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Best professional certification for Economists

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Which are the best certifications for economists? There are over 100 professional certificates for business related courses but only a few are suitable for economists.

The work of an economist is typically do research and analyze economic issues. … Analyze data using mathematical models and statistical techniques. Prepare reports, tables, and charts that present research results. Based on these roles, there are specific professional certifications that can match academic qualifications.

If you are an economist or you are already enrolled in college, here is a list of best professional certifications to pursue.

  1. CERTIFIED FINANCIAL PLANNER

Certified Financial Planner is a top certification for people who love mathematics. Economists are the most ideal professionals to pursue the program.

HOW TO BECOME A CFP

Initial Certification

To become certified, you are required to meet the following initial certification requirements (known as the four “Es”):

  • Education
  • Examination
  • Experience
  • Ethics

These four components are briefly described below; subsequent sections of this Guide to CFP® Certification provide detailed information about each component. While the CFP® certification requirements may be changed from time to time, you will be expected to meet the requirements that are in place at the time you apply for the CFP® Certification Examination.

Education

The first step to CFP® certification is to acquire the knowledge required to deliver professional, competent and ethical financial planning services to clients, as outlined in the major personal financial planning topic areas identified by CFP Board’s most recent Job Analysis Study (See the list of Principal Topics). CFP Board’s coursework component requires the completion of a college-level program of study in personal financial planning, or an accepted equivalent (through Challenge Status or Transcript Review), including completion of a financial plan development (capstone) course registered with CFP Board. You must also have earned a bachelor’s degree (or higher) from a regionally-accredited college or university in order to obtain CFP® certification. The bachelor’s degree requirement is a condition of initial certification; however, it is not a requirement to be eligible to take the CFP® Certification Examination and does not need to be met before registering for the examination. CFP Board does not grant equivalencies or exceptions to the bachelor’s degree education requirement.

Examination

After you have successfully met the education coursework requirement, you will be eligible to register for the CFP® Certification Examination. The CFP® Certification Examination assesses your ability to apply your financial planning knowledge, in an integrated format, to financial planning situations (See the Principal Knowledge Topics). Combined with the education, experience, and ethics requirements, it assures the public that you have met a level of competency appropriate for professional practice.

Experience

Because CFP® certification indicates to the public your ability to provide financial planning without supervision, CFP Board requires you to have 6,000 hours of experience through the Standard Pathway, or 4,000 hours of experience though the Apprenticeship pathway that meets additional requirements. Qualifying experience may be acquired through a variety of activities and professional settings including personal delivery, supervision, direct support, indirect support or teaching.

Ethics

CFP® professionals agree to adhere to the high standards of ethics and practice outlined in CFP Board’s Standards of Professional Conduct and to acknowledge CFP Board’s right to enforce them through its Disciplinary Rules and Procedures. When you have completed the education, examination and experience components of the CFP® certification process, you will be directed to complete a CFP® Certification Application on which you will be asked to disclose information about your background, including your involvement in any criminal, civil, governmental, or self-regulatory agency proceeding or inquiry, bankruptcy, customer complaint, filing, termination/internal reviews conducted by your employer or firm. CFP Board conducts a detailed background check for all candidates, including review of any disclosures made on the CFP® Certification Application. Matters that may or will bar you from obtaining certification are investigated in accordance with CFP Board’s Disciplinary Rules and Procedures. Authorization to use the CFP® marks will not be approved until the background check and any investigation are concluded successfully.

  1. CHARTERED FINANCIAL ANALYST

The second most suitable professional course is Chartered Financial Analyst. This program, though tough, has amazing results for economists, especially those working for investment banks.

he CFA Program includes a series of three exams; Levels I, II, and III. The exams:

  • Are offered annually — at test centers around the world — in June. The Level I exam is also offered in December.
  • Must be passed sequentially.
  • Are available in English only.

The exam content, learning focus, and question format increase in complexity with each level.

Curriculum Content and Learning Focus

An example showing the increase in complexity is the ethical and professional standards curriculum content. This content is similar for each exam level; however, candidates are asked different types of questions:

  • Level I tests your knowledge of the ethical and professional standards.
  • Level II tests how you apply those standards to situations analysts face.
  • Level III tests how you apply the standards in a portfolio management and compliance context.

In general:

  • Level I exams consist of basic knowledge and comprehension questions focused on investment tools; some questions will require analysis.
  • Level II exams emphasize more complex analysis, along with a focus on valuing assets.
  • Level III exams require synthesis of all the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning.
  1. CERTIFIED BUSINESS ECONOMIST

Certified Business Economist also ranks among the best certification for Economists. The CBE is designed by leaders in the economics profession as a means to fill the considerable gap that exists between an academic education in economics and the skills and knowledge required for a successful career as a practitioner.

How to become a CBE?

Candidates must meet the following requirements*:

  • Examination.  Candidates must pass a comprehensive practical examination.
  • Member. Be a member in good standing with NABE.
  • Experience.  Candidates must have two years of work experience in applied business economics or in a related field.
  • Education.  Candidates must attain  at least a four-year degree.
  • Curriculum Requirements.  Candidates must complete NABE’s Communication and Presentation Skills for Business Economists and Writing Skills for Business Economists certificate courses or courses deemed equivalent by NABE.
  • Ethics.  Candidates must review and adhere to the NABE Professional Conduct Guideline.
  • Continuing Education/Renewal.  Designees may renew their CBE by completing 30 hours of continuing education every two years and paying a renewal fee.
  1. CERTIFIED INTERNATIONAL INVESTMENT ANALYST

Established in 2000, ACIIA is the international umbrella organisation for National and regional associations of investment professionals representing over 60’000 portfolio managers, analysts, investment advisers, asset managers and fund managers etc worldwide. Its role is to provide a flexible, internationally recognised qualification – Certified International Investment Analyst CIIA – which examines candidates at a high standard and in a practical fashion in the global and local topic areas that are necessary to pursue a career in the investment profession. In doing so, it strives to:

  • Encourage and provide a forum for the creation and interchange of ideas and information in the finance and investment field
  • Support and promote the interests of the investment community
  • Promote ethical behaviour in the industry.

Since its inauguration, ACIIA membership has grown to thirty five associations worldwide. The members are spread throughout Asia, Europe, South America, Africa and encompass a wide variety of languages, cultures and business customs.

If you are an economist, you will be required to pursue CIIA DIPLOMA, after which you become a Certified International Investment Analyst CIIA®

If you want to be an auditor, these are the best professional certifications to pursue:

  1. ACCA
  2. Certified Internal Auditor
  3. Certified Fraud Examiner
  4. Certified Financial analyst