As the name suggests, economists study the economy, but more specifically, they analyze the distribution of society's resources in order to manufacture goods and provide services. Economists look at data, trends, and research surrounding issues such as inflation, interest rates, business cycles, and employment rates in order to make predictions about the future of the economy at the community, city, state, national, or international level.

Economics schools can provide a sound education in macroeconomics, which includes the basic ideas of economics at any level in any part of the world. Students may also specialize in a particular part of the economy, which is called microeconomics. Microeconomics is the study of specific regions, industries, or individual firms and companies. At economics schools, microeconomics and macroeconomics are the two major categories under which all other areas of economics fall, including industrial economics, international economics, public finance economics, and labor economics.

Although The Wall Street Journal gives a lesson in economics daily, those who seek a serious career as an economist should start off as an economics or business major at economics schools. Most business or research firms that hire economists on a full-time or consultant basis are looking for someone with at least a bachelor's degree, but firms on the national and federal levels often prefer new hires to have a master's degree or a doctorate in economics. Economics schools include many liberal arts colleges and universities.

Economic Careers Beyond the Numbers
Economists must not only understand the forecasts and theories they research and propose, but they must also know how best to relay this information to others who have a limited education in economics. Among the best and most in-demand economists are those who can break down numbers, percentages, and graphs into language that is easily digestible by mass audiences. For example, a journalist who writes a column about the economy might have studied economics extensively, but he or she has the ability to break down information about supply and demand or the GNP in a way that the newspaper's readership can understand.

In addition to opportunities in journalism, industries that often hire economics professionals include health, education, urban development, law, and the environment. Local, state, and federal governments are also major sources of employment for economists; in fact, according to the Bureau of Labor Statistics, government hiring accounted for a little more than half of all the economist jobs in 2006. Economics schools can also prepare you for a career in research or teaching. College professors often have a background in both consulting and research and have been known to publish extensively during their tenure. Many high schools include economics in their curricula, which opens up even more opportunities in the field of economics education.

According to the Bureau of Labor Statistics, economics made a median salary of about $77,000 in 2006. Those economists in the 90th percentile earned over $136,000, making economics a lucrative career for those who are most knowledgeable in the field.