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.
Sample of reported job titles:
Economic Analyst, Economic Consultant, Economic Development Specialist, Economist, Forensic Economist, Project Economist, Research Analyst, Research Associate, Revenue Research Analyst, Tax Economist
Occupation-Specific Information
Tasks
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
- Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
- Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
- Develop economic guidelines and standards, and prepare points of view used in forecasting trends and formulating economic policy.
Technology Skills
- Analytical or scientific software:Aptech Systems GAUSS,Camfit Data Limited Microfit,Econometric Software LIMDEP,Estima Regression Analysis of Time Series RATS,Estimates Delivery System EDS,Global Insight AREMOS,IBM SPSS Statistics,Insightful S-PLUS,MacKichan Software Scientific Notebook,Maplesoft Maple,Mathsoft Mathcad,Minitab,Quantitative Micro Software EViews,SAS statistical software,StataCorp Stata,The MathWorks MATLAB,Timberlake Consultants OxMetrics,TreeAge Software TreeAge Pro,Wolfram Research Mathematica
- Data base management system software:MySQL,Teradata Database
- Data base user interface and query software:Microsoft Access,Microsoft SQL Server,Structured query language SQL
- Desktop publishing software:LaTeX
- Development environment software:Formula translation/translator FORTRAN,Microsoft Visual Basic,Microsoft Visual Basic for Applications VBA
Occupational Requirements
Work Activities
- Analyzing Data or Information:Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Working 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.
Detailed Work Activities
- Advise others on business or operational matters.
- Advise others on matters of public policy.
- Conduct research on social issues.
- Establish standards for products, processes, or procedures.
- Explain regulations, policies, or procedures.
Work Context
- Electronic Mail:91% responded"Every day"
- Indoors, Environmentally Controlled:87% responded"Every day"
- Freedom to Make Decisions:83% responded"A lot of freedom"
- Structured versus Unstructured Work:78% responded"A lot of freedom"
- Face-to-Face Discussions:61% responded"Every day"
Worker Requirements
Skills
- Critical Thinking:Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Mathematics:Using mathematics to solve problems.
- Reading Comprehension:Understanding written sentences and paragraphs in work-related documents.
- 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.
- Judgment and Decision Making:Considering the relative costs and benefits of potential actions to choose the most appropriate one.
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.
- Computers and Electronics:Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- 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.
Education
How much education does a new hire need to perform a job in this occupation? Respondents said:
- 61%Doctoral Degree
- 30%Master's Degree
Worker Characteristics
Abilities
- Written Comprehension:The ability to read and understand information and ideas presented in writing.
- Deductive Reasoning:The ability to apply general rules to specific problems to produce answers that make sense.
- Inductive Reasoning:The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Mathematical Reasoning:The ability to choose the right mathematical methods or formulas to solve a problem.
- Oral Comprehension:The ability to listen to and understand information and ideas presented through spoken words and sentences.
Interests
- Investigative:Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
- Conventional:Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Enterprising:Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Work Values
- Working Conditions:Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
- Independence:Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
- Achievement:Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Work Styles
- Analytical Thinking:Job requires analyzing information and using logic to address work-related issues and problems.
- Achievement/Effort:Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Persistence:Job requires persistence in the face of obstacles.
- Initiative:Job requires a willingness to take on responsibilities and challenges.
- Integrity:Job requires being honest and ethical.
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