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Career and Education Opportunities for Economists in McKinney, Texas

Economists can find both educational opportunities and jobs in the McKinney, Texas area. There are currently 620 working economists in Texas; this should grow 16% to 720 working economists in the state by 2016. This is better than 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.

Economists earn about $33 hourly or $69,180 yearly on average in Texas and about $40 hourly or $83,590 yearly on average nationally. Compared with people working in the overall category of Social Sciences, people working as economists in Texas earn more. They earn more than people working in the overall category of Social Sciences nationally. People working as economists can fill a number of jobs, such as: international trade specialist, revenue research analyst, and econometrician.

The McKinney area is home to fifteen schools of higher education, including two within twenty-five miles of McKinney 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 training to become 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 McKinney 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 Dallas - Irving, TX

University of Dallas, 1845 E Northgate Drive, Irving, TX 75062-4736. University of Dallas is a small university located in Irving, Texas. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,977 students and an admission rate of 91%. University of Dallas has 2 areas of study related to Economist. They are:

  • Economics, bachelor's degree which graduated 1 student in 2008.
  • Economics, Other Specialties, bachelor's degree which graduated 6 students in 2008.

The University of Texas at Dallas - Richardson, TX

The University of Texas at Dallas, 800 West Campbell Road, Richardson, TX 75080-3021. The University of Texas at Dallas is a large university located in Richardson, Texas. It is a public school with primarily 4-year or above programs. It has 14,940 students and an admission rate of 54%. The University of Texas at Dallas has bachelor's degree, master's degree, and doctor's degree programs in Economics which graduated sixty-three, sixteen, and one students respectively 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: McKinney, Texas

McKinney, Texas
McKinney, Texas photo by Agriffin

Mckinney is situated in Collin County, Texas. It has a population of over 121,211, which has grown by 122.9% in the past ten years. The cost of living index in Mckinney, 90, is below the national average. New single-family homes in Mckinney are valued at $168,500 on average, which is below the state average. In 2008, nine hundred eighty-seven new homes were built in Mckinney, down from 1,662 the previous year.

The top three industries for women in Mckinney are health care, educational services, and professional, scientific, and technical services. For men, it is construction, computer and electronic products, and professional, scientific, and technical services. The average commute to work is about 27 minutes. More than 39.1% of Mckinney residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 10.3%, is higher than the state average.

The unemployment rate in Mckinney is 7.8%, which is less than Texas's average of 8.1%.

The percentage of Mckinney residents that are affiliated with a religious congregation, 53.7%, is more than the national average but less than the state average. Redeemer Presbyterian Church, Eternity Community Church and Church of Christ are some of the churches located in Mckinney. The most common religious groups are the Catholic Church, the Southern Baptist Convention and the United Methodist Church.

Mckinney is home to the Estes House and the A M Scott House as well as Mouzon Park and Murphy Park.