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Career and Education Opportunities for Economists in Durham, North Carolina

Many educational and employment opportunities exist for economists in the Durham, North Carolina area. There are currently 340 working economists in North Carolina; this should grow by 15% to about 390 working economists in the state by 2016. This is better than the nation as a whole, where employment opportunities for economists are expected to grow by about 5.8%. 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.

A person working as an economist can expect to earn about $34 hourly or $72,520 yearly on average in North Carolina and about $40 hourly or $83,590 per year on average in the U.S. as a whole. Economists earn more than people working in the category of Social Sciences generally in North Carolina and more than people in the Social Sciences category nationally. People working as economists can fill a number of jobs, such as: tax economist, forensic economist, and economic consultant.

There are twenty-six schools of higher education in the Durham area, including four within twenty-five miles of Durham where you can get a degree to start your career 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 Durham 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

University of North Carolina at Chapel Hill - Chapel Hill, NC

University of North Carolina at Chapel Hill, 103 South Bldg Cb 9100, Chapel Hill, NC 27599. University of North Carolina at Chapel Hill is a large university located in Chapel Hill, North Carolina. It is a public school with primarily 4-year or above programs. It has 28,567 students and an admission rate of 35%. University of North Carolina at Chapel Hill has bachelor's degree, master's degree, and doctor's degree programs in Economics which graduated seventy-eight, eight, and seventeen students respectively in 2008.

North Carolina State University at Raleigh - Raleigh, NC

North Carolina State University at Raleigh, 2101 Hillsborough Street, Raleigh, NC 27695-7001. North Carolina State University at Raleigh is a large university located in Raleigh, North Carolina. It is a public school with primarily 4-year or above programs. It has 32,871 students and an admission rate of 60%. North Carolina State University at Raleigh has 3 areas of study related to Economist. They are:

  • Agricultural Economics, master's degree.
  • Economics, master's degree and doctor's degree which graduated thirty-eight and six students respectively in 2008.
  • Business/Managerial Economics, bachelor's degree which graduated 7 students in 2008.

Duke University - Durham, NC

Duke University, 103 Allen Bldg, Durham, NC 27708. Duke University is a large university located in Durham, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 13,871 students and an admission rate of 23%. Duke University has bachelor's degree, master's degree, and doctor's degree programs in Economics which graduated forty-five, fifty-two, and eleven students respectively in 2008.

Meredith College - Raleigh, NC

Meredith College, 3800 Hillsborough St, Raleigh, NC 27607-5298. Meredith College is a small college located in Raleigh, North Carolina. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,250 students and an admission rate of 69%. Meredith 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 1 student 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: Durham, North Carolina

Durham, North Carolina
Durham, North Carolina photo by Specious

Durham is situated in Durham County, North Carolina. It has a population of over 223,284, which has grown by 19.4% over the last ten years. The cost of living index in Durham, 86, is well below the national average. New single-family homes in Durham are valued at $187,200 on average, which is well above the state average. In 2008, 1,082 new homes were built in Durham, down from 1,574 the previous year.

The three most popular industries for women in Durham are health care, educational services, and professional, scientific, and technical services. For men, it is construction, educational services, and health care. The average commute to work is about 21 minutes. More than 41.8% of Durham residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 18.3%, is higher than the state average.

The unemployment rate in Durham is 7.3%, which is less than North Carolina's average of 10.6%.

The percentage of Durham residents that are affiliated with a religious congregation, 39.3%, is less than both the national and state average. Laymans Church, Holy Infant Church and Homestead Heights Church are among the churches located in Durham. The most prominent religious groups are the Southern Baptist Convention, the United Methodist Church and the Catholic Church.

Durham is home to the Hope Valley Country Club and the Union Building as well as Durham County Stadium and Northgate Park. Shopping centers in the area include South Square Mall, Lakewood Shopping Center and Kings Plaza Shopping Center. Visitors to Durham can choose from Brownestone Inn, Durham-Days Inn ) and Hilton Durham for temporary stays in the area.