a dark blue TraitLab logo
Pricing Sign up

Have an account? Sign in

Career profile Economics Professor

Also known as Adjunct Professor, Assistant Professor, Associate Professor, Economics Instructor, Economics Lecturer, Economics Professor, Finance Professor, Instructor, Lecturer, Professor

Economics Professor

Also known as Adjunct Professor, Assistant Professor, Associate Professor

Interests Profile
  • Social
  • Investigative
  • Artistic
Pay Range
$53,860 - $208,000+ (annual)
Required Skills
  • Speaking
  • Reading Comprehension
  • Active Listening
Knowledge Areas
  • Mathematics
  • Education and Training
  • Economics and Accounting
Core tasks
  • Prepare and deliver lectures to undergraduate or graduate students on topics such as anatomy, therapeutic recreation, and conditioning theory.
  • Prepare course materials, such as syllabi, homework assignments, or handouts.
  • Conduct research in a particular field of knowledge and publish findings in scholarly journals, books, or electronic media.
Is Economics Professor the right career path for you?

Would Economics Professor be a good fit for you?

Explore how your personality fits with Economics Professor and hundreds of other career paths.

Create your free account

What does an Economics Professor do?

Economics Professors teach courses in economics.

In addition, Economics Professors includes both teachers primarily engaged in teaching and those who do a combination of teaching and research.

What kind of tasks does an Economics Professor perform regularly?

Economics Professors are often responsible for overseeing or executing some or all of the following tasks:

  • Prepare and deliver lectures to undergraduate or graduate students on topics such as anatomy, therapeutic recreation, and conditioning theory.
  • Prepare course materials, such as syllabi, homework assignments, or handouts.
  • Conduct research in a particular field of knowledge and publish findings in scholarly journals, books, or electronic media.
  • Keep abreast of developments in the field by reading current literature, talking with colleagues, giving presentations at conferences, and serving on committees in professional associations.
  • Evaluate and grade students' class work, assignments, papers, and oral presentations.
  • Plan, evaluate, and revise curricula, course content, course materials, and methods of instruction.
  • Compile, administer, and grade examinations or assign this work to others.
  • Maintain student attendance records, grades, and other required records.
  • Initiate, facilitate, and moderate classroom discussions.
  • Supervise undergraduate or graduate teaching, internship, and research work.
  • Maintain regularly scheduled office hours to advise and assist students.
  • Advise students on academic and vocational curricula, and on career issues.
  • Collaborate with colleagues to address teaching and research issues.
  • Select and obtain materials and supplies, such as textbooks and performance pieces.
  • Perform administrative duties, such as serving as department heads.
  • Participate in student recruitment, registration, and placement activities.
  • Compile bibliographies of specialized materials for outside reading assignments.
  • Serve on academic or administrative committees that deal with institutional policies, departmental matters, and academic issues.
  • Write grant proposals to procure external research funding and review others' grant proposals.

The above responsibilities are specific to Economics Professors. More generally, Economics Professors are involved in several broader types of activities:

Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
Training and Teaching Others
Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
Updating and Using Relevant Knowledge
Keeping up-to-date technically and applying new knowledge to your job.
Thinking Creatively
Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
Identifying Objects, Actions, and Events
Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

What is an Economics Professor salary?

The median salary for an Economics Professor is $107,260, and the average salary is $123,720. Both the median and average roughly describe the middle of the Economics Professor salary range, but the average is more easily affected by extremely high or low salaries.

Many Economics Professors earn significantly more or less than the average, due to several factors. About 10% of Economics Professors earn less than $53,860 per year, 25% earn less than $75,710, 75% earn less than $152,110, and 90% earn more than $208,000.

Between the years of 2020 and 2030, the number of Economics Professors is expected to change by 8.8%, and there should be roughly 1,700 open positions for Economics Professors every year.

Median annual salary
$107,260
Typical salary range
$53,860 - Over $208,000
Projected growth (2020 - 2030)
8.8%

What personality traits are common among Economics Professors?

Interests

Career interests describe a person's preferences for different types of working environments and activities. When a person's interest match the demands of an occupation, people are usually more engaged and satisfied in that role.

Compared to most occupations, those who work as an Economics Professor are usually higher in their Social and Investigative interests.

Economics Professors typically have very strong Social interests. Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Also, Economics Professors typically have strong Investigative interests. Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.

Values

People differ in their values, or what is most important to them for building job satisfaction and fulfillment.

Compared to most people, those working as an Economics Professor tend to value Achievement, Independence, and Recognition.

Most importantly, Economics Professors very strongly value Achievement. Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment.

Second, Economics Professors strongly value Independence. Occupations that satisfy this work value allow employees to work on their own and make decisions.

Lastly, Economics Professors strongly value Recognition. Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious.

Psychological Demands

Each occupation brings its own set of psychological demands, which describe the characteristics necessary to perform the job well.

In order to perform their job successfully, people who work as Economics Professors must consistently demonstrate qualities such as analytical thinking, achievement/effort, and integrity.

Below, you'll find a list of qualities typically required of Economics Professors, ranked by importance:

Analytical Thinking
Job requires analyzing information and using logic to address work-related issues and problems.
Achievement/Effort
Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Integrity
Job requires being honest and ethical.
Dependability
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Independence
Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.

What education and training do Economics Professors need?

Many Economics Professors have earned a graduate degree. For example, they may require a master's degree, and some require a doctoral degree, such as a Ph.D., M.D., or J.D..

Economics Professors may need some on-the-job training, but most candidates will already have the required skills, knowledge, work-related experience, and/or training.

Educational degrees among Economics Professors

  • 0.6% did not complete high school or secondary school
  • 1.4% completed high school or secondary school
  • 2.0% completed some college coursework
  • 1.8% earned a Associate's degree
  • 14.6% earned a Bachelor's degree
  • 32.1% earned a Master's degree
  • 47.4% earned a doctorate or professional degree

Knowledge and expertise required by Economics Professors

Economics Professors may benefit from understanding of specialized subject areas, such as mathematics, education and training, or economics and accounting knowledge.

The list below shows several areas in which most Economics Professors might want to build proficiency, ranked by importance.

Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Education and Training
Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Important Abilities needed by Economics Professors

Economics Professors must develop a particular set of abilities to perform their job well. Abilities are individual capacities that influence a person's information processing, sensory perception, motor coordination, and physical strength or endurance. Individuals may naturally have certain abilities without explicit training, but most abilities can be sharpened somewhat through practice.

For example, Economics Professors need abilities such as oral expression, oral comprehension, and written comprehension in order to perform their job at a high level. The list below shows several important abilities for Economics Professors, ranked by their relative importance.

Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension
The ability to read and understand information and ideas presented in writing.
Written Expression
The ability to communicate information and ideas in writing so others will understand.
Speech Clarity
The ability to speak clearly so others can understand you.

Critical Skills needed by Economics Professors

Skills are developed capacities that enable people to function effectively in real-world settings. Unlike abilities, skills are typically easier to build through practice and experience. Skills influence effectiveness in areas such as learning, working with others, design, troubleshooting, and more.

Economics Professors frequently use skills like speaking, reading comprehension, and active listening to perform their job effectively. The list below shows several critical skills for Economics Professors, ranked by their relative importance.

Speaking
Talking to others to convey information effectively.
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Writing
Communicating effectively in writing as appropriate for the needs of the audience.
Instructing
Teaching others how to do something.

What is the source of this information?

The information provided on this page is adapted from data and descriptions published by the U.S. Department of Labor, Employment and Training Administration under the CC BY 4.0 license. TraitLab has modified some information for ease of use and reading, and the U.S. Department of Labor, Employment, and Training Administration has not approved, endorsed, or tested these modifications.

If you have any questions or suggestions about this information, please send a message.