Over the years, economics has evolved to become a more intricate profession and mostly in academia. The professionalization of economics in academia has been perceived to be “the principal change in economics since around 1900.” To date, economists are reviewing the course the profession should take. The deliberation of a scholarly introduction concentrating on mathematical techniques, and a public disclosure presentation, that focuses on communicating to individuals that use economic principles as they relate to public policy. Many principal universities have incorporated an economics faculty where students can attain an academic degree in economics. More so, many notable economists are based on mathematics, political science, law, sociology, history or business. A Ph.D. in economics takes approximately six years (5.3 years to be precise).
An undergraduate degree with a major in economics is adequate for a sales job, administrative, management trainee and entry-level research. Those that hold a major in economics can select from a vast category such as econometrics, microeconomics and macroeconomics to more sophisticated philosophical courses such as the history of economic thought. Mathematics, econometrics, statistics and computer science are very essential due to such quantitative skills required. Ambitious economists can, however, carry out surveys, collect and scrutinize data as well as writing reports while still undertaking their studies. This experience builds an excellent foundation for acquiring a full-time job in the field since most beginning careers revolve around such tasks.
Economists by profession study the manner in which a society utilizes scarce resources like raw materials, land, and labor to produce goods and services. They scrutinize the costs and advantages of allocating and consuming such products and services. They conduct research, study economic trends and develop predictions on various issues. Their research may focus on natural resources, real estate, interest rates, employment, imports among others. While other economists work for the private sector, a better half of them is employed by the government. Those that work for the government have a comprehensive understanding of economic relationships in employment, natural resources, education, the environment and more. Those that work in corporations advice business firms, banks insurance companies, security firms and other on the impact of particular economic policies on their firms.
Among the most prominent economists that exist is Christian Broda, who currently plies his work at Duquesne Capital Management as its Managing Director. The former Professor at the University of Chicago, Booth School of Business, conducts significant research that deal with macroeconomics, international trade, and finance. Among his prominent surveys and forecasts include why the dollar might strengthen in 2010, financial de-globalization, savings drain and the US dollar all published in 2009. His predictions have been essential since they have helped the country create necessary policies to upgrade the economy. Mr. Broda has also had the chance to present his findings to universities and various banks.