Economists

Description

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.

Tasks

Supervise research projects and students' study projects.
Teach theories, principles, and methods of economics.
Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.
Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
Testify at regulatory or legislative hearings concerning the estimated effects of changes in legislation or public policy and present recommendations based on cost-benefit analyses.
Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
Develop economic guidelines and standards and prepare points of view used in forecasting trends and formulating economic policy.
Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.
Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources.
Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.

Knowledge

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.
English Language: Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Education and Training: Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
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.
Geography: Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.

Skills

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Speaking: Talking to others to convey information effectively.
Mathematics: Using mathematics to solve problems.
Systems Analysis: Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.

Abilities

Written Expression: The ability to communicate information and ideas in writing so others will understand.
Oral Expression: The ability to communicate information and ideas in speaking 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.
Number Facility: The ability to add, subtract, multiply, or divide quickly and correctly.
Deductive Reasoning: The ability to apply general rules to specific problems to produce answers that make sense.
Inductive Reasoning: The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Mathematical Reasoning: The ability to choose the right mathematical methods or formulas to solve a problem.

Work Activities

Analyzing Data or Information: Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Processing Information: Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Updating and Using Relevant Knowledge: Keeping up-to-date technically and applying new knowledge to your job.
Getting Information: Observing, receiving, and otherwise obtaining information from all relevant sources.
Making Decisions and Solving Problems: Analyzing information and evaluating results to choose the best solution and solve problems.
Interpreting the Meaning of Information for Others: Translating or explaining what information means and how it can be used.
Provide Consultation and Advice to Others: Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
Thinking Creatively: Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
Identifying Objects, Actions, and Events: Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
Training and Teaching Others: Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Work Context

Electronic Mail: How often do you use electronic mail in this job?
Indoors, Environmentally Controlled: How often does this job require working indoors in environmentally controlled conditions?
Face-to-Face Discussions: How often do you have to have face-to-face discussions with individuals or teams in this job?
Freedom to Make Decisions: How much decision making freedom, without supervision, does the job offer?
Structured versus Unstructured Work: To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals?
Importance of Being Exact or Accurate: How important is being very exact or highly accurate in performing this job?
Telephone: How often do you have telephone conversations in this job?
Spend Time Sitting: How much does this job require sitting?
Contact With Others: How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?
Time Pressure: How often does this job require the worker to meet strict deadlines?

Interests

Investigative: Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Conventional: Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Enterprising: Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Artistic: Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
Realistic: Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
Social: Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Work Style

Analytical Thinking: Job requires analyzing information and using logic to address work-related issues and problems.
Attention to Detail: Job requires being careful about detail and thorough in completing work tasks.
Achievement/Effort: Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Integrity: Job requires being honest and ethical.
Initiative: Job requires a willingness to take on responsibilities and challenges.
Persistence: Job requires persistence in the face of obstacles.
Independence: Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
Innovation: Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
Dependability: Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Adaptability/Flexibility: Job requires being open to change (positive or negative) and to considerable variety in the workplace.

Work Values

Working Conditions: Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Independence: Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Achievement: Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Recognition: Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Support: Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
Relationships: Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.

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Lay Titles

Agricultural Economist

Business Economist

Econometrician

Economic Adviser

Economic Analysis Director

Economic Analyst

Economic Consultant

Economic Developer

Economic Development Specialist

Economic Research Analyst

Economist

Financial Economist

Fiscal Economist

Forensic Economist

Forest Economist

Health Researcher

Industrial Economist

International Trade Specialist

Labor Economist

Policy Advisor

Policy Analyst

Policy Officer

Price Economist

Project Economist

Research Analyst

Revenue Research Analyst

Social Economist

Tax Economist

Trade Economist

National Wages and Employment Info

Median Wages (2008):: $44.16 hourly, $91,860 annual.

Employment (2008):: 15,760 employees