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American specialists who work as economists have usually a graduate degree in economics either a master’s degree or а Ph.D. About half of them are academic economists, who are engaged in teaching, writing and doing research in colleges and universities. 1_______.
The other half of this profession works for business or government. 2_______. Some business economists work for private organisations, helping them prepare their arguments to try to affect tax laws, regulations, etc. which are important to particular branches oЈ industries.
Government economists also perform a variety of useful tasks. 3_______. Economists forecast tax revenues and interest rates, analyse who gains and who loses from particular changes, monitor prices, compute total output and perform other useful tasks in the public sector.
4_______.
They also write textbooks and journal articles, develop and test new theoretical models, provide consulting services to governments and businesses
Business economists forecast sales and costs, help firms anticipate government policy
Often the government economist works as a policy analyst
In the broader sense, economists study the ways in which people deal with the problems of scarcity, because at all times and in all societies, everyone faces the scarcity problem in some form