The role of an Economist is to study and analyze the production and distribution of resources, good and services (within the private and/or public sector) through data collection and analysis, researching trends and evaluating economic issues. Economists are often also involved in researching and developing economic theories and policies.
Required School Subjects
You will need to have taken the following subjects at high school:
- Mathematics (with a final mark of 60%)
- English Home Language or First Additional Language (with a final mark of 60%)
Recommended subjects:
- Economics
- Business Studies
- Accounting
Required Qualification/s
In order to become an Economist, you will have to obtain, at minimum, an undergraduate degree (3 years) majoring in economics, as well as an honours degree in economics (1 year). An Economics major can be done as part of a Bachelor of Social Science degree, a Bachelor of Commerce degree or a Business Science degree. An Economics Honours degree can only be obtained through the commerce faculty. Further study, such as a Masters degree, is often required, or at the very least beneficial, for more senior positions.
Required Skills
You will need to have the following skills to succeed as an Economist:
- analytical skills
- good numerical skills
- communication skills
- problem-solving
- writing and research
The following institutions are highly recommended for studies in Economics:
- University of Cape Town (UCT): Faculty Point Score (FPS) of 440+
- University of the Witwatersrand (Wits): APS of 32+
- University of Pretoria (UP): APS of 32+
What is required to be an economist?
An economist usually needs a master’s degree or Ph. D., but in the case of entry-level jobs, such as in government, a bachelor’s degree is acceptable. An advanced degree in economics with a bachelor’s degree that is strong in a mathematical background is very important.
How much do economist earn in South Africa?
The average salary for an Economist is R 536 374 per year in South Africa. Salary estimates are based on 7 salaries submitted anonymously to Indeed by Economist employees, users, and collected from past and present job advertisements on Indeed in the past 36 months. The typical tenure for an Economist is 1-3 years.