How to become an economist

Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

Steps to get there

Most employers expect most of these occupations require graduate school. for example, they may require a master's degree, and some require a ph.d., m.d., or j.d. (law degree)..Extensive skill, knowledge, and experience are needed for these occupations. Many require more than five years of experience. For example, surgeons must complete four years of college and an additional five to seven years of specialized medical training to be able to do their job.

What economists do

• Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
• Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
• Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
• Explain economic impact of policies to the public.
• Review documents written by others.
• Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.

Skills that matter most

• Reading Comprehension
• Mathematics
• Critical Thinking
• Active Listening
• Writing
• Speaking
• Active Learning
• Learning Strategies

Is economist a good career?

On the numbers, this job pays above the typical job. Median pay is 145% above the all-occupation median. Whether it fits you depends on the work itself, the schooling you are willing to do and where you want to live.

Where it pays most

• District of Columbia $167,590
• New Jersey $167,550
• Delaware $159,120
• Maryland $144,680
• Kansas $138,790

Economists salary by state and city

Sources: O*NET® 31.0 (CC BY 4.0, USDOL/ETA) and BLS Employment Projections 2025–35. Pay: BLS OEWS May 2025.