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Applied Economics information

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$82.1K

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How much do applied economics jobs pay per year?

As of Jun 1, 2026, the average yearly pay for applied economics in the United States is $82,064.00, according to ZipRecruiter salary data. Most workers in this role earn between $69,000.00 and $98,500.00 per year, depending on experience, location, and employer.

What is an Applied Economics job?

An Applied Economics job involves using economic theories, data analysis, and statistical methods to solve real-world problems in industries such as finance, healthcare, government, and consulting. Professionals in this field analyze market trends, evaluate policies, forecast economic outcomes, and provide data-driven recommendations to businesses or policymakers. These roles often require strong analytical skills, proficiency in econometrics, and expertise in using economic models to inform decision-making.

What are the key skills and qualifications needed to thrive in the Applied Economics position, and why are they important?

To thrive in Applied Economics, a strong background in economic theory, quantitative analysis, and statistical modeling is essential, typically supported by a relevant degree such as economics, mathematics, or statistics. Proficiency with statistical software tools like Stata, R, SAS, or Python, and sometimes certifications in data analysis, are highly valued. Outstanding analytical thinking, problem-solving abilities, and clear communication skills help distill complex data into actionable insights for both technical and non-technical audiences. Mastery of these skills enables professionals to provide evidence-based recommendations that drive real-world business or policy decisions.

What are the typical projects or responsibilities for someone working in Applied Economics?

Professionals in Applied Economics often focus on projects that use data analysis and economic modeling to solve real-world problems, such as forecasting market trends, evaluating public policies, or advising businesses on strategic decisions. Day-to-day tasks might include gathering and cleaning large datasets, conducting econometric analysis, preparing reports, and presenting findings to stakeholders. Collaboration with interdisciplinary teams such as data scientists, business strategists, or policymakers is common to ensure accurate interpretation and implementation of results. This role offers excellent opportunities for career growth, as applied economists are in high demand across sectors like finance, government, consulting, and research institutions.
What cities are hiring for Applied Economics jobs? Cities with the most Applied Economics job openings:
What states have the most Applied Economics jobs? States with the most job openings for Applied Economics jobs include:
Infographic showing various Applied Economics job openings in the United States as of May 2026, with employment types broken down into 1% Internship, 89% Full Time, 9% Part Time, and 1% Contract. Highlights an 90% Physical, 3% Hybrid, and 7% Remote job distribution, with an average salary of $82,064 per year, or $39.5 per hour.
Associate/Full Professor of Applied Economics & State Economist

Associate/Full Professor of Applied Economics & State Economist

University of Minnesota

Minneapolis, MN

Full-time

Medical, Dental, Life, Retirement

Posted 3 days ago


Job description

About the Job
 

Associate Professor or Full Professor of Applied Economics and Minnesota State Economist. Located in the Department of Applied Economics, Twin Cities Campus, University of Minnesota and in Minnesota Management and Budget, St. Paul, Minnesota. This is a tenured faculty position. We are seeking one candidate for this role, which is cross-posted as both a Tenured Faculty and a Contract Faculty position, serving as Minnesota State Economist. Rank and appointment type are flexible and will be based on the successful candidate's experience.

BACKGROUND
Minnesota Management and Budget (MMB) is the state agency responsible for managing the states financial and human resources. Within MMB, the State Economist oversees the work products of the Economic Analysis Team. The State Economist in collaboration with this team produces the states twice-yearly economic and revenue forecasts. The State Economist and the team forecast the major sources of general fund tax revenuethe income, sales, and corporate taxesamong others. These forecasts set the baseline for the states biennial budget decision making and provide estimates for the adjustments necessary to keep the budget in balance. In addition, the team publishes fifteen statutorily mandated reports each year. The State Economist briefs the governor, legislators,  the media, and the states bond rating agencies on the economic and revenue forecasts and serves as MMBs spokesperson on Minnesotas economy.

KEY RESPONSIBILITIES
University Teaching Applied Economics (APEC) (10%)
Teach one, half-semester-length course (or the equivalent) yearly in the Department of Applied Economics, as assigned by the Department Head. The extent of teaching load is negotiable and can vary over time as conditions warrant.
Applied Research (15%)
Develop a nationally or internationally recognized research program related to applied economics. This includes publishing articles in leading peer-reviewed journals, obtaining research grants, and advising graduate and undergraduate research.
Minnesota State Economist (75%)
Fulfill the duties of the State Economist as listed in the governing contract between the University and MMB. These include, but are not limited to:
Oversee the production of the states twice-yearly economic and revenue forecasts. In collaboration with Economic Analysis staff, forecast state economic variables and revenues from the individual income, sales, corporate income, and other taxes. With State Economic Analysis staff, write and edit the economy and revenue sections of the Budget and Economic Forecast report and presentation. Brief government officials, the media, and others on the economic and revenue forecasts.

    Provide leadership and vision for the Economic Analysis Team in collaboration with the director of the state team. Provide the scholarly base for, and be responsible for the quality of, the teams models, forecasts, analyses, reports, and presentations.

    Oversee the production of statutorily mandated reports, including monthly reports on state tax receipts and quarterly revenue and economic updates.

    Serve as the economic spokesperson for MMB and state government by making public speaking engagements and engaging with the media upon request. 
The incumbent is an employee of the University of Minnesota (entitled to its benefits and subject to its rules). The department head evaluates the incumbents performance in collaboration with the Commissioner or Commissioner Designee of Minnesota Management and Budget.
This position is not eligible for H-1B visa sponsorship or Green Card sponsorship. 

In the event the selected candidate for this position cannot fulfill the obligations as State Economist, and if the individual is a tenured faculty member at the University of Minnesota, the position will convert to a 100%, 9-month faculty position in Applied Economics with an expectation of a 50% research and 50% teaching position subject to final approval of position expectations within those parameters by the Head of Applied Economics.

STARTING DATE
Jul 1, 2026 or thereafter, negotiable
 

Qualifications
 

Required Qualifications
Ph.D. in economics, applied economics, or closely related field.
At least 10 years of relevant work experience.
Evidence of high quality written and oral communication skills for professional and non-professional audiences.
Excellent organizational, analytical, and management skills.
Research experience in economics, applied economics, or related fields.
Preferred Qualifications
Evidence of high-quality research and of potential for publication in peer-reviewed field journals and general interest journals in economics.
Experience in economic and/or tax revenue forecasting.
Rigorous training in public finance, public economics, or tax policy.
Research experience in public finance, public economics, tax policy, or tax revenue forecasting.
Demonstrated effectiveness in teaching at the undergraduate or graduate levels.
Demonstrated effectiveness in mentoring and advising graduate students.
Demonstrated effectiveness in communicating with audiences without an economics background.
Previous appointment as a tenured faculty member in an economics or related academic field
Evidence of strong commitment to the Universitys goal of creating a positive and inclusive campus climate by advancing inclusive excellence.
Experience securing or working on extramurally funded research.

About the Department
 

The incumbent for this position will serve as Minnesotas State Economist and fulfill the duties of the State Economist as described in a contract between the University of Minnesota and Minnesota Management and Budget. The incumbent will also be a faculty member in the Department of Applied Economics and contribute to the teaching, research, and outreach missions of the Department of Applied Economics in the College of Food, Agricultural, and Natural Resource Sciences as described in the key responsibilities.

Pay and Benefits
 

Pay Range: Associate Professor (364033): $175,000-$190,000 Professor (364034): $190,000-$205,000; depending on education/qualifications/experience 

Time Appointment: Time Appointment: 100% 12-month Appointment

Position Type: Faculty and P&A Staff 

Please visit the Office of Human Resources website for more information regarding benefit eligibility.

The University offers a comprehensive benefits package that includes:

  • Competitive wages, paid holidays, and generous time off
  • Continuous learning opportunities through professional training and degree-seeking programs supported by the Regents Tuition Benefit Program
  • Low-cost medical, dental, and pharmacy plans
  • Healthcare and dependent care flexible spending accounts
  • University HSA contributions
  • Disability and employer-paid life insurance
  • Employee wellbeing program
  • Excellent retirement plans with employer contribution
  • Public Service Loan Forgiveness (PSLF) opportunity
  • Financial counseling services 
  • Employee Assistance Program with eight sessions of counseling at no cost
  • Employee Transit Pass with free or reduced rates in the Twin Cities metro area
How To Apply
 

APPLICATION DEADLINE
To ensure full consideration, please submit your application materials by April 27, 2026. While the position will remain open until filled, the search committee will begin reviewing files on this date.

APPLICATION PROCEDURE
Apply online at INSERT LINK and click on the Apply for Job button in the upper right corner.

A complete application must include:
Cover letter explaining the candidates vision for this position and how their career goals, training, and experience support their candidacy.
Curriculum vitae,
Graduate transcript (unofficial is acceptable).
One published research paper or report.
Contact information for three individuals who can comment on the candidates abilities and experience.

The cover letter and curriculum vitae must be attached to the online application in PDF format. Other application materials can also be attached to the online application or emailed to the search email below. Email inquiries about the position are welcome, but the formal application process is required.

Faculty Search Committee
Department of Applied Economics
University of Minnesota
1994 Buford Avenue
St. Paul, MN 55108-6040
apecsearch@umn.edu

Diversity
 

The University recognizes and values the importance of diversity and inclusion in enriching the employment experience of its employees and in supporting the academic mission.  The University is committed to attracting and retaining employees with varying identities and backgrounds.

The University of Minnesota provides equal access to and opportunity in its programs, facilities, and employment without regard to race, color, creed, religion, national origin, gender, age, marital status, disability, public assistance status, veteran status, sexual orientation, gender identity, or gender expression.  To learn more about diversity at the U:  http://diversity.umn.edu

Employment Requirements
 

Any offer of employment is contingent upon the successful completion of a background check. Our presumption is that prospective employees are eligible to work here. Criminal convictions do not automatically disqualify finalists from employment.

About University of Minnesota
 

The University of Minnesota, Twin Cities (UMTC)

The University of Minnesota, Twin Cities (UMTC), is among the largest public research universities in the country, offering undergraduate, graduate, and professional students a multitude of opportunities for study and research. Located at the heart of one of the nation's most vibrant, diverse metropolitan communities, students on the campuses in Minneapolis and St. Paul benefit from extensive partnerships with world-renowned health centers, international corporations, government agencies, and arts, nonprofit, and public service organizations.

At the University of Minnesota, we are proud to be recognized by the Star Tribune as a Top Workplace for 2021, as well as by Forbes as Best Employers for Women and one of ...