An economy is made up of the production, distribution, trade and the consumption of goods and services in any given location.
Economics is the social science that studies the production, distribution and consumption of those goods and services.
Economists understand the relationship between these commodities and the effect of trends on the economy.
With advanced techniques in statistics and research, an economist studies these areas and predicts how a system might be affected by fluctuations, as well as how best to take advantage of, or prepare for such fluctuations.
Economists may work in various fields, sub-fields, and industries within any given economic system.
According to the Bureau of Labor Statistics, career opportunities for economists is growing at the average rate of 14 percent. Most work full-time business hours with occasionally longer hours to meet deadlines.
Economists may work in academia, government and private sector jobs, where requirements may vary.
In academia, an economist is one who holds a PhD in economics, teaches economic science and has published papers within the field.
Christian Broda meets that definition and more. Mr. Broda is a well-known economist who has been involved in numerous hedge funds and has worked in many areas of economics. Currently, he is Managing Director at Duquesne Capital Management. Formerly, Broda a tenured as professor at University of Chicago, Booth School of Business, he was simultaneously was Head of International Research for Lehman Brothers/Barclays Capital. Mr. Broda holds his PhD from Massachusetts Institute of Technology (MIT) and is a member of the National Bureau of Economists (NBER.)
Known for numerous papers he has published in the American Economic Review and Quarterly Journal of Economics, Broda is Associate Editor of Journal of Development Economics.
Economist are employable in a variety of position, dependent on a region’s economic factors and labour market conditions at any given time.
In government jobs, an economist need not have a PhD, so long as they have a degree that included or was supplemented by 21 hours in economics along with three hours in statistics, accounting, or calculus.
Politicians often consult with economists before enacting economic policy.
Economics is also a good field for future bankers and those who work within the field of finance.

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