 |
FACTOIDS:
|
• Economists and marketing research analysts held about 70,000 jobs in 1998.
|
|
• Mick Jagger studied at the London School of Economics before dropping out to form The Rolling Stones.
|
|
• In recent years, the Nobel Prize for Economics has consisted of a gold medal, a diploma and $1,000,000.
|
|
|
 |
|
- Economists study the economy, but of course, that includes a number of things. Natural resources, consumer spending, distribution of goods and services, energy costs, interest rates and international trade are just a few.
- Most economists are concerned with practical applications of economic policy. They advise businesses and other organizations, including insurance companies, banks, securities firms, industry and trade associations, labor unions and government agencies.
- They use mathematical models to develop programs that predict the answers to questions regarding the nature and length of business cycles, the effects of a specific rate of inflation on the economy or the effects of tax legislation on unemployment levels.
- There are economists in almost every area of government. For example, economists at the US Department of Commerce study production, distribution and consumption of commodities produced overseas, while economists employed with the Bureau of Labor Statistics analyze data on the domestic economy such as prices, wages, employment, productivity, and safety and health.
- Preparing reports on research results is an important part of an economist’s job. Economists have structured work schedules. They often work alone, writing reports, preparing statistical charts and using computers, but they may also be an integral part of a research team.
|
|
|
- The most important skill for an economist is the ability to synthesize and analyze complex information. Economic models are known for their complexity. These complex formulas are the lifeblood of economics. To be an economist, you must understand why they work.
- Economists must also be good with numbers, statistics and research. Patience and persistence are necessary qualities, since economists and marketing research analysts must spend long hours on independent study and problem solving.
- An economist often needs to be able to present complex information in a clear and concise manner.
|
|
|
- A bachelor's degree in economics is excellent preparation for many entry-level positions as a research assistant, administrative or management trainee or marketing interviewer.
- Whether working in government, industry, research organizations, marketing or consulting firms, economists and marketing research analysts with graduate degrees usually qualify for more responsible research and administrative positions.
- Economics includes many specialties at the graduate level, such as advanced economic theory, econometrics, international economics, and labor economics. Students should select graduate schools strong in the specialties in which they are interested.
|
|
- Opportunities for economists should be best in private industry, especially in research, testing and consulting firms, as more companies contract out for economic research services. The growing complexity of the global economy should spur the demand for economists.
|
Sources: Occupation Outlook Handbook, Bureau of Labor Statistics; HiringTools
|
