Career Development Grid

If you are interested in becoming an economics teacher at the postsecondary level, you will need to have a strong background in economics and education. In Nigeria, to embark on this career path, you will need to obtain a bachelor’s degree in economics or a related field, followed by a master’s or doctoral degree in economics. You will also need to obtain a teaching certificate or license to work as a teacher in Nigeria.
Typical job duties and responsibilities of someone in this career include preparing and delivering lectures, developing course materials, grading assignments and exams, advising and mentoring students, conducting research and publishing academic papers, and participating in departmental and university committees.
The earning potential in this career can vary depending on the level of education and experience. In the short term, postsecondary teachers can earn an average salary of ₦150,000 to ₦300,000 per month. In the long term, with experience and advancement, the earning potential can increase to ₦500,000 or more per month.
Opportunities for career advancement in this field include promotion to department chair or dean, obtaining tenure, and becoming a respected researcher in the field.
The biggest challenges facing people in this career include keeping up with changes in the field, managing a heavy workload, and dealing with difficult students or colleagues. To overcome these challenges, it is important to stay up-to-date with current research and trends in the field, manage time effectively, and develop strong communication and conflict resolution skills.
The best ways to gain experience and build a network in this field include completing internships, conducting research with professors, attending conferences and workshops, and networking with other professionals in the field.
The current job prospects for this career are good, as there is a growing demand for qualified economics teachers at the postsecondary level. However, competition for positions can be strong, especially at prestigious universities.
The most important skills or qualities someone needs to succeed in this career include strong analytical and critical thinking skills, effective communication skills, a passion for teaching and learning, and a commitment to staying up-to-date with current research and trends in the field.
The different sectors or industries where this career is in demand include universities, colleges, and other postsecondary institutions, as well as research institutions and think tanks.
Common misconceptions people have about this career include that it is easy and requires little work, and that it is only for those who want to pursue an academic career. The reality is that being an economics teacher at the post

To become an economics teacher at the postsecondary level, you typically need to have a graduate degree in economics or a related field, such as business or finance. This usually means earning a master’s or doctoral degree in economics or a related field. In addition to formal education, you may also need to have some teaching experience, either as a teaching assistant or as a primary instructor in a lower-level course.
To be successful in this career, you will need to have a strong understanding of economic theory, as well as the ability to communicate complex concepts to students in a clear and engaging way. You should also be comfortable with public speaking and have strong interpersonal skills, as you will be working closely with students and colleagues on a regular basis. Finally, you may need to have some research experience or a record of publications in order to be considered for certain positions, particularly at more research-focused institutions.

Economics teachers at the postsecondary level typically have the following job duties and responsibilities:
1. Develop and deliver course lectures and materials: Economics teachers design and deliver course lectures, develop course materials, and prepare assignments, tests, and exams.
2. Grade student work: They evaluate student work, provide feedback, and assign grades.
3. Conduct research: They conduct research in their area of expertise and publish scholarly articles and books.
4. Advise students: They provide academic and career advice to students and help them plan their academic and professional goals.
5. Participate in departmental and university activities: They participate in departmental and university committees, attend meetings, and engage in academic and professional development activities.
6. Collaborate with other faculty members: They collaborate with other faculty members to develop interdisciplinary courses and research projects.
7. Keep up-to-date with current events and trends: They stay informed about current events and trends in economics and related fields.
8. Attend conferences and workshops: They attend conferences and workshops to present their research, learn about new developments in the field, and network with other professionals.
9. Serve as mentors: They serve as mentors to undergraduate and graduate students, providing guidance and support as they pursue their academic and professional goals.
10. Engage in community outreach: They engage in community outreach activities, such as giving public lectures and participating in community events, to promote the study of economics and its importance in society.

The earning potential for Economics Teachers, Postsecondary can vary depending on factors such as their educational qualifications, experience, location, and the type of institution they work for.
In the short term, postsecondary teachers typically earn a median salary of around $79,540 per year according to the U.S. Bureau of Labor Statistics. However, entry-level teachers may earn less than this amount.
In the long term, experienced and highly qualified Economics Teachers, Postsecondary can earn a significantly higher salary. The top 10% of postsecondary teachers in this field earn more than $174,960 per year. Additionally, those who publish research papers or books may earn additional income from royalties and other sources.
It’s important to note that earning potential can also vary depending on the demand for economics courses and the availability of teaching positions. However, overall, Economics Teachers, Postsecondary can earn a comfortable salary in both the short and long term.

The opportunities for career advancement for postsecondary economics teachers are generally quite good. Some potential paths for advancement include:
1. Tenure: After several years of teaching and demonstrating excellence in their field, postsecondary economics teachers may be eligible for tenure, which provides job security and a higher salary.
2. Department Chair: Some postsecondary institutions have department chairs who oversee the economics department. Economics teachers who demonstrate strong leadership skills and a commitment to the department’s success may be considered for this role.
3. Dean or Provost: Economics teachers may also be considered for administrative roles such as dean or provost, which involve overseeing multiple departments and working closely with other university leaders.
4. Research and Publishing: Many postsecondary economics teachers engage in research and publishing, which can lead to increased recognition and opportunities for advancement within the academic community.
5. Consulting and Industry: Some economics teachers may choose to leave academia and work in consulting or industry, using their expertise to advise businesses and organizations on economic issues. This can lead to higher salaries and opportunities for advancement in these fields.

The biggest challenges facing people in the career of postsecondary economics teachers are:
1. Keeping up with the latest developments: Economics is a constantly evolving field, and staying up-to-date with the latest research and trends can be a challenge. To overcome this challenge, teachers need to make a conscious effort to attend conferences, read academic journals, and collaborate with colleagues in their field.
2. Engaging students: Economics can be a complex and abstract subject, and engaging students can be a challenge. To overcome this challenge, teachers need to find creative ways to make the subject matter relevant and interesting to their students. This can include using real-world examples, incorporating multimedia, and encouraging student participation.
3. Managing workload: Postsecondary teachers often have multiple responsibilities, including teaching, research, and administrative duties. Balancing these responsibilities can be a challenge, especially during busy periods such as exam season. To overcome this challenge, teachers need to prioritize their workload and develop effective time-management strategies.
4. Dealing with diverse student populations: Postsecondary economics teachers often work with students from diverse backgrounds and with varying levels of prior knowledge. This can make it challenging to create a learning environment that is inclusive and effective for all students. To overcome this challenge, teachers need to be aware of their students’ needs and adapt their teaching methods accordingly.
Overall, the key to overcoming these challenges is to be proactive and adaptable. Successful economics teachers need to be committed to ongoing professional development, willing to experiment with different teaching methods, and able to manage their workload effectively.

Here are some ways to gain experience and build a network in the field of Economics teaching at the postsecondary level:
1. Pursue higher education: Obtaining a Master’s degree or a Ph.D. in Economics or a related field can provide a strong foundation for a career in postsecondary teaching. This will also allow you to build connections with professors, researchers, and fellow students in the field.
2. Attend conferences and workshops: Attending conferences and workshops related to Economics teaching can provide opportunities to network with other professionals in the field and learn about new teaching strategies and research.
3. Participate in teaching assistantships: Teaching assistantships can provide valuable experience in teaching and mentoring undergraduate students. This can also help you build relationships with professors and other teaching assistants.
4. Publish research papers: Publishing research papers in academic journals can help establish your expertise in the field of Economics and increase your visibility among other professionals in the field.
5. Join professional organizations: Joining professional organizations such as the American Economic Association can provide opportunities to network with other professionals in the field, attend conferences and workshops, and access resources related to Economics teaching.
6. Seek out mentorship: Finding a mentor who is an experienced Economics teacher can provide guidance and support as you navigate your career in the field. This can also provide opportunities to build relationships with other professionals in the field through your mentor’s network.

The job prospects for postsecondary economics teachers are generally good, as there is a consistent demand for qualified individuals to teach economics at the college and university level. According to the Bureau of Labor Statistics, employment of postsecondary teachers is projected to grow 9 percent from 2019 to 2029, which is faster than the average for all occupations.
The demand for economics teachers may vary depending on the level of education and the geographic location. For example, universities and colleges in urban areas may have more job openings than those in rural areas. Additionally, the demand for economics teachers may be affected by changes in enrollment, funding, and government policies.
In terms of the future, the job prospects for postsecondary economics teachers are expected to remain stable, as the demand for higher education and the need for qualified teachers continues to grow. However, the increasing use of online education and distance learning may also impact the job market for postsecondary teachers in the coming years. Overall, individuals with a strong background in economics and teaching experience should have good job prospects in this field.

To succeed as an Economics Teacher in a postsecondary setting, the following skills and qualities are important:
1. Strong knowledge of economics: As an economics teacher, you need to have a deep understanding of economic theories, principles, and concepts to effectively teach and explain them to your students.
2. Excellent communication skills: You need to be able to communicate complex economic concepts in a clear and concise manner, both verbally and in writing, to engage and inspire your students.
3. Passion for teaching: A love for teaching and a desire to help students learn and grow is essential for success as an economics teacher.
4. Patience and empathy: You need to be patient and empathetic towards students who may struggle to grasp difficult economic concepts, and be willing to work with them until they understand.
5. Organizational skills: You need to be able to plan and organize your lessons effectively, prepare course materials, and manage your time efficiently.
6. Analytical skills: You need to be able to analyze economic data and research to stay up-to-date with the latest developments in the field and to incorporate them into your teaching.
7. Interpersonal skills: You need to be able to build strong relationships with your students, colleagues, and other professionals in the field to enhance your teaching and research capabilities.

The demand for postsecondary economics teachers exists in various sectors and industries. Some of the sectors where economics teachers are in demand include:
1. Education Sector: The education sector, including universities, colleges, and vocational schools, is the primary employer of postsecondary economics teachers.
2. Government: The government, including federal, state, and local governments, often employs economics teachers to provide training and education to government employees.
3. Financial Services: Financial services firms, including banks, investment firms, and insurance companies, may hire economics teachers to provide training to their employees.
4. Non-profit Organizations: Non-profit organizations, including think tanks and research organizations, may employ economics teachers to conduct research and provide education on economic issues.
5. Consulting Firms: Consulting firms may hire economics teachers to provide expert advice and analysis to their clients on economic issues.
6. Media: Media outlets, including newspapers, magazines, and television networks, may hire economics teachers as commentators or analysts to provide expert opinions on economic issues.

Misconception: Economics teachers only teach about money and finance.
Reality: While economics teachers do cover topics related to money and finance, their curriculum goes beyond that. They teach about various economic theories, principles and concepts that are applicable to different aspects of our lives. For example, they may teach about supply and demand, market structures, international trade, and economic development. Their lessons may also cover topics such as environmental economics, social welfare, and inequality.
Misconception: Economics teachers only teach to students who want to pursue a career in economics.
Reality: Economics teachers may have students who are interested in pursuing careers in economics, but they also teach to students who may not have an interest in economics as a career. Their lessons are relevant to students who want to pursue careers in business, law, public policy, and other social sciences. Economics concepts are also applicable to our everyday lives, such as understanding the impact of taxes, inflation, and interest rates on our personal finances.
Misconception: Economics teachers only teach in colleges and universities.
Reality: While many economics teachers do work in colleges and universities, there are also opportunities to teach in high schools, community colleges, and vocational schools. Some economics teachers may also work in non-profit organizations, government agencies, or research institutions, where they use their understanding of economics to analyze data and make policy recommendations.