Public utilities, whose rates must be reviewed by state commissions, keep economists on staff. Business economists are well paid but must generally have a master's or doctoral degree to attain top positions in their field. Those with bachelor's degrees work in entry-level positions and may take graduate courses to gain promotion. According to the National Association of Business Economists, the largest numbers of business economists work in manufacturing, banking, business services, and investments. The world's largest collector and user of economic data is the U. S. government.
Economists work in virtually every federal agency.
The Congressional Budget Office and the Office of Management and Budget prepare forecasts used in formulating tax and spending policy. The Federal Trade Commission, Food and Drug Administration, and other agencies regulate business affairs and perform analyses of regulatory impact. The State Department and CIA analyze international economic conditions. The Federal Reserve regulates banking conditions and researches monetary conditions. The Departments of Commerce and Labor collect and analyze a wide range of economic data.