In the Federal Government, candidates for entry-level economist positions must have a bachelor's degree with a minimum of 21 semester hours of economics and 3 hours of statistics, accounting, or calculus.

Whether working in government, industry, research organizations, or consulting firms, economists with a bachelor's degree usually qualify for most entry-level positions as a research assistant, for administrative or management trainee positions, or for various sales jobs. A master's degree usually is required to qualify for more responsible research and administrative positions. Many businesses, research and consulting firms, and government agencies seek individuals who have strong computer and quantitative skills and can perform complex research. A Ph.D. is necessary for top economist positions in many organizations. Many corporation and government executives have a strong background in economics.

A master's degree is usually the minimum requirement for a job as an instructor in junior and community colleges. In most colleges and universities, however, a Ph.D. is necessary for appointment as an instructor. A Ph.D. and extensive publications in academic journals are required for a professorship, tenure, and promotion.

Aspiring economists should gain experience gathering and analyzing data, conducting interviews or surveys, and writing reports on their findings while in college. This experience can prove invaluable later in obtaining a full-time position in the field, because much of the economist's work, especially in the beginning, may center on these duties. With experience, economists eventually are assigned their own research projects. Related job experience, such as work as a stock or bond trader, might be advantageous.

Those considering careers as economists should be able to pay attention to details because much time is spent on precise data analysis. Patience and persistence are necessary qualities because economists must spend long hours on independent study and problem solving. Economists must be able to present their findings, both orally and in writing, in a clear, concise manner.