Posted December 13, 2013 by

The Economist Career Horizon

Kunal Chhibber

Kunal Chhibber

If you are planning to become an economist it is quite important that you should know about all the aspects you need to possess to be a competent professional. In this post we will be discussing about all the requirements an aspirant should be adhering and the possible opportunities where one can make a great career as an economist.

Role of an Economist

Economists are accountable for looking at how civilizations and societies utilize materials, human resources, land and machinery, in order to produce variety of services and goods. These professionals analyze economic and data trends in order to offer metrics for a number of different statistics, which include taxes, employment levels, interest rates and inflation. Economists have insightful and in-depth knowledge of the economy and are capable to provide sound analysis on the same. They do this by studying and analyzing both the qualitative as well as quantitative data which they gather from different reliable sources pertaining to the economy.

Skills required

  • Analytical skills
  • Mathematical acumen
  • Logical thinking
  • Should be interested in ability to assess implications from an analysts view point and have interest in current affairs
  • Good communication skills to explain complex economic analysis to non-specialists
  • Ability to clarify thoughts and predictions in relation to the industry
  • Ability to handle concepts & figures with ease
  • Good in calculation to work with figures

If you are keen to join an organization, you will require a bachelor’s degree in economics. There are plenteous private sector companies which require a PhD in economics or master’s degree. The course components of the subject include mathematics, business, accounting, statistics, political science, law, sociology or history. Finance, public relations, accounting, information technology and public policy will also be covered in your degree program. The undergraduate courses will cover topics like micro and macroeconomics. To make a career in this field, you will need to have persistence and patience.

In case you are looking forward to go into teaching or do a job for the government, you will need a master’s or a PhD in the subject. It will teach you more specialized subjects which include topics of econometrics, regression analysis, etc. To ensure a smooth career as an economist you should be good with numbers and calculations.

Various Job Opportunities

There are various job opportunities for an economist across multiple industries which include the banking and finance, government and trade sector. This totally depends on your knowledge and skills; you may get interested to work in the government sector or jobs like statisticians, bankers, equity & financial research analysts, stockbrokers, etc. may interest you, which are basically financial sector jobs. Other lucrative and interesting career options for an economist include Labor economists, Agricultural economists, International economists and Industrial economists. All the above mentioned jobs would entail the following job responsibilities:

  • Formulate and Plan strategies & policies to achieve the overall objective for a company you are working for.
  • Use applications and statistical and mathematical theories to analyze specific data.
  • Applying numerous techniques and strategies for any economic activity.
  • Doing extensive research of both the national as well as the international economies; compare the differences and predict a valuable finding for the benefit of the company.
  • Examine, establish and study variety of regulations, trade policies and directives.

To Conclude

Most of these professionals work for about 40 hours a week in an office environment performing statistical research. As an Economist, you may need to travel to attend conferences and the work may also involve deadlines which will result in overtime. Those who have graduated in economics will frequently have numerous employment opportunities, if they have good analytical skills. Being an economist is a very respectable profession. It gives you a satisfaction as a result of plenteous detailed analysis, insightful discussions and healthy arguments. A career as an economist not only ensures dignified job opportunities around the world, but also excellent salaries.

Author Bio- Kunal Chhibber has years of experience writing unique articles covering the insights of the education sector. His high quality content combined with the detailed knowledge of this diverse sector is eminent in his articles. Other than being an accomplished writer he has been devoting his time to his passion for music as a part time DJ.

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