Career and Education Opportunities for Economists in Little Rock, Arkansas
Little Rock, Arkansas provides a wide variety of opportunities, both career and educational, for economists. There are currently 220 jobs for economists in Arkansas and this is projected to grow by 28% to about 280 jobs by 2016. This is better than the nation as a whole, where employment opportunities for economists are expected to grow by about 5.8%. Economists generally conduct research, prepare reports, or formulate plans to aid in solution of economic problems arising from production and distribution of goods and services.
The income of an economist is about $19 hourly or $39,740 per year on average in Arkansas. In the U.S. as a whole, their income is about $40 hourly or $83,590 annually on average. Earnings for economists are not quite as good as earnings in the general category of Social Sciences in Arkansas and better than general Social Sciences category earnings nationally. Jobs in this field include: economic adviser, social economist, and econometrician.
There are three schools within twenty-five miles of Little Rock where you can study to be an economist, among twenty-five schools of higher education total in the Little Rock area. Economists usually hold a Master's degree, so you can expect to spend about six years training to become an economist if you already have a high school diploma, or just 2 years starting with a Bachelor's degree.
CAREER DESCRIPTION: Economist
In general, economists conduct research, prepare reports, or formulate plans to aid in solution of economic problems arising from production and distribution of goods and services. They also may collect and process economic and statistical data using econometric and sampling techniques.
Economists study economic and statistical data in an area of specialization, such as finance or agriculture. They also compile and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques. Finally, economists furnish advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
Every day, economists are expected to be able to write clearly and communicate well. They need to articulate ideas and problems. It is also important that they listen to and understand others in meetings.
It is important for economists to formulate recommendations or plans to solve economic problems or to interpret markets. They are often called upon to design economic guidelines and standards and ready points of view used in forecasting trends and formulating economic policy. Somewhat less frequently, economists are also expected to supervise research projects and students' study projects.
Economists sometimes are asked to testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy and present recommendations on the basis of cost-benefit analyses. and forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources. And finally, they sometimes have to testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy and present recommendations on the basis of cost-benefit analyses.
Like many other jobs, economists must be able to absorb the factors involved and a problem and provide a well thought out solution and be thorough and dependable.
Similar jobs with educational opportunities in Little Rock include:
- Geographic Information Systems Analyst. Study nature and use of areas of earth's surface, relating and interpreting interactions of physical and cultural phenomena. Conduct research on physical aspects of a region, including land forms, climates, soils, plants and animals, and conduct research on the spatial implications of human activities within a given area, including social characteristics, economic activities, and political organization, as well as researching interdependence between regions at scales ranging from local to global.
- Historian. Research, analyze, and interpret the past as recorded in sources, such as government and institutional records, newspapers and other periodicals, photographs, and unpublished manuscripts, such as personal diaries and letters.
- Industrial Psychologist. Apply principles of psychology to personnel, administration, and marketing problems. Activities may include policy planning; employee screening, training and development; and organizational development and analysis. May work with management to reorganize the work setting to improve worker productivity.
- Market Research Analyst. Research market conditions in local, regional, or national areas to determine potential sales of a product or service. May gather information on competitors, prices, and methods of marketing and distribution. May use survey results to create a marketing campaign based on regional preferences and buying habits.
- Market Survey Representative. Design or conduct surveys. May supervise interviewers who conduct the survey in person or over the telephone. May present survey results to client.
- School Psychologist. Investigate processes of learning and teaching and develop psychological principles and techniques applicable to educational problems.
EDUCATIONAL OPPORTUNITIES: Economist Training
University of Central Arkansas - Conway, AR
University of Central Arkansas, 201 Donaghey Ave, Conway, AR 72035-0001. University of Central Arkansas is a large university located in Conway, Arkansas. It is a public school with primarily 4-year or above programs. It has 12,961 students and an admission rate of 49%. University of Central Arkansas has a bachelor's degree program in Economics which graduated one student in 2008.
Hendrix College - Conway, AR
Hendrix College, 1600 Washington Ave, Conway, AR 72032-3080. Hendrix College is a small college located in Conway, Arkansas. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,350 students and an admission rate of 94%. Hendrix College has a bachelor's degree program in Economics which graduated one student in 2008.
University of Arkansas at Little Rock - Little Rock, AR
University of Arkansas at Little Rock, 2801 S University Ave, Little Rock, AR 72204. University of Arkansas at Little Rock is a large university located in Little Rock, Arkansas. It is a public school with primarily 4-year or above programs and has 11,694 students. University of Arkansas at Little Rock has a bachelor's degree program in Business/Managerial Economics which graduated four students in 2008.
Planning and Scheduling Professional: The PSP certification is to recognize specialists who meet a demanding set of planning and scheduling criteria by a rigorous examination, experience, education and ethical qualificaion.
For more information, see the AACE International (Association for the Advancement of Cost Engineering through total cost management) website.
Certified Economic Developer: Economic development organizations need professionals who possess the expertise to combat new challenges that emerge in a constantly changing industry.
For more information, see the International Economic Development Council website.
Economic Development Finance Professional: In NDC's EDFP Certification Program you will build the capacity to translate development opportunities into results for their communities.
For more information, see the The National Development Council website.
LOCATION INFORMATION: Little Rock, Arkansas
Little Rock is located in Pulaski County, Arkansas. It has a population of over 189,515, which has grown by 3.5% in the past ten years. The cost of living index in Little Rock, 87, is well below the national average. New single-family homes in Little Rock cost $236,400 on average, which is far greater than the state average. In 2008, three hundred sixty-one new homes were built in Little Rock, down from seven hundred thirty-one the previous year.
The top three industries for women in Little Rock are health care, educational services, and public administration. For men, it is health care, professional, scientific, and technical services, and construction. The average commute to work is about 20 minutes. More than 35.5% of Little Rock residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 13.4%, is higher than the state average.
The unemployment rate in Little Rock is 6.1%, which is less than Arkansas's average of 6.9%.
The percentage of Little Rock residents that are affiliated with a religious congregation, 59.1%, is more than both the national and state average. Macedonia Spiritual Church, Baseline Christian Church and Baseline Missionary Baptist Church are all churches located in Little Rock. The largest religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.
Little Rock is home to the Rock Creek Golf Course and the Barton Coliseum as well as McArthur Park Historic District and Meriwether Park. Shopping malls in the area include Mainstreet Market Shopping Center, Market Street Plaza Shopping Center and Markham Plaza Shopping Center. Visitors to Little Rock can choose from LA Quinta - Inns- Medical Center Area, Hampton Inn & Suites and Acme Motel for temporary stays in the area.