Occupation Profile for Economists
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.
Signficant Points
- Slower than average job growth is expected as firms increasingly employ workers with titles that reflect specialized duties rather than the general title of economist.
- Job seekers with a background in economics should have opportunities in various occupations.
- Candidates who hold a master’s or Ph.D. degree in economics will have the best employment prospects and advancement opportunities.
- Quantitative skills are important in all economics specialties.
Knowledge
- English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Skills
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Mathematics — Using mathematics to solve problems.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
Abilities
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.