Economist - Professions

Professions

Economists work in many fields including academia, government and in the private sector, where they may also "...study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess this information using advanced methods in statistical analysis, mathematics, computer programming they make recommendations about ways to improve the efficiency of a system or take advantage of trends as they begin."

In contrast to regulated professions such as engineering, law or medicine, there is not a legally-required educational requirement or license for economists. In some job settings, the possession of a Bachelor's or Master's degree in economics is considered the minimum credential for being an economist. However, in the US government, a person can be hired as an economist provided that they have a degree that included or was supplemented by 21 semester hours in economics and three hours in statistics, accounting, or calculus. Also, a person can gain the skills required to become a professional economist in other related disciplines, such as statistics or some types of applied mathematics, such as mathematical finance or game theory. It also includes writing articles mainly research based on economics and economy and getting them published in highly accorded journals or magazines. Generally, the most respected economists have obtained a PhD in the field (though this is not a necessary requirement for being a successful economist).

A professional working inside of one of many fields of economics or having an academic degree in this subject is widely considered to be an economist, and any person within any of these fields can claim to be one. Economists are also employed in banking, finance, accountancy, commerce, marketing, business administration, lobbying and non- or not-for profit organizations.

Politicians often consult economists before enacting policy, and many statesmen have academic degrees in economics (see List of politicians with economics training).