ANSWERS: 1
  • Using research and raw data, economists study the patterns and distribution of resources within a society---raw materials, land and currency, for example. With the data they collect, economists make educated guesses about future economic cycles and trends.

    Microeconomists

    Microeconomists study the effects of supply and demand on a small scale---specifically, companies and individuals. They can be used as consultants by companies that seek advice on maximizing profits.

    Industrial Economists

    Industrial economists specialize in studying individual industries, such as agriculture or manufacturing. They must be informed about the monopolies that exist within each industry and how the decision of one prominent competitor will effect the others.

    Macroeconomists

    Macroeconomists study the economy on a large scale, and, because they specialize in forecasting trends, are often valuable contributors to government decisions. Such trends include unemployment, inflation and investment.

    International Economists

    International economists are responsible for studying the global economic market. They evaluate trends in currencies and trade policies.

    Econometricians

    Econometricians study all types of economics across all scales. They utilize mathematical approaches to analyzing economic relationships, such as how the rate of inflation impacts the total economy.

    Source:

    U.S. Department of Labor: Bureau of Labor Statistics

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