Economists play an important role in society by studying the behavior of markets, individuals, and organizations. They are responsible for formulating theories and policies that can be used to improve the functioning of the economy. The most difficult part of an economist’s job is anticipating the effects of government policies and making forecasts to predict the future economy. They use a variety of tools such as statistics, mathematics and econometrics to make assumptions and estimations.

With the growth of globalization, economists now research ways to maximize the efficiency of international trade agreements, like the implementation of tariffs, so a country's production and consumption of goods and services can be kept in balance. Economists are often consulted by business owners, investors and government officials to provide valuable insight and economic analysis. This economic analysis can help them make sound decisions about future investments, business strategies, and government policy.

In addition to research, economists must also communicate their ideas to other economists, investors, business people and politicians. They must learn how to effectively communicate their ideas in writing and orally, so that the people they are speaking with understand the data and the implications of the data.

Economists are vital for understanding how economies work and how they can become more efficient. Without them, policymakers would be unable to set realistic goals, conduct research or make informed decisions. With the role of economists becoming increasingly important, the field continues to draw interest and career opportunities. Economists use their advanced understanding of markets and economic theories to suggest beneficial policies and find solutions to prevailing problems.