Top 10 Economist Certifications

Certifications are an important way for economists to demonstrate their expertise and qualifications in the job market. They show potential employers that an economist has taken the time to become knowledgeable and proficient in a particular area of economics. Certifications provide evidence of an economist’s knowledge and experience, as well as demonstrate their commitment to the profession. This can make them more attractive to potential employers who may be looking for economists with specific skills or knowledge. Additionally, certifications can help economists stand out from other candidates when applying for jobs, as they often signify a higher level of knowledge or proficiency than those without certifications.

This article reviews some of the top certifications for Economists and explains how they can help to advance an economist's career.

What are Economist Certifications?

Economist certification is a professional designation for economists that is recognized by the National Association for Business Economics (NABE). This certification demonstrates to employers, peers, and clients that an individual has achieved a high level of proficiency in the field of economics. It also serves as a benchmark for those seeking to gain expertise in economics and provides a way to measure the overall knowledge and experience of an economist.

Economist certification can help individuals get better jobs and higher salaries as employers often prefer certified applicants over non-certified applicants. It also serves as a way to differentiate oneself from other economists with similar qualifications. Moreover, it can be used as a tool to assess an individual’s ability to understand complex economic concepts and apply them in real-world situations. Furthermore, it provides recognition among peers that an individual has achieved a certain level of excellence in the field of economics. Finally, economist certification can help individuals stay up-to-date on current trends in economics and give them access to exclusive resources and networks within the profession.

Pro Tip: To increase your chances of success when taking an economist certification exam, make sure to read up on the material ahead of time and practice past exam questions. Doing so will help you become familiar with the types of questions you'll face on the test, as well as brush up on key concepts that may be tested.

Related: What does an Economist do?

Top 10 Economist Certifications

Here’s our list of the best certifications available to Economists today.

1. Chartered Financial Analyst (CFA)

Chartered Financial Analyst (CFA) is a professional designation given by the CFA Institute, a global association of investment professionals. The CFA designation is widely recognized as the highest standard of excellence in investment management and financial analysis. It is earned after completing a rigorous program of study, passing three levels of exams, and meeting other requirements such as having four years of qualified work experience in the field.

It typically takes 3-4 years to complete all three levels of the CFA exam, depending on how quickly you can study and pass each level. To become a CFA charterholder, you must first meet the eligibility requirements set out by the CFA Institute. These include having a bachelor’s degree or equivalent education, four years of qualified work experience in an investment decision-making role, and passing all three levels of the CFA exam.

The cost to become a CFA charterholder varies depending on your location and whether you are studying for Level I, II or III exams. Generally speaking, it will cost around $2,000-$3,000 USD to complete all three levels of the exam. This includes registration fees for each level ($450-$750 USD), study materials ($400-$1,200 USD), review courses ($500-$1,500 USD) and other related costs such as travel expenses for attending review courses or taking practice tests.

2. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation that is given to individuals who have met the education, examination, experience and ethics requirements set by the Certified Financial Planner Board of Standards. CFPs are qualified professionals who provide financial advice and guidance to individuals and families on how to manage their finances.

It typically takes three years to become a CFP. To obtain the certification, an individual must complete a program of study approved by the CFP Board and pass a comprehensive exam covering topics such as investments, retirement planning, estate planning, insurance planning and tax planning. In addition, they must also have at least three years of full-time financial planning experience or equivalent part-time experience.

The cost for obtaining a CFP certification varies depending on the program chosen. Generally speaking, it can range from $3,000 - $5,000 for tuition fees alone. Other costs may include registration fees for the exam ($695), study materials ($100-$500), and other miscellaneous expenses such as travel costs for attending classes or workshops.

3. Chartered Economist (CE)

Chartered Economist (CE) is a professional qualification awarded by the Chartered Institute of Economics and Social Science (CIES). It is an internationally recognized mark of excellence for economists, demonstrating their commitment to the highest standards of professional practice. The Chartered Economist designation is held by those who have achieved a high level of proficiency in economics and the social sciences.

To become a Chartered Economist, applicants must meet certain criteria such as having a degree in economics or related field, at least five years of relevant work experience, and passing a rigorous assessment process. The assessment consists of written tests, interviews and practical exercises.

The process to become a Chartered Economist typically takes between one and two years depending on the applicant’s prior qualifications and experience. Applicants must first submit an application form to CIES which includes details about their educational background, work experience and other relevant information. Once accepted into the program, applicants must then complete all required tests and assessments before they can be awarded the CE designation.

The cost to become a Chartered Economist varies depending on country but typically ranges from $500-$1000 USD plus any additional fees associated with taking exams or assessments.

4. Certified International Investment Analyst (CIIA)

The Certified International Investment Analyst (CIIA) is a professional designation awarded by the Association of Certified International Investment Analysts (ACIIA). It is designed to recognize individuals who demonstrate a high level of knowledge and expertise in the field of international investment analysis. CIIA holders are expected to have a comprehensive understanding of global markets, financial instruments, portfolio management, and risk management principles.

It typically takes between six months to one year to complete the CIIA program. The program consists of three levels: Level I, Level II, and Level III. Each level requires passing an exam that covers topics such as economics, finance, accounting, mathematics, statistics, and international investments. In addition to passing the exams, applicants must also demonstrate experience in the field through work or internships.

To get the CIIA certification, applicants must first register with ACIIA and submit an application form along with supporting documents such as transcripts or proof of relevant work experience. Once approved for admission into the program, applicants will be required to pay a registration fee and tuition fees for each level they wish to pursue. The total cost for all three levels ranges from $2,000 - $3,500 USD depending on location and other factors.

5. Chartered Institute of Management Accountants (CIMA)

The Chartered Institute of Management Accountants (CIMA) is an internationally recognized professional accounting body that specializes in management accounting. It offers the Chartered Global Management Accountant (CGMA) qualification, which is a globally-recognized credential for management accountants.

It typically takes three to five years to obtain the CGMA qualification, depending on the individual's experience and qualifications. To get started with CIMA, you will need to pass the CIMA Gateway Exam, which covers financial reporting and analysis, strategic business management and organizational leadership. After passing this exam, you can then move onto studying for the Professional Qualification exams. These exams are divided into three levels: Operational Level, Management Level and Strategic Level. Each level requires passing four exams in order to be awarded the CGMA designation.

The cost of obtaining the CGMA qualification varies depending on your country of residence and other factors such as how quickly you complete each level or if you take any additional courses or exams. Generally speaking, it can cost anywhere from $2,000-$4,000 USD to complete all three levels of exams and obtain the CGMA designation.

6. Certified Management Accountant (CMA)

Certified Management Accountant (CMA) is a professional designation awarded by the Institute of Management Accountants (IMA). The CMA credential is designed to demonstrate an individual’s knowledge and expertise in management accounting, financial planning and analysis, budgeting, cost management, decision support, and internal controls. The CMA certification is recognized worldwide as the premier certification for management accountants.

It typically takes about 18-24 months to complete the CMA program. To become certified, candidates must first pass two exams: the CMA Part 1 exam and the CMA Part 2 exam. Both exams are administered by Prometric Testing Centers. After passing both exams, candidates must submit an application to IMA for review and approval in order to receive their official CMA certification.

The cost of becoming a Certified Management Accountant varies depending on your country of residence and other factors such as the number of study materials you purchase or if you choose to take any prep courses or seminars. Generally speaking, it costs around $1,000-$2,000 USD to become a certified CMA. This includes registration fees for both exams ($415 USD each), study materials ($400-$500 USD), and other miscellaneous expenses such as travel costs for attending seminars or taking practice tests ($100-$200 USD).

7. Certified Public Accountant (CPA)

Certified Public Accountant (CPA) is a professional designation given to individuals who have passed the Uniform CPA Examination and met other state-specific requirements. CPAs are licensed by their respective state boards of accountancy and must adhere to the ethical standards set forth by the American Institute of Certified Public Accountants (AICPA).

It typically takes four years of college education, including 150 semester hours of coursework, to become eligible to sit for the Uniform CPA Exam. Most states also require applicants to have two years of relevant accounting experience prior to becoming eligible.

To become a CPA, you must first meet your state’s educational and experience requirements. Once these requirements are met, you can apply for the Uniform CPA Exam through your state board of accountancy. The exam consists of four sections: Auditing & Attestation; Financial Accounting & Reporting; Regulation; and Business Environment & Concepts. To pass the exam, you must receive a score of at least 75 on each section.

The cost for taking the Uniform CPA Exam varies by state. Generally speaking, it costs around $800-$1,000 per section or $3,200-$4,000 in total for all four sections. Additionally, most states charge an application fee ranging from $50-$150 when applying for the exam.

8. Chartered Professional in Human Resources (CPHR)

Chartered Professional in Human Resources (CPHR) is a professional designation for individuals who have met the highest standards of excellence in the field of human resources. It is awarded by the Human Resources Professionals Association (HRPA) and is recognized across Canada.

The CPHR designation requires applicants to demonstrate their knowledge, skills and experience in a variety of areas related to human resources management, including: recruitment, selection, compensation and benefits, labour relations, organizational development and training. Applicants must also demonstrate their commitment to ethical practice and professional development.

It typically takes two years to obtain the CPHR designation. To get started, applicants must first become a member of HRPA. They then need to complete an accredited post-secondary program in human resources or take HRPA’s Chartered Professional in Human Resources Bridging Program. Once they have completed either option, applicants must pass the three-hour CPHR exam administered by HRPA.

The cost of obtaining the CPHR designation depends on whether you are an HRPA member or not. For non-members, it costs $1,100 plus applicable taxes for the application fee and exam fee combined. For members, it costs $800 plus applicable taxes for the same fees combined.

9. Certified Business Economist (CBE)

Certified Business Economist (CBE) is a professional certification program offered by the National Association for Business Economics (NABE). The CBE credential is designed to recognize and reward those who have achieved a high level of expertise in business economics.

To become a CBE, one must pass an exam administered by NABE. The exam consists of two parts: the Core Exam and the Specialty Exam. The Core Exam covers topics such as macroeconomics, microeconomics, statistics, finance, accounting, and business law. The Specialty Exam focuses on specific areas of business economics such as forecasting, economic policy analysis, international economics, or labor economics.

The entire process from application to certification can take up to six months depending on when you submit your application and how quickly you complete the exams.

The cost of becoming a CBE depends on whether you are a member of NABE or not. For non-members, the total cost will be $1,000 for both exams plus an additional $100 for processing fees. For NABE members, the total cost is $750 for both exams plus an additional $50 for processing fees.

In addition to passing the exams, candidates must also meet certain requirements regarding education and experience in order to qualify for certification. Candidates must have completed at least three years of full-time work experience in business economics or related fields within the past five years prior to submitting their application. They must also hold at least a bachelor’s degree in economics or related field from an accredited college or university.

10. Master of Economics (MECON or MEcon)

Master of Economics (MECON or MEcon) is a graduate degree program that focuses on the study of economic theory and its application to real-world problems. It is designed for students who want to gain an advanced understanding of economics and its related fields, such as finance, public policy, and international trade. The program typically takes two years to complete and includes courses in microeconomics, macroeconomics, econometrics, economic history, and other related topics.

To get a Master of Economics degree, you must have completed an undergraduate degree in economics or a related field. You will also need to take the Graduate Record Exam (GRE) or another standardized test approved by the school you are applying to. After completing your undergraduate studies, you will need to apply to a master's program at an accredited university or college. Once accepted into the program, you will be required to complete coursework that covers topics such as economic theory and analysis, quantitative methods in economics, public policy analysis, financial markets and institutions, international economics, and more.

The cost of getting a Master of Economics varies depending on the school you attend. Generally speaking, tuition costs range from $15000-$30000 per year for full-time students; however this can vary significantly depending on the school you choose. Additionally some schools may offer scholarships or grants that can help offset these costs.

In conclusion, getting a Master of Economics is an excellent way to gain an advanced understanding of economics and its related fields. It typically takes two years to complete the program and requires applicants to have completed an undergraduate degree in economics or a related field as well as taking the GRE or another standardized test approved by the school they are applying to. The cost of getting this degree can range from $15000-$30000 per year depending on the school chosen; however some schools may offer scholarships or grants that can help offset these costs.

Do You Really Need a Economist Certificate?

The answer to this question depends on your individual goals and circumstances. If you are looking to pursue a career in economics, then an economist certificate is likely to be beneficial. The certificate will demonstrate that you have the necessary skills and knowledge to succeed in the field. Additionally, having a certificate can help you stand out from other applicants when applying for jobs or promotions.

On the other hand, if you simply want to gain a better understanding of economic principles and theories for personal interest or research purposes, then an economist certificate may not be necessary. There are many resources available online and in libraries that can provide you with the same information as a certificate program would. Furthermore, if you already have a degree in economics, then an additional certification may not be necessary either.

Ultimately, it is up to you to decide whether or not an economist certificate is right for you. Consider your goals and objectives carefully before making any decisions about pursuing one.

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FAQs About Economist Certifications

Q1. What is an Economist Certification?

A1. An economist certification is a professional designation awarded by a recognized body to signify that the individual has demonstrated a high level of knowledge and proficiency in the field of economics. It is typically earned after completing an intensive training program or passing an examination that covers topics such as macroeconomics, microeconomics, international economics, public finance, and econometrics.

Q2. How do I get certified as an economist?

A2. To become certified as an economist, you must complete a program offered by a recognized body in economics or pass an examination related to economics. Depending on the institution offering the certification program or exam, you may need to have certain educational qualifications or experience in order to be eligible for certification.

Q3. What are the benefits of becoming a certified economist?

A3. Being certified as an economist can give individuals more credibility when applying for jobs or pursuing higher-level positions within their field. Additionally, employers may view those who are certified as having more specialized skills and knowledge than those without certifications. This can help make individuals more competitive in the job market and increase their chances of getting hired for positions they are qualified for.

Q4. How long does it take to become certified as an economist?

A4. The amount of time it takes to become certified as an economist will depend on the specific requirements of each certification program or exam taken, but generally speaking it can take anywhere from one year up to several years depending on prior education and experience levels in economics-related fields.

Q5. Is there any continuing education requirements after obtaining my economist certification?

A5: Yes, depending on your institution's requirements you may need to complete continuing education courses in order to maintain your certification status over time so it is important to check with your institution what their specific continuing education requirements are prior to obtaining your certification if this is something you are interested in pursuing further down the line!