Economists Job Description video

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It’s been said that money makes the world go round. The people who study just how and why that happens, are economists. Because the global economy is the financial lifeblood of all the world’s people, economics—the study of the economy—is of vital importance. The growing complexity of the global economy, competition and increased reliance on quantitative analysis of business and political trends, all demonstrate the need for economists. Politics, the stock market, business and labor markets, international trade, demography, and technological advance are just some of the areas of interest to economists. They look for solutions to problems arising from the movement of people, products and capital. They use economic modeling and forecasting techniques to research issues such as energy costs, inflation, interest rates, import and export volumes, and employment trends. Governments use economists to formulate economic guidelines and standards. That means economists may be called to testify before Congress and other legislative bodies. Strong research and problem-solving skills are important. In addition to collecting and analyzing data, you need to be able to write up your findings and recommendations. Becoming an economist takes at least a bachelor’s degree, though more often a master’s degree or even a Ph.D. is required. Economics, with its reliance on research and statistics, has been called “the dismal science.” But, to those striving to understand the intricacies of how humanity creates wealth and prosperity, economics can be fascinating.

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