How Do I Become An Economist?

If you love the thought of analyzing the effects of demand and supply in society, then you may want to become an economist. Economists have the task of analyzing the ways in which markets intersect. During a depression cycle, an economist’s task may be to determine which factors are creating the decline in consumer activity in the markets. When individuals speak about the economy on television, they typically have a degree in the field of economics. Maybe you have wondered, “How do I become an economist?” When you want to become an economist, it is important to obtain a bachelor’s degree.

What’s it like to be an economist?

Economists work for a variety of entities. When you are an economist, you may work for a think tank. Economists will frequently work for think tanks that analyze the ways in which countries determine their economic policies. An economist may also participate in research studies that focus on the implications of tax laws on trade and prosperity. Other individuals may be hired directly by companies to serve as economists. An economist who works for a company may need to study the demand that exists for a company’s product in the market. One may also become a professor in the field of economics. Economists will frequently receive their Ph.D in the field so that they can go on to teach courses at the university level.

An economist will typically work a normal 40-hour work week. If one decides to go into teaching, then he or she may need to put in extra time outside of classroom hours for teaching or office hours. A professor may also need to work on scholarly materials that can be published in a newspaper or academic journal.

Education Requirements

To become an economist for a think tank or company, one only needs to pursue a bachelor’s degree in economics. It is also helpful if a person obtains a major in other fields like statistics or mathematics. One may also want to supplement a bachelor’s degree in economics with other courses that will be helpful for thriving in this career field. Taking courses in a foreign language can make one a competitive candidate for an economics job in another country. When one obtains his or her doctoral degree in economics, then he or she will have the necessary qualification in order to teach at the university level. One may also want to become a journalist who reports on financial issues. If you have a degree in economics, then you will be able to become this type of journalist.

Salary & How to Get a Job

The starting salary for an economist is about $40,000 to $80,000. The salary varies greatly depending on the type of job that an economist decides to accept. If an economist decides to work for a think tank, then he or she will likely receive a starting salary of about $40,000 to $60,000. If an economist decides to work for a corporation, then he or she will receive a salary of about $70,000 to $80,000. When one teaches at the university level, then he or she will receive a salary of $80,000 to $100,000. The economics departments at colleges tend to receive very high funding. If one teaches at a private college, then he or she will likely earn an even greater salary.