Economist

Economists advise government departments, businesses, banks and other organisations about the economy.

Average salary (a year)

£25,000 Starter

to

£80,000 Experienced

Typical hours (a week)

37 to 39 a week

You could work

between 8am and 6pm

How to become an Economist

You can get into this job through:

  • a university course
  • working towards this role
  • a graduate training scheme

University

You'll need a degree in economics or a related subject, like:

  • statistics
  • mathematics
  • business studies
  • finance and accounting

Some employers may prefer you to have a postgraduate master's degree in economics.

Your university course should include both macro and microeconomics.

Entry requirements

You'll usually need:

  • 5 GCSEs at grades 9 to 4 (A* to C)
  • 2 or more A levels, including maths or economics

More information

Work

You could start as an economic research officer or analyst in the private sector and work your way up.

Other routes

You could apply for a place on the Government Economic Service Fast Stream programme, starting out as an assistant economist.

You'll need a degree in economics or a combined degree, with at least 50% economics. You'll also need a grade 2:1 or higher to apply. A postgraduate degree in economics may be acceptable.

More information

Professional and industry bodies

You can find professional development training and networking opportunities with organisations like the Royal Economic Society and the Society of Professional Economists.

Further information

You'll find more advice about working as an economist in the public sector through the Government Economic Service.

What it takes

Skills and knowledge

You'll need:

  • maths knowledge
  • knowledge of economics and accounting
  • analytical thinking skills
  • excellent verbal communication skills
  • to be thorough and pay attention to detail
  • ambition and a desire to succeed
  • excellent written communication skills
  • the ability to think clearly using logic and reasoning
  • Being able to use a computer terminal or hand-held device may be beneficial for this job.

What you'll do

Day-to-day tasks

Your work will vary depending on whether you’re advising the government or business sector, but your day-to-day duties might include:

  • researching information from computer databases, websites, journals and newspapers
  • monitoring past and present economic issues and trends
  • creating mathematical models to predict future economic developments
  • analysing statistics
  • writing reports and presenting findings
  • examining the effectiveness of current policies
  • advising on the potential economic impact of policies and ideas

Working environment

You could work in an office or at a university.

Career path and progression

With experience, you could progress to senior levels or become a self-employed freelance consultant.

Training opportunities

Apprenticeships In England

Government Economic Service Degree Apprenticeship

  • Wage : £20,000.00 Annually
  • Location: SW1A 2HQ

Courses In England

Pearson EDEXCEL Level 3 Advanced GCE in Business Studies

  • Provider: Christ The King College
  • Start date: 03 September 2019
  • Location: Newport

GCE AS Level in Business Studies

  • Provider: Congleton High School
  • Start date: 01 September 2019
  • Location: Congleton

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