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Economists typically do the following: Research and analyze economic issues. Conduct surveys and collect data. Analyze data using mathematical models and statistical techniques.

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A master's degree can generally be completed within two years, though some programs may be able to be completed in less time. An undergraduate degree in economics is not always required for admission, though students who have majored in another area may have to take additional coursework.

Economics masters degrees prepare graduates for further study at the doctoral degree level. Some programs allow students to choose an area of emphasis such as international economics or economic development; others may cover wide-reaching topics in contemporary economic issues. A thesis may be required, though some programs offer a non-thesis option.

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According to the Good Universities Guide 2008,economics graduates earned an average of $45,495. After a few years in the workforce economists can earn around $60,000 or more. Senior economists and econometricians can earn in excess of $150,000 per annum.

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Advantages:

Very high starting salary

Variety of work

The opportunity to network with senior management

Disadvantages:

Extremely competitive

For many roles ‘who you know’ is more important than ‘what you know’

Many of the banks have target universities

Very long hours with weekend shifts seen as standard

High stress environment

Low job security

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Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. By convention, the applied methods refer to those beyond simple geometry, such as differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, and other computational methods.[1][2] An advantage claimed for the approach is its allowing formulation of theoretical relationships with rigor, generality, and simplicity.[3]
Mathematics allows economists to form meaningful, testable propositions about wide-ranging and complex subjects which could less easily be expressed informally. Further, the language of mathematics allows economists to make specific, positive claims about controversial or contentious subjects that would be impossible without mathematics.[4] Much of economic theory is currently presented in terms of mathematical economic models, a set of stylized and simplified mathematical relationships asserted to clarify assumptions and implications.[5]

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Economics graduates are employable in varying degrees depending on the regional economic scenario and labour market conditions at the time for a given country. Apart from the specific understanding of the subject, employers value the skills of numeracy and analysis, the ability to communicate and the capacity to grasp broad issues which the graduates acquire at the university or college. Whilst only a few[quantify] economics graduates may be expected to become professional economists,[citation needed] many find it a base for entry into a career in finance – including accounting, insurance, tax and banking, or management.[citation needed] A number of economics graduates from around the world have been successful in obtaining employment in a variety of major national and international firms in the financial and commercial sectors, and in manufacturing, retailing and IT, as well as in the public sector – for example, in the health and education sectors, or in government and politics. Small numbers[quantify][citation needed] go on to undertake postgraduate studies, either in economics, research, teacher training or further qualifications in specialist areas.

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I want to be an economist because it uses a lot of math, and math it is my favorite subject in school. And as being an economist you exercise your brain every day by thinking and solving solutions and that will help me when i get older, like i will not be forgeting a lot of things.