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Career and Education Opportunities for Economists in Milwaukee, Wisconsin

Many educational and employment opportunities exist for economists in the Milwaukee, Wisconsin area. About 270 people are currently employed as economists in Wisconsin. By 2016, this is expected to grow 8% to 290 people employed. This is better than the national trend for economists, which sees this job pool growing by about 5.8% over the next eight years. 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 $30 per hour or $64,420 per year on average in Wisconsin and about $40 per hour or $83,590 per year on average in the U.S. as a whole. Earnings for economists are better than earnings in the general category of Social Sciences in Wisconsin and better than general Social Sciences category earnings nationally. People working as economists can fill a number of jobs, such as: economic development specialist, business economist, and industrial economist.

There are five schools within twenty-five miles of Milwaukee where you can study to be an economist, among thirty-nine schools of higher education total in the Milwaukee area. Economists usually hold a Master's degree, so 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 Milwaukee 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.
  • 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

Concordia University-Wisconsin - Mequon, WI

Concordia University-Wisconsin, 12800 N Lake Shore Dr, Mequon, WI 53097-2402. Concordia University-Wisconsin is a medium sized university located in Mequon, Wisconsin. It is a private not-for-profit school with primarily 4-year or above programs. It has 6,549 students and an admission rate of 62%. Concordia University-Wisconsin has a bachelor's degree program in Economics.

Marquette University - Milwaukee, WI

Marquette University, 615 N 11th St, Milwaukee, WI 53233. Marquette University is a large university located in Milwaukee, Wisconsin. It is a private not-for-profit school with primarily 4-year or above programs. It has 11,633 students and an admission rate of 65%. Marquette University has 3 areas of study related to Economist. They are:

  • Economics, bachelor's degree which graduated 10 students in 2008.
  • Applied Economics, master's degree which graduated 15 students in 2008.
  • Business/Managerial Economics, bachelor's degree which graduated 7 students in 2008.

Wisconsin Lutheran College - Milwaukee, WI

Wisconsin Lutheran College, 8800 W Bluemound Rd, Milwaukee, WI 53226-4699. Wisconsin Lutheran College is a small college located in Milwaukee, Wisconsin. It is a private not-for-profit school with primarily 4-year or above programs. It has 753 students and an admission rate of 76%. Wisconsin Lutheran College has a bachelor's degree program in Business/Managerial Economics which graduated one student in 2008.

Carthage College - Kenosha, WI

Carthage College, 2001 Alford Park Dr, Kenosha, WI 53140-1994. Carthage College is a small college located in Kenosha, Wisconsin. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,990 students and an admission rate of 77%. Carthage College has 2 areas of study related to Economist. They are:

  • International Economics, bachelor's degree which graduated 1 student in 2008.
  • Economics, Other Specialties, bachelor's degree which graduated 5 students in 2008.

University of Wisconsin-Milwaukee - Milwaukee, WI

University of Wisconsin-Milwaukee, 2200 E Kenwood Blvd, Milwaukee, WI 53201-0413. University of Wisconsin-Milwaukee is a large university located in Milwaukee, Wisconsin. It is a public school with primarily 4-year or above programs. It has 28,995 students and an admission rate of 96%. University of Wisconsin-Milwaukee has bachelor's degree, master's degree, and doctor's degree programs in Economics which graduated nine, twenty-seven, and three 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: Milwaukee, Wisconsin

Milwaukee, Wisconsin
Milwaukee, Wisconsin photo by Towpilot

Milwaukee is located in Milwaukee County, Wisconsin. It has a population of over 604,477, which has grown by 1.3% over the last ten years. The cost of living index in Milwaukee, 87, is well below the national average. New single-family homes in Milwaukee cost $167,400 on average, which is far less than the state average. In 2008, ninety-six new homes were built in Milwaukee, down from one hundred sixty-seven the previous year.

The three most popular industries for women in Milwaukee are health care, educational services, and finance and insurance. For men, it is administrative and support and waste management services, construction, and accommodation and food services. The average travel time to work is about 23 minutes. More than 18.3% of Milwaukee residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 6.0%, is lower than the state average.

The unemployment rate in Milwaukee is 10.6%, which is greater than Wisconsin's average of 7.7%.

The percentage of Milwaukee residents that are affiliated with a religious congregation, 47.5%, is less than both the national and state average. Church of the Epiphany, Saint Mark African Methodist Episcopal Church and German Full Gospel Church are among the churches located in Milwaukee. The largest religious groups are the Catholic Church, the Lutheran Church and the Evangelical Lutheran Church in America.

Milwaukee is home to the Caroline Hall and the Wood as well as Cannon Park and Fifth Ward Playground. Shopping malls in the area include Juneau Village Shopping Center, Times Square Shopping Center and Grand Avenue Mall Shopping Center. Visitors to Milwaukee can choose from Edge-O-Town Motel, Manor House Hotel and Days Inn West Allis for temporary stays in the area.