Economists
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 Advisor
Economic Analyst
Economic Consultant
Economic Development Specialist
Economist
Forensic Economist
Project Economist
Research Economist
Revenue Research Analyst
Tax Economist
Wages
Annual wages for Economists in United States
Job Outlook
Below Average
New job opportunities are less likely in the future
United States
2034 Projected Employment
17,800
1% Change From 2024
Explore Economists video
Tasks you might complete in a day.
- Supervise research projects and students' study projects.
- Develop economic guidelines and standards, and prepare points of view used in forecasting trends and formulating economic policy.
- 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.
- Provide litigation support, such as writing reports for expert testimony or testifying as an expert witness.
- Explain economic impact of policies to the public.
- 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.
- 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.
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Review documents written by others.
- 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.
- Explain economic impact of policies to the public.
- Teach theories, principles, and methods of economics.
- Review documents written by others.
- Conduct research on economic issues, and disseminate research findings through technical reports or scientific articles in journals.
Subject areas you may need to master.
- Administrative - Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
- Food Production - Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
- Design - Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
- Transportation - Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
- Therapy and Counseling - Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.
- 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.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, and rules of composition and grammar.
- Mechanical - Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
- Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
- Medicine and Dentistry - Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
- History and Archeology - Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
- Production and Processing - Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
- Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Telecommunications - Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.
- 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.
- Sociology and Anthropology - Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.
- Foreign Language - Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
- 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.
- Philosophy and Theology - Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.
- Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
- Fine Arts - Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Public Safety and Security - Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
- Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
- Physics - Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.
- Chemistry - Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.
- Biology - Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
Strengths you may need in this role.
- Monitoring - Keeping track of how well people and/or groups are doing in order to make improvements.
- Social Perceptiveness - Understanding people's reactions.
- Systems Evaluation - Measuring how well a system is working and how to improve it.
- Technology Design - Making equipment and technology useful for customers.
- Speaking - Talking to others.
- Active Learning - Figuring out how to use new ideas or things.
- Complex Problem Solving - Noticing a problem and figuring out the best way to solve it.
- Equipment Selection - Deciding what kind of tools and equipment are needed to do a job.
- Programming - Writing computer programs.
- Operations Monitoring - Watching gauges, dials, or display screens to make sure a machine is working.
- Equipment Maintenance - Planning and doing the basic maintenance on equipment.
- Troubleshooting - Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
- Repairing - Repairing machines or systems using the right tools.
- Quality Control Analysis - Testing how well a product or service works.
- Learning Strategies - Using the best training or teaching strategies for learning new things.
- Negotiation - Bringing people together to solve differences.
- Instructing - Teaching people how to do something.
- Service Orientation - Looking for ways to help people.
- Systems Analysis - Figuring out how a system should work and how changes in the future will affect it.
- Mathematics - Using math to solve problems.
- Reading Comprehension - Reading work-related information.
- Science - Using scientific rules and strategies to solve problems.
- Active Listening - Listening to others, not interrupting, and asking good questions.
- Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
- Writing - Writing things for co-workers or customers.
- Operations Analysis - Figuring out what a product or service needs to be able to do.
- Judgment and Decision Making - Thinking about the pros and cons of different options and picking the best one.
- Installation - Installing equipment, machines, wiring, or computer programs.
- Operation and Control - Using equipment or systems.
- Coordination - Changing what is done based on other people's actions.
- Persuasion - Talking people into changing their minds or their behavior.
- Time Management - Managing your time and the time of other people.
- Management of Financial Resources - Making spending decisions and keeping track of what is spent.
- Management of Material Resources - Managing equipment and materials.
- Management of Personnel Resources - Selecting and managing the best workers for a job.
- Manual Dexterity - Holding or moving items with your hands.
- Problem Sensitivity - Noticing when problems happen.
- Oral Comprehension - Listening and understanding what people say.
- Memorization - Remembering words, numbers, pictures, or steps.
- Category Flexibility - Grouping things in different ways.
- Inductive Reasoning - Making general rules or coming up with answers from lots of detailed information.
- Perceptual Speed - Quickly comparing groups of letters, numbers, pictures, or other things.
- Rate Control - Changing when and how fast you move based on how something else is moving.
- Multilimb Coordination - Using your arms and/or legs together while sitting, standing, or lying down.
- Static Strength - Lifting, pushing, pulling, or carrying.
- Night Vision - Seeing at night or under low light.
- Oral Expression - Communicating by speaking.
- Fluency of Ideas - Coming up with lots of ideas.
- Speed of Closure - Quickly knowing what you are looking at.
- Information Ordering - Ordering or arranging things.
- Mathematical Reasoning - Choosing the right type of math to solve a problem.
- Selective Attention - Paying attention to something without being distracted.
- Dynamic Flexibility - Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.
- Speed of Limb Movement - Quickly moving your arms and legs.
- Explosive Strength - Jumping, sprinting, or throwing something.
- Reaction Time - Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
- Near Vision - Seeing details up close.
- Far Vision - Seeing details that are far away.
- Flexibility of Closure - Seeing hidden patterns.
- Visualization - Imagining how something will look after it is moved around or changed.
- Number Facility - Adding, subtracting, multiplying, or dividing.
- Time Sharing - Doing two or more things at the same time.
- Response Orientation - Quickly deciding if you should move your hand, foot, or other body part.
- Control Precision - Quickly changing the controls of a machine, car, truck or boat.
- Dynamic Strength - Exercising for a long time without your muscles getting tired.
- Gross Body Coordination - Moving your arms, legs, and mid-section together while your whole body is moving.
- Gross Body Equilibrium - Keeping your balance or staying upright.
- Speech Clarity - Speaking clearly.
- Wrist-Finger Speed - Making fast, simple, repeated movements of your fingers, hands, and wrists.
- Originality - Creating new and original ideas.
- Deductive Reasoning - Using rules to solve problems.
- Written Comprehension - Reading and understanding what is written.
- Finger Dexterity - Putting together small parts with your fingers.
- Spatial Orientation - Knowing where things are around you.
- Arm-Hand Steadiness - Keeping your arm or hand steady.
- Peripheral Vision - Seeing something to your side when your are looking ahead.
- Speech Recognition - Recognizing spoken words.
- Sound Localization - Noticing the direction that a sound came from.
- Extent Flexibility - Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
- Auditory Attention - Paying attention to one sound while there are other distracting sounds.
- Depth Perception - Deciding which thing is closer or farther away from you, or deciding how far away it is from you.
- Trunk Strength - Using your lower back and stomach.
- Visual Color Discrimination - Noticing the difference between colors, including shades and brightness.
- Glare Sensitivity - Seeing something even if there is a glare or very bright light.
- Written Expression - Communicating by writing.
- Stamina - Exercising for a long time without getting out of breath.
- Hearing Sensitivity - Telling the difference between sounds.
Average Education Attained
Highest level of education earned by people in this career.
Career Coaching
Need a guide to help you on your career journey or to prepare for your next interview?
You May Also Be Interested In
Content sourced from United States Department of Labor Employment and Training Administration ("DOLETA") and the Minnesota Department of Employment & Economic Development ("DEED")