Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues.
Although the majority of economists work independently in an office, some collaborate with other economists and statisticians. Most economists work full time during regular business hours, but occasionally they work overtime to meet deadlines.
Most economists need a master's degree or Ph.D. However, some entry-level jobs—primarily in the federal government—are available for workers with a bachelor's degree.
The median annual wage for economists was $99,180 in May 2015.
Employment of economists is projected to grow 6 percent from 2014 to 2024, about as fast as the average for all occupations. Job prospects should be best for those with a master's degree or Ph.D., strong analytical skills, and related work experience.
Explore resources for employment and wages by state and area for economists.
Compare the job duties, education, job growth, and pay of economists with similar occupations.
Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-2024 Edition
Interesting Fact
The Rx symbol used in pharmacology was originally as astrological sign for the planet Jupiter. Its use originated in the Middle Ages when doctors believed that planets influenced health.
