What Do Economists Do?

Economists collect and analyze data about how goods and services are produced, distributed and consumed. Sound a little dry? Actually it's anything but. Economics is a social science, it involves people and their choices which makes things a lot more interesting. Economists are passionate about using data and economic thinking to solve problems. It's kind of their superpower. Let's say you are an economist interested in the health of your community you know that a recent drought will cause the price for fresh vegetables to rise. How will this affect the kind of food families buy and the health of their children? Or maybe you're examining government policies that can help reduce carbon emissions, which one has the best chance of success? Or are you curious about which policies and programs will help more people in your community access quality housing? You could develop surveys, analyze past research, or use real-time data. Next you can take all that information and use special modeling tools to help find the answer. Over time economists develop deep understanding of complex economic issues and communicate about them. That's why your ability to write well, present economic and statistical concepts clearly using tables and charts, speak to groups and influence decision makers are critical skills. Maybe you are the chief economist at a big bank you read the financial news first thing in the morning and send a memo to all your bank managers about any economic trends that might impact their work. A journalist calls and asks you to comment on the economy. You fly to another state to make a presentation at a conference. Economists work under the pressure of tight deadlines, supervise the research of others, teach at colleges, consult to industries, make policy recommendations, interpret markets, and use mathematics to develop economic theories and predictions. Every Day brings new questions, new developments, new challenges, and as an economist you have expert knowledge and a wide angle view on all the action.