What educational attainment level is typically required for high-paying roles within the field of Economics, as opposed to entry-level positions?
Answer
A Master's degree or a Ph.D. in economics.
Economists apply analytical skills to study large-scale processes like production and consumption, often specializing in areas such as banking or international trade to forecast trends. While the barrier to entry for basic economic roles might be satisfied with a bachelor's degree, the text clearly indicates that securing the higher-paying economist positions—those involving significant strategic decision-making influence—usually necessitates a more advanced educational credential, specifically requiring either a Master's degree or a Ph.D. in economics.
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