Alternate Title(s) | N/A |
Minimum Education Requirements | Master's degree |
Salary | See Bureau of Labor Statistics for more information |
Job Skills | - Analytical skills. Economists must be able to review data, observe patterns, and draw logical conclusions. For example, some economists analyze historical employment trends to make future projections on jobs. - Communication skills. Economists must be able to explain their work to others. They may give presentations, explain reports, or advise clients on economic issues. They may collaborate with colleagues and sometimes must explain economic concepts to those without a background in economics. - Critical-thinking skills. Economists must be able to use logic and reasoning to solve complex problems. For instance, they might identify how economic trends may affect an organization. - Detail oriented. Economists must pay attention to details. Precise data analysis is necessary to ensure accuracy in their findings. - Math skills. Economists use the principles of statistics, calculus, and other advanced topics in mathematics in their economic analyses. - Writing skills. Economists must be able to present their findings clearly. Many economists prepare reports for colleagues or clients; others write for publication in journals or for news media. |
Job Duties | Economists typically do the following: - Research and analyze economic issues - Conduct surveys and collect data - Analyze data using mathematical models and statistical techniques - Prepare reports, tables, and charts and present research results - Interpret and forecast market trends - Advise businesses, governments, and individuals on economic topics - Design policies or make recommendations for solving economic problems - Write articles for publication in academic journals and other media sources |
Job Profile | Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues. Economists apply economic analysis to issues within a variety of fields, such as education, health, development, and the environment. Some economists study the cost of products, healthcare, or energy. Others examine employment levels, business cycles, exchange rates, taxes, inflation, or interest rates. Economists often study historical trends and use them to make forecasts. They research and analyze data using a variety of software programs, including spreadsheets, statistical analysis, and database management programs. They sometimes give a presentation of their research to various audiences. |
The information presented within this occupational profile was synthesized from the Bureau of Labor Statistics, U.S. Department of Labor, Outlook Handbook, 2016-17 Edition and the U.S. Office of Personnel Management’s Handbook of Occupational Groups & Families.