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Career and Education Opportunities for Economists in St. Paul, Minnesota

For those living in the St. Paul, Minnesota area, there are many career and education opportunities for economists. About 320 people are currently employed as economists in Minnesota. By 2016, this is expected to grow by 4% to about 330 people employed. This is not quite as good as the national trend for economists, which 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.

Income for economists is about $28 per hour or $59,180 per year on average in Minnesota. Nationally, their income is about $40 hourly or $83,590 yearly. Economists earn less than people working in the category of Social Sciences generally in Minnesota and more than people in the Social Sciences category nationally. Jobs in this field include: project economist, industrial economist, and economic adviser.

The St. Paul area is home to seventy-seven schools of higher education, including eight within twenty-five miles of St. Paul where you can get a degree as an economist. The most common level of education for economists is a Master's degree. You can expect to spend about six years studying to be an economist if you already have a high school diploma, or just 2 years if you have a Bachelor's degree.

CAREER DESCRIPTION: Economist

Economist video from the State of New Jersey Dept. of Labor and Workforce Development

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 St. Paul include:

  • Archaeologist. Conduct research to reconstruct record of past human life and culture from human remains, artifacts, and structures recovered through excavation, underwater recovery, or other means of discovery.
  • 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.
  • Urban Planner. Develop comprehensive plans and programs for use of land and physical facilities of local jurisdictions, such as towns, cities, and metropolitan areas.

EDUCATIONAL OPPORTUNITIES: Economist Training

Hamline University - Saint Paul, MN

Hamline University, 1536 Hewitt Avenue, Saint Paul, MN 55104-1284. Hamline University is a small university located in Saint Paul, Minnesota. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,906 students and an admission rate of 80%. Hamline University has a bachelor's degree program in Economics which graduated four students in 2008.

University of St Thomas - Saint Paul, MN

University of St Thomas, 2115 Summit Ave, Saint Paul, MN 55105-1078. University of St Thomas is a large university located in Saint Paul, Minnesota. It is a private not-for-profit school with primarily 4-year or above programs. It has 10,960 students and an admission rate of 81%. University of St Thomas has 3 areas of study related to Economist. They are:

  • Economics, bachelor's degree which graduated 10 students in 2008.
  • Econometrics and Quantitative Economics, bachelor's degree which graduated 1 student in 2008.
  • International Economics, bachelor's degree which graduated 6 students in 2008.

Metropolitan State University - Saint Paul, MN

Metropolitan State University, 700 E Seventh St, Saint Paul, MN 55106-5000. Metropolitan State University is a medium sized university located in Saint Paul, Minnesota. It is a public school with primarily 4-year or above programs. It has 6,909 students and an admission rate of 53%. Metropolitan State University has a bachelor's degree program in Economics which graduated thirteen students in 2008.

Bethel University - Saint Paul, MN

Bethel University, 3900 Bethel Dr, Saint Paul, MN 55112-6902. Bethel University is a small university located in Saint Paul, Minnesota. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,337 students and an admission rate of 81%. Bethel University has a bachelor's degree program in Economics.

Macalester College - Saint Paul, MN

Macalester College, 1600 Grand Ave, Saint Paul, MN 55105-1899. Macalester College is a small college located in Saint Paul, Minnesota. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,900 students and an admission rate of 41%. Macalester College has a bachelor's degree program in Economics which graduated seven students in 2008.

University of Minnesota-Twin Cities - Minneapolis, MN

University of Minnesota-Twin Cities, 100 Church Street SE, Minneapolis, MN 55455-0213. University of Minnesota-Twin Cities is a large university located in Minneapolis, Minnesota. It is a public school with primarily 4-year or above programs. It has 51,140 students and an admission rate of 53%. University of Minnesota-Twin Cities has 4 areas of study related to Economist. They are:

  • Agricultural Economics, master's degree and doctor's degree which graduated two and six students respectively in 2008.
  • Economics, bachelor's degree, master's degree, and doctor's degree which graduated five, twenty, and sixteen students respectively in 2008.
  • Applied Economics, bachelor's degree, master's degree, and doctor's degree which graduated fifty-five, seven, and one students respectively in 2008.
  • Econometrics and Quantitative Economics, bachelor's degree which graduated 9 students in 2008.

Augsburg College - Minneapolis, MN

Augsburg College, 2211 Riverside Ave, Minneapolis, MN 55454. Augsburg College is a small college located in Minneapolis, Minnesota. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,827 students and an admission rate of 56%. Augsburg College has 2 areas of study related to Economist. They are:

  • Economics, bachelor's degree which graduated 5 students in 2008.
  • Economics, Other Specialties, bachelor's degree.

College of St Catherine - Saint Paul, MN

College of St Catherine, 2004 Randolph Ave, Saint Paul, MN 55105. College of St Catherine is a medium sized college located in Saint Paul, Minnesota. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,201 students and an admission rate of 77%. College of St Catherine has 2 areas of study related to Economist. They are:

  • Applied Economics, bachelor's degree and postbaccalaureate certificate which graduated two and one students respectively in 2008.
  • International Economics, bachelor's degree which graduated 4 students in 2008.

CERTIFICATIONS

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: St. Paul, Minnesota

St. Paul, Minnesota
St. Paul, Minnesota photo by Gridge

St. Paul is located in Ramsey County, Minnesota. It has a population of over 279,590, which has shrunk by 2.6% in the past ten years. The cost of living index in St. Paul, 99, is near the national average. New single-family homes in St. Paul are valued at $213,300 on average, which is well below the state average. In 2008, thirty new homes were built in St. Paul, down from seventy-four the previous year.

The three most popular industries for women in St. Paul are educational services, health care, and finance and insurance. For men, it is educational services, professional, scientific, and technical services, and construction. The average commute to work is about 21 minutes. More than 32.0% of St. Paul residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 12.0%, is higher than the state average.

The unemployment rate in St. Paul is 7.4%, which is greater than Minnesota's average of 7.0%.

The percentage of St. Paul residents that are affiliated with a religious congregation, 61.3%, is more than both the national and state average. Zion Church, Convent of the Visitation and Saint Paul Cathedral are some of the churches located in St. Paul. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the Baptist General Conference.

St. Paul is home to the Saint Paul Orphange and the Wilder Center as well as Terrace Park and East View Playground.