Economists

Science, Technology, Engineering & Mathematics > Science and Mathematics

Projected Growth: Faster than average

1800+
Projected Job Openings

Extensive Preparation Needed

Job Description

Your job is to 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.

Common job titles of Economists include:
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Experience and Education

Extensive skill, knowledge, and experience are needed for these occupations. Many require more than five years of experience. For example, surgeons must complete four years of college and an additional five to seven years of specialized medical training to be able to do their job.

  • 60.87% said they needed a Doctoral Degree.

  • 30.43% said they needed a Master's Degree.

Tasks

    Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.

    Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.

    Teach theories, principles, and methods of economics.

    Supervise research projects and students' study projects.

    Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.

    Explain economic impact of policies to the public.

    Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.

    Forecast production and consumption of renewable resources and supply, consumption, and depletion of non-renewable resources.

    Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.

    Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.

    Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.

    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.

    Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.

Tools

Personal computers

Maintrame computers

Laptop computers

Desktop computers

Data scanners

10-key calculators

Technologies

IBM SPSS Statistics

Mathsoft Mathcad

MySQL

Python

Teradata Database

Aptech Systems GAUSS

Camfit Data Limited Microfit

All Technologies

Corel QuattroPro

Econometric Software LIMDEP

ESRI ArcView

Estima Regression Analysis of Time Series RATS

Estimates Delivery System EDS

Formula translation/translator FORTRAN

Global Insight AREMOS

IBM Lotus 1-2-3

Insightful S-PLUS

LaTeX

MacKichan Software Scientific Notebook

Maplesoft Maple

MediaWiki

Microsoft Visual C# .NET

Palisade @Risk

Quantitative Micro Software EViews

Timberlake Consultants OxMetrics

TreeAge Software TreeAge Pro

Wolfram Research Mathematica

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.

Writing

Communicating effectively in writing as appropriate for the needs of the audience.

Speaking

Talking to others to convey information effectively.

Judgment and Decision Making

Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Active Learning

Understanding the implications of new information for both current and future problem-solving and decision-making.

Complex Problem Solving

Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Instructing

Teaching others how to do something.

Systems Analysis

Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.

Systems Evaluation

Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.

Learning Strategies

Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.

Monitoring

Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.

Coordination

Adjusting actions in relation to others' actions.

Persuasion

Persuading others to change their minds or behavior.

Service Orientation

Actively looking for ways to help people.

Time Management

Managing one's own time and the time of others.

Abilities

Read and understand information and ideas presented in writing.

Cognitive Abilities › Verbal Abilities › Written Comprehension

Listen to and understand information and ideas presented through spoken words and sentences.

Cognitive Abilities › Verbal Abilities › Oral Comprehension

Communicate information and ideas in speaking so others will understand.

Cognitive Abilities › Verbal Abilities › Oral Expression

Communicate information and ideas in writing so others will understand.

Cognitive Abilities › Verbal Abilities › Written Expression

Apply general rules to specific problems to produce answers that make sense.

Cognitive Abilities › Idea Generation and Reasoning Abilities › Deductive Reasoning

Combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

Cognitive Abilities › Idea Generation and Reasoning Abilities › Inductive Reasoning

Choose the right mathematical methods or formulas to solve a problem.

Cognitive Abilities › Quantitative Abilities › Mathematical Reasoning

Speak clearly so others can understand you.

Auditory and Speech Abilities › Sensory Abilities › Speech Clarity

Come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).

Cognitive Abilities › Idea Generation and Reasoning Abilities › Fluency of Ideas

Tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

Cognitive Abilities › Idea Generation and Reasoning Abilities › Problem Sensitivity

Add, subtract, multiply, or divide quickly and correctly.

Cognitive Abilities › Quantitative Abilities › Number Facility

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Occupation Sections

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.

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