Life As an Economics Professor
Occupation Description Teach courses in economics. Includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.
Economics Professor Responsibilities
- Provide professional consulting services to government or industry.
- Evaluate and grade students’ class work, assignments, and papers.
- Maintain regularly scheduled office hours to advise and assist students.
- Supervise undergraduate or graduate teaching, internship, and research work.
- Compile bibliographies of specialized materials for outside reading assignments.
- Keep abreast of developments in the field by reading current literature, talking with colleagues, and participating in professional conferences.
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What an Economics Professor Should Know
Economics Professors state the following job skills are important in their day-to-day work.
Speaking: Talking to others to convey information effectively.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Instructing: Teaching others how to do something.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Types of Economics Professor Jobs
- Econometrics Professor
- Economics Department Chair
- Economics Professor
- Business Professor
- Macroeconomics Professor
Job Outlook for Economics Professors
In 2016, there was an estimated number of 16,500 jobs in the United States for Economics Professor. New jobs are being produced at a rate of 10.9% which is above the national average. The Bureau of Labor Statistics predicts 1,800 new jobs for Economics Professor by 2026. The BLS estimates 1,500 yearly job openings in this field.
The states with the most job growth for Economics Professor are Oregon, Colorado, and California. Watch out if you plan on working in Wyoming, Vermont, or New Hampshire. These states have the worst job growth for this type of profession.
Average Economics Professors Salary
The salary for Economics Professors ranges between about $51,070 and $202,460 a year.
Economics Professors who work in New Hampshire, Rhode Island, or California, make the highest salaries.
Below is a list of the median annual salaries for Economics Professors in different U.S. states.
| State | Annual Mean Salary |
|---|---|
| Alabama | $114,020 |
| Arkansas | $94,750 |
| California | $139,050 |
| Colorado | $104,530 |
| Connecticut | $98,870 |
| District of Columbia | $110,350 |
| Florida | $116,920 |
| Georgia | $101,590 |
| Hawaii | $87,520 |
| Idaho | $83,550 |
| Illinois | $128,340 |
| Indiana | $126,230 |
| Iowa | $133,600 |
| Kansas | $114,000 |
| Kentucky | $85,500 |
| Louisiana | $101,670 |
| Maine | $99,630 |
| Maryland | $119,300 |
| Massachusetts | $125,120 |
| Michigan | $111,530 |
| Minnesota | $110,060 |
| Mississippi | $96,740 |
| Missouri | $108,240 |
| Nebraska | $99,920 |
| Nevada | $79,310 |
| New Hampshire | $161,830 |
| New Jersey | $117,220 |
| New York | $129,370 |
| North Carolina | $106,080 |
| North Dakota | $93,610 |
| Ohio | $109,960 |
| Oregon | $110,860 |
| Pennsylvania | $131,060 |
| Rhode Island | $156,620 |
| South Carolina | $70,190 |
| South Dakota | $86,280 |
| Tennessee | $130,170 |
| Texas | $115,240 |
| Utah | $117,380 |
| Virginia | $101,290 |
| Washington | $89,490 |
| West Virginia | $90,800 |
| Wisconsin | $119,560 |
Tools & Technologies Used by Economics Professors
Below is a list of the types of tools and technologies that Economics Professors may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- Data entry software
- Email software
- The MathWorks MATLAB
- Google Docs
- R
- Minitab
- StataCorp Stata
- Calendar and scheduling software
- Blackboard Learn
- Learning management system LMS
- Course management system software
- Sakai CLE
- iParadigms Turnitin
Becoming an Economics Professor
Are there Economics Professors education requirements?
How many years of work experience do I need?
Where do Economics Professors Work?
The table below shows some of the most common industries where those employed in this career field work.
References:
Image Credit: pixabay via CC0 License
More about our data sources and methodologies.
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