Economists working for the Fed play a critical role in researching, formulating, and establishing monetary policy. Federal research economists are noted for original research in banking, regional economics, and monetary theory. International organizations like the World Bank, International Monetary Fund and the United Nations also provide tremendous opportunities for professional growth to first rate economists. Academics Many Economists are employed in colleges and universities as professors, researchers and administrators. In general, graduate degrees are required for such positions - a masters degree for two year colleges, and a PH.D. for four institutions.
Professors often provide consulting services to various private and governmental organizations.
An economics degree is often a stepping stone to further education in other areas. Economics is good preparation for such fields as law, journalism, or planning, all subjects where and advanced degree is required. The accomplishment of economics have established it as perhaps the most successful and prestigious of the social sciences.