Economics Professors: Know It All In 1 Minute
In this career summary, you will find out what the job of An Economics Professor is about and what it is like.
After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.
Postsecondary Economics Teachers teach courses in economics. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.
- Prepare and deliver lectures to undergraduate or graduate students on topics such as econometrics, price theory, and macroeconomics.
- Evaluate and grade students’ class work, assignments, and papers.
- Prepare course materials such as syllabi, homework assignments, and handouts.
- Compile, administer, and grade examinations, or assign this work to others.
$106980 per year
Economics Professors with little to no experience tend to make between $45220 and $65170 while the more experienced ones make over $130180 per year.
|Top 5 paying states||Hourly||Annual|
1 of the easiest ways to increase your salary as An Economics Professor is to move to a higher paying state like MA. Right now, the highest paying states for Economics Professors are MA, MI, NH, NJ and IL.
However a higher pay at MA doesn’t guarantee that you will make more because the living expenses at MA might be 2x higher than where you are currently at now.
3 other factors that can increase your salary as An Economics Professor is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).
Recommended degree level
We asked other Economics Professors what degree they had when they got the job and most of them said they had a PhD followed by Master’s degree.
Other than that we also asked them what did they major in and here are the most popular majors that came up.
Another popular question from our readers is what makes An Economics Professor successful or would they be good in this career.
Well, we found that most successful Economics Professors have these 5 skillsets.
In addition to that, 1 common characteristic among successful Economics Professors is they are good at Analytical Thinking. Here are the top 5 common characteristics.
|Analytical Thinking |
= Hot in-demand that most employers are looking for
Pros and Cons
Here are some reasons why you should and shouldn’t choose An Economics Professor as your career.
|Suitable for people who likes to help and teach others|
|Suitable for people who values achievements and are resultsoriented|
|This career is perfect for people who love to work indoors.|
|One of the highest paid careers in the world|
|Not suitable for people who likes practical and handson work|
|It is very hard to get into this career. Extensive skill, knowledge, and experience is required for this career.|
|Long working hours (More than 40 hours per week)|
There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.
A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.
What is the job like
Is this job meaningful
More than 40 hours per week
Regular (Set schedule and routine)
On a normal working week Postsecondary Economics Teachers work More than 40 hours per week.
83% of Economics Professors said they were satisfied with their job and 83% said they feel like their job is making other people’s lives better.
Is this right for me
Best personality for this career
The Helpers and The Thinkers
You can read more about these career personality types here.
People who are suitable for this job tends to like working with, communicating with, and teaching people. They like helping or providing service to others.
They also like working with ideas, and require an extensive amount of thinking. They like searching for facts and figuring out problems mentally.
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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. May collect and process economic and statistical data using sampling techniques and econometric methods.
They teach courses pertaining to mathematical concepts, statistics, and actuarial science and to the application of original and standardized mathematical techniques in solving specific problems and situations. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.
They teach courses in sociology. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.
They teach courses in business administration and management, such as accounting, finance, human resources, labor and industrial relations, marketing, and operations research. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.
They teach courses in political science, international affairs, and international relations. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.
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Career type Education
Science and Math
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