Economists research and collect important data, analyze economic concerns or issues, predict trends, or recommend economic policies.
Since most of this work is independent, they can work from home efficiently.
Sometimes, they may need to reach out to other economists, researchers, or statisticians for information or insights.
If you want to know more about economists working remotely, follow this guide.
What Do Home Economists Do?
Contrary to their name, home economists are not professionals who work from home.
Home economists are experts who help individuals learn how to read and select consumer products, cook healthy food, knit or sew clothes and textiles, look after children, and take care of their household.
On the other hand, economists who work from home research and study specific economic activity and data to develop theories, make predictions or advise individuals on the economy.
They may work within specialized domains, such as international trade, health economics, or certain industrial sectors.
As economists, they may perform any or all of the following tasks:
- Research and compile relevant information
- Pinpoint market trends
- Predict future economic behavior
- Form economic policies to solve problems
- Develop financial policies to solve consumer or business problems
- Create reports
- Draw models and graphs to display economic activity clearly
- Supervise junior economists or analysts
- Connect with employers, teams, or clients
- Prepare and present professional presentations on research findings and insights.
Also read Can Economists Work In Finance?
How Many Hours Do Economists Work?
Most economists work regular business hours, from 9 am to 5 pm, Monday to Friday.
Sometimes, they may need to work overtime to finish projects.
If economists work remotely, they may be able to set their hours as long as they meet deadlines.
What Are The Pros And Cons Of Remote Working?
Many economists prefer to work remotely because:
- Better Work-Life Balance: Economists who work in the office follow the traditional 9-5 schedule. When they include their commute time, it leaves little flexibility for work-life balance. If they work from home, they can set their own agenda.
- Increased Productivity: Most economists work independently. An office environment may slow down their productivity levels, as they have many distractions around them. Their home office may be more accommodating for their tasks.
- Fewer Limitations with Location: Many people cannot find preferable jobs because they do not live close to or cannot reach their physical workplace. Remote work allows them to work from anywhere.
However, there are a few potential negatives:
- Burnout: Economists often have large projects. They may work long hours at home when they are not bound to a 9-5 schedule. This can lead to stress, fatigue, and burnout.
- Lack of Community: Although remote workers can connect with their teams or employees via the internet, they may find the communication cold and distant. The lack of a shared office and accessible community may lead to poor mental health.
Also see Can Economists Work In Oil Companies?
Where Can A Home Economist Work?
A home economist can work for government agencies, hospitals, high schools and universities, rehabilitation centers, community centers, social housing, and professional organizations or associations.
An economist can work for the government, research and development firms or departments, consulting agencies, and economic advisory boards for cities, regions, states, businesses, or industries.
Depending on their specific employer, they may be able to work from home or any other remote location.
What Do You Need To Work From Home?
If economists prefer to work remotely, they will need to secure a few essential tools, such as:
- Computer with an up-to-date graphics card and sufficient storage
- High-speed internet connection. They may also need access to the Ethernet, as many agencies or businesses require a secured connection.
- Specialized software such as SAS, Stata, RATS, Excel, or MatLab.
Where To Start Looking For A Home Economist Job?
Whether you have an interest in a home economist position or a work-from-home economist job, you can find numerous job postings through:
- Job listing websites such as Indeed, ZipRecruiter, LinkedIn, and Glassdoor
- Government job listings on USAJobs
- Contacting your local government or preferred employer directly to find out if there are any remote job openings
- If you are still in school, your academic institution may have a job assistance office helping match students with job opportunities.
See Can Economists Work From Home?
Whether you are studying to be an economist or have plenty of experience, a remote economist position may be within reach.
It is an excellent option for those who work well on their own, enjoy the comfort of familiar surroundings, and consider themselves self-motivated and directed.