Economists analyze government and economic data to predict and forecast economic trends in a region, country, or the entire world. They conduct research on various segments of an area's economy such as commodities, finance, labor, agriculture, and trade. After conducting the research, they use data complied in order to make forecasts and predictions concerning the state of the economy, and how to keep it growning and thriving.
Economists usually work for colleges, universities, think tanks, or government agencies. Economists usually have a normal schedule, but like many researchers it may require working beyond the regular 8-5 work schedule. And like most researchers in the academic and government realm, a post-secondary degree (a Master's or a Doctorate) is required in Economics or Business in order to be a respected economists.
Some respected economists with years of experience, take jobs in the media realm as to give information about consumer affairs, and the state of the local and regional economies. They do commentary on decisions that government or local companies make and how it can effect their business or their economies as a whole.
As some economists do work in the media, most do work in the educational or government sectors. They use their research to advise government officials to make decisions that are best for the economy as a whole. They advise government officials about the effects of raising or cutting taxes, spending or cutting budgets, or certain policies in order to help the economy growing.
- Compile reports and illustrations of research findings.
- Devise methods for data collection, sampling, and processing in regard to finance, labor, agriculture, commodities, trade, etc.
- Design and conduct research to identify trends, formulate forecast models.
- Advise the government, agencies, corporations, and/or banks about the adoption of financial policies.