THE CALL FOR INCREASING PARTICIPATION OF ECONOMISTS IN EVERY SECTORS OF THE NIGERIAN ECONOMY
By Victor Abidemi
abidemivic@gmail.com
The world is rapidly moving towards an economic system that is based on the continuous application of economic analysis to real world issues, as such the role of Economist all over the world is increasingly becoming important and vital to the growth of any nation. In the US for example, Economist typically do the following: Research and analyze economic issues Conduct surveys and collect data Analyze data using mathematical models and statistical techniques Prepare reports, tables and charts that present research results Interpret and forecast market trends Advise businesses, governments and individuals o economic topics Design policies or make recommendations for solving economic problems Write articles for publication in academic journals and other media sources While doing all these,
Economist in the US earn an annual average income of about $91,860 with nearly half of them working across the Federal, state and local government. They usually help collect and analyze data about US economy including employment, prices, productivity and wages among other types of data. They also project spending needs and inform policy makers on the economic impact of laws and regulations. These and many more are what Economist do in the US. In UK, France, Japan, China and even India, more values are being placed on Economist and the outcome of this is evident in the growth of their various economies. In Nigeria today, the aforementioned are virtually not available. Economists are not placed in the scheme of things. Government do not sponsor research works and Economist are rarely consulted to provide recommendations for solving economic problems. If the Nigerian Government is set out to achieve growth and development in due course then there must be a recognition of the immense contributions of Economist to national development. In conclusion, for Nigeria to continue growing, there is a need to increase the participation of Economist in every sectors of the economy. Also, considering the relevance of Economist both to economic growth and development of any nation, concerted effort should be made across all the levels of government (both at the federal, state or local level) in ensuring that economists are brought to the fore of every policy decision. In doing these, the inputs required to build a virile nation based on strong and enduring economic policy are met.
abidemivic@gmail.com
The world is rapidly moving towards an economic system that is based on the continuous application of economic analysis to real world issues, as such the role of Economist all over the world is increasingly becoming important and vital to the growth of any nation. In the US for example, Economist typically do the following: Research and analyze economic issues Conduct surveys and collect data Analyze data using mathematical models and statistical techniques Prepare reports, tables and charts that present research results Interpret and forecast market trends Advise businesses, governments and individuals o economic topics Design policies or make recommendations for solving economic problems Write articles for publication in academic journals and other media sources While doing all these,
Economist in the US earn an annual average income of about $91,860 with nearly half of them working across the Federal, state and local government. They usually help collect and analyze data about US economy including employment, prices, productivity and wages among other types of data. They also project spending needs and inform policy makers on the economic impact of laws and regulations. These and many more are what Economist do in the US. In UK, France, Japan, China and even India, more values are being placed on Economist and the outcome of this is evident in the growth of their various economies. In Nigeria today, the aforementioned are virtually not available. Economists are not placed in the scheme of things. Government do not sponsor research works and Economist are rarely consulted to provide recommendations for solving economic problems. If the Nigerian Government is set out to achieve growth and development in due course then there must be a recognition of the immense contributions of Economist to national development. In conclusion, for Nigeria to continue growing, there is a need to increase the participation of Economist in every sectors of the economy. Also, considering the relevance of Economist both to economic growth and development of any nation, concerted effort should be made across all the levels of government (both at the federal, state or local level) in ensuring that economists are brought to the fore of every policy decision. In doing these, the inputs required to build a virile nation based on strong and enduring economic policy are met.
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