Economists

Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

Median Annual Wage: $95,710

Education: Doctoral degree (58%); Master's degree (29%); Bachelor's degree (8%)

Projected Growth: Average (8% to 14%)

Related Job Titles: Research Analyst; Professor; Economist; Economic Analyst; Economic Consultant; Project Economist; Forensic Economist; Health Researcher; Economic Analysis Director; Professor of Economics

Source: O*NET OnLine information for Economists.

More Life, Physical, and Social Science Careers

  • Teach theories, principles, and methods of economics.
  • Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
  • Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
  • Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.
  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
  • Supervise research projects and students' study projects.
  • Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
  • Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.
  • Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources.
  • Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy and present recommendations based on cost-benefit analyses.

Source: O*NET OnLine information for Economists.

  • Speaking - Talking to others to convey information effectively.
  • Mathematics - Using mathematics to solve problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Instructing - Teaching others how to do something.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.

Source: O*NET OnLine information for Economists.

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