What does an economist do?

I'm exploring different career paths and the role of an economist caught my attention. Could someone explain what the daily responsibilities of an economist are and what sort of skills or education are required?

Economists are professionals who study the production and distribution of resources, goods, and services. They conduct research, collect and analyze data, monitor economic trends, and develop forecasts to guide industries and governments in making strategic decisions. This can include studying the economic implications of specific events, laws or policies, researching issues related to employment, inflation, or exchange rates, or aiming to predict future economic trends.

In terms of daily responsibilities, economists analyze data using mathematical models and statistical techniques. They prepare reports that present research results, explain economic phenomena, and make predictions about future economic trends. Additionally, they may suggest economic policy recommendations to businesses, government, or individuals based on their research findings.

Education-wise, an economist generally requires at least a bachelor's degree, but higher-level positions often require a master's degree or a PhD in economics. During their schooling, economists typically study a range of topics including microeconomics, macroeconomics, econometrics, economic statistics, and economic history. Skills often needed in this role include analytical thinking, critical problem-solving, and proficient use of statistical software. They should also possess strong communication skills, as presenting their findings and explaining complex economic concepts in easy-to-understand terms is an essential aspect of their job.

All in all, economists play a crucial role in understanding how different aspects of society—from individuals to businesses to governments—interact to shape our economic reality. The career can be both intellectually challenging and rewarding for those with a strong interest in economic theory and quantitative methods.