Career Overview
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.
Also Known As
- Economic Analyst
- Economic Consultant
- Economist
- Forensic Economist
Alternate Job Titles
- Agricultural Economist
- Business Economist
- Consultant Economist
- Econometrician
- Economic Advisor
- Economic Analyst
- Economic Consultant
- Economic Developer
- Economic Development Manager
- Economic Development Specialist
- Economic Research Analyst
- Economic Specialist
- Economist
- Environmental Economist
- Financial Economist
What You'll Do
In this role, your typical responsibilities include:
- 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.
- Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
- Explain economic impact of policies to the public.
- Review documents written by others.
- Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
- Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
Emerging Responsibilities
As this field evolves, you may also:
- Construct and manage economic datasets.
- Present research at seminars and conferences.
- Review documents written by others, such as referee reports.
Knowledge You'll Use
You'll need solid knowledge in these areas:
- Mathematics
- Economics and Accounting
- English Language
- Computers and Electronics
Essential Skills
Success in this career requires strong skills in:
- Reading Comprehension
- Mathematics
- Critical Thinking
- Active Listening
- Writing
- Speaking
- Judgment and Decision Making
- Active Learning
- Complex Problem Solving
Key Abilities
This career requires key abilities in:
- Written Comprehension
- Mathematical Reasoning
- Inductive Reasoning
- Oral Comprehension
- Deductive Reasoning
- Speech Clarity
- Written Expression
- Oral Expression
- Fluency of Ideas
- Problem Sensitivity
Work Style
People who excel in this career typically demonstrate:
- Intellectual Curiosity
- Attention to Detail
- Achievement Orientation
- Dependability
- Integrity
What Matters in This Career
This career tends to satisfy these work values:
- Working Conditions
- Independence
- Achievement
- Recognition
- Support
Education & Preparation
Typical Education: Master's Degree
On-the-Job Training: Anything beyond short demonstration, up to and including 1 month
Education Details: Most of these occupations 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).
Experience Required: 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.
Technology You'll Use
Popular Technologies & Software
- C++
- IBM SPSS Statistics
- Microsoft Access
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft Power BI
- Microsoft PowerPoint
- Microsoft SQL Server
- Microsoft Visual Basic
Tools & Equipment
- 10-key calculators
- Data scanners
- Desktop computers
- Laptop computers
- Maintrame computers
- Personal computers
Work Environment
- Spend Time Sitting
- Freedom to Make Decisions
- Face-to-Face Discussions with Individuals and Within Teams
- Telephone Conversations
Salary & Job Market
| Salary Percentile | Annual Wage |
|---|---|
| Entry-Level (10th percentile) | $62,340 |
| Median | $115,440 |
| Top Earners (90th percentile) | $212,710 |
Workers Employed Nationally: 15,880
Related Careers
If you're interested in this career, you might also consider:
Environmental Economists
Education: Doctoral Degree
Median Salary: $115,440
Economics Teachers, Postsecondary
Education: Doctoral Degree
Median Salary: $119,980
Financial and Investment Analysts
Education: Not specified
Median Salary: $101,350
Political Scientists
Education: Doctoral Degree
Median Salary: $139,380
Business Teachers, Postsecondary
Education: Doctoral Degree
Median Salary: $97,270
Is This Career Right for You?
Discover your perfect career match with our free comprehensive assessment! Get personalized recommendations based on your interests, skills, and values.
Take the Free Career Assessment →
Want Personalized Guidance?
For customized career recommendations, college selection strategies, and expert application support, explore the MehtA+ Admissions Consulting Program. We help students identify the right opportunities and navigate the path to achieving their academic and career goals.
Occupational data sourced from the O*NET OnLine database, developed by the U.S. Department of Labor, Employment and Training Administration. Wage data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), 2024.