Economics Professor

Your Fit

Income

$120K

Preparation

Extensive

Growth

3.8%

Definition
Your fit with this career
How much they earn
What they do
Job satisfaction
How to become

What is an Economics Professor?

An Economics Professor is an academic expert specializing in the study of economics, focusing on how societies, governments, businesses, and individuals allocate resources. They are responsible for teaching economic theories, conducting research, and publishing their findings.

Sample job titles:

Economics Instructor, Economics Professor, Instructor, Professor

Your test results

Why this fit score?

The fit report shows your areas of fit and misfit with Economics Professor.

Fit report

Test scores

The scores report summarizes what we learned about you. It shows your results on everything measured in the career test.

Scores report

How much does an Economics Professor earn

According to the U.S. Bureau of Labor Statistics, typical income (in USD) in 2024 was...

Bottom 10%	Bottom 25%	Median (average)	Top 25%	Top 10%
$58K per year	$81K per year	$120K per year	$167K per year	$217K per year

Compared to other careers: Median is $70K above the national average.

See income by country/state/province

What does an Economics Professor do?

Work environment

Economics Professors typically work in colleges and universities, conducting lectures in classrooms, performing research in offices or specialized research facilities, and attending academic conferences. They may also engage in public speaking or consulting activities related to economic policy or business strategies.

Quick task list

Teaches undergraduate and graduate courses in various economic subjects.
Conducts research and statistical analysis to explore economic issues.
Publishes findings in academic journals and books.
Supervises student research projects and theses.
Participates in academic committees and contributes to curriculum development.

See full list of tasks with expert relevance ratings

Areas of specialization

Microeconomics: Analyzing the behavior of individuals and businesses in decision-making.
Macroeconomics: Studying overarching economic factors, like inflation, national income, and unemployment.
Development Economics: Focusing on economic development in low-income countries.
Behavioral Economics: Exploring the psychological aspects influencing economic decisions.
Environmental Economics: Examining the economic impacts of environmental policies.

Description

Economics Professors play a vital role in advancing economic knowledge and understanding. They teach a range of courses that can cover anything from basic economic principles to complex economic theories and models. Effective teaching involves not only conveying theoretical knowledge but also discussing its application in real-world scenarios, thereby preparing students for careers in economics, finance, government, and various other fields.

Their research can cover a wide array of economic topics and often involves complex statistical analysis and modeling. This research is critical for developing new economic theories or policies and can have far-reaching impacts, influencing everything from government policy to business strategies. As part of their research duties, they are expected to publish in academic journals, contributing to the broader economic discourse.

In addition to teaching and research, Economics Professors are involved in a variety of academic services, such as advising students, serving on committees, and participating in academic conferences. They may also engage in public policy discussions, offering their expertise on economic matters to the media, government agencies, and other organizations.

Job Satisfaction

Sources of satisfaction

Contributing to the advancement and dissemination of economic knowledge.
Mentoring and shaping the minds of future economists.
Engaging in meaningful research that can influence economic policies and theories.

You might make a good Economics Professor if you are...

Fascinated by how economies operate and the factors that influence economic decisions.
A strong communicator, capable of explaining complex economic concepts in an understandable manner.
Analytical and detail-oriented, with a strong aptitude for mathematics and statistical analysis.
Curious and always eager to research and explore various economic theories and issues.
Committed to academic rigor and intellectual growth, both for yourself and your students.

Pros:

Intellectual fulfillment from studying and teaching a dynamic and impactful field.
Opportunities for research and publishing that can influence real-world economic policies.
Variety in work, from teaching to research to public engagement.

Cons:

The pressure of academic publishing and securing research grants.
Balancing teaching duties with extensive research responsibilities.
The need to constantly update knowledge in a field that is always evolving.

How to become an Economics Professor

Typical education

Becoming an Economics Professor usually requires a Ph.D. in Economics, which involves approximately 8-10 years of post-secondary education, including both undergraduate and graduate studies.

High school preparation

Courses:

Economics to understand the basics of the field.
Mathematics, especially statistics and calculus, for quantitative analysis.
History and Social Studies to appreciate the context of economic systems.

Extra-Curricular Activities:

Joining a debate club to develop analytical and public speaking skills.
Participating in economics or business clubs.
Engaging in volunteer work or internships related to business or community development.

Preparation after high school

Pursue a bachelor's degree in economics or a related field.
Engage in undergraduate research opportunities and internships in economic research or related areas.
Obtain a master's degree and a Ph.D. in Economics, specializing in an area of interest.
Gain teaching experience, possibly through graduate teaching assistantships.

More resources

American Economic Association (AEA) - Provides resources, publications, and networking opportunities for economists.
National Association for Business Economics (NABE) - Offers a platform for business economists and those who use economics in the workplace.
The Econometric Society - An international society for the advancement of economic theory in its relation to statistics and mathematics.
Journal of Economic Perspectives - Publishes accessible, policy-relevant research articles in economics.

Similar careers

Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.