Economics
Completion of an Associate of Arts Liberal Arts Degree with an emphasis in Economics Science provides a solid foundation to pursue a Bachelor’s Degree. Potential career paths for students pursuing an Economics degree include economist, economics educator, business management and leadership, entrepreneur, and financial, investment, or policy analyst.
ECON-2301. Principles of Macroeconomics. (3 Credits)
(3-3-0) Core Area 080 This course is taken for academic credit. Students will earn an A, B, C, D, F, or W. An analysis of the economy including the measurement and determination of aggregate demand and aggregate supply, national income, inflation and unemployment. Other topics include international trade, economic growth, business cycles, and fiscal policy and monetary policy.
ECON-2302. Principles of Microeconomics. (3 Credits)
(3-3-0) Core Area 080 This course is taken for academic credit. Students will earn an A, B, C, D, F, or W. Analysis of the behavior of individual economic agents, including consumer behavior and demand, producer behavior and supply, price and output decisions by firms under various market structures, factor markets, market failures and international trade.
What Economists Do
Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues.
Duties
Economists typically do the following:
- Research economic issues
- Conduct surveys and collect data
- Analyze data using mathematical models, statistical techniques, and software
- Present research results in reports, tables, and charts
- Interpret and forecast market trends
- Advise businesses, governments, and individuals on economic topics
- Recommend solutions to economic problems
- Write articles for academic journals and other media
Economists apply both qualitative and quantitative economic analysis to topics within a variety of fields, such as education, health, development, and the environment. Some economists study the cost of products, healthcare, or energy, while others examine employment levels, business cycles, exchange rates, taxes, inflation, or interest rates.
Economists often study historical trends and use them to make forecasts. They research and analyze data using a variety of software programs. They sometimes present their research to various audiences.
Many economists work in federal, state, and local government. Federal government economists collect and analyze data about the U.S. economy, including employment, prices, productivity, and wages, among other types of data. They also project spending needs and inform policymakers on the economic impact of laws and regulations.
Economists working for corporations help managers and decision-makers understand how the economy will affect their business. Specifically, economists may analyze issues such as consumer demand and sales to help a company maximize its profits.
Economists also work for international organizations, research firms, and think tanks, where they study and analyze a variety of economic issues. Their analyses and forecasts are frequently published in newspapers and journals.
Many PhD economists become postsecondary teachers.
SUMMARY
- 2022 Median Pay: $113,940 per year, $54.78 per hour
- Typical Entry-Level Education: Master's degree
- Work Experience in a Related Occupation: none
- On-the-job Training: none
- Number of Jobs, 2022: 17,600
- Job Outlook, 2022-32: 6% (Faster than average)
- Employment Change, 2021-32: 1,100
What Economists Do
Economists collect and analyze data, research trends, and evaluate economic issues for resources, goods, and services.
Work Environment
Although the majority of economists work independently in an office, many collaborate with other economists and statisticians. Most economists work full-time during regular business hours, but occasionally, they work overtime to meet deadlines.
How to Become an Economist
Economists typically need at least a master’s degree to enter the occupation. However, some entry-level jobs—primarily in the federal government—are available for workers with a bachelor’s degree.
Pay
The median annual wage for economists was $113,940 in May 2022.
Job Outlook
Employment of economists is projected to grow 6 percent from 2022 to 2032, faster than average for all occupations.
About 1,100 openings for economists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as retiring.
State & Area Data
Explore resources for employment and wages by state and area for economists.
Similar Occupations
Compare the job duties, education, job growth, and pay of economists with similar occupations.
More Information, Including Links to O*NET
Learn more about economists by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
SUGGESTED CITATION
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Preschool Teachers, on the Internet at https://www.bls.gov/ooh/life-physical-and-social-science/economists.htm (visited January 21, 2024).
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Some careers in this field will require a bachelor's degree.
- TVCC's AA degrees are fully transferable to public universities in Texas. See an academic advisor or TVCC's university transfer webpage for more information on this transfer opportunity.
- Many of TVCC's AAS degrees lead to an online Bachelor of Applied Arts and Sciences (BAAS) degree with participating universities. See an academic advisor or the BAAS transfer website for more information on this transfer opportunity.