Economist

Economists study how societies distribute resources that are used to produce goods and services. According to the website www.searchbydegree.com economists analyze data on economic trends and make economic forecasts often using complex techniques of sampling and complex statistical analyses. Therefore aspiring economists should have a solid background in mathematics statistics sampling theory survey design and computer science. Many concentrate on a specific area such as general inflation interest rates exchange rates energy costs employment levels or taxes. They must be adept at communicating their findings in the form of written reports with tables and charts and sometimes they make oral presentations. With regard to education economists need broad familiarity with the principles of economics but at the graduate level they specialize in a subfield such as econometrics international economics or labor economics. There are a variety of jobs for qualified economists. They teach conduct research work for corporations or consulting firms or as financial market or public policy analysts. According to the website www.bls.gov entry-level government jobs usually require a bachelor’s degree with a concentration of courses in economics statistics accounting or calculus and many with bachelor’s degrees work in fields such a business finance or insurance. Those with bachelor’s degrees can teach economics at the high school level if they meet state certification requirements. However economists with higher degrees have a wider variety of job prospects. A master’s or Ph.D. degree is the norm for all but entry-level government positions as well as academic positions at colleges and universities. Many jobs in the private sector also require advanced degrees. Economists’ earnings depend on employer location experience and qualifications. The median annual salary is approximately $84000 with some earning less than $44000 but others earning more than $150000.

Education Required: Bachelor's Degree
Avg Salary: $97000
High Salary: $150000
Low Salary: $44000
Tasks: Analyzes economic data.
Predicts inflation.
Produces reports based on economic trends.
Conducts economic surveys.
Also Called: Macro Economist
Micro Economist
International Economist
Industrial Economist
Additional Resources: http://www.bls.gov/oco/ocos055.htm
http://www.jobs.nih.gov/positions/admin/economist.htm
http://www.searchbydegree.com/economist-career.html