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The Federal Reserve Board employs just over 400 Ph. D. economists, who represent an exceptionally diverse range of interests and specific areas of expertise.
Business economists help managers understand the economy to inform their decision making. For example, economists may analyze consumer demand and sales to help a company maximize its profits. Economists also work for international organizations, research firms, and consulting firms.
Economists lead on analytical projects and influence policy decisions using in-depth economic theory and analysis. You are just as likely to move across specialisations as you are to move up within your existing specialisation.
Last updated on September 6, 20231, the BLS reports that the number of positions for economists from 2022 through 2032 is expected to grow at a rate of 6% over the decade. This is roughly twice as fast as the economy-wide average; the BLS states that ?The average growth rate for all occupations is 3 percent?.
Labor economics involves the study of all that affects these workers before, during, and after their working lives, for example, childcare, education, pay and incentives, fertility, discrimination, their non-work time, and pension reforms.
Approximately one-third of all economists are employed by the government. Financial Institution Examiners ensure compliance with laws governing financial institutions and transactions. They review balance sheets, evaluate the risk level of loans, and assess bank management.
Banks employ economists to not only study the macro conditions that make our economy work and make predictions, but also study the micro elements of business and make projections. Almost all government agencies hire economists. In the federal government, both Congress and the Executive Branch have economic advisors.
Economists typically need a master's degree. Positions in business, research, or international organizations may require a master's degree or Ph. D. and work experience.