Projected Growth: Faster than average
Projected Job Openings
Extensive Preparation Needed
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:
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.
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.
IBM SPSS Statistics
Aptech Systems GAUSS
Camfit Data Limited MicrofitAll Technologies
Econometric Software LIMDEP
Estima Regression Analysis of Time Series RATS
Estimates Delivery System EDS
Formula translation/translator FORTRAN
Global Insight AREMOS
IBM Lotus 1-2-3
MacKichan Software Scientific Notebook
Microsoft Visual C# .NET
Quantitative Micro Software EViews
Timberlake Consultants OxMetrics
TreeAge Software TreeAge Pro
Wolfram Research Mathematica
Understanding written sentences and paragraphs in work related documents.
Using mathematics to solve problems.
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
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.
Communicating effectively in writing as appropriate for the needs of the audience.
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.
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.
Teaching others how to do something.
Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Adjusting actions in relation to others' actions.
Persuading others to change their minds or behavior.
Actively looking for ways to help people.
Managing one's own time and the time of others.
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
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.
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.