Economist
Advise on business decisions, public policy, and academic research using an advanced knowledge of economics.
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Jobs in Jobstreet right now
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Typical monthly salary
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In the last year
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What's it like to be an Economist?
Economists are able to manage and translate large amounts of data into helpful information for private and public companies, government institutions, and the academic sector. Expert opinions and research findings from Economists are highly valuable to all industries, which makes an Economist’s career flexible. Those who study to become Economists can go on to become Data Analysts or Financial Managers in the private sector or Economists for the government or an academic institution. Economists must be detail-oriented, data focused, and highly strategic to succeed in their field.
Tasks and duties
- Researching and analysing economic conditions and market trends.
- Collecting and studying large amounts of relevant data in the social science field.
- Interpreting research and data and recommending actions and policies as a response to findings.
- Forecasting financial outcomes based on economic and social science data.
- Staying updated on tax laws and economic policies.
- Providing expert advice on business strategies.
- Writing reports and articles on market trends.
- Creating mitigation strategies in the economic or financial aspects of a company’s plans.
An average day for an Economist would entail studying, researching, and analysing the latest market movements, keeping up to date with tax laws and economic policies, and using their expertise to advise their place of employment.
How to become an Economist
An Economist’s career can be defined by their level of educational attainment. Some Economists possess a PhD in the field, but Economists with a bachelor degree can still work in the industry and become Financial Analysts in the private sector.
- Attain the Sijil Pelajaran Malaysia (SPM), with a minimum of three credits and at least a pass in Mathematics and English. This is the minimum requirement to pursue a career in economics, but universities may have more requirements. Check the institution of your choosing to know their grade requirements.
- Enrol in a pre-university programme or Foundation (Arts of Business) programme, or pursue a Diploma in Economics. These are the two tracks to getting a Degree in Economics.
- Pursue a degree in economics at any university that offers economics degrees in Malaysia. A degree usually takes three years to complete. The minimum requirement to pursue a degree is generally at least a CGPA of 2.00 (if you took the Foundation or Diploma route) or an A-Level grade of DD or STPM grade of CC (if you took the pre-university program route).
- Intern at a reputable company to gain workplace experience. This will help you learn the practical uses of an economics degree so you will be prepared after graduation.
- Pursue a masters degree in economics. In the field of economics, higher educational attainment can lead to more opportunities.
- Gain work experience. Be employed for at least two to four years at a company. This can be done while studying for a masters degree or after completing the degree.
- Consider pursuing a Ph.D. in economics. A doctorate degree is ideal for Economists in the academic or government sector.
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