What does an Economist do?
An economist studies the distribution and production of services, goods, and resources through the interpretation and analysis of data on the study of economic issues and research trends. Economists may work in corporations, firms, and think tanks or with the World Bank, International Monetary Fund, or United Nations.
Other economists are post secondary teachers while half of work in federal, state, or local government.
How to Become an Economist
An Economist normally needs a Master’s degree or Ph.D., but in the case of entry-level jobs, such as in government, a bachelor’s degree is acceptable. An advanced degree in economics with a bachelor’s degree that is strong in a mathematical background is very important. However, for most of these jobs, a master’s degree or Ph.D. with graduate education and work experience is required, especially in international organizations, research, or business.
Job Description of an Economist
An Economist researches and analyzes economic issues and advises governments, businesses and individuals on economic topics. They prepare reports and charts giving their results from interpreting and forecasting market trends. He or she uses their analysis in a few different areas of fields, such as the environment, health, education, and development.
Some study the cost of energy, healthcare and products, while other economists watch and analyze exchange rates, employment levels, and business cycles. A few specialize in the effects of inflation, taxes, or interest rates. Often they will use spreadsheets, software programs, database management programs, and statistical analysis in their research.
An economist should be skilled in communication, critical thinking, analytical, math, writing and be detail oriented. Most work full-time in an office setting. The Bureau of Labor Statistics projects a 6 percent growth in 2014-2024 in this occupation which is as fast as average.