I'd like to know he possibilities of being hired as an economist.?

Question

what are the possible job opportunities for my son who plans to pursue his course in economy instead of being accountancy?

Answer 1

Economists held about 15,000 jobs in 2006. Government employed 52 percent of economists, in a wide range of agencies, with 32 percent in Federal Government and 20 percent in State and local government. The remaining jobs were spread throughout private industry, particularly in scientific research and development services and management, scientific, and technical consulting services. A number of economists combine a full-time job in government, academia, or business with part-time or consulting work in another setting.

Employment of economists is concentrated in large cities. Some work abroad for companies with major international operations, for U.S. Government agencies, and for international organizations, such as the World Bank, International Monetary Fund, and United Nations.

Answer 2

You need a PhD to become an economist, an MBA to become an accountant.  There are far more jobs in accountancy -- practically every company or organization needs one.  The government is the largest single employer of economists, then comes universities for econ professors/researchers.  There are also "think tanks" for the brightest and most innovative researchers.  Any bank larger than a small, locally owned credit union or savings bank hires an economist or two; the really major banks have a small economics department.

Since there are fewer people with PhDs in Economics, there is a better balance of people available per job opening than in accountancy, which is so popular it is pretty well glutted in many areas of the world.

Answer 3

In order to answer this question properly, more information is needed.  Does he plan on going to graduate school and getting a Ph.D.?   If so, then the next step is to figure out what type of economist he wants to be.  Does he want to work in government, private sector, consulting, for an international organization (e.g. World Bank or IMF), academia?   The labor market for each of these sectors operate very differently.   But as a starting point, he will need a Ph.D., preferably from a good school (in the top 25) to get the elite jobs in academia and even in the private sector and consulting to some extent.  The difference in salary and quality of jobs for elite school Ph.D. and non-elite school Ph.D.s is huge.  The largest job market for economists occurs every January at the ASSA meetings, where thousands of employers and new graduates meet.   You might also want to check out "job openings for economists".  Just do a google search and it should pop right up.

If he plans on only doing his bachelors, he will most likely be hired as a business analyst of some sort, either in a consulting firm, financial firm, bank, etc.   I doubt he will hold the title "economist" unless he is doing minion work for some Ph.D. economist.