Economists conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

  • Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
  • Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.
  • Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
  • Supervise research projects and students' study projects.
  • Teach theories, principles, and methods of economics.
  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
  • Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
  • Explain economic impact of policies to the public.
  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
  • Forecast production and consumption of renewable resources and supply, consumption, and depletion of non-renewable resources.
  • Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.
  • Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy and present recommendations based on cost-benefit analyses.
  • Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.
Work Context
  • Electronic Mail — 92% responded "Every day".
  • Freedom to Make Decisions — 83% responded "A lot of freedom".
  • Indoors, Environmentally Controlled — 87% responded "Every day".
  • Structured versus Unstructured Work — 79% responded "A lot of freedom".
  • Face-to-Face Discussions — 61% responded "Every day".
  • Spend Time Sitting — 48% responded "More than half the time".
  • Importance of Being Exact or Accurate — 53% responded "Extremely important".
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Work Activities
  • Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
  • Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
  • Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
  • Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
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Detailed Work Activities
  • Prepare scientific or technical reports or presentations.
  • Testify at legal or legislative proceedings.
  • Conduct research on social issues.
  • Prepare scientific or technical reports or presentations.
  • Explain regulations, policies, or procedures.
  • Present information to the public.
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Knowledge

Mathematics
  • Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Economics and Accounting
  • Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
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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Skills

Reading Comprehension
  • Understanding written sentences and paragraphs in work related documents.
Mathematics
  • Using mathematics to solve problems.
Critical Thinking
  • Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
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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Abilities

Written Comprehension
  • The ability to read and understand information and ideas presented in writing.
Oral Comprehension
  • The ability to listen to and understand information and ideas presented through spoken words and sentences.
Mathematical Reasoning
  • The ability to choose the right mathematical methods or formulas to solve a problem.
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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Personality

People interested in this work like activities that include ideas, thinking, and figuring things out.
They do well at jobs that need:
  • Achievement/Effort
  • Persistence
  • Initiative
  • Leadership
  • Cooperation
  • Concern for Others
  • Social Orientation
  • Self Control
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Technology

You might use software like this on the job:

Analytical or scientific software
  • IBM SPSS Statistics Hot Technology
  • The MathWorks MATLAB Hot Technology
  • Minitab Hot Technology
  • SAS Hot Technology
  • TreeAge Software TreeAge Pro
  • Timberlake Consultants OxMetrics
  • Wolfram Research Mathematica
  • StataCorp Stata
  • Quantitative Micro Software EViews
  • Econometric Software LIMDEP
  • Estima Regression Analysis of Time Series RATS
  • Estimates Delivery System EDS
  • Global Insight AREMOS
  • Aptech Systems GAUSS
  • Insightful S-PLUS
  • MacKichan Software Scientific Notebook
  • Maplesoft Maple
  • Mathsoft Mathcad
  • Camfit Data Limited Microfit
Object or component oriented development software
  • Python Hot Technology
  • Oracle Java Hot Technology
  • R Hot Technology
  • C++ Hot Technology
  • Microsoft Visual C# .NET
Data base user interface and query software
  • Microsoft Access Hot Technology
  • Microsoft SQL Server Hot Technology
  • Structured query language SQL Hot Technology
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Education

Doctoral Degree or
Master's Degree
usually needed

Get started on your career:

Job Outlook

New job opportunities are very likely in the future.
Salary
$108,350
$59,220
$198,230