What do economists do?
This is a serious question I’m asking you this morning. I visited some people this morning and when they asked me what I do for my living, I responded,
“I’m an economist,” I responded.
This got them more confused than before. So i decided to write a blog article about the work economists do.
Economists work all types of fields. Those who have earned degrees, work as professors at various colleges or universities.
Economists work as consultants, some work in government, businesses that need economic analyses, some work for financial firms while others work for large companies.
Economists study the allocation of scarce resources, they collect and analyze data, research trends in the business life and evaluate economic issues.
How do I become an economist?
In order to become an economist, you need to earn a Master’s or doctorate degree in economics.
However, some entry-level jobs require undergraduate degree in Economics.
According to the Bureau of Labor Statistics, the median pay for 2018 was $104,340 or $50 per hour in 2018.
Economists in Kenya
Kenya has a number of economists who work for government, NGOs, Consulting firms and banks among other entities.
For instance, Dr. Patrick Njoroge is an Economist and current governor of Central Bank of Kenya. He works with many other economists at Central Bank of Kenya (CBK) such as Gerald Anyona (Director of Bank Supervision) among others.
The Kenya national Treasury is headed by an economist by the name Cabinet Secretary (CS) Henry Rotich. He is an economist but most people including myself have questioned his huge appetite for debts.
Economists as public intellectuals
There are a number of economists who work as public intellectuals. These are people who help the masses to better understand economic and social relationships. Let’s take for instance, Dr. David Ndii, a prominent economist and public intellectual.
David Ndii was a co-founder of Institute of Economic Affairs. He is also an author of the East African Review where prominent figures write well research analyses and commentaries. Columnists listed on the site include: David Ndii, John Githongo, Kwamchetsi Makokha, Muthoni Wanyeki, Nic Cheeseman and Rasna Warah.
More on this topic later on.