Now Entering Russ's World
A professional in the field of economics is referred to as an economist. Economics is considered a social science that studies and attempts to determine the variables that affect production, consumption and the distribution of goods and services. It is an extremely large and ever changing social science that keeps economists very busy. They have to constantly stay updated on economic policies, and they have a variety of tasks they can be used for that range from teaching to consulting heads of state.
Economists study the interactions and behaviors of how economies work and economic interactions. Typically their area of discipline will be categorized either under macroeconomics or microeconomics. Micro and macroeconomics each have a plethora of jobs and areas of studies that economists have to immerse themselves in.
Economists that go into macroeconomics have to deal with the behavior, structure, performance and the decision making of an economy in its entirety instead of its single markets. Just because macroeconomics deals with the economy as a whole doesn’t mean the economist just works on the national level. They might work on a global, regional, state, city or a national level. A macroeconomist will study things like price indexes, unemployment, currency values and the gross domestic product of an economy. They usually try to prepare models of how output, consumption, savings, inflation, national income and international finance all relate to each other.
Microeconomists get much more specific in their job. They focus on firms and people instead of large economic systems. They look at how limited resources are allocated and the decisions made regarding the allocations. They’re usually more concerned and deal with things like economic policies, the taxation system and supply and demand, and the effects they impose. It would take a true expert to truly illustrate the difference between the two fields of economics and the terms involved.
Christian Broda is an expert in economics, and that is putting it lightly. Christian’s education makes him an authority on the subject of economics for North and South America. He received a degree in economics from the Universidad de San Andres in Argentina in 1997. Later, he went onto to receive his Masters degree from the Massachusetts Institute of Technology, and like most economists, he went on to earn his PhD. Christian Broda is the complete package that every economist can only hope to become, and he is a fountain of knowledge to say the least.