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Career Details : Economists

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Description

Conduct research, prepare reports, or formulate plans to aid in solution of economic problems arising from production and distribution of goods and services. May collect and process economic and statistical data using econometric and sampling techniques.

Experience

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.

Education

A bachelor's degree is the minimum formal education required for these occupations. However, many also require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree).

Training

Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.

Tasks

  • Studies economic and statistical data in area of specialization, such as finance, labor, or agriculture.
  • Formulates recommendations, policies, or plans to interpret markets or solve economic problems.
  • Develops economic guidelines and standards and preparing points of view used in forecasting trends and formulating economic policy.
  • Devises methods and procedures for collecting and processing data, using various econometric and sampling techniques.
  • Assigns work to staff.
  • Teaches theories, principles, and methods of economics.
  • Testifies at regulatory or legislative hearings to present recommendations.
  • Provides advice and consultation to business and public and private agencies.
  • Supervises research projects and students' study projects.
  • Compiles data relating to research area, such as employment, productivity, and wages and hours.
  • Reviews and analyzes data to prepare reports, to forecast future marketing trends, and to stay abreast of economic changes.
  • Organizes research data into report format, including graphic illustrations of research findings.

    Related Careers

    Important Abilities

    General Work Activities

    Important Skills

    Frequent Work Context

    • Job-Required Social Interaction
    • Indoors
    • Objective or Subjective Information
    • Consequence of Error
    • Importance of Being Exact or Accurate

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