How to become an Economist
Also called: Econometrician, Economic advisor, Economist (specialised), Environmental economist, Labour economist, Macroeconomist, Social economist, Trade economist, Transport economist, Head of Strategy/Head of Investment Strategy, Senior Economist, Econometrician
Economist conducts research, monitors data, analyses information, prepares reports and plans to resolve economic and business problems. He/she develops models to analyse, explain and forecast economic behaviour and patterns. He/she also provides advice to businesses, interest groups and governments to formulate solutions to present or project economic and business problems.
Main tasks
- Forecasting changes in the economic environment for short-term budgeting, long-term planning and investment evaluation
- Formulating recommendations, policies and plans for the economy, corporate strategies and investment, and undertaking feasibility studies for projects
- Monitoring economic data to assess the effectiveness, and advise on the appropriateness, of monetary and fiscal policies
- Forecasting production and consumption of specific products and services based on records of past production and consumption and general economic and industry-specific conditions
- Preparing forecasts of income and expenditure, interest rates and exchange rates
- Analysing factors that determine labour force participation, employment, wages, unemployment and other labour market outcomes
- Applying mathematical formulae and statistical techniques, testing economic theories and devising solutions to economic problems
- Compiling, analysing and interpreting economic data using economic theory and a variety of statistical and other techniques
Ways in
- University: Business & Commerce degrees, Offered by 6 universities in Singapore
Pay · Outlook · AI and this job
- Median pay: $72,960 a year. The middle half earn $58,176 to $240,000 a year.
- Generative AI could change many tasks in this job, which usually reshapes the work more than it replaces it, by the ILO's global estimate.
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Questions people ask
How do I become an Economist?
Ways in include: Business & Commerce degrees.
How much does an Economist earn in Singapore?
Median full-time pay is $72,960 a year (Ministry of Manpower (via data.gov.sg)). The middle half earn $58,176 to $240,000.
Will AI change the work of an Economist?
Generative AI could change many tasks in this job, which usually reshapes the work more than it replaces it, by the ILO's global estimate.
Sources
- Ministry of Manpower (via data.gov.sg): Resident Occupational Wages (Occupational Wage Survey) (June 2024 (data.gov.sg update 2026-04-01)), Singapore Open Data Licence v1.0, retrieved 4 October 2026
- International Labour Organization, Generative AI and Jobs: A Refined Global Index of Occupational Exposure (ILO Working Paper 140, Gmyrek et al.) (ILO Working Paper 140, May 2025, Annex Table A1), CC BY 4.0, retrieved 4 October 2026
Updated 4 October 2026