Economics Professor

Industry:
Education
Last Updated:
September 19, 2023

Job Description Overview

An Economics Professor job description involves teaching and researching various aspects of economics to college-level students. As an expert in the field, the professor prepares and delivers lectures, leads discussions, and creates assignments that challenge and engage students. They also grade exams and essays, offer feedback, and hold office hours to provide extra support to students who may need it.

Beyond the classroom, the Economics Professor conducts research in their area of specialization, writes academic papers, and presents their work at conferences. They collaborate with other professors and colleagues on research projects, and share their knowledge with the broader academic community through publications and presentations.

An Economics Professor job description requires someone who is passionate about economics and enjoys sharing that passion with students. It requires strong communication skills, the ability to deliver complex information in a clear and understandable way, and a commitment to staying current with the latest research in the field.

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Job Duties and Responsibilities

  • Teach students about the principles and theories of economics, using lectures, discussions, and practical examples.
  • Develop course materials, assignments, and exams to assess student learning and understanding.
  • Provide guidance and mentorship to students, both inside and outside the classroom, to help them achieve their academic and career goals.
  • Conduct research in the field of economics, including writing papers and articles, giving presentations, and attending conferences.
  • Serve on committees and participate in academic and administrative meetings to contribute to the governance of the institution.
  • Collaborate with other economics professors to coordinate curriculum, share resources, and promote academic excellence within the department.
  • Stay up-to-date on the latest developments in economics through reading, attending seminars, and engaging with the wider academic community.
  • Act as an ambassador for the economics department and the institution, engaging with alumni, donors, and the public to promote the value of education and the benefits of economics.

Experience and Education Requirements

To become an Economics Professor in the Education industry, you generally need a lot of education and experience. Most schools require a Ph.D. degree in economics or a related field. This usually means several years of graduate school and extensive research on a particular topic. In addition to a degree, you must also have teaching experience. This can include teaching assistantships, adjunct positions, or even work as a private tutor. Ideally, you would also have a strong record of academic publication and research. This shows your expertise and helps you stand out in a competitive job market. So, if you want to become an Economics Professor, be prepared to put in a lot of hard work!

Salary Range

An Economics Professor's salary range in the United States typically falls between $72,000 and $181,000 per year, according to Salary.com. The exact amount depends on factors such as geographic location, level of education, and years of experience. In other countries, such as Canada and the United Kingdom, the average salary ranges from CAD$57,000 to CAD$155,000 and from £30,000 to £90,000, respectively. It is worth noting that many Economics Professors also supplement their income by conducting research and publishing academic papers.

Sources:

  • Salary.com: https://www.salary.com/research/salary/benchmark/economics-professor-salary
  • PayScale Canada: https://www.payscale.com/research/CA/Job=Economics_Professor/Salary
  • Times Higher Education: https://www.timeshighereducation.com/jobs/salary-scales/economics

Career Outlook

The career outlook for Economics Professors is expected to grow over the next five years. According to the Bureau of Labor Statistics, employment of postsecondary teachers is projected to grow 9% from 2019 to 2029, faster than the average for all occupations. As the economy continues to evolve, businesses and policymakers will need more experts in economics to help them navigate these changes. The demand for these experts will increase in both the public and private sectors, making it a great time to pursue a career in this field. Furthermore, those with a Ph.D. in economics will have an advantage in finding tenure track positions at universities.

Source: https://www.bls.gov/ooh/education-training-and-library/postsecondary-teachers.htm

Frequently Asked Questions (FAQ)

Q: What does an Economics Professor do?

A: Economics Professors teach college students about economic theory, public policies, and conduct research in order to inform various sectors of the economy.

Q: What education does an Economics Professor need?

A: To become an Economics Professor, one typically needs a Ph.D. in Economics or a related discipline, as well as relevant work experience. 

Q: What are the working hours of an Economics Professor?

A: Economics Professors have flexible schedules, with many working part-time and others working full-time. They may be required to work evenings, weekends or irregular schedules to accommodate student needs.

Q: What attributes must an Economics Professor possess?

A: Excellent communication, presentation, and analytical skills are essential for an Economics Professor. They must also have a passion for teaching, be approachable, patient and have strong time-management and organizational abilities.

Q: What is the job outlook for Economics Professors?

A: According to the U.S. Bureau of Labor Statistics, employment of economists is projected to grow 6 percent from 2019 to 2029. This growth is due to the increasing demand for economists in private and public organizations, mainly in business and science research.


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