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Economics Professors

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What Do Economics Professors Do?

Job Description: Teach courses in economics. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.

Life as an Economics Professor: What Do They Do?

  • Participate in campus and community events.
  • Select and obtain materials and supplies, such as textbooks.
  • Write grant proposals to procure external research funding.
  • Serve on academic or administrative committees that deal with institutional policies, departmental matters, and academic issues.
  • Supervise undergraduate or graduate teaching, internship, and research work.
  • Participate in student recruitment, registration, and placement activities.

Skills Needed to be an Economics Professor

Below is a list of the skills most Economics Professors say are important on the job.

Speaking: Talking to others to convey information effectively.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Writing: Communicating effectively in writing as appropriate for the needs of the audience.

Instructing: Teaching others how to do something.

Types of Economics Professor Jobs

  • Business Administration Program Chair
  • College or University Faculty Member
  • Assistant Professor
  • Industrial Economics Professor
  • Associate Professor

Job Outlook for Economics Professors

In 2016, there was an estimated number of 16,500 jobs in the United States for Economics Professors.

New jobs are being produced at a rate of 10.6% which is lower than average. The Bureau of Labor Statistics predicts 1,800 new jobs for Economics Professors by 2026. The BLS estimates 1,500 yearly job openings in this field per year.

Forecasted Number of Jobs for Economics Professors in U.S.

The states with the most job growth for Economics Professors are New York, California, and Texas.

Watch out if you plan on working in Wyoming, Vermont, or New Hampshire. These states have the worst job growth for this type of profession.

Do Economics Professors Make A Lot Of Money?

The typical yearly salary for Economics Professors is somewhere between $51,070 and $202,460. The median salary is $101,480.

Salary Ranges for Economics Professors

Below is a list of the median annual salaries for jobs of this type in different U.S. states.

Annual Mean Salary by State
State Annual Mean Salary

New Hampshire

$161,830

Rhode Island

$156,620

California

$139,050

Iowa

$133,600

Pennsylvania

$131,060

Tennessee

$130,170

New York

$129,370

Illinois

$128,340

Indiana

$126,230

Massachusetts

$125,120

Wisconsin

$119,560

Maryland

$119,300

Utah

$117,380

New Jersey

$117,220

Florida

$116,920

Texas

$115,240

Alabama

$114,020

Kansas

$114,000

Michigan

$111,530

Oregon

$110,860

District of Columbia

$110,350

Minnesota

$110,060

Ohio

$109,960

Missouri

$108,240

North Carolina

$106,080

Colorado

$104,530

Louisiana

$101,670

Georgia

$101,590

Virginia

$101,290

Nebraska

$99,920

Maine

$99,630

Connecticut

$98,870

Mississippi

$96,740

Arkansas

$94,750

North Dakota

$93,610

West Virginia

$90,800

Washington

$89,490

Hawaii

$87,520

South Dakota

$86,280

Kentucky

$85,500

Idaho

$83,550

Nevada

$79,310

South Carolina

$70,190

What Tools do Economics Professors Use?

Below is a list of the types of tools and technologies that Economics Professors may use on a daily basis:

  • Minitab
  • Microsoft Office
  • Microsoft Excel
  • Microsoft Access
  • Data entry software
  • R
  • Microsoft Outlook
  • The MathWorks MATLAB
  • Google Docs
  • Microsoft PowerPoint

How to Become an Economics Professor

Are there Economics Professor education requirements?

Economics Professor Degree Level

How many years of work experience do I need?

Economics Professor Work Experience

Where do Economics Professors Work?

Economics Professor Sectors

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons

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