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Usually a person is not qualified to use the name «economist» without a graduate degree in economics. By this definition, there are about 100 000 economists in the US.
About half of them are academic economists, who engage in teaching, writing and doing research in colleges and universities. They also write textbooks and journal articles, develop and test new theoretical models, provide consulting services to governments and businesses, and engage in a variety of other professional activities. The other half of the profession works for business or government. Business economists forecast sales and costs, help firms anticipate (or try to influence) government policy. Some business economists work for private lobbying organizations, helping them prepare their arguments to try to affect tax laws, regulations, etc. which are important to particular kinds of Industries.
Government economists also perform a variety of useful tasks. Often the government economist wears a second hat as a policy analyst. Economists forecast tax revenues and Interest rates, analyze who gains and who loses from particular changes, monitor prices, compute total output and perform other useful tasks in the public sector.
In the broader sense, economists study the ways in which people deal with the problems of scarcity.