Question

What training and qualifications are required for a career as an economist? Are the qualifications different for jobs in the private sector than for those in the government

Answer 1

Answer-

Economist Education

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.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.

Qualifications

Entry is possible with a degree in economics (2:1 or above), or a joint degree including the following combinations:

• economics with finance
• economics with law
• economics with management studies
• economics with mathematics
• economics with politics
• international economics.

Graduates completing joint degrees should ensure that the majority of their degree modules are in economics and that they have studied both microeconomics and macroeconomics.A good honours degree in another subject may allow entry to the profession but only after completing a postgraduate economics qualification. Some employers will also look for good A-level results.

Job Prospects

Job prospects should be best for those with a master’s degree or Ph.D., strong quantitative and analytical skills, and related work experience. As companies contract out economics-related work, most job openings for economists will be in consulting services. Applicants with a bachelor’s degree should face very strong competition for jobs. Although there will be greater demand for workers with knowledge of economics, many bachelor’s degree holders will likely find jobs outside the economist occupation, working instead as research assistants, financial analysts, market analysts, and in similar positions in business, finance, and consulting.