Who is Economist?
Economists play essential roles in a wide range of organisations across a wide range of sectors. From financial institutions to community development groups, these individuals play a critical role in discovering why people make choices and assisting companies in better tailoring their marketing and policies to these decisions and behaviours. A job as an economist offers a high earning potential as well as the opportunity to make a positive change within an organisation or community, among other benefits. This post will look at what an economist is, what they do, what qualifications are required to pursue this profession, and what qualities are required to be a successful economist.
An economist is a specialist who studies the link between society and how it makes use of the resources available to it. An economist may research a variety of societies, ranging from tiny towns to whole countries. To anticipate future trends for government and economic purposes, they are concerned with identifying the relationship between a community's or nation's resources and the goods produced from those resources.
Economists also assist firms in determining the logic behind the choices that individuals make, allowing them to develop more educated marketing campaigns. In addition, tax laws, organisational tactics, interest rates, regulations, and international trade agreements are all areas in which economists give expert judgments employed in several contexts. Finally, the ideas presented by economists are used by the government and organisations to prepare for the future based on the economists` forecasts about the economy's direction.
Typical day at work
What does Economist do?
Economists investigate how society allocates resources such as land, labour, raw materials, and machines in order to generate commodities and services. They conduct research, collect and analyse data, monitor economic trends, and develop forecasts on a wide variety of issues, including energy costs, inflation, interest rates, exchange rates, business cycles, taxes, and employment levels, among others.
- The individual develops economic models, creating company policies to reflect models.
- To collect and analyze political, financial and socioeconomic data.
- To conduct and utilize surveys by using various sampling techniques.
- To prepare historical data.
- To analyze market trends.
- To communicate economic data in accessible ways.
Abilities & aptitude needed
What are the skills, abilities & aptitude needed to become Economist?
For economists to be influential in their roles, the following are the most crucial talents they should have. First, an economist needs to be able to think logically and make the connection to find patterns and make sense of things.
Writing abilities: Economists compile and present data to others daily, and they must do it clearly and succinctly that is simple to grasp. Ability to communicate effectively: These experts must be able to successfully describe their results to others in a manner that can be readily understood and shared with others.
Qualifications in mathematics: Economists often use different forms of mathematics to draw connections within their subject and thus must be knowledgeable with the concepts of calculus, statistics, and other advanced mathematical topics. Essential abilities for economists include applying logic and reasoning to difficult situations to come up with answers to them. In addition, an economist's attention to detail is essential in identifying tiny features in data and producing data analyses that are exact and accurate.
Social science knowledge: Economists must also be well-versed in social science disciplines, such as history and sociology, to keep up with the latest developments in their area and appropriately detect social-related developments. Professionals in this industry must be interested in their subject and utilise this curiosity to ask the right questions to come up with efficient answers to economic problems.
Which course I can pursue?
Which are the best colleges to attend to become Economist?
Miranda House, Delhi
Delhi | Delhi UniversityNIRF Rank : 1
Hindu College, Delhi
Delhi | Delhi UniversityNIRF Rank : 2
Presidency College, Chennai
Chennai | UGCNIRF Rank : 3
St. Stephen`s College, Delhi
New Delhi | UGC,DUNIRF Rank : 4
Lady Shri Ram College for Women, New Delhi
New Delhi | Delhi UniversityNIRF Rank : 5
Loyola College, Chennai
Chennai, Tamil Nadu | University of Madras, ChennaiNIRF Rank : 6
Shri Ram College of Commerce, Delhi
New Delhi, Delhi | University of Delhi, DelhiNIRF Rank : 7
Hans Raj College, Delhi
Delhi | Delhi University,UGCNIRF Rank : 9
St. Xavier`s College, Kolkata
Kolkata, West Bengal | UGCNIRF Rank : 10
Savitribai Phule Pune University, Pune
Pune, Maharashtra | Savitribai Phule Pune University, PuneNIRF Rank : 10
Ramakrishna Mission Vidyamandira, Howrah
Howrah | University of CalcuttaNIRF Rank : 11
Gargi College, Delhi
Delhi | Delhi University, UGCNIRF Rank : 12
Madras Christian College, Chennai
Chennai | University of MadrasNIRF Rank : 13
Maulana Azad National Institute of Technology, Bhopal
Bhopal, Madhya Pradesh | AICTE, NBANIRF Rank : 14
Atma Ram Sanatan Dharm College, New Delhi
New Delhi | Delhi UniversityNIRF Rank : 14
JSS Medical College, Mysore
Mysuru, Karnataka | Rajiv Gandhi University of Health Sciences, KarnatakaNIRF Rank : 17
Deen Dayal Upadhyaya College.
New Delhi | UGC,Delhi UniversityNIRF Rank : 17
Kirori Mal College, Delhi
Delhi | University of DelhiNIRF Rank : 18
Punjabi University, Patiala
Patiala, Punjab | UGC, NAAC.AIUNIRF Rank : 18
Sri Venkateswara College, Delhi
Delhi | Delhi UniversityNIRF Rank : 19
Banasthali Vidyapith, Banasthali
Jaipur, Rajasthan | UGCNIRF Rank : 19
Dyal Singh College, New Delhi
New Delhi | Delhi UniversityNIRF Rank : 20
Symbiosis International University, Pune
Lavale, Maharashtra | Symbiosis International University, PuneNIRF Rank : 22
PSGR Krishnammal College for Women, Coimbatore
Coimbatore, Tamil Nadu | Bharathiar University, CoimbatoreNIRF Rank : 22
Thapar Institute of Engineering and Technology, Patiala
Patiala, Punjab | UGCNIRF Rank : 23
Acharya Narendra Dev College, New Delhi
New Delhi | Delhi universityNIRF Rank : 24
Indian Institute of Management Shillong
Shillong, Meghalaya | AutonomousNIRF Rank : 24
Jesus & Mary College, New Delhi
Delhi | University of DelhiNIRF Rank : 25
Fergusson College, Pune
Pune | Savitribai Phule Pune UnisversityNIRF Rank : 27
Rashtrasant Tukadoji Maharaj Nagpur University, Nagpur
Nagpur, Maharashtra | UGC,AIUNIRF Rank : 29
Mar Ivanios College, Thiruvananthapuram
Thiruvananthapuram | University of Kerala,UGCNIRF Rank : 29
Scott Christian College, Nagercoil
Nagercoil, Tamil Nadu | Manonmaniam Sundaranar University, TirunelveliNIRF Rank : 30
Maharshi Dayanand University, Rohtak
Rohtak, Haryana | UGC, NAAC-ANIRF Rank : 32
Thiagarajar College, Madurai
Madurai, Tamil Nadu | Madurai Kamaraj University, MaduraiNIRF Rank : 34
Loyola Institute of Business Administration, Chennai
Chennai, Tamil Nadu |NIRF Rank : 36
PSG College of Technology, Coimbatore
Coimbatore, Tamil Nadu | Anna University, ChennaiNIRF Rank : 37
Banaras Hindu University, Varanasi
Varanasi | ACU AIU NAAC UGCNIRF Rank : 39
St. Joseph's College, Tiruchirappalli
Tiruchirappalli, Tamil Nadu | Bharathidasan University, TiruchirappalliNIRF Rank : 39
Queen Mary`s College, Chennai
Chennai, Tamil Nadu | University of Madras, ChennaiNIRF Rank : 40
Maharishi Markandeshwar University, Mullana
Mullana, Haryana | Maharishi Markandeshwar University, MullanaNIRF Rank : 41
Xavier University, Bhubaneswar
Bhubaneshwar | UGC,NBA,AIUNIRF Rank : 44
National Institute of Technology Durgapur
Durgapur, West Bengal | Deemed UniversityNIRF Rank : 46
Sri Padmavati Mahila Visvavidyalayam, Tirupathi
Tirupati, Andhra Pradesh | UGCNIRF Rank : 46
Maharaja Agrasen College, Delhi
Delhi | University of DelhiNIRF Rank : 47
Sathyabama Institute of Science and Technology, Chennai
Chennai, Tamil Nadu | Sathyabama University, ChennaiNIRF Rank : 47
Govt. College for Women, Thiruvananthapuram
Thiruvananthapuram Kerala | Kerela UniversityNIRF Rank : 47
Pt. Ravishankar Shukla University, Raipur
Raipur, Chhattisgarh | UGCNIRF Rank : 48
Amity University, Gautam Budh Nagar
NOIDA | UGC?, ?NAAC?, ?WASC?, ?AIU?, ?ACUNIRF Rank : 49
Kanchi Mamunivar Centre for Post Graduate Studies, Puducherry
Puducherry | Pondicherry UniversityNIRF Rank : 49
Bethune College, Kolkata
Kolkata | ?University of CalcuttaNIRF Rank : 50
Lovely Professional University, Phagwara
Phagwara, Punjab | UGC, AIU, PCI, NCTE, COA, ACBSP,NIRF Rank : 52
VELS Institute of Science Technology and Advanced Studies, Chennai
Chennai, Tamil Nadu | ?UGC NAACNIRF Rank : 52
Sri Krishna Arts and Science College, Coimbatore
Coimbatore, Tamil Nadu | Bharathiar University, CoimbatoreNIRF Rank : 53
Malaviya National Institute of Technology Jaipur
Jaipur, Rajasthan | ?AICTE, MHRDNIRF Rank : 53
Kurukshetra University, Kurukshetra
Thanesar, Haryana | UGCNIRF Rank : 53
St. Thomas College, Thrissur
Thrissur, Kerala | Affiliated to University of CalicutNIRF Rank : 54
Shivaji College, Delhi
Delhi | Delhi UniversityNIRF Rank : 54
Sam Higginbottom Institute of Agriculture, Technology and Sciences, Allahabad
Allahabad, Uttar Pradesh | UGC, ACU AIU IAU IAUANIRF Rank : 56
St. Xavier's College, Ahmedabad
Gujarat | Gujarat UniversityNIRF Rank : 56
Sacred Heart College, Ernakulam
Thevara, Kochi | Mahatma Gandhi University, KottayamNIRF Rank : 57
Stella Maris College for Women, Chennai
Chennai | University of MadrasNIRF Rank : 58
Koneru Lakshmaiah Education Foundation University(K L College of Engineering), Vaddeswaram
Guntur, Andhra Pradesh | University Grants Commission, All India Council for Technical EducationNIRF Rank : 58
St. Joseph`s College of Commerce, Bengaluru
Bengaluru, Karnataka | Bangalore University, BangaloreNIRF Rank : 61
St. Teresa's College, Ernakulam
Ernakulam Kochi, Kerala | Mahatma Gandhi University, KottayamNIRF Rank : 64
Shoolini University of Biotechnology and Management Sciences, Solan
Solan, Himachal Pradesh | UGCNIRF Rank : 65
Silver Jubilee Degree College, Kurnool
Kurnool | Rayalaseema UniversityNIRF Rank : 66
Govt. Arts College, Thiruvananthapuram
Thiruvananthapuram, Kerala | Kerala UniversityNIRF Rank : 69
Farook College, Kozhikode
Kozhikode, Kerala | CALICUT UNIVERSITY, CALICUTNIRF Rank : 71
SRM Institute of Science and Technology, Chennai
Kattankulathur, Tamil Nadu | SRM University, ChennaiNIRF Rank : 73
St. Xavier's College, Palayamkottai
Tirunelveli, Tamil Nadu | Manonmaniam Sundaranar University, TirunelveliNIRF Rank : 74
V. O. Chidambaram College, Tuticorin
Thoothukudi, Tamil Nadu | Manonmaniam Sundaranar University, TirunelveliNIRF Rank : 77
Newman College, Idukki
Thodupuzha, Kerala | MG UniversityNIRF Rank : 78
Lady Doak College, Madurai
Madurai | MKU,MaduraiNIRF Rank : 79
Women's Christian College, Nagercoil
Nagercoil, Kanyakumari | Manonmaniam Sundaranar UniversityNIRF Rank : 81
St. Joseph's College, Kozhikode
Devagiri, Calicut Kerala | University of Calicut, MalappuramNIRF Rank : 82
Shri Mata Vaishno Devi University, Katra
Dudura, Jammu and Kashmir | UGCNIRF Rank : 85
National Institute of Technology Goa
Bandoda, Goa | autonomous premier engineering and technology universityNIRF Rank : 87
Sri Guru Gobind Singh College of Commerce, Delhi
New Delhi | University of DelhiNIRF Rank : 87
Sri Venkateswara University, Tirupati
Tirupati, Andhra Pradesh | UGCNIRF Rank : 89
Hindustan Institute of Technology and Science, Chennai
Chennai | NAAC; UGCNIRF Rank : 95
IK Gujral Punjab Technical University, Kapurthala
jalandhar | UGC, AICTENIRF Rank : 96
St. Xavier's College, Mumbai
Mumbai, Maharashtra | University of MumbaiNIRF Rank : 96
Sri Meenakshi Government College for Women, Madurai
Madurai, Tamil Nadu | Madurai Kamaraj University, MaduraiNIRF Rank : 97
Muthurangam Govt. Arts College, Vellore
Vellore, Tamil Nadu | Thiruvalluvar University, VelloreNIRF Rank : 98
KLE Academy of Higher Education and Research, Belagavi
Belagavi | UGCNIRF Rank : 98
Ramanujan College, New Delhi
New Delhi, Delhi | University of Delhi, DelhiNIRF Rank : 100
The Northcap University, Gurugram
Gurgaon, Haryana | BCI, NAAC, UGC, MHRD, AIUNIRF Rank : 117
Veer Surendra Sai University of Technology, Burla
Burla, Odisha | UGCNIRF Rank : 126
NMAM Institute of Technology, Nitte
Nitte, Karnataka | Visvesvaraya Technological University, BelagaviNIRF Rank : 128
YMCA University of Science and Technology, Faridabad
Faridabad, Haryana | UGCNIRF Rank : 144
Dr Vishwanath Karad MIT World Peace University, Pune
Pune, Maharashtra | UGCNIRF Rank : 154
National Institute of Technology, Arunachal Pradesh
Papum Pare, Arunachal Pradesh |NIRF Rank : 160
Manav Rachna International Institute of Research and Studies, Faridabad
Faridabad, Haryana | Manav Rachna International University, FaridabadNIRF Rank : 164
Maulana Abul Kalam Azad University of Technology, Nadia
Kolkata, West Bengal | Maulana Abul Kalam Azad University of Technology, KolkataNIRF Rank : 165
Which industries are open for Economist?
- Think Tank & Social Research
- Scientific Research & Development
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Are there internships available for Economist?
Take the internship job for 2 years and not less than that in order to have an understanding of practical aspects, gain knowledge and functioning of the organization. This will give you exposure to:
- Organizational Functioning
- Attention to details
- Learning the Skills on the live project
- Client handling
- Project Proposals
- Communication Taking place in the team within the interdepartmental process and a lot more.
What does the future look like for Economist?
Economists can identify problem areas in a location as well as potential prospects for addressing such issues. The Economist is a highly detail-oriented position that requires a critical mind to analyse data, work on research findings, assess the economic process, and bring forth the tangible results of the data about the organisation with which they are working. The Economist analyses current data in light of the current situation and considers future projections for the company's development. Economists operate under tight timelines, dealing with documentation containing many complexities and significant figures. Their ability to analyse and comprehend data makes them indispensable in their field.
Economists` advancement differs depending on the organisation. Entry-level assistant economists on the fast track programme at the GES, for example, might anticipate transferring across government departments to broaden their expertise. Promotion to the economic advisor position is based on merit and happens typically three to four years after entering the company. Graduate development programmes, such as those offered by the Bank of England, encourage graduates to advance their careers by moving across sectors and jobs to broaden their skills and knowledge.
Suppose you want to work in the private sector. In that case, you may start as an economic research officer or analyst and work your way up to become a senior economist or an economic consultant. Alternately, you may broaden your professional knowledge, networks, and abilities by switching organisations and, in some instances, industries. This broadens and deepens your CV and may also lead to a more diversified and intriguing professional path. Some top economists began their careers in academia before moving into industry or business, especially after participating in many industry-related research initiatives. Others will go on to further education after working in industry or business for a while.
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