Economist

What is this job like?		Back to Top

Economists do research. They prepare surveys to collect data and then figure out what the data mean. They also forecast how the economy might change in the future. Economists study topics such as prices, jobs, taxes, interest rates, and the stock market. Some economists study money and the banking system. Writing reports on their research is a very important part of their job.

Some economists work for Federal, State, or local governments. They help governments figure out policies related to taxes, trade with other countries, the minimum wage, and many other topics.

Other economists work for businesses. Economists often help them to figure out what to sell and at what price.

Economists work with numbers, charts, and computers. Economists have regular work schedules. They often work alone doing research. However, they also may be part of a team. Most must meet deadlines.

How do you get ready?		Back to Top

A master's or Ph.D. degree in economics is needed for many jobs. In the Federal Government, entry-level jobs require a bachelor's degree—about 4 years of college.

Courses in math, statistics, economics, and computer science are helpful. Learning how to write is also important because economists need to write reports.

How much does this job pay?		Back to Top

The middle half earned between $55,740 and $103,500 in 2006. The lowest-paid 10 percent earned less than $42,280. The highest-paid 10 percent earned more than $136,550.

How many jobs are there?		Back to Top

Economists held about 15,000 jobs in 2006. Over one-half work for governments. Many work for banks, consulting firms, and other businesses. Some work for themselves.

Most economists work in large cities.

What about the future?		Back to Top

Employment of economists should grow about as fast as the average for all occupations through 2016. More economists will be needed in businesses to do research. Governments also will need some economists to help study new policies. But many people who use economics in their jobs will have other job titles.

People with a master's or Ph.D. degree and strong math, statistics, and computer skills should have the best chance of getting a job. People with a bachelor's degree may face strong competition for jobs.

Are there other jobs like this?		Back to Top

• Accountants
• Actuaries
• Budget analysts
• Financial analysts
• Financial managers
• Insurance underwriters
• Loan officers
• Management analysts
• Market and survey researchers
• Personal financial advisors
• Purchasing managers, buyers, and purchasing agents

Where can you find more information?		Back to Top

More BLS information about economists can be found in the Occupational Outlook Handbook. The Handbook also shows where to find out even more about this job.

Last Modified Date: April 29, 2008