WHO IS AN ECONOMIST ?

 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.
 DUTIES OF ECONOMISTS
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 work in one of the three sectors:
 Government and Public sector enterprises
 Industry and Trade
 Banking and Finance

Economists often specialize as –

 Research Economists,
 Business Economists,
 Agricultural Economists,
 Financial Economists,
 International, Industrial or Labor Economists.
Research Economists
 Develop mathematical models to explain and interpret business
cycles, inflation, effects of tax policies or unemployment
 Use Mathematics and Statistics to the theory and principles of
Economics
 Apply econometrics for analysis and prediction of all economic
activity

Business Economists
 Work as company's administrators, making decisions about
company policies, plan future business activities in relation to
general business conditions, national and international trade
policies, governmental regulations and directives
Agricultural Economists
 Study economic aspects of agricultural problems in order to
increase efficiency of farm management, improve farm income
and effect favorable agricultural legislation
 Forecast production and consumption of agricultural products
 Locate optimum markets and deal with agricultural financing

Financial Economists
 Develop monetary policies and predict financial activity
 Examine credit structures and collection, banking methods and
procedures to devise techniques for regulation of lending, fixing
interest and discount rates
International Economists
 Collect and analyze statistical data and other information on
foreign trade for favorable trade balances
 Establish acceptable international trade policies, exchange
controls and operation of foreign exchanges
 Study, implementation and formulation of policies on
investments, and transfer of capital on the international scene

Labor Economists
 Study labor trends and policies
 Handle labor disputes, unions, industrial policies of
management
 Work as advisors to government or industry
Industrial Economists
 Studies the organizational structures of business to make
maximum use of assets
 Investigate methods of financing, production costs, techniques
of marketing policies for possible improvements
 Analyze market trends to relate production for future
consumption and interpret effects of governments regulations
and legal restrictions on industrial policies
 Employment Opportunities

 Government and public enterprises

 Banks
 Business journals and newspapers
 Census organization
 Employment organizations
 Finance and investment firms
 Labour departments
 Labour tribunals
 Market research organisations
 Research organizations
 CIVIL SERVICE
Std XII Stream : Commerce / Science with Economics
& Math

Graduation - Bachelors in Economics

Post Graduation – Masters / IES exam

Selection IES / RBI Department (DEAP)

Goal - ECONOMIST
 Graduates can specialize at the post graduate level.
Post graduation in business economics for entering the banking and
business sector, business journalism and media reporting on
business matters.
Post Graduates in Economics/Applied
 Economics/Business Economics/Econometrics in the 21-30 age
group are eligible for the Indian Economic Service examination
conducted by UPSC. It is an organized Group ‘A’ Central
Service which is involved in economic planning and analysis through
state boards, planning commissions, financial organizations and
government bodies for the country.
 The announcement for the examination is made in March every year
for the examination in September. The written examination has 2
parts - General English and General Studies papers of 150 marks
each. In Part II there are 3 papers of Economic. Two papers on
General Economics and one in Indian Economics. Economics papers
are of the graduate/postgraduate standard. Selected candidates
have to clear an interview, after which they are appointed to Grade IV
posts.
 Reserve Bank of India - Department of Economic Analysis
and Policy - DEAP is responsible for analysis, research and
policy formulation for the economy in monetary, banking and
pricing. It works on factors related to the international financial
segments and studies constantly their impact on the Indian
economy. Grade B officers are inducted through a written
examination followed by an interview.
Age- 21- 30 years
 Post graduates in Economics/ Econometrics/Commerce with a
minimum aggregate of 55 %. The written test pattern is the
same as described for DESAC the emphasis being Economics.
The first selection is through a 3 hour objective type subject
related paper. The candidates who pass this take a essay type
exam on economics related questions. Selected candidates are
interviewed for final appointment.
 The RBI has set up the Indira Gandhi Institute of Development
Research, Mumbai for Postgraduates in Management,
Economics, Engineering, Mathematics, Statistics, Operations
Research to study for an M. Phil/ Ph.D program
 Education for Economists
 A master's degree or Ph.D. is required for most economist jobs.
Positions in business, research, or international organizations
often require a combination of graduate education and work
experience. In addition, courses that introduce students to
statistical analysis software are helpful.
 Students can pursue an advanced degree in economics with a
bachelor's degree in a number of fields, but a strong
background in mathematics is essential. A Ph.D. in economics
may require several years of study after earning a bachelor's
degree, including completion of detailed research in a specialty
field.
 Candidates with a bachelor's degree may qualify for some
entry-level economist positions, including jobs with the federal
government. An advanced degree is sometimes required for
advancement to higher level positions.
 Where to study?

 Bangalore University
 Calicut University
 Delhi University
 Banaras Hindu University, Uttar Pradesh
 Kumaun University, Uttarakhand
 Meerut University, Meerut
 University of Pune, Pune
 CAREERS
ACADEMIC BUSINESS GOVERNMENT SPECIALITY
1. Professor 1. Business 1. Foreign Service 1. Actuary
2. Post Secondary Analyst Officer 2. Data Analyst
Teachers 2. Economic 2. Intelligence 3. Data scientist
Consultant Officer 4. Demographer
3. Financial 3. Policy Analyst 5. Journalist
Advisor 6. Researcher
4. Financial 7. Statistician in
Analyst Economics
5. Investment
Research
Analyst
6. Management
Consultant
7. Manager
8. Market
 ACADEMIC
professor
 An economics professor teaches and conducts research on a
variety of economic topics at colleges and universities.
 QUALIFICATIONS/PREFERRED SKILLS
Entry into a position as a professor generally requires a PhD.
Though some colleges or universities may hire professors or
adjunct professors with master's degrees, advancement in the
field requires a PhD. Strong research skills are necessary​ for
economics professors. When they are not teaching, professors
are conducting research. The ability to work independently as
well as with others is helpful. Though they have flexibility,
professors need to be self-disciplined; they often set their own
research schedules. Strong verbal and writing skills are also
important.
 BUSINESS
BUSINESS ANALYST
 Business analysts analyze and find solutions to problems within
a business. Using technology, they create models and
processes to improve business functions.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree is required to become a business analyst.
Many business analysts have previous business experience or
advanced degrees, like an MBA. Business analysts have
software or programming backgrounds, often through computer
science degrees. They are analytical strategists and problem
solvers. They also have strong programming skills.
Economic Consultant
 Economic consultants "conduct research, survey business
conditions, analyze policy and offer
expert testimony."1 Generally, they try to bring clarity to the
complexity of economic problems. Economic consultants
analyze business organizations' economic statuses and
propose plans to help improve and change their existing
programs. They generally work for a consulting firm and the firm
is hired by individual businesses.
 QUALIFICATIONS/PREFERRED SKILLS:
Consulting firms hire employees with bachelor's degrees for
entry-level positions, but advancement in the field usually
requires a PhD in economics or an MBA. A career in economic
consulting requires strong mathematic and statistical skills; any
programming skills are a plus.
FINANCIAL ADVISOR
 Financial advisors (also referred to as financial planners
or financial consultants) help guide individuals in
investment choices. They carry out financial research and
analysis to provide investment suggestions to clients.
Financial advisors may also assist their clients in tax
planning, estate and retirement planning as well as
household finances.
 QUALIFICATIONS/PREFERRED SKILLS:
Financial advisors generally have a bachelor's degree
and have taken the Certified Financial Planner (CFP)
exam. In order to sell stocks, bonds and mutual funds,
financial planners also need licenses obtained through
the FINRA exams. Financial advisors have good people
and sales skills. They need to have strong analytical skills
as well.
FINANCIAL ANALYST
 "A financial analyst provides guidance to businesses and
individuals making investment decisions. They assess the
performance of stocks, bonds and other types of
investments."1 They carry out financial research and analysis,
which they use to provide investment suggestions to clients.
Financial analysts evaluate the economic outlook of different
sectors and industries for organizations that wish to invest. A
financial analyst might work for a corporation or a public entity
managing funds and studying risk and profitability.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree is sufficient to enter the field. You may later
obtain an MBA with a finance emphasis or a master's degree in
finance. You may also become a Chartered Financial Analyst
(CFA) after four years of experience. Financial analysts have
excellent quantitative reasoning, statistics and mathematic
skills. They are strong communicators, both orally and through
writing.
INVESTMENT RESEARCH ANALYST
 An investment bank advises companies on acquiring, selling or
merging with other companies and on issuing debt and equity.
Investment research analysts assist the bank in proposing
these decisions through researching industry and markets,
building financial models and giving investment presentations.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree is necessary for entry-level positions.
Investment banks generally hire candidates who have strong
backgrounds in economics, accounting, finance or statistics.
Investment research analysts need strong research, statistics,
quantitative analysis and modeling skills. They need to have an
interest in markets and strong written and verbal skills, as they
will often write and present their research. Keep in mind that
research analysts work long hours, usually between 60 and 80
hours per work and sometimes over 100.
MANAGEMNET CONSULTANT
 "Management analysts, often called management consultants,
propose ways to improve an organization's efficiency. They
advise managers on how to make organizations more profitable
through reduced costs and increased revenues.“
 QUALIFICATIONS/PREFERRED SKILLS:
Management consulting firms hire employees with bachelor's
degrees for entry-level positions, but after two or three years,
employees are encouraged to pursue an MBA or secure
another industry job. Communication skills and the ability to
work well with others are a must. You must be a good problem-
solver and have great reasoning skills as well.
 HOW WILL YOUR ECONOMICS DEGREE HELP IN THIS
FIELD?
The logical reasoning skills and data analysis skills you have
acquired as an economics student will help you be able to
recognize changes that need to be made within a company to
optimize returns. As a management consultant, you need to be
able to synthesize large amounts of data and pinpoint
problems.
MANAGER (GENERAL)
 The general manager is responsible for all areas of a business. A
manager refers to any executive who has overall responsibility for
managing both the revenue and cost elements of a company's income
statement. These positions can include the Chief Executive Officer
(CEO), Chief Financial Officer (CFO), Chief Information Officer (CIO),
Chief Technology Officer (CTO), Chief Operating Officer (COO),
president, or other executives.
 QUALIFICATIONS/PREFERRED SKILLS:
There is no one path to management, but many managers have a
bachelor's degree as well as an MBA. Some managers have worked at
the same company their entire careers and moved up the corporate
ladder, while others have worked in other areas of business. Managers
need strong leadership and problem-solving skills. They need to be able
to solve problems in every area of the business.
 HOW WILL YOUR ECONOMICS DEGREE HELP IN THIS FIELD?
Your ability as an economics grad to analyze data and come up with
solutions to problems will be helpful in management. Also, the ability to
recognize the effects of certain policies or procedures within the business
is essential in a managerial position.
MARKET RESEARCH ANALYST
 Market research analysts identify potential customers by
calculating the demand for products and services offered by a
firm or its competitors. They develop pricing strategies while
ensuring the firm's customers are satisfied, and maximizing the
firm's profits. They also examine trends that indicate the need
for new products or services.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree is required for market research analysts,
and some companies prefer employees with advanced
degrees. Market research analysts must be comfortable with
statistics, mathematics and data analysis and have some
knowledge of marketing and business.
 HOW WILL YOUR ECONOMICS DEGREE HELP IN THIS
FIELD?
Economics graduates have the necessary skillset for market
research analysis. It requires solving problems using
mathematics and statistics. Market research analysts also
analyze data and forecast future conditions.
 GOVERNMENT
FOREIGN SERVICE OFFICER
 Foreign Service Officers (FSOs) are members of the United States Foreign
Service who create and implement the U.S. foreign policy. FSOs spend most of
their careers overseas as members of U.S. embassies, consulates, and other
diplomatic missions.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree is required to become a Foreign Service Officer (FSO). You
will need to choose an FSO career track before you begin the application
process (consular, economic, management, political and public diplomacy).
Then, you will take a series of tests, which include multiple-choice questions,
essays and verbal assessments. You will need to be able to obtain medical and
security clearances as well as be deemed fit for service by a panel. Knowledge
of economic principles and good analytical skills are needed for this job. Strong
English verbal and communication skills are also important and any additional
language skills are a plus. (The state department provides internship
opportunities for high school, undergraduate and graduate students).
 HOW WILL YOUR ECONOMICS DEGREE HELP IN THIS FIELD?
The U.S. Department of State is looking for employees who are passionate
about diplomacy, so this is especially appealing to economics graduates with
minors in international relations or political science. A knowledge of economic
principles and issues is imperative, in addition to good problem-solving skills.
INTELLIGENCE OFFICER
 An intelligence officer is a person employed by an organization to collect,
compile and/or analyze information (known as intelligence) which is of use to
that organization.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree or a master's degree in a subject related to one of the
analyst fields (analytic methodologist; counterintelligence threat analyst;
counterterrorism analyst; economic analyst; intelligence collection analyst;
leadership analyst; military analyst; open source officer; political analyst;
science, technology, and weapons analyst; cyber threat analyst; targeting
analyst) is required The CIA looks for candidates who have language skills and
foreign experience and they want employees who have strong verbal skills, a
strong macroeconomic background and good analytical skills. (The CIA also
offers internship and scholarship programs for high school students,
undergraduates and graduate students).
 HOW WILL YOUR ECONOMICS DEGREE HELP IN THIS FIELD?
Economic analysts study macroeconomic and microeconomic issues. They also
assess economic issues that could affect the security of the United States. The
CIA is especially interested in economists with backgrounds in international
trade, financial systems and energy issues.
POLICY ANALYST
 Policy analysts attempt to explain public and private policies and
their development. In some cases, analysts will be involved with
formulating policies for businesses or governments. Policy analysts
gather statistical data, analyze policies and project outcomes.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree is required, and most policy analysts either
have a JD or PhD. Employers look for candidates who have
experience, even in entry-level positions. Policy analysts are able to
interpret and analyze data. They have strong verbal and written
skills and they also have a thorough knowledge of the law,
government and democratic process.
 HOW WILL YOUR ECONOMICS DEGREE HELP IN THIS FIELD?
As a policy analyst, you will have a hand in creating and changing
economic policies. Your ability to analyze and synthesize data is
essential for this career
 SPECIALTY
ACTUARY
 Actuaries (or actuarial statisticians) apply statistics to access
risk in financial and insurance institutions.
 QUALIFICATIONS/PREFERRED SKILLS:
To become an actuary, you must have a bachelor's degree and
pass the preliminary exams. Actuaries have strong calculus and
statistics skills, and they are analytical problem-solvers. They
have good business sense and good communication skills.
They also have strong computer skills.
DATA ANALYST
 A data analyst synthesizes a large amount of data to explain
current trends and forecast future trends. Data analysts help big
companies make wise investment decisions.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree will qualify a data analyst for an entry-level
position. Graduate degrees or training in specific programs are
required for advancement. Data analysts are analytical and
have strong mathematic and statistics backgrounds. They are
detail-oriented and love searching through data. They have
strong computer skills (SQL, Python, SAS, R, SPSS). With
experience, data analysts can make more than double their
starting salary.
DATA SCIENTIST
 A Data Scientist uses statistical methods to interpret large
amounts of data. They use data to solve business
problems or answer questions.
 QUALIFICATIONS/PREFERRED SKILLS:
There are many entry level roles in the data science field,
but experience with data analysis, large data sets,
Python, R, and SQL is required for these roles. Senior
data scientists usually have either a master's degree
(from a specialized analytics program) or a PhD in
economics.
DEMOGRAPHER
 A demographer statistically studies the population and may
track trends such as birth/death rates, gender ratios, age ratios,
living conditions, etc.
 QUALIFICATIONS/PREFERRED SKILLS:
To become a demographer, you must have a bachelor's degree
in a social science field. An advanced degree in demography or
another related field is suggested. You need to be comfortable
with mathematics and statistics. Demographers are comfortable
with mathematics and statistics. They also have good research
and computer skills.
JOURNALIST
 An economic or business journalist collects and disseminates
information and trends related to economic changes or the field
of business.
 QUALIFICATIONS/PREFERRED SKILLS:
A bachelor's degree is required, but master's degrees are
becoming more common. Writing talent and experience in
journalism are a must, so a minor or double major in journalism
or English may be helpful. Economic/business journalists work
under deadlines and are knowledgeable about business and
the economy.
 HOW WILL YOUR ECONOMICS DEGREE HELP IN THIS
FIELD?
The ability to analyze and process information about the
economy and businesses is necessary for this career. You will
be reading and studying economic research relevant to your
article topics. You must be able to understand these papers and
condense and re-write the information for a general business
audience.
RESEARCHER
 An economic researcher applies economic principles and
data analysis to research economic problems and inform
public and private decisions.
 QUALIFICATIONS/PREFERRED SKILLS:
For an entry-level position, you may find a job in research
with a bachelor's degree. However, advancement
requires a PhD in economics. You must have statistical
and analytical skills as well as advanced oral and written
skills. Computer skills are also necessary.
STATISTICIAN
 Economic statisticians collect, process, compile and
disseminate statistics concerning the economy of a
region, country or group of countries.
 QUALIFICATIONS/PREFERRED SKILLS:
To become a statistician, you must have a bachelor's
degree and you may want to pursue an advanced
degree in statistics or a related field. Statisticians
have strong mathematics skills (algebra, calculus,
statistics, etc.). They are critical thinkers and use
mathematics and logical analysis to solve complex
problems. Programming skills are a plus.