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Economics Professor

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What Do Economics Professor Do?

Occupation Description Teach courses in economics. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.

What Do Economics Professors Do On a Daily Basis?

  • Supervise undergraduate or graduate teaching, internship, and research work.
  • Prepare and deliver lectures to undergraduate or graduate students on topics such as econometrics, price theory, and macroeconomics.
  • Maintain regularly scheduled office hours to advise and assist students.
  • Act as advisers to student organizations.
  • Compile bibliographies of specialized materials for outside reading assignments.
  • Select and obtain materials and supplies, such as textbooks.

What Skills Do You Need to Work as an Economics Professor?

These are the skills Economics Professors say are the most useful in their careers:

Speaking: Talking to others to convey information effectively.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Writing: Communicating effectively in writing as appropriate for the needs of the audience.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Instructing: Teaching others how to do something.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

  • Economics Lecturer
  • Instructor
  • Industrial Economics Teacher
  • Macroeconomics Professor
  • Microeconomics Professor

Job Outlook for Economics Professors

There were about 16,500 jobs for Economics Professor in 2016 (in the United States). New jobs are being produced at a rate of 10.9% which is above the national average. The Bureau of Labor Statistics predicts 1,800 new jobs for Economics Professor by 2026. Due to new job openings and attrition, there will be an average of 1,500 job openings in this field each year.

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The states with the most job growth for Economics Professor are Oregon, Colorado, and California. Watch out if you plan on working in Wyoming, Vermont, or New Hampshire. These states have the worst job growth for this type of profession.

Economics Professor Average Salary

Economics Professors make between $51,070 and $202,460 a year.

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Economics Professors who work in New Hampshire, Rhode Island, or California, make the highest salaries.

Below is a list of the median annual salaries for Economics Professors in different U.S. states.

State Annual Mean Salary
Alabama $114,020
Arkansas $94,750
California $139,050
Colorado $104,530
Connecticut $98,870
District of Columbia $110,350
Florida $116,920
Georgia $101,590
Hawaii $87,520
Idaho $83,550
Illinois $128,340
Indiana $126,230
Iowa $133,600
Kansas $114,000
Kentucky $85,500
Louisiana $101,670
Maine $99,630
Maryland $119,300
Massachusetts $125,120
Michigan $111,530
Minnesota $110,060
Mississippi $96,740
Missouri $108,240
Nebraska $99,920
Nevada $79,310
New Hampshire $161,830
New Jersey $117,220
New York $129,370
North Carolina $106,080
North Dakota $93,610
Ohio $109,960
Oregon $110,860
Pennsylvania $131,060
Rhode Island $156,620
South Carolina $70,190
South Dakota $86,280
Tennessee $130,170
Texas $115,240
Utah $117,380
Virginia $101,290
Washington $89,490
West Virginia $90,800
Wisconsin $119,560

Tools & Technologies Used by Economics Professors

Below is a list of the types of tools and technologies that Economics Professors may use on a daily basis:

  • Microsoft Excel
  • Microsoft Word
  • Microsoft Office
  • Microsoft PowerPoint
  • Microsoft Outlook
  • Web browser software
  • Microsoft Access
  • Data entry software
  • Email software
  • The MathWorks MATLAB
  • Google Docs
  • R
  • Minitab
  • StataCorp Stata
  • Calendar and scheduling software
  • Blackboard Learn
  • Learning management system LMS
  • Course management system software
  • Sakai CLE
  • iParadigms Turnitin

How do I Become an Economics Professor?

Are there Economics Professors education requirements?

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How many years of work experience do I need?

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Who Employs Economics Professors?

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Economics Professors work in the following industries:

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References:

Image Credit: pixabay via CC0 License

More about our data sources and methodologies.

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