Professor of Economics

University professors prepare course materials and teach it to undergraduate and graduate students of degree granting institutions. Professors may teach courses in lecture, seminar, laboratory or field study formats. University professors usually conduct research.
Professors are:

  • Responsible to a Department Chair or other appropriate administrator of a State university
  • Responsible for teaching, research, service, and related administrative activities

Sample Companies:


Some of the institutions hiring are:

  • Public colleges
  • Private colleges
  • Community colleges



Using the Economics Department at the University of Illinois at Urbana-Champaign as an example, the starting salary for Senior Lecturers in is $80,000. The starting salary for Assistant Professors is about $130,000 and is $140,000 for Associate Professor. Professor salaries in the department range from $173,000 to $401,680.

How to get there:

In order to become a full Professor in Economics, a PhD degree in Economics is required. It usually takes 6 years to complete the program. To be able to succeed in the PhD program, strong mathematic and economics background are needed. For that reason, a double major in Mathematics and Economics is recommended although not required.
Major colleges and universities require applicants for Professor positions to have spent a certain number of years working as a teaching assistant before applying for the job. Moreover, research experience is important, as the publication of research papers in journals and books are valued.

Important Qualities:

  • Excellent verbal communication skills, both for lecturing and communicating with colleagues
  • Excellent writing skills, for publishing research and analysis
  • Excellent organizational and time management skills
  • An aptitude for research
  • Able to effectively evaluate student progress


Professor's Duties:

  • Teach one or more courses to undergraduate and graduate students
  • Prepare course materials
  • Assign, review, and evaluate coursework and examinations
  • Conduct research in chosen field of specialization and publish findings in scholarly journals or books
  • May act as a consultant to government agencies, private individuals, industry, and other organizations
  • Direct research programs of graduate students

Relevant Classes:

  • Composition I and Advanced Composition/Writing
  • CMN 101- Public Speaking
  • CMN 211- Business Communication
  • ECON 302- Microeconomic Theory
  • ECON 303- Macroeconomic Theory
  • ECON 471- Intro to Applied Econometrics
  • *Actuarial Courses (MATH & FIN)

Relevant Clubs & Organizations:


  • Golden Apple - Illini
  • Epsilon Delta Professional Teaching Organization
  • Econ Club
  • Econ Ambassadors




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