Economists

What they do:

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.

On the job, you would:

  • 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.

Knowledge

  • Economics and Accounting
  • Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Mathematics
  • Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English Language
  • Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Computers and Electronics
  • Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • 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.
  • Law and Government
  • Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • 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.
  • 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.
  • 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

  • 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.
  • 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.
  • Critical Thinking
  • Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Complex Problem Solving
  • Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Reading Comprehension
  • Understanding written sentences and paragraphs in work related documents.
  • Judgment and Decision Making
  • Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Instructing
  • Teaching others how to do something.
  • Active Learning
  • Understanding the implications of new information for both current and future problem-solving and decision-making.

Abilities

  • Written Comprehension
  • The ability to read and understand information and ideas presented in writing.
  • Written Expression
  • The ability to communicate information and ideas in writing so others will understand.
  • 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).
  • Oral Comprehension
  • The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression
  • The ability to communicate information and ideas in speaking so others will understand.
  • Mathematical Reasoning
  • The ability to choose the right mathematical methods or formulas to solve a problem.
  • Speech Clarity
  • The ability to speak clearly so others can understand you.
  • Problem Sensitivity
  • The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Fluency of Ideas
  • The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).

Work Activities

  • Analyzing Data or Information
  • Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Getting Information
  • Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Interacting With Computers
  • Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Processing Information
  • Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Making Decisions and Solving Problems
  • Analyzing information and evaluating results to choose the best solution and solve problems.
  • Updating and Using Relevant Knowledge
  • Keeping up-to-date technically and applying new knowledge to your job.
  • Interpreting the Meaning of Information for Others
  • Translating or explaining what information means and how it can be used.
  • 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.

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.
  • Second Interest High-Point
  • Secondary-Cutoff/Rank Descriptiveness
  • Third Interest High-Point
  • Tertiary-Cutoff/Rank Descriptiveness
  • 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.
  • First Interest High-Point
  • Primary-Rank Descriptiveness
  • Social
  • Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Work Styles

  • 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.