Economists can apply the knowledge and skills they learn in their degree program to benefit many different types of organizations and industries.
- Corporations, for example, require the skills of economists to function, like individuals who can project customer demand and estimate future sales for firms to maximize profit. Almost all businesses can benefit from an economist that can properly analyze and interpret data and can communicate that information in an efficient and clear manner.
- Economists can also join consulting firms. Consulting firms conduct a large proportion of macroeconomic studies by gathering information from around the world and compiling large databases to attempt to identify correlations and trends.
- The federal government employs a large percentage of economists that gather and analyze data and also conduct surveys. For example, the Bureau of Labor Statistics studies salaries, industry growth, and employment rates. The Department of Commerce looks at the manufacture, allotment, and use of goods and services both domestic and international. Employees of the government also use economic data to forecast the consequences of new legislation or policies, such as Social Security, tax increases or cuts, increasing the budget deficit, trade regulations, or communications.
Job Resources for Economics
Career and Professional Development at LMU
- Omicron Delta Epsilon, the International Society for Economics