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How do I Become a Forensic Economist?

By Jill Gonzalez
Updated May 17, 2024
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To become a forensic economist, candidates need to have an aptitude for the fields of finance and economics. For the most part, forensic economists are employed as consultants who provide expert testimony in courts of law. These individuals provide testimony about matters dealing with accounting, finance, and general economics topics.

For people who want to become a forensic economist, it is important that they feel comfortable with mathematical concepts. While the basic requirements of this job do not involve working directly with numbers throughout each day as an accountant would, it does require a certain comfort level with numbers. It also helps to have an analytical mind.

In order to become a forensic economist and be successful in this line of work, candidates need to have a well-rounded education that provides them with expanded knowledge in several different areas of study. As a general rule, forensic economists should be well versed in the areas of taxes, valuation, and capitalization. People in this line of work often possess undergraduate degrees in accounting because of this particular need.

Additionally, candidates should also have at least an educational background in stocks and securities and insider trading. Having knowledge of the stock market is a definite asset in the field of forensic economics, and for some professional positions it is a requirement. This does not mean, however, that candidates need to have actual work experience as a stock broker.

When people choose to become a forensic economist, they typically do so because they are persuasive and commanding speakers. Being good at this job is much more than simply having the proper educational background and work experience. It also involves being able to function as an expert witness in courtrooms, which means that candidates need to be at ease when seated on the witness stand.

This type of work is not ideal for everyone simply because some people feel more comfortable working in an office and do not enjoy being put on the spot in order to provide testimony in a trial. For the most part, forensic economists have advanced degrees in economics, finance, or accounting in addition to several years of related work experience. Many consulting firms require candidates to have a doctorate in one of these areas of study simply because the more advanced a candidate's education, the more respected that person's testimony will be viewed when speaking as an expert witness.

WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
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