Economist Job Profile and Description
The most important task of the Economists is to analyze data and understand the economic trends of the society. The career field of economists is broad and they specialize in different areas of finance and economy. Economists are of different types and function in different types of organizations but whatever be the nature of their employment sector, their basic function is to deal with the economic and financial matters. While some specialize in finance and markets other specialize in demographic factors.
Economist Duties and Responsibilities
- Determining how distribution of resources should be made by carrying out adequate amount of research.
- Monitoring economic trends and developing forecasts on a variety of issues related to economy.
- Developing methods for obtaining data that is need to carry out their survey work.
- Preparing reports, tables and charts, on economic concepts.
- Applying different areas of economics to different sections of related subjects like health, education, agriculture, history, energy etc.
- Planning, designing and conducting research in order to aid the study of different economic relationships.
- Devising methods and procedures for collecting and processing data.
- Carrying out survey of different types of economic situations and drawing their parallel from related economic situations for better understanding.
- Analyzing economic issues that are related to how the concept of how prices and their fluctuations affect consumers and their purchasing power of goods and services.
Economist Skills and Specifications
- Ability to carry out precise analysis
- Eye for details
- Strong computer and quantitative skills
- Great communication skills
- Patience and persistence
Economist Education and Qualifications
- Master’s or Ph.D. degree in economics is required for those economists are into the private sector.
- Knowledge of statistics, accounting, calculus along with adequate degree of experience are added advantage.
- Median annual wages of economists are about $83,590.
- However their salary largely depends on their experience, knowledge, expertise at work, nature of the organization etc
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