Professor of Economics and Finance

Industry:
Education
Last Updated:
March 13, 2023

Job Description Overview

As a Professor of Economics and Finance, your job is to teach students about the principles of economics and financial management. You'll deliver lectures, present course material, and grade student assignments. You'll also work with other faculty members to develop curriculum, advise students, and conduct research. 

To become a professor, you'll need a Ph.D. in economics or finance, or a related field. You'll also need experience working in the finance industry, as well as strong analytical and research skills. 

Your role as a professor is critical to shaping the next generation of economists and financial professionals. By imparting knowledge and skills to your students, you're equipping them with the tools they need to succeed in a competitive field. If you're passionate about economics and finance, and enjoy teaching others, then the Professor of Economics and Finance job description may be a great fit for you!

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Job Duties and Responsibilities

  • Teach courses in economics and finance to undergraduate and graduate students.
  • Develop course curricula and lesson plans based on departmental and faculty guidelines.
  • Conduct research and publish scholarly articles in peer-reviewed journals.
  • Mentor and advise students on academic and career goals.
  • Serve on departmental and university committees to further academic and institutional objectives.
  • Participate in academic conferences and professional development opportunities.
  • Collaborate with other faculty members to design interdisciplinary coursework.
  • Utilize technology and other learning tools to enhance student learning experiences.
  • Evaluate student achievement through assignments, exams, and other assessments.
  • Maintain and expand knowledge of trends and developments in the field of economics and finance.

Experience and Education Requirements

When it comes to being a Professor of Economics and Finance in the education industry, one needs a certain level of education and experience. Typically, this means someone needs to have earned a Ph.D. in economics or finance from an accredited university. Additionally, they should have at least 5-10 years of work experience within the field. This can include experience working in the financial industry, conducting research, and publishing scholarly papers. It's also important for professors to have excellent communication skills, both verbal and written, as they will be teaching and presenting their research to students and colleagues. The ability to work collaboratively and to mentor students is also highly valued.

Salary Range

The salary range for a Professor of Economics and Finance in the Education industry varies widely by country, location, experience and education level. In the United States, the median salary for a Professor of Economics and Finance is between $100,000 and $150,000 per year. However, salaries can range from $60,000 to over $200,000 depending on the institution and region. In the United Kingdom, professors of economics and finance can expect a salary range of £41,526 - £70,000 per year. In Australia, the average salary for professors in this field is around AU$190,000 per year.

Sources:

  • https://www.glassdoor.com/Salaries/professor-economics-and-finance-salary-SRCH_KO0,32.htm
  • https://www.prospects.ac.uk/job-profiles/higher-education-lecturer
  • https://www.payscale.com/research/AU/Job=Professor,Postsecondary%2FHigherEducation/Salary

Career Outlook

The career outlook for a Professor of Economics and Finance in the Education industry over the next 5 years looks promising. According to the Bureau of Labor Statistics, the employment of post-secondary teachers (which includes professors) is projected to grow 9 percent from 2019 to 2029, which is faster than the average for all occupations. Additionally, there is a high demand for economic and finance professors in business schools and other higher education institutions. This is because more and more students are enrolling in business and finance programs. As a result, there will be an increased demand for high-quality teaching staff in these areas. Therefore, becoming a Professor of Economics and Finance can be a wise career choice for those who want to make an impact in the field of education.

Frequently Asked Questions (FAQ)

Q: What does a Professor of Economics and Finance teach?

A: They teach courses related to economics, finance, accounting, and business management, at the undergraduate or graduate level.

Q: What qualifications are required to become a Professor of Economics and Finance?

A: Typically, it requires a Ph.D. in economics or a closely related field, along with research experience, publications, and teaching experience.

Q: What skills are needed to succeed in this job?

A: Strong analytical skills, a deep understanding of economic principles and theories, the ability to communicate complex ideas effectively, and a passion for teaching and research.

Q: What is the work schedule like for a Professor of Economics and Finance?

A: They typically have flexible schedules, which may include teaching classes, conducting research, attending meetings, and mentoring students. They may have to work long hours during peak times, such as around exams and deadlines.

Q: What kind of career prospects are available for Professors of Economics and Finance?

A: They can work in academia, government, finance, research, and consulting. They can also advance to higher positions, such as department chair, dean, or provost.

Cover Letter Example

As a seasoned economist with [experience] in both academia and industry, I am writing to express my interest in the position of Professor of Economics and Finance at [organization]. My [qualifications], combined with my passion for teaching and research, make me an ideal candidate for this role.

My extensive academic background includes a PhD in Economics from [university] and several years of teaching undergraduate and graduate courses in economics, finance, and statistics. I have also published numerous papers and presented at conferences on topics related to financial management, international trade, and macroeconomic policy. In addition to my academic work, I have worked as a consultant for several companies, analyzing data and providing strategic advice on issues related to pricing, risk management, and capital allocation. I am excited about the opportunity to bring this rich mix of academic and professional experience to [organization], and to inspire and challenge students to excel in their studies of economics and finance.

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