What It Takes To Become An Economist

Up to 50 percent of aspiring economists fail to get a job within a few years of their graduation. And yet each year more and more people decide to become economists. Most of them are literally buying into the economist degree convinced that it would provide quick jobs and hence a better salary. This information is for those who want to learn what it takes to become an economist like Christian Broda in the first place – a degree, hands-on experience, skills or whatever.

Economists need to have a master’s degree or doctorate degree in economy as the main subject. However, some organizations open their doors for those who have a bachelor degrees although the positions are mainly entry levels. This is a fact that is surprising as well because there are only a handful of career fields that need a master’s degree or Ph.D to enter and economy is one such field. These economists once graduated go on to get positions in research, business, international organizations and educational institutions. Some of these places also require work experience along with special skills.

Students who are interested in economy can always pursue higher studies once they graduate with a bachelor’s degree in economics. A strong background of mathematics is required in every case. A Ph.D in economics involves several years of curricular study following a bachelor’s degree. This includes detailed research study in any specialty field. Aspiring economists with a bachelor’s degree who have qualified for entry-level economist positions in government organizations have greater chance of getting jobs in other areas where economists are required. Advanced degree can only take them to a higher level position in these organizations. Most aspiring economists who finish bachelor’s degree find jobs outside their field, such as research, finance, market research analysis, business and consulting.

Candidates who want to become economists can gain valuable experience as interns with companies that gather and analyze data, research economic issues and trends and write reports on various findings and so on. Experience working in finance and business for these individuals is an added bonus. Aspiring economists need to have important qualities for jobs as well. They must be able to review data, observe changes and draw conclusions in their tasks. As an example, an economist in a research field must be able to analyze employment trends in order to make future projections on jobs. Similarly, any candidate wanting to become an economist should have great communication skill and be able to explain their findings to others. This may involve giving presentations of their reports, advising clients on economic issues and much else.

Critical thinking is another skill economists should possess. They should be able to use logic to solve complex issues. They must be able to figure out how the existing trends will affect their organizations. They should also be detail oriented. Analyzing data is essential in order to ensure accuracy of their reports. Economists must be able to use calculus, statistics and other mathematical subjects in their findings as well.

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