Economist

Economists analyze economic data, trends, and policies to understand how resources are produced, distributed, and consumed. They advise businesses, governments, and organizations on economic strategies and decision-making.

What is a typical day as an Economist? 

– Collecting and analyzing data on economic conditions and trends 

– Conducting research on topics like inflation, employment, or international trade 

– Preparing reports, policy briefs, or forecasts to inform decision-makers 

– Advising clients or stakeholders on financial and economic strategies.

What else might they be expected to do? 

– Develop econometric models to predict market or economic trends 

– Teach economics courses at universities or provide training workshops 

– Represent organizations in negotiations, conferences, or public forums 

What type of training is needed for this career path? 

– A Bachelor’s degree in Economics or a related field is required for entry-level roles. 

– A Master’s or Ph.D. in Economics is often needed for advanced research or policy roles. 

– Training in statistical software and data analysis tools is essential. 

What kind of personality is needed to excel in this career path? 

– Analytical, detail-oriented, and strategic individuals thrive in this role. 

– Big 5 traits: Openness and Conscientiousness. 

– Myers-Briggs types: INTJ or ISTJ often align with this career. 

What kind of interests do people in this career path have? 

– Passion for understanding and influencing economic systems and policies (Investigative and Enterprising traits). 

– Interest in research, finance, and global development. 

– Interests & Aptitude: Investigative (I), Enterprising (E), and Conventional (C) 

Are there any innate skills or aptitudes required? 

– Strong mathematical and statistical skills to analyze complex data 

– Critical thinking and problem-solving abilities for developing economic strategies 

– Communication skills to present findings to technical and non-technical audiences 

What challenges can I expect to face if I pursue this career path? 

– Interpreting complex economic trends in uncertain environments 

– Balancing theoretical models with real-world economic behavior 

– Navigating the impact of political and social factors on economic recommendations 

What are the job prospects for this path in Kenya and Africa? What about International prospects for a Kenyan citizen? 

– Kenya and Africa: Economists are in demand in central banks, government ministries, NGOs, and private consulting firms. Opportunities also exist in sectors like agriculture, trade, and development. 

– International: Economists with expertise in global markets, trade, or development can find roles in international organizations such as the World Bank, IMF, and multinational corporations. 

What should I focus on if I choose to pursue this career? 

– Build strong quantitative and analytical skills through coursework and projects. 

– Gain experience in policy research or financial analysis through internships. 

– Stay informed about global economic trends and developments. 

Which other careers or job roles can I progress to? 

– Policy Analyst 

– Financial Consultant 

– Data Scientist or Analyst 

– Academic Researcher or Lecturer 

– Chief Economist for Organizations