The Economist

An economist on a day-to-day basis will provide economic analysis on recurring and temporary issues going on in society in many different sectors of the economy(i.e: primary, secondary/manufacturing sector, and the service/ tertiary sector), making presentations and discussing costs in different markets of the economy to a board of commissioners, and collecting different parts of a company, such as the customer usage, spending patterns or any other type of patterns, and power costs(impact on utilities various customer classes). With salary, if you only have a degree, you can expect to make between 50-60k a year, a masters can get you 60-80k a year, and a PHD in economics can get you a yearly salary of 80-100k, especially if you are working with the government of Canada or a bank. Most likely I would like to work for the federal government or with the Canadian Security Intelligence Service as a Financial Officer. The math we learned in our course is all used in economics, but I would like to bring it down to the three main ones I think that are used the most. Unit 4 which is geometry, is used a lot. Economics and the data used is usually explained in a linear flat plane perspective. Using geometry, we can include the volume variable which is used, but missed with linear viewing. This with the fact that our universe is 4 dimensional, we can use the volume, time, and geometry, to overall get better predictions of market and financial crisis that might happen. This will work better too, because in the real world data is not always flat and linear(theoretical), so using geometry will include that volume variable giving us a greater outlook on the future economy. Reference-Ilya Kuntsevich. A really important unit that we learned that is widely used in economics is graphical modelling. This is used to see what external factors might affect a market like illegal drugs for example. Because selling drugs are illegal, we would have to make a new curve (supply + cost of breaking the law), and for buying drugs we must create the curve(demand - the cost of breaking the law). This would create a margin where p2-p3 equals the true cost of buying/selling drugs. Also graphical models in economics can be used to find where the market price occurs through equilibrium. This is where the supply is equal to the demand in the market which then creates the state for people to agree to do business. The last main unit that we learned that would be important in economics would be unit 6, Algebra. Especially in economics, linear algebra would be used to calculate differential equations. Some concepts that this would be widely used in would be the matrix and optimal inputs. Finding determinants though linear algebra helps us in an economics point of view, find inner-related factors that affects the rate of economic growth(i.e: GDP of an economy).