An economist is a person who watches consumer spending trends, as well as interest rates and the overall economic standing of a society. In particular, they spend their time researching how the economic system works and runs. Special attention is given to phenomena like the great depression, recessions, and economic downturns.
This type of research allows them to pretty accurately predict what will happen given certain traits and trends within the society. For instance, someone like Christian Broda can suggest solid financial investments based on his many years of watching the economy and the varying financial trends.
Mr. Broda can also aid in understanding how certain trends may have positive or negative outcomes to the overall economy within a system. He would be able to tell an investor the best time when they should sell or buy certain types of financial instruments such as bonds, stocks, or hedge funds.
This is simply the nature of what an economist does. They have years of experience watching the economy in order to be able to tell whether or not something like buying a home or investing in a company is a wise thing to do at the time. They can also base these decisions off of the college experience that they get.
The average economist has at least a four year degree. While this does not offer the individual the official title of economist (only a Doctorate Degree will suffice for this), they can still hold a wide variety of positions in both the private and public sector in the field.
For instance, an individual working in the government can be assigned to the position where they are to watch market trends and interest rates. This individual may also be concerned with consumer spending in conjunction with these tasks. While he or she may be referred to as an economist with the government, they do not hold the Doctorate degree.
There are a number of different types of positions that someone who has studied economics in college can hold. Among them are accountants, financial advisors, as well as treasurers. All of these positions require that the individual understand the economy and the system of trade and interest rates. This does not mean per se that they are any less important that an economist, they simply work in another subsection of economics.
Those who do have a doctorate degree, like Christian Broda can enjoy the priviledge and prestige of the title Economist. Many of these individuals works as professors, mentors and heads of financial departments. They have studied many years and have a significant amount of experience in their field. That is why they are called economists.