Highly paid professions: who are economists?

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Who is an economist? It would seem that a simple question, but the trouble is, to give the same simple answer to it obviously will not work. And all the fault is the specificity of this profession with its complex dogmas and responsibilities. And yet, it is possible to give a basic idea of who economists are (of Russia in particular).

To do this, you need to look at the profession from the side and note the most important points, such as the main duties of an economist, the level of knowledge required, as well as possible areas of application of his skills.

Who are economists?

The first economists appeared long before the formation of modern states and peoples. So, even in ancient Egypt, merchants were thinking about how to reduce the cost of transporting building materials, while not sacrificing anything. Although these reflections were rather primitive, they were still an example of the first economic strategy.

Over the years, the need for business planning has only increased. And when market relations have become so saturated and unpredictable that one person cannot follow themmanaged, the first economists appeared.

Features of the profession of an economist

As mentioned earlier, these professionals are responsible for developing techniques to improve the operation of the enterprise. If we talk about who economists are in the broadest sense of the word, we can deduce the following wording. An economist is a specialist whose efforts are aimed at increasing the profit of an enterprise by reducing the cost of production.

This is not easy to do, especially in a highly competitive environment. And if an economist wants to succeed in his business, then he will have to approach his work with all seriousness. To do this, you need to study your own company from top to bottom in order to understand all the processes that take place inside it.

In addition, do not forget about external factors. After all, the situation on the market is always changing, and you need to be able to balance in order to make timely decisions.

What is the difference between an economist and an accountant and a financier?

Now quite often the professions of accountant, economist and financier are confused. This is a very sad fact. Although they are closely related, they are completely different positions. Therefore, in order to dispel the fog of misunderstanding, let's put everything in its place:

1. Accountant is the first step in the financial hierarchy in an enterprise. The main duty of this specialist is to collect information on all monetary transactions. That is, the accountant keeps records, fixes costs and profits, and also monitors taxpayments.
2. The Economist makes sure that only technologies and methods that are beneficial for the enterprise are used in production. Thanks to the reports of accountants, he sees the problematic issues in the financial system of the company and suggests ways to solve them.
3. The financier is a master of investments. This specialist is responsible for the implementation of new business ideas that can bring additional profit.

As you can see, there is a difference in these professions, so when choosing a future job, you need to pay attention to the requirements for candidates. After all, it often happens that a company saves on jobs and combines several professions together.

By the way, it is the job description of an economist that determines the range of his duties. Therefore, before putting a signature on it, you need to carefully read its contents.

Where to get an education in economics?

In order to become an economist, you need to get a higher education. Consequently, the path of a young specialist begins at the threshold of the university. In general, for admission, you need to pass exams in mathematics and the Russian language, and in some cases pass an interview.

More important is to choose the right college. Indeed, in the world of finance without a good reputation, it is very difficult to find a decent job. Therefore, it is worth studying the information about which universities famous Russian economists graduated from, and try with all your might to get there.

You should also give preference to institutions that specialize in financialeducation. After all, a diploma obtained at a banking academy is much more prestigious than the same document, only from an agricultural university.

Searching for a promising job

We figured out who economists are, now we need to understand: where to go to work with such an education?

To begin with, you should understand one point: you won’t be able to get a prestigious position without work experience. Except in cases where the young specialist has good references or connections among the company's management.

Otherwise, you will have to work in a small firm for 2-3 years. Perhaps even an accountant-economist by profession, since in such companies this position is often related. But do not be discouraged, such a practice will be beneficial, because it will help you get stronger and add fresh skills to an already perfected arsenal.

Advantages and disadvantages of the profession

Let's talk about the pros and cons of the profession. After all, whatever one may say, an economist is not a simple worker, therefore, the requirements for him will be more serious.

It should be noted that there are a lot of specialists of this profile in the labor market now. This intensifies competition, and only the most experienced and seasoned economists get prestigious jobs. In addition, the job description of an economist often has a clause that provides for compensation for damage. And when you work for a company that earns millions, you involuntarily understand how serious the consequences can be.

And yet, positive momentsmore. After all, an economist is a managerial position, and therefore you can safely count on a warm office, albeit not your own. The prospect of career growth is also attractive, and there is clearly no limit here. And finally, the financial side. Economist is a highly paid profession, and therefore you do not have to worry about the prospects for the future.