Want to be an economist?
Published on: Monday, January 24, 2022
By: K Krishnan
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At the same time no new businesses are being started. Look around your town or neighbourhood. Local and Foreign investors are scared to invest in new industries. The future looks very gloomy after the Covid-19 epidemic. Such diseases will be attacking mankind from time to time. This is not only for Malaysia but it will be a common feature throughout the world.
The people who can better understand and help out at this moment are the economists. Often they are called Economic analysts, economic consultants, research associates, etc. Since they are the people who can stimulate the economy, let us learn about them.
Who are economists?
In general, they conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. They may collect and process economic and statistical data using sampling techniques and econometric methods. They are the people we need at a time like this.
What do economists do?
On the job, an economist would:
- Study economic and statistical data in area of specialisation, such as finance, labour, or agriculture.
- Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.
- Compile, analyse, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
They are the people who can promote new businesses or revive the economy. They can influence the policy makers, financial institutions and businesses. We need economists during bad and good times.
What Knowledge do you need?
Those who have an interest in being an economist, should have an interest in:
- Math and Science (arithmetic, algebra, geometry, calculus, or statistics)
- Business (accounting, economics)
- Arts and Humanities (English language)
- Engineering and Technology
(computers and electronics )
What Skills do you need?
Basic Skills such as:
- reading work related information
thinking about the pros and cons of different ways to solve a Problem Solving Skills: noticing a problem and figuring out the best way to solve it People and Technology Systems :
- thinking about the pros and cons of different options and picking the best one
- figuring out how a system should work and how changes in the future will affect it
What abilities do you need?
Verbal
- read and understand what is written
- communicate by speaking Math
- choose the right type of math to solve a problem
- add, subtract, multiply, or divide
- ideas and Logic
- make general rules or come up with answers from lots of detailed information
- use rules to solve problems
What Personality traits do you need?
People interested in this type of work like activities that include ideas, thinking, and figuring things out.
They do well at jobs that need:
- Analytical Thinking
- Achievement/Effort
- Persistence
- Initiative
- Integrity
- Independence
Education and Training
Economics is taught in some schools. Check with your school to find out if it is taught in your school. If you have the opportunity explore this subject. Students who have completed their SPM / STPM can pursue a course
(a) At Community Colleges
(b) At Polytechnics
(c) At Colleges
(d) If you have the necessary qualifications you can do a degree in the Public or Private Universities.
(e) Prospects are good for those who complete their Masters or Ph.D.
You can always do a certificate course and advance to do a diploma. If you are really interested you can do a degree, masters or Ph.D. You can also work and study part-time. There are many options available to you.
Q and A
If you have a question on Careers in Economics, write to: [email protected]
