Examine the description of job prospects for economists and market analysts provided by the Bureau of Labor Statistics.

Questions

1. The section of this document entitled "Earnings" lists average salaries for economists by type of occupation and by level of educational attainment. Based on the discussion in the text, do you think that these salary differentials are a form of compensating wage differential? Explain.
2. 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 the text, formulate an explanation for the differences in average starting salaries between these markets.