What do economic analysts do

The major tasks, duties, and responsibility that constitute the economic analyst job description are listed below:. If you need to make a resume for a new job, the duties and responsibilities of an economic analyst that are highlighted in the above sample job description will give you what you need to make the professional experience section of your resume if you have worked or are presently working in the position of an economic analyst.

When hiring for the economic analyst position, recruiters commonly specify certain skills, abilities, and education level as requirement that applicants for the job must meet to access it.

Shown below are major requirements that applicants for the economic analyst role are usually expected to fulfill:. If you are a recruiter hiring for the role of an economic analyst, you can create an effective description for the job that can increase your chances of attracting the best candidates for the position by utilizing the sample job description presented above. You will also find this article helpful if you are interested in the economic analyst career.

You will be able to increase your knowledge of the duties and responsibilities commonly performed by economic analysts. Did this article help you learn about what economic analysts do? Please, leave a comment in the box below.

You can also share your job description if you work as an economic analyst. Their expertise requires them to both analyze and interpret economic trends and developments while also tracking the financial activities of foreign entities. These CIA professionals work closely with a number of other analysts, such as political, leadership and military analysts within the Intelligence Community to provide U.

They then use the information they obtained to write intelligence papers and briefings for U. The work of economic analysts involves focusing on any number of macroeconomic or microeconomic issues relevant to the specific region or country of which they are studying.

What Economists do:. 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.

Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques. Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.

Supervise research projects and students' study projects. Teach theories, principles, and methods of economics. Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.

Explain economic impact of policies to the public. Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers. Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.

Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues. Economists apply both qualitative and quantitative economic analysis to topics within a variety of fields, such as education, health, development, and the environment.

Some economists study the cost of products, healthcare, or energy, while 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. They sometimes present their research to various audiences.

Many economists work in federal, state, and local government. Federal government economists collect and analyze data about the U. They also project spending needs and inform policymakers on the economic impact of laws and regulations. Economists working for corporations help managers and decisionmakers understand how the economy will affect their business. Specifically, economists may analyze issues such as consumer demand and sales to help a company maximize its profits. Economists also work for international organizations, research firms, and think tanks, where they study and analyze a variety of economic issues.

Their analyses and forecasts are frequently published in newspapers and journals. Many PhD economists become postsecondary teachers. Economists typically work independently in an office.

However, many economists collaborate with other economists and statisticians , sometimes working on teams. Some economists work from home, and others may be required to travel as part of their job or to attend conferences. Economists spend much of their time using computers to analyze data, review research, or write findings.

Most economists work full time. In addition to working full time at a business or university, some economists consult part-time. Some perform work that may require overtime hours. Positions in business, research, or international organizations often require a combination of graduate education and work experience. In addition, courses that introduce students to statistical analysis software are helpful. An advanced degree is sometimes required for advancement to higher level positions.

Aspiring economists can gain valuable experience from internships where the work involves gathering and analyzing data, researching economic issues and trends, and writing reports on their findings. In addition, related experience, such as using statistical analysis software, can be advantageous. Analytical skills.

Economists must be able to review data in detail, observe patterns, perform advanced calculations, and draw logical conclusions. For example, labor economists analyze the effects of labor policies on employment. 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.

Speaking skills.