Economists
What is an Economist?
An economist is a professional who studies the production, distribution, and consumption of goods and services. They analyze economic data and trends to understand how economies function and to provide insights that guide policy-making, business strategies, and social welfare decision-making. Economists often specialize in various subfields such as microeconomics, macroeconomics, international economics, development economics, or labor economics, focusing on specific aspects of economic theory and application. They use mathematical models, statistical techniques, and empirical data to forecast economic conditions, assess the impact of government policies, and evaluate economic issues affecting individuals and communities. Economists play a crucial role in advising governments, corporations, and non-profit organizations on economic strategies, helping to inform decisions that can lead to increased economic efficiency and improved living standards. Their work is vital for understanding complex issues such as inflation, unemployment, trade, and economic growth, making them key contributors to societal advancement and stability.
Tasks
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
- Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
- Explain economic impact of policies to the public.
- Review documents written by others.
Technology Skills
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Analytical or scientific software
- IBM SPSS Statistics
- Minitab
- SAS
- The MathWorks MATLAB
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Presentation software
- Microsoft PowerPoint
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Object or component oriented development software
- C++
- Oracle Java
- Python
- R
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Spreadsheet software
- Corel QuattroPro
- IBM Lotus 1-2-3
- Microsoft Excel
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Development environment software
- Formula translation/translator FORTRAN
- Microsoft Visual Basic
- Microsoft Visual Basic for Applications VBA
Tools Used
- Scanners
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Desktop computers
- Mainframe computers
- Notebook computers
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Personal computers
Knowledge
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Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
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Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
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English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
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Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
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Education and Training
Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
Skills
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Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
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Mathematics
Using mathematics to solve problems.
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Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
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Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
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Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Abilities
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Inductive Reasoning
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
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Mathematical Reasoning
The ability to choose the right mathematical methods or formulas to solve a problem.
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Written Comprehension
The ability to read and understand information and ideas presented in writing.
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Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
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Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Education
How much education does a new hire need to perform a job in this occupation?
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Master's degree
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Doctoral degree
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Bachelor's degree
Work Activities
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Analyzing Data or Information
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
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Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
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Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
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Processing Information
Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
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Interpreting the Meaning of Information for Others
Translating or explaining what information means and how it can be used.
Detailed Work Activities
- Review professional literature to maintain professional knowledge.
- Forecast economic, political, or social trends.
- Conduct research on social issues.
- Explain regulations, policies, or procedures.
- Present information to the public.
Work Interests
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Investigative
Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service.
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Conventional
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
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Enterprising
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
Job Outlook
Projected salary and job growth
$62520.0 - $216900.0
New job opportunities are likely in the future. : Average
Assessment
Related assessments and tests
No assessment available.