Economists study laws and market forces to understand and predict changes in business cycles.

Economists study how people share resources such as land, money, and raw materials. They conduct their own research or read the research of others. Some do research to expand their own knowledge and the knowledge of others. Others do research to develop policies and make recommendations.

Most economists specialize in one area of economics. They may specialize in:

• Changes in interest rates
• Employment levels
• Energy costs
• Food prices
• Import and export levels
• Rental costs

Some economists use mathematical and statistical models to predict economic outcomes. They watch changes in the economy and try to predict what will happen next.

Economists who conduct their own research must determine what they want to study. They plan the methods they will use to collect data. Economists must train and supervise students or research assistants to collect the data for them. Some economists use data collected by the government.

Once they have the data, economists analyze it. They interpret their results and write reports. Depending on the audience, these reports may need to be written in a way that can be understood by people who are not economists.

Some economists develop policies based on their research findings. They may present these findings at academic conferences or to other groups who would find the research useful. Some economists work for businesses. They may make recommendations for the business based on their results.

Many economists are also college and university professors. They teach in addition to conducting research. They may also supervise student research projects.