Type in a career question:
salary_header

How to become an Economist?

1 Answer(s)
Top Answer
Talent.com talent.com
Answered November 16 2021
Career Expert at Talent.com
An Economist isn't just someone talented with numbers. This skilled and professional group also adds a significant element of creative thinking to the role. Economists are self-starters, highly motivated individuals who conduct extensive research to understand and foresee the behavior of the financial world.   
     
Economists are expected to have completed at least a master's degree, specializing in Economics, Mathematics, Statistics, or related quantitative science. Some employers might even require their candidates to have obtained a Ph.D. in one of the fields above.   
    
Although employers weigh a lot of importance on the academic achievements of their prospective employees, they are aware that being book smart sometimes doesn't translate to a more practical approach. It's not uncommon for employers to encourage experience outside of higher education. The most common way aspiring Economists obtain this knowledge and expertise is by participating in an internship program. Internships in this field include conducting research, collecting and sorting data, and writing reports based on their findings.  
  
To move up in their industry and climb the career ladder, many young Economists choose to further their education, attending specialized courses, seminars, and conferences to develop their skills further and thus increase their knowledge of the field. This can provide them with a more competitive edge over other candidates.   
    
What can help you become an Economist
  • Computer skills and mathematical knowledge:   
The primary skill for Economists is their expert mathematical knowledge. Couple that with high proficiency in computer skills, and you may have the key to success in this business. Economists should be adept at using computerized tools and specialized software, including statistical programming languages (e.g., SAS, Stata, and R). They should be able to employ shared mathematical principles to analyze and predict economic trends and organize their data to be easily consumable by those with no experience in the field. This could include creating graphics, flow charts, and projections to present data and forecasts.    

  • Analytical, problem-solving, and decision-making skills:   
Economists solve problems and make decisions most of the day, and as such, they need to be effective when researching and analyzing numerical data. They need to adequately review data, observe patterns, and draw logical conclusions while also identifying issues and resolving problems, leading to their organization and time management skills. Economists are responsible for choosing what to prioritize first. They should plan their work to manage time efficiently while handling a high volume of work. Since an Economist's Day often ends within the regular office hours of 9-5, they must be efficient, have daily deadlines, and meet them. 
 
  • Excellent interpersonal and communication skills:  
Economists are excellent communicators. They are charismatic and command a room, often speaking on behalf of their company on financial matters, and thus speak to several prominent people throughout the day. As representatives of their company, their actions directly correlate with the values and image of their employer. At the office, they present financial issues to colleagues and advise clients on economic concerns, often finding themselves simplifying technical jargon and concepts as needed.
Easteregg!