Koramangala, Bangalore +91-9108510058 [email protected]
Get In Touch


How To Become an Economist

Published By Team Setmycareer on Aug 30, 2023

How To Become an Economist

An economist is a specialist who studies the connection between a society's wealth and its performance or development. Economists research a wide range of cultures, from small independent populations to whole countries and even the global financial system. An economist's expertise and analytical studies have been used to influence a broad series of initiatives, namely borrowing costs, tax codes, jobs schemes, foreign multinational treaties, and marketing approaches. An economist's responsibilities are extremely diverse: Develop market analysis, conduct surveys, and gather data; interpret data utilizing quantitative methods, computational tools, and applications; and display research findings in papers, graphs, and maps. Evaluate and predict industry trends; provide policy advice to companies, states, and employees; propose alternatives to economic woes; and publish comments for scholarly publications and certain publications.


Eligibility Criteria

  • Must possess at least 50% aggregate from a recognized institution in 12th, from any board PUC/CBSE/ICSE/ISC, etc. However, the cut-off margin varies with the selection process of different colleges.
  • One must acquire a degree/diploma or certification in a recognized establishment to become an Economist. This is a basic qualification you must require to enroll in this line of work.
  • A Bachelor's degree in Economics, Statistics, Finance, or Accounting can help you pursue a career as an Economist. However, to truly understand Business Analytics, you will require hands-on experience or a course tailored to teach you the specifics.
  • An MA/MBA in Economics can also prove to be helpful while looking for a higher degree and extensive learning.

Tasks to perform

  • Establish monetary recommendations and principles, as well as different viewpoints for market development and strategy formulation.
  • Estimate natural resource management, production, and use, as well as exhaustible resource availability, demand, and degradation.
  • Using analytical formulas and computational methods, assemble, interpret, and publish data to describe economic events and predict industry patterns.
  • Construct observation studies and propagate results in the form of technological papers or analytical journal papers.
  • Examine the social effects of existing laws, taxation, utilities, and rules, as well as other policies and programs.

Knowledge required

  • Learning and Preparation — Understanding of concepts and techniques for school and classroom planning, teacher and community coaching and guidance, and practice impact assessment.
  • Computer Application — Understanding the prospects and functioning of circuit boards, processing units, circuits, electrical devices, computer equipment, plus applications and programming.
  • English Grammar — Familiarity in English Grammar of the form and substance of the English language, along with the context and pronunciation of words, principles of grammar, and language.
  • Arithmetic Prowess — Being able to evaluate and interpret various mathematical equations and use them to address complex problems in arithmetic, geometry, calculus, and other areas.
  • Economy and Finance — Understanding of associated taxation standards and practices, as well as capital markets, finance, and business information collection and analysis.

Skills required

  • Innovation and Development — Practical implementation of basic sciences and innovation This involves the application of concepts, methods, processes, and machinery to the layout and manufacturing of different products and facilities.
  • Pace of Perception — Comparing commonalities and dissimilarities between collections of characters, figures, items, images, or sequences precisely and efficiently. Simultaneously time or one after the other, the stuff to be compared can be viewed. Evaluating a given object with a recalled object often involves this skill.
  • Error Response — The capacity to state whether something is flawed or is expected to go south. It does not require fixing the problem, but rather understanding the presence of one.
  • Time Management — Interacting and switching between different tasks and activities without consuming excess time to provide results.
  • Deduction — Applying scientific principles or devising new methods to tackle problems or find effective solutions for different agricultural needs.

Is This Career Right For You?

Are you feeling uncertain about your career path? Not sure which direction to take? Take the first step towards a fulfilling future

Job roles offered

Once you procure the required qualifications for becoming a Economist, a myriad of options are open to you. There are multiple projects you can undertake throughout this line or work, and there are many other fields you can branch out to.

  • Agricultural Economists: Agriculture Economists refer to the market or administration side of farming. As an agricultural economist, you'll be responsible for monitoring agribusiness output and developing strategies that increase productivity while requiring the least amount of effort and benefit. It entails field, grain, and cattle conservation, as well as soil quality and feedstock watering strategies. Agricultural economists are meant to handle farmland and agricultural services using their management principles and problem-solving strategies. They also predicted farm commodity demand patterns. They maintain a constant track of changing patterns, forecast why they are evolving, and adjust tactics in response to consumer demand. Crops, costs, machinery, inputs and deliveries, climate patterns, new processing technologies, and agricultural animal welfare are all monitored. They are also in charge of negotiating with producers and businesses that need farm goods.
  • Health Economists: Professionals who study how our services are spent in health care are known as health economists. They also concentrate on allocating reserves and the preservation of workplace wellbeing in the healthcare industry. They can work for the government or private business owners in the medical industry. A health economist can examine Medicare coverage and its various specializations using the knowledge and resources they gained through their schooling and professional experience. Health economists can assess healthcare programs and address a variety of issues in the area. Healthcare facilities, colleges and research, institutions, healthcare providers, pharmacy organizations, government authorities, and many foreign agencies are among these professions. With too many options, a health economist is sure to find the best field of clinical psychology to implement his or her knowledge and skills.
  • Policy Analyst: Technical scholars, policy analysts are. They're all problem-solving experts. Their role is to look at individual problems. They collect and interpret information relevant to the concern. They formulate alternative solutions to the problem based on the information they've gathered. As part of the process, they could create an estimate for the system's estimated expenses or a revenue study that demonstrates why each approach is more efficient than another. They report their results after compiling all important documentation and drawing assumptions on their proposals to overcome the matter. Economic researchers can be hired by the administration in response to consulting with businesses and research organizations. Government policy analysts will evaluate possible initiatives as well as provide details on the consequences of enforcing particular proposals. They can also evaluate possible contractors who can deliver necessary resources and decide who could be hired to deliver such assistance.
  • Economic Developers: Economic developers are also crucial in using government and industry donations to pay cities, recruit new enterprises, promote gain employment, and support established companies with extension and configuration. Economic developers play a crucial role in forming public-private alliances and organizing activities and interactions among various agencies, regions, and stakeholders. It is their responsibility to get the various parties to the negotiating table, mobilize money, mediate and pair customers with vendors, and promote diplomatic relationships. Economic developers must also fill in the differences and offer help wherever businesses and organizations are unable or unable to fulfill the customers’ needs. This emphasizes the importance of economic developers as knowledge providers.
  • Policy Analysts: Policy analysts try to sway cultural and legislative events to increase general consciousness on various topics. Conducting, studies reviewing existing policy, assessing the implications of new laws, and publishing conclusions are all part of this process. Although it is possible to act as a generalist in this field, more policy analysts might select practice and develop experience in a specific region. Policy analysts usually work a combination of workplace research, field research, and travel, with lengthy and erratic hours. People who seem to be excited about development and reform, who are effective listeners, and who provide an insightful perspective to analyzing and presenting details are ideal candidates for this position.

Career opportunities

Economist can opt for various fields of work in the companies listed below:

  • Quona Capital
  • Kotak Mahindra Bank
  • The Economist Intelligence Unit (The EIU)
  • Myntra
  • Accenture
  • GreyB
  • Oracle
  • iRageCapital Advisory Private Limited
  • Boston Consulting Group (BCG)

Colleges offering courses

  • Lady Shri Ram College, New Delhi
  • St. Xavier's College, Kolkata
  • Loyola College, Chennai
  • Christ University, Bangalore
  • Presidency University, Kolkata
  • Madras Christian College, Chennai
  • A.V. College of Arts, Science and Commerce, Hyderabad
  • Indian Institute of Management, Ahmedabad
  • St. Andrew's College of Arts Science and Commerce, Mumbai
  • National Post Graduate College, Lucknow



please leave your comments

Dr. Nandkishore Rathi 01 july, 2023

Career As Web Developer

Read More
Dr. Nandkishore Rathi 01 july, 2023

Career as a Management Analyst

Read More
Dr. Nandkishore Rathi 01 july, 2023

Career As Sound Engineer

Read More

Talk To Our career Experts

Please Feel Free to Contact Us

Mon - Sun (9:00 AM to 8:00 PM)

We understand that making important career choices can be overwhelming and uncertain. The decisions you make today will shape your professional journey and have a lasting impact on your life. That's why we highly encourage individuals like you to talk to our experts before making any significant career decisions. Our team of experienced career counselors is here to provide you with the guidance and support you need to make informed choices that align with your aspirations and goals.

Call to ask any question


Get in Touch With Our Career Experts!