Career and Education Opportunities for Economists in Grand Rapids, Michigan
If you want to be an economist, the Grand Rapids, Michigan area offers many opportunities both for education and employment. The national trend for economists sees this job pool growing by about 5.8% over the next eight years. 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.
A person working as an economist can expect to earn about $42 per hour or $88,230 yearly on average in Michigan and about $40 per hour or $83,590 per year on average in the U.S. as a whole. Incomes for economists are better than in the overall category of Social Sciences in Michigan, and better than the overall Social Sciences category nationally. Jobs in this field include: economic analyst, trade economist, and international trade specialist.
There are five schools within twenty-five miles of Grand Rapids where you can study to be an economist, among nineteen schools of higher education total in the Grand Rapids area. Given that the most common education level for economists is a Master's degree, it will take about six years to learn to be 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 Grand Rapids 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
Calvin College - Grand Rapids, MI
Calvin College, 3201 Burton SE, Grand Rapids, MI 49546. Calvin College is a small college located in Grand Rapids, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,171 students and an admission rate of 94%. Calvin College has 2 areas of study related to Economist. They are:
- Economics, bachelor's degree which graduated 3 students in 2008.
- Development Economics and International Development, bachelor's degree which graduated 2 students in 2008.
Aquinas College - Grand Rapids, MI
Aquinas College, 1607 Robinson Rd SE, Grand Rapids, MI 49506-1799. Aquinas College is a small college located in Grand Rapids, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,159 students and an admission rate of 82%. Aquinas College has a bachelor's degree program in Economics.
Hope College - Holland, MI
Hope College, 141 E 12th St, Holland, MI 49423. Hope College is a small college located in Holland, Michigan. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,238 students and an admission rate of 82%. Hope College has 2 areas of study related to Economist. They are:
- Economics, bachelor's degree which graduated 1 student in 2008.
- Business/Managerial Economics, bachelor's degree which graduated 6 students in 2008.
Grand Valley State University - Allendale, MI
Grand Valley State University, 1 Campus Dr, Allendale, MI 49401-9403. Grand Valley State University is a large university located in Allendale, Michigan. It is a public school with primarily 4-year or above programs. It has 23,932 students and an admission rate of 78%. Grand Valley State University has 2 areas of study related to Economist. They are:
- Economics, bachelor's degree which graduated 4 students in 2008.
- Business/Managerial Economics, bachelor's degree which graduated 16 students in 2008.
Grand Rapids Community College - Grand Rapids, MI
Grand Rapids Community College, 143 Bostwick Ave NE, Grand Rapids, MI 49503-3295. Grand Rapids Community College is a large college located in Grand Rapids, Michigan. It is a public school with primarily 2-year programs and has 15,403 students. Grand Rapids Community College has an associate's degree program in Economics which graduated two 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: Grand Rapids, Michigan
Grand Rapids is located in Kent County, Michigan. It has a population of over 193,396, which has shrunk by 2.2% over the last ten years. The cost of living index in Grand Rapids, 81, is well below the national average. New single-family homes in Grand Rapids cost $98,700 on average, which is far less than the state average. In 2008, forty-three new homes were built in Grand Rapids, down from ninety-two the previous year.
The three most popular industries for women in Grand Rapids are health care, educational services, and accommodation and food services. For men, it is construction, transportation equipment, and educational services. The average travel time to work is about 19 minutes. More than 23.8% of Grand Rapids residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 8.0%, is lower than the state average.
The unemployment rate in Grand Rapids is 15.4%, which is greater than Michigan's average of 14.3%.
The percentage of Grand Rapids residents that are affiliated with a religious congregation, 52.9%, is more than both the national and state average. Church of Jesus Christ, Immanuel Church and Trinity Church are among the churches located in Grand Rapids. The most prominent religious groups are the Catholic Church, the Christian Reformed Church in North America and the Reformed Church in America.
Grand Rapids is home to the Kent Country Club and the Walker Juvenile Court as well as Comstock Riverside Park and Richmond Park. Visitors to Grand Rapids can choose from Hampton Inn Grand Rapids, Hampton Inn Grand Rapids/North- Mi and Hampton Inn Fax for temporary stays in the area.