Chapter 16 - Assignment 1: The Market Price of an Economist
Examine the description of job prospects for economists and market analysts provided by the Bureau of Labor Statistics.
- The section of this document entitled "Earnings" lists average salaries for economists by
type of occupation and by level of educational attainment. Do you think that these salary
differentials are a form of compensating wage differential? Explain.
- Contrast the earnings prospects and job duties of individuals in this occupation with the
earnings prospects and job duties of one of the "related occupations" listed in the bottom of
the document. Using the discussion of alternative reasons for salary differentials that appears
in your text, formulate an explanation for the differences in average starting salaries between
these markets.
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