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Economists

Economists
Quick Facts : Economists*
2010 Median Pay$89,450
Entry Level EducationBachelor's degree
Work Experience in Related OccupationNone
Number of Jobs, 201215,400
Job Outlook6% (Slower than average)
Employment Change900


Economists study the production and distribution of resources, goods, and services. They apply economic analysis to issues within a variety of fields, such as education, health, development, and the environment. Some economists study the cost of products, healthcare, or energy.

What Economists Do

  • Analyze data using mathematical models and statistical techniques
  • Prepare reports, tables, and charts that present research results
  • Advise businesses, governments, and individuals on economic topics
  • Design policies or make recommendations for solving economic problems
  • Write articles for publication in newsletters and academic journals

Work Environment

Economists often work independently in an office. Although most work full time, some must work overtime to meet deadlines.
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Job Outlook

Employment of economists is projected to grow 6 percent from 2010 to 2020 since businesses and organizations are increasingly relying on economic analysis and methods to analyze and forecast business, sales, and other economic trends.
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Pay

The average salary of economists was $89,450 in May 2010.
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Economists*
Average Annual Salary, May 2010

Economists

89450

Life, Physical, and Social Science Occupations

59516.2857

All Jobs in the U.S.

52312.5223
Economists*
Percent Change in Employment

Economists

5.84416

Life, Physical, and Social Science Occupations

13.36232967887606

All Jobs in the U.S.

15.767561808929724

Becoming a Economists

Students can pursue an advanced degree in economics with a bachelor's degree in a number of fields, but a strong background in math is essential. A Ph.D. in economics requires several years of study after earning a bachelor's degree, including doing detailed research in a specialty field.
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