and benefits of supply and consumption of different kinds of products.

 

They are responsible for conducting research and surveys to collect exact data to monitor economic trends that help them develop a forecast. They in their research focus on varied aspects such as costs, inflation farm prices, employment, imports, rent and so on. Economists work with practical applications and develop an economic policy in their particular fields such as Labor, agriculture, finance, real estate, transportation, health industry, energy and natural resources. They also analyze what the society requires to take its perfection. Economists do not limit to any particular field, they instead hold jobs in diverse sectors like as business, academia and government sectors.

Economist’s Work Environment

Most economists generally work independently in an office but many of them work in a team by collaborating with statisticians and other economists. Most of the economists work from home or their own office independently but some have to travel to attend conferences in different cities and states. Job types are different for them and these vary economist to economist as per the nature of work and field they work in. As the work is typical, so they have to work fulltime in government however some of them work part time in diverse fields such as scientific, management and professional consulting services.  Local, state and Federal Governments generally hire skilled and knowledgeable economists. Some private agencies and nonprofit organizations also hire economists to handle the diverse responsibilities.

How To Become An Economist?

Candidates who dream to become an economist need to develop some special intellectual skills such as communication skills, analytical skills, writing skills and Maths skills. When it comes to the education required for a profession as an economist, a Master’s Degree or Ph.D is professionally required. Positions in Government are filled after ensuring the fulfillment of educational criteria. Some research, business and internal organizations generally set a criteria as a combination of two three years work experience and bachelor degree as education.

For availing the great opportunities, students should complete an advanced degree in economics along with the bachelor Degree.  If the students feel it comfortable to devote some years more, they can complete Ph.D in Economics after completing their Master’s Degree. The candidates who complete their bachelor degree become eligible for qualifying entry level economist positions. Some jobs in federal Government require the candidates who hold advanced degree. Some higher level positions require the candidates with advanced degree.

After completing Master’s degree and Bachelor Degree, aspiring candidates can achieve valuable experience by working with any organization under internships. They can have experience in analyzing and gathering data, finding out critical issues and trends in the particular field. They can have experience in how to write reports on findings.  

15 Best Economics Schools in United States

College / University Certificate Associate Bachelor Masters Doctorate
Harvard University
Massachusetts Hall, Cambridge, MA, 2138
   
Massachusetts Institute of Technology
77 Massachusetts Avenue, Cambridge, MA, 02139-4307
   
Princeton University
1 Nassau Hall, Princeton, NJ, 08544-0070
   
University of Chicago
5801 S Ellis Ave, Chicago, IL, 60637
   
Stanford University
Stanford, CA, 94305
   
University of California-Berkeley
200 California Hall, Berkeley, CA, 94720
   
Northwestern University
633 Clark St, Evanston, IL, 60208
 
Yale University
Woodbridge Hall, New Haven, CT, 6520
   
University of Pennsylvania
34th & Spruce Street, Philadelphia, PA, 19104-6303
   
Columbia University in the City of New York
West 116 St and Broadway, New York, NY, 10027
   
New York University
70 Washington Sq South, New York, NY, 10012-1091
   
University of Minnesota-Twin Cities
100 Church Street SE, Minneapolis, MN, 55455-0213
   
University of Michigan-Ann Arbor
503 Thompson Street, Ann Arbor, MI, 48109
   
University of Wisconsin-Madison
500 Lincoln Dr, Madison, WI, 53706-1380
   
California Institute of Technology
1200 E California Blvd, Pasadena, CA, 91125
       
... View all Economics schools and colleges in USA

Economist’s Salary

The job as an economist is high-paying profession. It gives what you can expect of the good profession. However it may vary for candidate to candidate as per his position and skills. There are many factors that determine the salary of an economist. These factors include size of organization, industry, candidate’s skills and experience, location and the position of the candidates. The data collected from the thousands of the HR departments suggests that the candidates with job title economists earn a sound monthly payment. Through the data collected, average annual salary is more than $100,000. Some persons may earn more than the average salary and some others may earn less than it.

Economist’s Career Path & Growth

Study of Economics opens number of doors of employment by creating an array of options for the candidate. After completing Graduation in Economics, candidates can hold different kinds of jobs in diverse fields. Degrees in economics point candidates towards becoming an attorney. Economics major is logically suited for this reputed career. The job as attorney does not require typical finance, but it necessarily require skills set developed by education and experience. Economics major create a path of sound career in the business world.

Auditor careers are also the best line for those who want to focus on the numbers, but don’t have interest to be strictly an economist. Companies or organizations hire financial auditors to work with them. The candidates who complete their degrees in economics can build a career in education. You can educate the economists of the future and develop a base for them in the sector. By providing knowledge and skills to the new generation, you will keep the flow of the knowledge of economics to the next generation. Career as a purchasing agent in the corporations is bright and paying one. The professionals decide what kinds of things organizations require.


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