Economists
SOC: 19-3011.00

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.


National Salary Information:

Hourly Statistics:

Annual Statistics:

Source: Bureau of Labor Statistics 2015 wage data.


Employment Projections:

Employment (2014):
21,500 employed

Projected (2024):
22,700 employed

Projected growth (2014-2024)


Source: Bureau of Labor Statistics 2015 2014-2024 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.


Alternate Titles:

  • Agricultural Economist
  • Business Economist
  • Econometrician
  • Economic Adviser
  • Economic Analysis Director
  • Economic Analyst
  • Economic Consultant
  • Economic Developer
  • Economic Development Specialist
  • Economic Research Analyst
  • Economist
  • Environmental Economist
  • Financial Economist
  • Fiscal Economist
  • Forensic Economist
  • Forest Economist
  • Health Economist
  • Health Researcher
  • Industrial Economist
  • International Trade Specialist
  • Labor Economist
  • Medical Economics Consultant
  • Policy Advisor
  • Policy Analyst
  • Policy Officer
  • Price Economist
  • Professor
  • Professor of Economics
  • Project Economist
  • Regional Economist
  • Research Analyst
  • Revenue Research Analyst
  • Social Economist
  • Tax Economist
  • Trade Economist


  • Job Zone Five: Extensive Preparation Needed

    Experience:

    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.

    Education:

    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).

    Job Training:

    Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.


    Required Skills:

  • Reading Comprehension
  • Active Listening
  • Writing
  • Speaking
  • Mathematics
  • Science
  • Critical Thinking
  • Active Learning
  • Learning Strategies
  • Monitoring
  • Social Perceptiveness
  • Coordination
  • Persuasion
  • Negotiation
  • Instructing
  • Service Orientation
  • Complex Problem Solving
  • Operations Analysis
  • Technology Design
  • Programming
  • Judgment and Decision Making
  • Systems Analysis
  • Systems Evaluation
  • Time Management
  • Management of Financial Resources
  • Management of Material Resources
  • Management of Personnel Resources

  • Knowledge Used:

  • Administration and Management
  • Clerical
  • Economics and Accounting
  • Sales and Marketing
  • Customer and Personal Service
  • Personnel and Human Resources
  • Production and Processing
  • Computers and Electronics
  • Engineering and Technology
  • Mathematics
  • Physics
  • Psychology
  • Sociology and Anthropology
  • Geography
  • Therapy and Counseling
  • Education and Training
  • English Language
  • Foreign Language
  • History and Archeology
  • Philosophy and Theology
  • Law and Government
  • Telecommunications
  • Communications and Media
  • Transportation


  • Tasks:

  • Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
  • 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.
  • 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.
  • Supervise research projects and students' study projects.
  • Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources.
  • Teach theories, principles, and methods of economics.
  • Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.
  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
  • Conduct research on economic issues and disseminate research findings through technical reports or scientific articles in journals.

  • Tools & Technology:

  • 10-key calculators
  • Data scanners
  • Desktop computers
  • Laptop computers
  • Maintrame computers
  • Personal computers
  • Aptech Systems GAUSS software
  • C++
  • Camfit Data Limited Microfit
  • Corel QuattroPro
  • Corel WordPerfect Office Suite
  • Econometric Software LIMDEP
  • ESRI ArcView
  • Estima Regression Analysis of Time Series RATS
  • Estimates Delivery System EDS
  • Formula translation/translator FORTRAN
  • Global Insight AREMOS
  • IBM Lotus 1-2-3
  • Insightful S-PLUS
  • LaTeX software
  • MacKichan Software Scientific Notebook
  • Maplesoft Maple
  • Mathsoft Mathcad
  • MediaWiki
  • Microsoft Access
  • Microsoft Excel
  • Microsoft Internet Explorer
  • Microsoft Office software
  • Microsoft Outlook
  • Microsoft PowerPoint
  • Microsoft Visual Basic
  • Microsoft Visual C# .NET
  • Microsoft Word
  • Minitab software
  • Mozilla Firefox
  • MySQL software
  • Oracle Java
  • Oracle software
  • Palisade @Risk
  • Python
  • Quantitative Micro Software EViews
  • R
  • SAS software
  • SPSS software
  • StataCorp Stata
  • Structured query language SQL
  • The MathWorks MATLAB
  • Timberlake Consultants OxMetrics
  • TreeAge Software TreeAge Pro
  • UNIX
  • Web browser software
  • Wolfram Research Mathematica


  • life physical and social science


    industry stats

    SOC: 19-0000

    Total Employed: 1,146,110

    Average Annual Salary: $71,220