Also called: Economic Analyst, Economic Consultant, Economist, Research Associate
Produced by CareerOneStop
Video transcript: skip transcript
According to its Greek origins, the word “economics” described the management of a person’s household. While today’s economists may study individual behavior, or broaden their focus to communities, countries, and even global patterns, the field still pursues the improvement of conditions for people’s lives. Economists study the patterns of production, distribution, and consumption of resources, goods, and services. They conduct surveys, analyze data, and communicate their findings in reports and charts to make the data understandable to others. Economists work in fields from education to health and the environment. They may study the psychological and social factors of economic decision making, analyze savings, investments and risk, study international trade, or focus on the economic role of government It’s common for economists to study historical trends to forecast future patterns. Math skills are essential. Most economists work in an office, generally full time, although a deadline can require more than 40 hours per week until it’s met. While they mostly work independently, many economists collaborate and work in teams with other economists and statisticians. A master’s degree or Ph.D. is required for most economist positions. A bachelor’s degree in economics may qualify candidates for some entry-level economist positions, especially with government offices, or for jobs as research assistants or analysts in business, finance, and consulting.
What they do: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.
On the job, you would:
- 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.
Math and Science
- arithmetic, algebra, geometry, calculus, or statistics
- accounting and economics
Arts and Humanities
- English language
Engineering and Technology
- computers and electronics
- reading work related information
- thinking about the pros and cons of different ways to solve a problem
- noticing a problem and figuring out the best way to solve it
People and Technology Systems
- thinking about the pros and cons of different options and picking the best one
- figuring out how a system should work and how changes in the future will affect it
- read and understand what is written
- communicate by speaking
- choose the right type of math to solve a problem
- add, subtract, multiply, or divide
Ideas and Logic
- make general rules or come up with answers from lots of detailed information
- use rules to solve problems
People interested in this work like activities that include ideas, thinking, and figuring things out.
They do well at jobs that need:
- Analytical Thinking
You might use software like this on the job:
Analytical or scientific software
Object or component oriented development software