Economists

19-3011.00

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.

Occupation-Specific Information

Tasks

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

Technology Skills

• Analytical or scientific software - Aptech Systems GAUSS; Camfit Data Limited Microfit; Econometric Software LIMDEP; Estima Regression Analysis of Time Series RATS; Estimates Delivery System EDS; Global Insight AREMOS; IBM SPSS Statistics 🔥; Insightful S-PLUS; MacKichan Software Scientific Notebook; Maplesoft Maple; Mathsoft Mathcad; Minitab; Quantitative Micro Software EViews; SAS ; StataCorp Stata; The MathWorks MATLAB 🔥; Timberlake Consultants OxMetrics; TreeAge Software TreeAge Pro; Wolfram Research Mathematica
• Business intelligence and data analysis software - Tableau 🔥
• Data base management system software - MySQL 🔥; Teradata Database 🔥
• Data base user interface and query software - Microsoft Access 🔥; Microsoft SQL Server 🔥; Structured query language SQL
• Desktop publishing software - LaTeX
• Development environment software - Formula translation/translator FORTRAN; Microsoft Visual Basic 🔥; Microsoft Visual Basic for Applications VBA 🔥
• Electronic mail software - Microsoft Outlook
• Financial analysis software - Palisade @Risk
• Geographic information system - ESRI ArcView
• Internet browser software - Microsoft Internet Explorer; Mozilla Firefox; Web browser software
• Object or component oriented development software - C++ 🔥; Microsoft Visual C# .NET; Oracle Java 🔥; Python ; R
• Office suite software - Corel WordPerfect Office Suite; Microsoft Office software
• Operating system software - UNIX 🔥; UNIX Shell 🔥
• Presentation software - Microsoft PowerPoint
• Spreadsheet software - Corel QuattroPro; IBM Lotus 1-2-3; Microsoft Excel
• Web page creation and editing software - MediaWiki
• Word processing software - Microsoft Word 🔥

Occupational Requirements

Work Activities

• Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
• Monitoring Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
• Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
• Inspecting Equipment, Structures, or Materials - Inspecting equipment, structures, or materials to identify the cause of errors or other problems or defects.
• Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
• Judging the Qualities of Objects, Services, or People - Assessing the value, importance, or quality of things or people.
• Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
• Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
• Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
• Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
• Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
• Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.
• Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.
• Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
• Performing General Physical Activities - Performing physical activities that require considerable use of your arms and legs and moving your whole body, such as climbing, lifting, balancing, walking, stooping, and handling materials.
• Handling and Moving Objects - Using hands and arms in handling, installing, positioning, and moving materials, and manipulating things.
• Controlling Machines and Processes - Using either control mechanisms or direct physical activity to operate machines or processes (not including computers or vehicles).
• Operating Vehicles, Mechanized Devices, or Equipment - Running, maneuvering, navigating, or driving vehicles or mechanized equipment, such as forklifts, passenger vehicles, aircraft, or watercraft.
• Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
• Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment - Providing documentation, detailed instructions, drawings, or specifications to tell others about how devices, parts, equipment, or structures are to be fabricated, constructed, assembled, modified, maintained, or used.
• Repairing and Maintaining Mechanical Equipment - Servicing, repairing, adjusting, and testing machines, devices, moving parts, and equipment that operate primarily on the basis of mechanical (not electronic) principles.
• Repairing and Maintaining Electronic Equipment - Servicing, repairing, calibrating, regulating, fine-tuning, or testing machines, devices, and equipment that operate primarily on the basis of electrical or electronic (not mechanical) principles.
• Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
• Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.
• Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
• Communicating with People Outside the Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
• Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
• Assisting and Caring for Others - Providing personal assistance, medical attention, emotional support, or other personal care to others such as coworkers, customers, or patients.
• Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
• Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
• Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
• Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.
• Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.
• Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
• Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
• Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
• Providing Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
• Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
• Staffing Organizational Units - Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.
• Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.

Detailed Work Activities

• Review professional literature to maintain professional knowledge.
• Prepare scientific or technical reports or presentations.
• Forecast economic, political, or social trends.
• Supervise trainees.
• Instruct college students in social sciences or humanities disciplines.
• Conduct research on social issues.
• Advise others on matters of public policy.
• Explain regulations, policies, or procedures.
• Present information to the public.
• Advise others on business or operational matters.
• Establish standards for products, processes, or procedures.
• Testify at legal or legislative proceedings.