Economist
Study how money, resources and decisions shape the economy.
- $124,720
- 2–6 years after a bachelor’s
Education & Childcare career
Economics Professor
Also called: Economics Faculty · Economist Professor · Microeconomics Professor · Econometrics Professor
What economics professors do, what they earn, how long training takes and how to get started, with official BLS pay data and practical, job-level detail.
What does an economics professor do?
Economics teachers, postsecondary, teach courses in economics at colleges and universities and often conduct economic research. The median pay is $123,920 per year (BLS, May 2025), most people train for about 5–6 years after a bachelor’s, and employment is projected to grow +2.4% from 2025–35.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
- Median pay$123,920Annual salary · May 2025
- Job growth+2.4%2025–35, slower than average
- Openings per year1,000Average, 2025–35
- Typical entry educationDoctoral or professional degreeBLS classification
- Time to train5–6 years after a bachelor’sTypical program length
- U.S. jobs14,600Employment, 2025
What economics professors do
Economics professors teach how people, businesses and governments make choices. They teach micro- and macroeconomics, econometrics and policy, analyze data, research topics like labor markets, trade or inflation, publish papers and sometimes advise governments and businesses.
Most hold a Ph.D. in economics. Economics faculty are among the highest-paid postsecondary teachers, per BLS.
Typical duties
- Teach economics courses
- Analyze economic data
- Conduct research
- Publish papers
- Advise students
- Advise policymakers
- Serve on committees
Work environment and schedule
Faculty work in classrooms and offices at colleges and universities.
Schedule: Teaching, research and service with flexible hours.
A day in the life
- Teach principles of macroeconomics.
- Hold office hours.
- Run regressions on labor data.
- Present at a seminar.
See a full day in the life of an economics professor →
Economics Professor salary
Half of economics professors earned more than $123,920 and half earned less in May 2025. Pay ranged from about $64,060 for the lowest 10% to $224,200 for the top 10%.
Full economics professor pay scale and hourly rates →
How to become an economics professor
- Earn a bachelor’s
- Take advanced math
- Complete a Ph.D.
- Go on the job market
- Get hired
A Ph.D. in economics is typical.
Step-by-step guide to becoming an economics professor →
Skills and tools
Technical skills
- Economic theory
- Econometrics
- Statistics
- Data analysis
- Research
People skills
- Clear explanation
- Critical thinking
- Communication
- Persistence
All economics professor skills and tools →
Pros and cons
Pros
- High pay for academia
- Policy influence
- Research freedom
- Data-driven work
Cons
- Competitive job market
- Publication pressure
- Long Ph.D.
- Math-heavy
Certifications and licenses
- Ph.D. in economics: Doctoral degree.
- Research grants: NSF and foundations.
- Teaching certificate: Optional.
- Policy fellowships: Government and think tanks.
Career path
- Graduate Instructor: Train.
- Assistant Professor: Tenure track.
- Associate Professor: Tenure.
- Professor or Chair: Lead departments.
Learn the job before day one
Our Economics Professor training (10 hours, $89.99) covers the role, 15+ key terms, step-by-step procedures such as teach supply and demand with a classroom market and run a regression analysis, safety and how to land your first job.
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Political Science Professor
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Compare: Economics Professor vs. Economist · Economics Professor vs. Business Professor · Economics Professor vs. Political Science Professor · Economics Professor vs. Math Professor
Economics Professor FAQ
Do economics professors need a Ph.D.?
Yes, in most cases.
Do they advise governments?
Some do.
Is the pay high?
Economics faculty are among the higher-paid postsecondary teachers.
How much does an economics professor make?
The median annual wage for economics professors was $123,920 in May 2025, according to the U.S. Bureau of Labor Statistics. The lowest 10% earned less than $64,060 and the highest 10% earned more than $224,200.
How long does it take to become an economics professor?
Most people need about 5–6 years after a bachelor’s of training. A Ph.D. in economics is typical.
Do you need a degree to be an economics professor?
Usually. BLS lists a doctoral degree as typical for postsecondary teachers. Universities generally require a Ph.D., while community colleges often hire instructors with a master’s degree.
More economics professor questions →
Sources
- U.S. Bureau of Labor Statistics, BLS Occupational Employment and Wage Statistics (OEWS), May 2025, SOC 25-1063 (Economics teachers, postsecondary).
- U.S. Bureau of Labor Statistics, BLS Employment Projections, Table 1.2 (2025–35).
- O*NET OnLine summary for Economics teachers, postsecondary (U.S. Department of Labor).
- BLS Occupational Outlook Handbook.
Reviewed by the Career Education Institute Curriculum Team. Pay figures are national estimates; local pay varies. See our editorial policy.