New York based Christian Broda on chicagobooth.edu is a popular name in the economic world. He has written various papers examining the impact of certain economic events on a national and global scale. Some of his most popular papers include those on Japan deflation, increasing promotion of income equality by China and Walmart, tax rebates of US in 2008, 2010 US strengthening, et al. He is the present Managing Director of the company Duquesne Capital Management. He also has a teaching career and has served as professor in a number of universities. Christian Broda has always asserted that a knowledge of economics is essential for almost every financial field.
Here are some vital tips about being an economist and what it takes to find success in this field –
Get Proper Education – Because Economics can be a complicated subject, nothing can replace proper education in this field. There are many formal courses that students can get enrolled in to enhance their knowledge of economics and learn about practical concepts. Generally, a person needs a Bachelor’s degree in the subject to start working in the field and a Masters or Doctorate to get to higher levels.
Get Some Work Experience – For people hoping to seek employment in the field, some amount of work experience is absolutely essential. There are a lot of things can be learned from books and formal education but actual knowledge is gained by applying those concepts in a real work environment and using them to analyze actual economic problems. Industrial summer internships are available at a lot of places for students who are still studying.
Cultivate Personal Skills – Great communication skills are found in almost every good economist. This is because simply analyzing a situation is not enough, the economist must be able to communicate those findings to the masses. So, in order to make it in the field, it is advised to cultivate great communication skills. Other personal characteristics include ability to work under pressure, micromanaging, multitasking, perseverance and management skills.
Learn About Networking – Not just for economists but for any professional, networking is something that cannot be ignored. It can be done by joining various associations and groups dealing with the field, communicating with peers in the industry, learning and teaching, and making a mark on other economists and businesses.
With these tips, students of the subject would realize that almost all their financial endeavours have better results because economics, as a concept, teaches people how to predict and deal with unintended consequences. Knowledge of economics is especially vital for trading, stock exchange and similar financial areas. It also equips people with a good basis to start their own business and work well with strategic planning.