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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 often work independently, typically in an office setting. Economists typically work in an office setting. They often work independently, but they also may collaborate with data scientists, statisticians, or other specialists. Some economists may be required to travel, such as to attend conferences.
Possible employers include local and national government, public and private banks, insurance companies, think-tanks, large multinational companies, financial consultancies, accountancy firms and local authorities. A sound awareness of current affairs and economic contexts is essential in these roles.
Top Jobs for Economics Majors By the Numbers Average SalaryProjected Job Growth 2021-2031Financial Manager$166,05016%Journalist$86,290-3%Lawyer$163,7708%Market Research Analyst$78,88013%8 more rows ? 08-Sept-2023
These firms offer advice to and predict economic scenarios for individuals and large corporations, and occasionally act as consultants to branches of the government. However, universities and research groups remain the largest employers of economists, followed by the government.
Economics graduates also find employment in areas such as: banks (high street and city) charitable and not-for-profit organisations. consultancies. insurance and accountancy firms. government departments and think tanks.
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.
Major companies, including Amazon, eBay, Google, Microsoft, Facebook, Airbnb, and Uber, have large teams of PhD economists working to engineer better design choices.