Economist

AAA

DEFINITION of 'Economist'

An expert who studies the relationship between a society's resources and its production or output. The societies studied may range from the smallest of local communities to an entire nation or even the global economy.

The expert opinions and research findings of an economist are used to help shape a wide variety of policies, including interest rates, tax laws, employment programs, international trade agreements and corporate strategies.

INVESTOPEDIA EXPLAINS 'Economist'

There is a good chance that someone interested in a career as an economist will work for the government. According to the Bureau of Labor Statistics, roughly 50% of all economists work for either a federal or state agency. The remainder are employed as professors, by corporations or as part of economic think tanks.

A career as an economist has two main requirements. First, economists generally hold advanced degrees, such as a PhD or a master's degree. Second, economists typically develop an area of specialization where they focus their research efforts.

RELATED TERMS
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects ...
  2. Leonid Hurwicz

    A professor of economics at the University of Minnesota and winner ...
  3. Roger B. Myerson

    An American economist and winner of the 2007 Nobel Prize in Economics, ...
  4. Jeffrey Sachs

    An American economist who is director of the Earth Institute. ...
  5. Alfred Nobel

    The man after whom the Nobel Prize is named. Nobel, born in 1833 ...
  6. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
Related Articles
  1. How Influential Economists Changed Our ...
    Fundamental Analysis

    How Influential Economists Changed Our ...

  2. Understanding Supply-Side Economics
    Economics

    Understanding Supply-Side Economics

  3. Adam Smith: The Father Of Economics
    Economics

    Adam Smith: The Father Of Economics

  4. Economic Indicators That Do-It-Yourself ...
    Investing Basics

    Economic Indicators That Do-It-Yourself ...

comments powered by Disqus
Hot Definitions
  1. 80-10-10 Mortgage

    A mortgage transaction in which a first and second mortgage are simultaneously originated. The first position lien has an ...
  2. Passive ETF

    One of two types of exchange-traded funds (ETFs) available for investors. Passive ETFs are index funds that track a specific ...
  3. Walras' Law

    An economics law that suggests that the existence of excess supply in one market must be matched by excess demand in another ...
  4. Market Segmentation

    A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will ...
  5. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center