Careers Related to Economics
A degree in economics offers a variety of career options. In fact, economists can choose from a wide range of employers from government agencies to non-profit organizations to consulting firms and universities. This site is to help navigate through the different career paths/majors in economics.
Professional Economists work in three basic areas: academics, business, and government. Undergraduates generally pursue training beyond their BS/BA in economics if they wish to become professional economists.
Academic Economists teach and conduct research at colleges and universities. Entry into these positions typically requires a PhD.
Business Economists forecast and analyze various aspects of the economy or of particular markets.
Government Economists accumulate, interpret, and analyze national and international data in support of policy development.
Listed below are various career options for those pursuing a degree and/or further education in economics. Careers, job descriptions, and employers related to that career are mentioned as well. Note that not all possible employers are listed.
Business
| Career | Job Description | Employers |
| Economic Consultant | Economic consultants analyze business organizations' economic statuses and propose plans to help improve and change their existing programs. They are hired by individual businesses and the length of the project depends on a case by case basis. | Charles River Associates The Brattle Group Bates White Economic Consulting |
| Financial Planner | Financial planners and financial analysts help guide businesses and individuals in making investment choices. Both carry out financial research and analysis, which they use to provide investment suggestions to clients. But analysts and advisors differ in their clientele and in the information they give out. Financial analysts evaluate the economic outlook of different sectors and industries for organizations that wish to invest. Personal financial advisors work with individual clients and focus on a wide range of personal investment needs. | U.S. Department of Labor Chartered Wealth Manager American Academy of Financial Management (AAFM) |
| Investment Banker | Investment banks are in the business of providing governments and corporations with investment services, including buying, selling, and trading securities, managing assets, and giving financial advice. The five leading investment-banking firms fill the Bulge Bracket of investment banking: Morgan Stanley-Dean Witter, Merrill Lynch, Salomon-Smith-Barney, and Goldman Sachs. | JP Morgan Goldman Sachs Capital Partners |
| Management Consultant | Management Analysts conduct organizational studies, design systems or procedures, conduct work simplifications, and prepare operations or procedures manuals. All tasks are done to assist management in operating more efficiently and effectively. | IBM Global Business Services Value Partners Group ZS Associates |
| Manager | The general manager is responsible for all areas of a business. In general, a manager refers to any executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement. | Entreprenurial Any business from Arctic Circle to Wal-Mart to Google |
| Marketing Specialist | Marketing Managers identify potential customers by calculating the demand for products and services offered by a firm or its competitors. They develop pricing strategies while ensuring the firm's customers are satisfied, and maximizing the firm's profits. They also examine trends that indicate the need for new products or services. | Entrepreneurial Larger marketing businesses such as Johnson and Johnson, Kellogg's, Pfizer |
| Stock Broker | Stock brokers are regulated professionals who trade (buy or sell) stocks, shares and other securities in a financial market on behalf of investors. | NYSE Euronext Merrill Lynch Mutual Securities, Inc. Vanguard Capital |
Government
| Career | Job Description | Employers |
| Foreign Service Officer | Foreign Service Officers (FSOs) are members of the United States Foreign Service. FSOs create and implement the US foreign policy. FSOs spend most of their careers overseas as members of U.S. embassies, consulates, and other diplomatic missions. | U.S. Foreign Service |
| Intelligence Officer (CIA) | An intelligence officer is a person employed by an organization to collect, compile and/or analyze information (known as intelligence) which is of use to that organization. Organizations which employ intelligence officers include armed forces, police, civilian intelligence agencies and customs agencies. | CIA |
| Policy Analyst | Policy analysts attempt to explain public and private policies and their development. In some cases analysts will be involved with formulating policies for businesses or governments. | Legal Corporations U.S. House of Representatives/Senate State Legislative Bodies |
Other
| Career | Job Description | Employers |
| Demographer | A demographer statistically studies the population and may track trends such as birth/death rate, gender ratios, age ratios, living conditions, etc. | U.S. Census Bureau Various universities United Nations |
| Journalist | Journalists collect and disseminate information about current events, people, trends, and issues. | Associated Press New York Times NBC ABC |
| Researcher | Various universities National Bureau of Economic Research U.S. Government Economic Research Service (ERS) | |
Statistician (Economic or Actuary) | Economic statisticians apply statistics focusing on the collection, processing, compilation and dissemination of statistics concerning the economy of a region, a country or a group of countries. Actuarial Statisticians (actuaries) do the same, applying statistics to access risk in financial and insurance institutions. | U.S. Census Bureau Bureau of Labor Statistics |
Additional Articles for Reference:
What it Takes to Be an Economist By Katlyn Joy, eHow Contributor
What is an Economist? By Lesley Barker, eHow Contributor