5 Places Economists Work

Places Economists Work

  • Corporations
  • Nonprofits
  • Government
  • Banking
  • Education

A career as an economist offers a wide selection of job titles and settings. You may find the field of economics appealing if you are research-oriented, analytical and a problem solver. There are countless ways in which you can combine economics with another area of interest, and an economics degree can provide a strong base for future study in business, law, healthcare or public policy. Let's take a look at just five places economists work to give you an idea of the versatility a career in economics can hold.

1. Corporations

there are plenty of ways in which professionals with economic knowledge are needed in the world of business. Companies hire those with such backgrounds in positions like sales manager, market research analyst, accountant, actuary and benefits analyst. Corporations need people who can develop, analyze, reconcile and promote the financial implications that are inherent within for-profit organizations.

2. Nonprofits

Nonprofit agencies hire economists in a wide array of roles. Such organizations often need financial projections in order to keep themselves afloat, as they rely on public, private and individual funding. Grant writers and development specialists are also needed to solicit the operational costs required for success. Employment analysts may also be employed in these settings to help determine the most efficient organizational structure with regard to staffing.

3. Government

There is no shortage of need for an economist in the government sector at all levels. Federal, state and local branches need economic expertise for such positions as urban planners, financial analyst, internal revenue examiner, intelligence specialist, lobbyist and international trade economist. Economic consultants are also highly valued within aspects of government.

4. Banking

Within the banking industry, the need for economic and financial insight abounds, as is likely no surprise. However, there are some jobs with which you may not be familiar. Administrators such as the president and vice-president of a bank should have a strong understanding of economics. Credit analysts and loan officers are needed to offer the most secure loans. Collection specialists are tasked with obtaining payment on unpaid debts. Financial advisers are often employed through banks or private firms to advise individuals regarding their investments.

5. Education

Colleges, universities and other educational institutions employ economists in a number of capacities. Teachers, instructors and professors provide direct education among the tenants of economics for future professionals in the field. Researchers in academia are tasked with studying various trends in order to provide necessary information to guide policy makers and others. Researchers and teaching staff alike frequently publish their findings and expertise within professional journals in order to disseminate information to others employed in economics or those with an interest in the subject.

These are merely five areas in which economists work. There are plenty more, and the types of jobs you can hold with an education in economics are practically limitless. If becoming an economist interests you, you're likely to find that it is a position that can afford you a fulfilling and challenging career that provides security.

See also: Best Affordable Online Master's in Economics Degree Programs