Economists

Economists are social scientists who study how people allocate scarce resources to satisfy their wants. They analyze production, distribution, and consumption of goods and services, develop theories about how markets work, and use data to explain economic behavior and to forecast future trends.

Economists work in academia, government, central banks, international organizations, and the private sector. They conduct research, provide policy analysis, and advise business leaders on matters such as inflation, employment, taxation, trade, and development strategy. Their findings aim to inform decision making and public debate.

Methodologically, economists combine theoretical models with empirical analysis. They use statistics and econometrics to test hypotheses, estimate relationships, and evaluate policy options. They may also rely on natural experiments, randomized trials, and computational simulations to assess causal effects.

Subfields include macroeconomics, microeconomics, econometrics, development economics, behavioral economics, financial economics, labor economics, international economics, health economics, environmental economics, and urban economics.

Education and training typically begin with a bachelor's degree in economics, followed by advanced degrees for research or academic careers. Students learn mathematical reasoning, statistics, and programming, and often gain experience with data analysis and economic reasoning through coursework and research projects.

Economics emerged from moral philosophy and political economy, becoming a distinct field in the 18th to 20th centuries. Early thinkers such as Adam Smith and David Ricardo laid the groundwork, while later economists like John Maynard Keynes shaped policy-focused approaches.

Economists influence policy debates, business strategy, and public understanding of markets. Standards and critiques of the field include concerns about model simplifications, data quality, replication, and potential biases. Ethical considerations and transparency are increasingly emphasized in research and reporting.