Economists research and report on how countries and markets utilize human and natural resources to produce products and services.

Economists Career Definition

Economists study how societies and markets distribute resources, such as raw materials, land, human labor and capital in order to create goods and services.

The following are examples of types of economists:

Econometricians develop models and use mathematical analyses to test economic relationships. They use techniques such as calculus, game theory, and regression analysis to explain economic facts or trends in all areas of economics.

Financial economists analyze savings, investments, and risk. They also study financial markets and financial institutions.

Industrial organization economists study how companies within an industry are organized and how they compete. They also examine how antitrust laws, which regulate attempts by companies to restrict competition, affect markets.

International economists study international trade and the impact of globalization. They also examine global financial markets and exchange rates.

Labor economists study the supply of workers and the demand for labor by employers. Specifically, they research employment levels and how wages are set. They also analyze the effects of labor-related policies, such as minimum wage laws, and institutions, such as unions.

Macroeconomists and monetary economists examine the economy as a whole. They may research trends related to unemployment, inflation, and economic growth. They also study fiscal and monetary policies, which examine the effects of money supply and interest rates on the economy.

Microeconomists study supply and demand decisions of individuals and firms. for example, they may determine the quantity of products consumers will demand at a particular price.

Public finance economists study the role of government in the economy. Specifically, they may analyze the effects of tax cuts, budget deficits, and welfare policies.

You can build career in following organization:

Federal government, excluding postal service
Management, scientific, and technical consulting services
State and local government, excluding education and hospitals
Scientific research and development services
Finance and insurance

Duties

Economists typically do the following:

Research and analyze economic issues
Conduct surveys and collect data
Analyze data using mathematical models and statistical techniques
Prepare reports, tables, and charts that present research results
Interpret and forecast market trends
Advise businesses, governments, and individuals on economic topics
Design policies or make recommendations for solving economic problems
Write articles for publication in academic journals and other media sources